Enel Chile S.A. Annual Report 2020

Plain-text annual report

OPEN POWER FOR A BRIGHTER FUTURE. WE EMPOWER SUSTAINABLE PROGRESS. 2020 ANNUAL REPORT - ENEL AMÉRICAS OPEN POWER FOR A BRIGHTER FUTURE. Santiago Stock Exchange https://www.bolsadesantiago.com ENELAM New York Stock Exchange (NYSE) https://www.nyse.com/index ENIA Enel Américas S.A. was first established under the name of Compañía Metropolitana de Distribución Eléctrica S.A., and on December 1, 2016 it was renamed as Enel Américas S.A. As of December 31, 2020, its share capital totaled US$ 9,763,078 thousand, represented by 76,086,311,036 shares, which are listed on stock exchanges in Chile and in the United States (New York) as American Depositary Receipts (ADS). The Company´s main business is to explore, develop, operate, generate, distribute, transfer, transform and/or sell energy in any form or nature, directly or through other companies. It can also carry out telecommunications activities and provide engineering services in the country and abroad, as well as invest and manage investments in subsidiaries and other partners. The Company controls and manages a group of companies operating in the electricity markets in four Latin American countries (Argentina, Brazil, Colombia, and Peru), its total assets reaching US$ 26,933,558 thousand as of December 31, 2020. The Company´s net income attributable to the parent company in the 2020 financial year reached US$825,197 thousand and the operating income stood at US$2,053,115 thousand. At the end of that period, it directly employed 16,731 people through its subsidiaries in South America. About this Annual Report Enel Américas' 2020 Annual Report reflects that sustainability is part of our business model and is present in each decision the Company makes every day. That is why the financial results originate in a three-dimension management: environmental, social, and corporate governance (ESG). Taking into consideration the above context, this document, which has been elaborated pursuant to the provisions of the General Standard (GS) of the Financial Market Commission (FMC), and also incorporates supplementary financial information to communicate its management in this aspect. At the same time, whenever we refer to the Annual Statement, Annual Report, or Annual Review, we will be referring to the 2020 Annual Report. Furthermore, when we refer to Enel Américas S.A. we will interchangeably use the terms Enel Américas, the Company, the Corporation and/or the Business. The 2020 Annual Report will be available in a digital version on the website, in the Investors section. Scope of information The financial and supplementary financial information considered in this report covers Enel Américas S.A. and its subsidiaries, as detailed in Note 2.4 of the Financial Statements. Name or business name Enel Américas S.A. Domicile Type of company Tax ID number/RUT Address Postal Code Telephones PO Box Registration number in the Securities Register External Auditors Subscribed and paid capital (US$) Website Email Investor Relations Telephone Number Investor Relations Contact Santiago, Chile, may establish agencies or branches elsewhere in the country or abroad Publicly Traded Corporation 94.271.000-3 Santa Rosa No. 76, Santiago, Chile 833-009 Santiago de Chile (56-2) 2353 4400 - (56-2) 2 378 4400 1557, Santiago No. 175 KPMG Consultant Auditors 9,763,078,700 www.enelamericas.com comunicacion.enelamericas@enel.com (56-2) 2353 4682 Rafael de la Haza (rafaeldelahazacasarrubio@enel.com) ir.enelamericas@enel.com Mnemonic code in the Chilean Stock Exchanges ENELAM Mnemonic code in the New York Stock Exchange (New Stock Exchange: "NYSE") ENIA Custodian Bank of ADS program Depository Bank of ADS Program National Risk Rating Agencies International Risk Rating Agencies Banco Santander Chile Citibank N.A. Feller Rate Clasificadora de Riesgo Limitada Fitch Chile Clasificadora de Riesgo Limitada Moody´s Investor Services Standard & Poor´s International Rating Services Fitch Ratings R E T H G R B I ANNUAL REPORT ENEL AMÉRICAS 2020 Annual Report Enel Américas 2020Borja Acha Chairman Maurizio Bezzeccheri Chief Executive Officer Letter from the Chairman and CEO Dear Shareholders: At the beginning of 2020, when we presented the 2019 Annual Report, we began to see with surprise and uncertainty the first impacts of a global threat of which little had been known until then: COVID-19. We were not yet able to fully evaluate the devastating effects of this pandemic, nor were we able to forecast the duration of the global health crisis that it unleashed nor its harsh personal, social, and economic consequences throughout the world. A year later, as we are writing these lines, we have a clearer vision of what this complex and unprecedented crisis has meant, both for the Company and for our employees, customers, investors, and communities. We have seen first-hand the efforts undertaken in the different countries of the continent aimed at dealing with the pandemic and the effects it has had on regional economies and the labor market. Therefore, we would first like to thank our teams for their commitment in an extremely challenging and uncertain 2020. Thanks to their dedicated work, we were able to show the strength so characteristic to this Company and maintain the continuity of our electricity generation, distribution, and transmission operations at a time when our commitment to our customers and the society as a whole was more essential than ever. Macro-economic environment The world economy experienced the biggest collapse of the last eighty years. The region, which had already recorded low growth figures in previous years, because of the impact of COVID-19 also saw employment rates decline and poverty levels increase. Although the governments in different countries implemented emergency measures to mitigate the social and economic effects of the pandemic, it is certainly the deepest crisis we have experienced in recent decades. The confinement imposed on us by the pandemic led to the total or partial stoppage of many productive activities and also the services of different sectors which are crucial to any country's economy. This led to a significant decrease in domestic consumption, lower cash flows in companies – with the subsequent effect on their investment decisions – increasing unemployment and thus lower incomes for people. Taking into consideration the above, it was essential for a sector as strategic as ours to remain operational and to quickly adopt the technological changes required in such situation. Indeed, as a result of COVID-19, the already ongoing energy and digital transition in the region has accelerated, speeding up the electrification and development of renewable energies, something that is very important for a sustainable recovery. COVID-19 Context At the beginning of the health crisis, we quickly took the necessary steps to address the emergency in all our subsidiaries. The aim was, on one hand, to protect the health of workers, contractors, customers, and communities, minimizing the spread of contagion to the maximum and, on the other hand, to guarantee the continuity of power supply in all the regions where we operate. We constantly monitor information related to the requirements issued by the World Health Organization (WHO) and health authorities in each country and we have implemented remote working or teleworking modes for all the workers who could access the required media, except in the critical activities fundamental to service continuity and the safety of electrical systems. We made digital systems available to our field workers which allowed us to continue managing and controlling our plants in safe conditions, also thanks to the fact that for some years now our systems have been hosted in the cloud. In addition, we activated an insurance policy for all Enel Américas employees, the first of its kind in the world that provides all the Group´s staff members with a special coverage in case of a COVID-19 hospitalization. In all the communities where we are present, we work in partnership with local institutions to collaborate in the battle against the pandemic. Among the initiatives we have and are carrying out are contributing mobile laboratories and electric buses; electrical Annual Report Enel Américas 2020works and increased power for hospitals; donating medical supplies and oxygen; delivery of food baskets to socially vulnerable families; campaigns promoting responsible behavior to deal with the crisis; supporting vulnerable customers such as those who rely on electricity for their health requirements and people with disabilities, among other measures. As far as our customers are concerned, progress in our digital transformation process was critical to mitigating the impacts of the health and economic crisis, given that we were able to launch and strengthen our digital channels to meet commercial requirements, report problems, receive, and send information or suggestions on maintenance, among other aspects. We have also revamped our Websites to make it easier for our customers to use them and to contact local offices. In relation to our suppliers, we have implemented measures to mitigate the devastating effects on their businesses arising from this pandemic by maintaining the continuity of their contracts with the Company as well as the corresponding payment flows. Results of the period In 2020, EBITDA reached $3,154 million, a 21.1% decrease as compared to 2019, mainly explained by a sharp devaluation of currencies in the countries in which we operate, coupled with a contraction in energy demand related to COVID-19. Isolating the extraordinary and exchange rate effects, EBITDA would have increased by 0.6%. If we consider the last quarter of 2020, we can observe a significant recovery from the previous quarters. EBITDA in this period was 6.4% lower than in the same period of the previous year, but isolating the exchange rate and extraordinary effects, it would have increased by 9.3%. In this challenging context, Enel Américas has been able to significantly reduce the cost of debt and to improve its cash flow. In the last few months of 2020, we began to see certain signs of recovery both in the electricity demand and in our revenue. At the same time, during this period, progress in the quality indicators of our distribution companies, in terms of SAIDI (Disruption Time per Customer) and SAIFI (Average Frequency of Interruption per Customer) are also noteworthy. In terms of customer numbers, we have grown by 400 thousand, mainly in Enel Sao Paulo, Enel Goias, Enel Ceará and Codensa. Integration of non-conventional renewable energy business 2020 also presented us with important opportunities. One of them will be recorded in our history: on December 18, 2020, the Company's Extraordinary Shareholders’ Meeting approved the Merger by incorporation of EGP Américas into Enel Américas by a large majority, allowing the latter to control and consolidate the ownership of the renewable energy business and generation assets that Enel Green Power develops and owns in Central and South America (except Chile). Once the Merger is complete, the share of renewable sources in the Company's total generation portfolio will increase from 56% to 73%. We have worked with conviction in pursuit of a fair energy transition for Latin America and to continue leading the sector, we must grow, incorporating the renewable energies business. We believe that this not only brings value to the business in financial terms, but also represents our commitment to sustainability understood in its broadest sense, as well as to the transformation of the energy matrix into an always cleaner one that will improve the quality of life of the region´s inhabitants. Furthermore, this merger will give the Company immediate access to the know-how and proven experience of Enel Green Power, the world's leader in renewable energy, preserving the financial discipline that has always characterized us. It will also permit us to add 7.8 GW of installed capacity of renewable energies by 2024, permitting Enel Américas to access new growth opportunities that will add to its already consolidated leadership in distribution and the development of advanced energy solutions through Enel X. This will diversify our business and, in short, strengthen our positioning. Sustainability in the core In February 2020 Enel Américas received the Bronze Class distinction for our work in sustainability and was incorporated - once again - into the Sustainability Yearbook. Since 2004, this has been the world's most comprehensive publication on corporate sustainability, while the Bronze Class Award is a distinction that is awarded to the best performing companies 66 in their industry and that fall into the ranking of between 5% and 10% of the best scores in SAM's Annual Corporate Sustainability Assessment (CSA). Furthermore, the Company was the only electric utilities firm included in the new S&P Dow Jones sustainable index introduced by the Santiago Stock Exchange and S&P Dow Jones indices in January 2021. The S&P IPSA ESG Tilted Index follows rule-based selection criteria based on ESG principles (environmental, social and governance) to select and weight components from the IPSA S&P, to measure the performance of some of the largest and most liquid stocks listed on the Santiago Stock Exchange. Enel Américas was placed among the top 10 companies in corporate governance practices according to the 2020 Annual Study of GovernArt and Vigeo Eiris and in the Chilean ranking we are placed as the second best Company. The analysis included 139 companies, evaluated on seven aspects. One of them was the companies’ work to prevent corruption. In relation to this item, Enel Américas was again recognized as one of the best in Latin America. An important contribution to Enel Américas' sustainability strategy and corporate governance growth is represented by the continuous improvement of the Company's compliance and integrity model inspired by international best practices. This work was also recognized in 2020 as the Company obtained the external certification of the Model of Prevention of Criminal Risks of Enel Américas until July 2022, in compliance with Law No. 20.393 on Criminal Responsibility of Legal Persons in Chile. Similarly, Enel Américas and its subsidiaries have continued to implement and certify their Anti-Bribery Management System under the international ISO37001 standard, maintaining a voluntary commitment to certify all the Company´s subsidiaries. These facts are only the proof of a reality: for us, sustainability and its values are the center of our strategy. We want and believe in leading a sustainable company today and in the future. Other milestones We also want to highlight other achievements that took place during the period. Enel X launched the First 100% Electric Pan-American Corridor following the west coast of North, Central and South America and along the Andes Mountains. This corridor is the first of its kind and size and a gamble for the future: it covers 11 countries and has 196 JuiceBox charging points visible in the JuicePass app for drivers to charge their cars or electric motorcycles. In Colombia, the mayor of Bogotá, through Transmilenio, delivered 120 new 100% electric buses along with the city's first 100% electric terminal, whose operation began on December 26. The infrastructure, installed by Enel X, has 56 double electric recharge points that allow to simultaneously recharge more than 100 buses. 2020 was a challenging year. A testing year. A year in which we showed that we are more than a just company, we are a human group concerned with our natural and social environment. We want to thank everyone who has worked to move Enel Américas forward in such a difficult period. We know that the efforts doubled during the pandemic. That is why our commitment is to continue to support our society in all the countries in which we operate. We extend an invitation to our employees in all the areas to first take care of their health and the environment and, second, to continue their efforts to walk along the path we have set out to provide a quality service to our clients, generating cleaner energy. Thank you very much. Borja Acha Chairman of the Board Maurizio Bezzeccheri Chief Executive Officer 7 Annual Report Enel Américas 2020Chapter 1 Enel Américas at a Glance Enel Américas at a Glance 2 Corporate Governance Ownership and Control Corporate Governance Structure Effectiveness of the Board of Directors Committees Main Policies Company Management Ethics and Integrity 3 Risk Strategy and Management Macroeconomic Environment Regulatory Environment by Country Risk Management Materiality Strategy and Business Model of Enel Américas 4 Enel Américas´ Businesses Bussinesses Structure Enel Américas´ Business by Country 5 Management Investments and Financial Activities Environmental Dimension Management Management in the Social Dimension Managing the Economic Dimension 6 Metrics Metrics Related with Human Resources Environmental Metrics 7 Other Regulatory Corporate Information Other Regulatory Corporate Information Information on Shares Direct and indirect Participation of Enel Américas Argentina Brazil Colombia Peru 8 Annexes Financial Statements Report of Inspectors of Accounts Press Release Risk Factors Relevant or Significant Events Glossary 9 Statement of Responsibility CONTENT Page 12 14 22 24 27 31 34 39 42 46 52 54 54 59 72 78 80 82 87 116 118 122 124 138 140 142 147 148 150 152 157 160 167 173 177 180 182 402 404 442 453 474 478 Annual Report Enel Américas 2020 ENEL AMÉRICAS IS OPEN POWER VI SION Open power to tackle some of the world’s biggest challenges PO SITIO NING Open Power PUR P0 SE MI SSION > Open access to electricity for more people > Open the world of energy to new technology > Open up to new uses of energy > Open up to new ways of managing energy for people > Open up to new partnerships 1010 PRI NCI PLES CON DUCT OF > Make decisions in daily activities and take responsibility for them. > Share information, being willing to collaborate and open to the contribution of others. > Follow through with commitments, pursuing activities with determination and passion. > Change priorities rapidly if the situation evolves. > Get results by aiming for excellence. > Adopt and promote safe behavior and move pro- actively to improve conditions for health, safety and well-being. > Work for the integration of all, recognizing and leveraging individual diversity (culture, gender, age, disabilities, personalities, etc.). > Work focusing on satisfying customers and/or co- workers, acting effectively and rapidly. > Propose new solutions and do not give up when faced with obstacles or failure. > Recognize merit in co-workers and give feedback. Open power for a brighter future. We empower sustainable progress. VA LU ES > Trust > Proactivity > Responsibility > Innovation 11 Annual Report Enel Américas 20201 Enel Américas at a Glance 1212 13 Annual Report Enel Américas 2020Enel Américas at a Glance About Enel Américas goal has been the protection of health and safety of all our staff members. We collaborate with the communities that live near our operations through civil society institutions or directly with the communities and strengthen the local economic development projects that have already been planned. For more details on community actions and initiatives, please Through our subsidiaries, Enel Américas creates, transports, review our corporate website. and distributes energy in four countries in South America: Argentina, Brazil, Colombia, and Peru. This means that we Health and safety of our employees are the largest private electricity company in Latin America, totaling 11,269 MW of installed capacity and delivering energy Enel Group activated an insurance policy for the more than to more than 25.6 million customers. 68,000 employees, which covers hospitalization due to COVID-19. This insurance was designed according to the Groups´ specific As part of the Enel Group, the Company adheres to the needs and became the first of its kind in the world to guarantee Open Power vision and philosophy, which involves making global support during the pandemic. a commitment to some of the biggest challenges facing the planet. To achieve this, we want to open energy to more The use of telework for all employees whose jobs can be people, to new technologies, to new ways of managing it for performed remotely (50% of the staff). This work mode was our consumers; we want to open up to new uses and more introduced in the Group a few years ago, which thanks to collaborators. A task in line with our values that we will carry investment in digitalization, allows work to be performed out with responsibility, innovation, trust, and proactivity remotely with the same level of efficiency and effectiveness. Actions within the COVID-19 context Enel Américas and all our subsidiaries have taken several Those Collaborators who, due to their functions, had to continue working in the field, carried out their work taking extreme security measures to protect their health.. steps to address the emergency caused by coronavirus Thanks to the commitment of our people, contractors, and (COVID-19) to reduce the likelihood of contagion among suppliers, together with the use of technology and robust safety our employees and collaborators. At the same time, we try procedures, by the end of 2020 100% of our plants and networks to guarantee business and service continuity in the countries were fully operational, which permitted us to guarantee service where we are present. That is why we have been constantly continuity. monitoring information, pursuant to the recommendations of the World Health Organization (WHO) and the instructions During the period we have expanded the commitment to issued by different authorities. our customers: we have increased the channels and options: WhatsApp, website, chatbot on the website (virtual assistant) In that context, we activated the teleworking modality in all and app. In addition, the number of digital platforms has been the countries and for all our employees. The only exceptions increased to make remote payments more flexible. are those activities which cannot be postponed and that are required to guarantee service continuity and the security of national electrical systems. This decision is in line with the ESG indices precautionary measures taken by the Enel Group since the The relevance of sustainability in Enel Américas' business beginning of the emergency. For the employees who work and its performance is reflected in its inclusion in the main from their homes, we have provided the office equipment global ESG indices. and tools they require to do their jobs efficiently, which leads to their well-being and care. These indices and rankings are instruments that measure the management of a particular company in this area. To coordinate corporate volunteering, we set up a Task Therefore, the qualifications and analyses carried out by Force team and began to work at the end of February 2020 specialized organizations on these subjects are considered on establishing, coordinating, and reporting actions related a strategic tool to support investors and identify the risks to community support within this context, and whose main and opportunities in their investment portfolio. 1414 134562A Look at Enel AméricasMetricsEnel Américas´ BusinessesRisk Strategy and ManagementCorporate Governance 2020 ManagementREINFORCING OUR SDG COMMITMENT PROYECTS TO SUPPORT LOCAL COMMUNITIES ENEL AMÉRICAS OVERALL DECEMBER 2020 536 projects 2,6MIL beneficiaries SDG CONTRIBUTION CHARITABLE ACTIVITIES IN RESPONSE TO THE COVID-19 CRISIS 24 projects 215.5K beneficiaries 82 projects 483K beneficiaries 65 projects 122.2K beneficiaries 175 projects 134 projects 891.3K beneficiaries 594.8K beneficiaries 8 projects 33.5K beneficiaries TOTAL INITIATIVES 112 HEALTH 60 > Monetary contributions to hospitals or civil protection bodies. > Enel spaces made available for medical needs (field hospitals, spaces for quarantine, etc..) 52 SOCIO ECONOMIC > Donation of basic food baskets to families in situation of social vulnerability > Family kit (house & personal preventive cleaning) > Deliver DPIs to people, doctors and > Use of the daycare centers nurses around our assets > Supply of basic materials as personal protection elements and support for patients > Donate Enel's own resources and monetary contribution to produce fast tests to detect Coronavirus > Donation of intensive care machinery > Free supply of all the necessary energy and building for “field hospital”. maintained by Enel to receive children from electricians and health professionals of public hospitals who are working in quarantine > Campaign to disseminate behaviors to face the crisis and to “stay at home” > Manufacturing of handmade masks for people in risk group in communities. > Support of vulnerable clients such as “electrodependientes” and people with disability The companies that integrate the triple environmental, social and governance dimension (ESG) into their management, S&P IPSA ESG Tilted Index On January 20, 2021 Enel Américas was included in the S&P maximize profits, minimize risks while at the same time Dow Jones' new sustainable index, which seeks to measure contribute to reaching the United Nations-driven Sustainable the performance of eligible S&P IPSA securities that comply Development Goals (SDGs). with sustainability requirements. ESG Indices in which Enel Américas takes part. FTSE4Good Index For the fourth consecutive year, Enel Américas was included Dow Jones Sustainability Index (DJSI). Enel Américas was included in the three categories in which in this ranking in the Emerging Markets and Latin American categories. This series of indices (FTSE4Good) is designed it participates: Emerging Markets, Integrated Pacific Alliance to measure the performance of companies that carry out Market (Spanish acronym MILA) and Chile. The Company's strong environmental, social and governance (ESG) practices. score places it among the best companies in the world, complying with more than 60% of the criteria scores above 90 out of a maximum of 100. Vigeo-Eiris For the fourth consecutive year, Enel Américas was included in the "Best Emerging Markets Performers" ranking in In 2021, for the third consecutive year, the Company was the Vigeo-Eiris utilities sector which considers the best confirmed in The Sustainability Yearbook 2021 and was performing companies in emerging markets with a "best- again distinguished within the Bronze Class for its excellent in-class" approach. performance, ranking between 5% and 10% of the most sustainable companies in the industry worldwide. 15 Annual Report Enel Américas 2020 MSCI ESG Indices Since 2019, Enel Américas has received the AA classification, forming part of the various sustainability stock indices offered by this entity. Sustainalytics On November 12, 2020, Enel Américas was ranked with a score of 27.4 and placed among the 18% of companies with the lowest risk in the global electricity industry (a lower score reflects a reduced ESG risk). Main financial and commercial figures Below we present the main figures for the end of the period. For more detail, please review the Investors´ section on the corporate website. THOUSANDS OF DOLLARS AS OF DECEMBER 31, OF EACH YEAR 2020 26,920,167 16,599,895 12,192,674 3,153,586 825,197 0.85 1.61 Total assets Total collectable liabilities Operating income EBITDA Net income(1) Liquidity index Debt ratio(2) 2019 29,776,384 17,530,198 14,314,112 3,994,192 1,614,085 0.98 1.43 2018 27,396,356 18,564,456 12,989,689(3) 3,357,708 1,201,381 0.66 2.1 2017 20,168,991 11,890,484 10,438,003 2,947,261 709,043 0.92 1.44 2016 16,851,472 8,971,733 7,686,133 2,430,336 566,497 1.25 1.14 (1) Corresponds to the net income attributable to the parent company. (2) (3) Total liabilities/equity plus minority interest. The figure presented in 2018 was 13,184,062, which was modified by reclassifications that allow a better comparability of the figures without affecting the final result. AS OF DECEMBER 31, 2020 Generation business Number of generating units Installed generation capacity (MW) % of installed renewable energy capacity % market share (installed capacity) Electrical power generated (GWh) % of renewable generated electricity Electric power sold (GWh) % market share (energy sales) Specific CO2 emissions (tCo2) Employees(2) Distribution business Thousands of Km2 of concession area Thousands of Smart meters installed Energy losses(1) Employees(2) End customers Number of customers (millions) Energy sold (GWh) Enel X MW of demand response Number of charging points installed Thousands of luminous points installed Employees(2) Argentina 29 4,419 30.1% 10.5% 13.901 20.60% 13.903 10.9% 4,644,172 530 Argentina 3,309 14,501 18.9% 3,500 Argentina 2.5 15.888 Argentina - 130 - - Brazil 17 1,354 76.5% 1.0% 4.823 95.60% 25.296 5.3% 90,627 198 Brazil 522,933 965 12.2% 9,087 Brazil 18.1 77.913 Brazil - 974 20 126 2020 Colombia 36 3,506 88.3% 20.1% 14.009 95.00% 17.539 24.9% 647,904 615 Colombia 26,093 71,357 7.6% 1,535 Colombia 3.6 13.834 Colombia 13.9 620 414 - Peru 30 1,990 39.8% 13.2% 7.722 56.40% 10.258 20.9% 1,513,200 337 Peru 1,602 7,866 8.8% 597 Peru 1.5 7.578 Peru - 42 402 9 Total 112 11,269 55.5% 5.4% 40.455 62.10% 66.996 9.3% 6,895,903 1.680 Total 553,937 94,689 13.0% 14,719 Total 25.6 115.213 Total 13.9 1,766 836 135 2019 Total 112 11,267 55.5% 5.5% 41.760 61.3% 72.553 9.9% 6,963,813 1.629 Total 553,937 87,426 11.9% 15,411 Total 25.2 120.594 Total 0.9 564 818 152 (1) (2) Energy losses differ slightly from those reported the previous year, due to changes in measurements especially in Brazil after closure. To obtain the total number of employees, employees who work for the different businesses must be added without being distributed in a specific way; these correspond to 197 in 2020 and 118 in 2019. 1616 134562A Look at Enel AméricasMetricsEnel Américas´ BusinessesRisk Strategy and ManagementCorporate Governance 2020 Management Milestones of the period The following are the most relevant facts about the Company in the 2020 financial year: Enel SpA increased its shareholding in Enel Américas S.A. In April, our parent company Enel SpA informed the market via a significant event (1) that it signed two agreements with a financial institution aimed at increasing its stake in Enel Américas S.A. by up to 2.7%. On May 28, Enel SpA reported increasing its shareholding in Enel Américas S.A., reaching 62.3% of the ownership (2) On August 18, 2020, the Company reported that Enel SpA increased its participation in Enel Américas S. A.´s shareholding through the acquisition of American Depositary Shares (ADS) and ordinary shares, having concentrated a 65% stake in Enel Américas S. A. (3) Enel Américas held a virtual Annual Shareholders' Meeting. On April 30, the Company held its Annual Shareholders' Meeting via the Internet for the first time. At the Meeting, the Chairman thanked the shareholders for their participation in the assembly despite the prevailing circumstances of the COVID-19 pandemic. The Meeting was held through live broadcasting systems and through a remote voting and assistance method. The Company's Board of Directors approved the possibility of participating as well as voting remotely in the Ordinary Shareholders' Meeting, as set out in General Standard No. 435 issued by the Financial Market Commission on March 18, 2020, in which companies were authorized to hold Shareholders’ Meetings through technology-based systems that would permit a remote participation of shareholders and remote mechanisms of intervention and voting. Pursuant to Circular Letter No.1. 141 issued by the FMC on 18 March 2020, said public authority ratified the use of technological means for remote participation and voting in shareholder assemblies and the remote participation of other persons who, by law and valid statutory and contractual regulations, are required to do so. US$504 million subscription and payment of capital increase in Enel Brasil On May 4, Enel Américas informed the FMC that it subscribed and paid an exclusively monetary capital increase in its subsidiary Enel Brasil S.A. (Enel Brasil), for the total amount of up to approximately BRL 2,820,101,060.85, equivalent to some US$504 million. This way, Enel Brasil, as the sole shareholder of the subsidiary Enel Distribución Sao Paulo S.A. (Eletropaulo Metropolitana Eletricidade de Sao Paulo S.A. or "Eletropaulo"), shall finance the latter to restructure its employees´ pension fund. Thanks to this operation, the use of the capital increase funds approved by Enel Américas´ Extraordinary Shareholders’ Meeting held on April 30, 2019 has been fully complied with. (1) (2) (3) Further details in Chapter 8 Annexes in the section Relevant or significance events dated 3 April 2020 reported to the FMC. This can be reviewed on page 453 of this report. Further details in Chapter 8 Annexes in the section Relevant or significance events dated 28 May 2020 reported to the FMC. This can be reviewed on page 455 of this report. Further details in Chapter 8 Annexes in the section Relevant or significance events dated 18 August 2020 reported to the FMC. This can be reviewed on page 455 of this report. Changes in guidance made in the 2020-2022 Strategic Plan. The Company reported in a Significant Event that the Strategic Plan mentioned macro elements for the 2020 – 2022 triennium, as well as EBIDTA and CAPEX forecasts. It was said at that time, that the contents of the strategic plan followed and were based on forecasts of hypotheses that might or might not come true in the future. In view of the 2020 situation, in particular in view of factors such as the fluctuation of exchange rates in which the Company and its subsidiaries carry out their transactions, as well as the effects of the COVID-19 pandemic, significant changes in the macro elements included in this Strategic Plan are expected and forecast to occur as far as the 2020 financial year is concerned. Enel Américas ADSs are included in BDR unsponsored program. On October 28, Enel Américas S.A. was informed that its ADSs were included in an unsponsored Brazilian Depositary Receipts (BDR) program. The BDRs are issued as an investment alternative in the Company in the Brazilian market and, as their underlying asset, use the American Depositary Receipts (ADSs) that the Company issues. This way, the rights of BDR holders derive from the rights of the underlying ADSs and it is the depositary bank of the BDRs – Bank B3 – that bears the commercial and legal relationship with the BDR holders. In view of the unsponsored nature of this BDR program, the Company informs that it has not entered into any contract for the issuance of the BDRs and, consequently, has not entered into any obligations in the Brazilian market. As a result, the ADSs issued by the Company may not only be traded on the New York Stock Exchange (NYSE), but once converted into BDR, also on the Sao Paulo State Stock Exchange (Bovespa). 17 Annual Report Enel Américas 2020Merger for the acquisition of unconventional renewable energy subsidiaries that Enel Green Power SpA owns in Central and South America September 21, 2020 The Board of Directors of Enel Américas S.A. unanimously decided to launch a merger aimed at the acquisition - by Enel Américas - of the unconventional renewable energy subsidiaries owned by Enel Green Power SpA,, a related company, in Central and South America (except Chile). The aim is to optimize Enel Américas´ financial structure and support the future growth of the aforementioned subsidiaries. The referred to acquisition will be carried out through a merger by incorporation, in which Enel Américas shall integrate into its assets a company that will own the shares currently owned by Enel Green Power in unconventional renewable energy companies located in Argentina, Brazil, Colombia, Peru, Costa Rica, Guatemala and Panama. In its strategic analysis, the Board of Directors of Enel Américas recognizes that, in the current context of the region, renewable energy is strongly increasing its presence and unequivocally changing the traditional competitive model in the energy sector. For Enel Américas to continue to strengthen its growth strategy, capturing all future opportunities and consolidating as the player that will lead energy transition in the Central and South American region, it is highly recommended to consolidate the stakes in unconventional renewable energy companies within its perimeter of action as described in the previous paragraph. The consolidation of this unconventional renewable energy business within the Company's current perimeter will lead to a fully integrated group in operational terms, and the Company would become a leader with diversified generation technology, present in the generation and distribution businesses, developing innovative, digital products and advanced energy solutions. This new diversification, which will also mean an extended geographical presence, will offer the Company's shareholders access to cash flows from a new and promising business, keeping Enel Américas financially sound and permitting it to continue to capture other attractive growth opportunities in Central and South America. 1818 The incorporation of the aforementioned business in Central and South America (except Chile), will give the Company immediate access to the know-how and proven experience of Enel Green Power, a global leader in renewable energies, preserving the financial discipline that has always characterized the Enel Américas Group. To explore the interest of Enel SpA, its controller, in this proposed integration, the Board of Directors of Enel Américas requested that this Company, own controller and Enel Green Power SpA, express its opinion on the subject. Enel SpA answered on September 21, highlighting its interest in the proposed integration, provided that it were to be carried out at market prices and through a transaction, such as the Merger, that would guarantee Enel Américas to maintain a financial position that would sustain not only the future development of renewable energy projects, but also the Company’s growth prospects. In any case, Enel SpA stated that the letter was not a binding decision, reserved for when all the terms of the transaction were defined. To make this merger feasible, it was necessary to submit to Enel Américas´ shareholders' meeting the possibility of eliminating the concentration limits established in its by- laws pursuant to Title XII of D.L. 3,500, which prevented any person from concentrating more than 65% of Enel Américas´ voting capital, among other limitations. Furthermore, said assembly approved the Merger as an operation with related parties as defined by Title XVI of the Law on Publicly Traded Corporations, which required the appointment of independent evaluators. The Board of Directors and the Directors´ Committee of Enel Américas, in their corresponding regular sessions, nominated, respectively, Banco Santander and Banchile Asesoría Financiera S.A. as independent evaluators of the aforementioned merger, as an operation between related parties. Furthermore, the Board of Directors nominated Pablo D'Agliano as an independent expert of the operation, as required by the Law on Publicly Traded Corporations. September 22, 2020 The Company offered a presentation regarding the proposed transaction, to which all local and foreign investors, shareholders, and the market in general, had 134562A Look at Enel AméricasMetricsEnel Américas´ BusinessesRisk Strategy and ManagementCorporate Governance 2020 Managementaccess. Further details are available on the Company's The transfer of the subsidiaries from EGP Américas to Enel website, in the Investors/EPG Merger Proposal in the Américas S.A. through the Merger is estimated to take Américas section. during the second quarter of 2021. The Subsidiaries to be integrated into Enel Américas S.A. through the Merger October 9, 2020 Enel Américas reported on the Merger: "We have learned would be the companies indicated in the Significant Event issued on October 28, 2020 and which can be found in that Enel SpA, Enel Américas´ controller, has acquired a detail in Annex 8.4 Significant Events of this Annual Report company in Chile called EGP Américas SpA (EGP Américas), and, furthermore, on the Company's website, in the section which would have the ownership and control of the previously Investors/Merger Proposal EPG Enél Américas. mentioned renewable energy subsidiaries and which would be absorbed by Enel Américas." Information on the company, its background and aspects linked to the Merger were published on the website. November 6, 2020 As established by the Board of Directors of Enel Américas S.A. and having received the following reports concerning the Merger operation through which Enel Américas will As part of the information included on that website readers absorb EGP Américas SpA and, consequently, absorb can find the Resolution of the Single Administrator of EGP unconventional renewable energy generation subsidiaries Américas dated October 1, 2020, which approved the that Enel Green Power (Italy) owns in Central and South appointment of David Jana Bitrán as an independent expert America (except Chile), the following has been made for the Merger. available to the shareholders: October 28, 2020 The Company reported the delivery of the following additional information: • Final Report issued by the independent evaluator appointed by the Board of Directors of Enel Américas, Banco Santander, regarding the conditions of the Merger Operation, its effects, and its potential impact on Enel The Merger through which Enel Américas S.A. will absorb Américas. EGP Américas SpA and, consequently, incorporate the subsidiaries that the latter shall have, requires some • Final Report issued by the independent evaluator preparatory actions. Such preparatory actions shall be appointed by the Committee of Directors of Enel carried out directly by Enel SpA, Enel Américas S.A.´s Italian Américas, Banchile Asesoría Financiera S.A., regarding parent company and without its intervention, since they the conditions of the Merger Operation, its effects, and its are an internal reordering of the latter: potential impact on Enel Américas. Division of Enel Green Power SpA - Italian subsidiary, fully • Final Report issued by Mr. Pablo D'Agliano, independent owned by Enel SpA- and the creation of a new Italian expert appointed by Enel Américas, in relation to company, the result of the division, called Enel Rinnovabili the value of Enel Américas and EGP Américas SpA, Srl - Italian subsidiary fully owned by Enel SpA - to which the companies to be merged, and the relation of the the subsidiaries will be assigned, and: share redemption of the aforementioned companies and the corresponding proforma balance sheet, within the International merger by which EGP Américas SpA - a framework of the Merger Operation. Chilean subsidiary fully owned by Enel SpA- will absorb Enel Rinnovabili Srl. Enel SpA, as the sole shareholder of • At the same time, it has been reported that the Company Enel Rinnovabili Srl and EGP Américas SpA, will approve has been informed of the Final Report issued by Mr. that international merger. David Jana, independent expert appointed by EGP Américas SpA, related to the value of Enel Américas and The transfer of the subsidiaries from Enel Rinnovabili Srl EGP Américas SpA the companies to be merged, and the to EGP Américas SpA, through the international merger, relation of the share redemption of the aforementioned is expected to take place during the first quarter of 2021, companies and the corresponding proforma balance therefore it will be a condition precedent for the approval sheet. This report was from the EGP Américas SpA of the Merger to become legally effective. website: https://www.enelgreenpower.com/es/paises/egp- 19 Annual Report Enel Américas 2020Américas, where it is published. Finally, it was reported The above, notwithstanding the capitalizations or that on November 13 there was a presentation regarding adjustments that correspond to the share capital in the reports, as well as the other matters related to the accordance with the law, including the capitalization Merger Operation which all local and foreign investors, of the highest value obtained from the placement of shareholders, and the market in general could access. agreed shares issued at the Extraordinary Shareholders’ Meeting held on April 30, 2019. November 12, 2020 It was reported that at an extraordinary session, the Board The agreements reached at the Shareholders´ Meeting of Directors of Enel Américas S.A., unanimously agreed in relation to this item shall be subject to compliance to call for an Extraordinary Shareholders’ Meeting of Enel with all conditions precedent set out in in the document Américas on December 18, 2020. The subjects to be referred to as the “Terms and Conditions of the Merger” discussed are as follows: and shall become effective on the date indicated in that document for these purposes. 1) Merger. Pursuant to the terms of Title IX of Law No. 18.046 on Publicly Traded Corporations and paragraph 2) Operation with Related Parties. Approve the Merger, 3 of Title IX of the Regulations of Publicly Traded pursuant to the terms of Title XVI of Law No. 18.046 Corporations approve the operation consisting of the on Publicly Traded Corporations, as an operation with Merger by incorporation of EGP Américas SpA ("EGP Related Parties. The above, taking into consideration Américas") into Enel Américas (the "Merger"), whose aim the following information that serves as the basis and is to permit Enel Américas to control and consolidate which, since before or as if this date, has been made the ownership of the business and unconventional available to the shareholders at the registered domicile renewable energy generation assets that Enel Green (Santa Rosa 76, Piso 15 (Investment Management), Power S.p.A. develops and owns in Central and South Santiago, Chile and on the website of Enel Américas. America (except Chile). The Merger, the capital increase associated with it, the redemption ratio, the information used as the basis and the specific terms and conditions November 26, 2020 The Board of Directors of Enel Américas S.A. agreed to of the Merger are described in the document entitled update the document entitled "Terms and Conditions of “Terms and Conditions of the Merger”. the Merger" regarding the compliance with the conditions precedent for the Merger to take place and the preservation The exchange ratio will be 0.43 Enel Américas of value between the companies to be merged. shares for each EGP Américas share, or another one established by the Meeting within a range of between 0.41 and 0.45 Enel Américas shares for each EGP December 1, 2020 In relation to the Merger operation through which Enel Américas share; in all cases, share fractions shall not Américas will absorb EGP Américas SpA and, consequently, be considered. incorporate the unconventional renewable energy generation subsidiaries that Enel Green Power (Italy) owns This way, to complete the Merger, we propose to issue in Central and South America (except Chile), the Company´s 32,717,113,745 new Enel Américas shares, or another Management published a presentation with additional amount established by the Shareholders´ Meeting, all information regarding the proposed operation, available to of which will be fully subscribed and paid and charged shareholders and the market in general on the website. to the incorporation of EGP Américas´ assets on the date on which the Merger becomes effective. The new shares issued will be allocated in full to EGP Américas´ December 17, 2020 A communication sent by Enel SpA, our parent company, shareholder or shareholders, according to the informed of the Company´s intention to launch a voluntary exchange ratio established by the Meeting, specifically public offer (for the acquisition of shares and American authorizing the Board of Directors to issue the new Depositary Shares (ADS) of Enel Américas for up to the shares resulting from the referred to capital increase. maximum of 10% of its current share capital (the OPA – 2020 134562A Look at Enel AméricasMetricsEnel Américas´ BusinessesRisk Strategy and ManagementCorporate Governance 2020 Management Spanish acronym). The OPA would be launched for the conditions has been verified, Enel Américas and EGP price of Ch$140 per share (or its equivalent in US dollars at Américas, will issue the same and unique declarative public the time of settlement, in the case of the ADS). deed, showing compliance with these conditions (the "Deed of Compliance with the Merger Conditions"), which must be The OPA offers shareholders the opportunity to sell their recorded on the margin the corporate registration of EGP shares at a price of more than Ch$109.79 per share which, Américas and Enel Américas in the Commerce Register pursuant to law, Enel Américas must offer shareholders of the Santiago Real Estate Registrar. The Merger shall who decide to exercise their right of withdrawal at the time become effective on the first day of the month following of the Merger. the date on which the Deed of Compliance with Merger Conditions is issued, unless the Deed of Compliance with As indicated by Enel SpA in the accompanying letter, the the Merger Conditions is issued after March 31, 2021, in OPA will not be launched if the Merger by incorporation of which case the effective date of the Merger shall be the day EGP Américas S.p.A. into Enel Américas and the amendment following the date the Deed of Compliance with the Merger of the Enel Américas by-laws is not completed before Conditions is issued. December 31, 2021. December 18, 2020 The Company’s Extraordinary Shareholders´ Meeting For the Merger to take place, the Meeting approved increasing Enel Américas' capital by US$6,036,419,845 issuing 31,195,387,525 new ordinary nominative shares, approved the Merger by incorporation of EGP Américas all the same series and without par value, which will be SpA (EGP Américas) into Enel Américas (the Merger). Under fully subscribed and paid from the incorporation of EGP the Merger, Enel Américas shall acquire all EGP Américas´ Américas´ assets, as an absorbed company once the assets and liabilities and replace it in all its rights and liabilities Merger takes place. To do this, 0.41 Enel Américas shares will allowing the Company to control and consolidate the be awarded for each EGP Américas share that would have ownership of the business and unconventional renewable the sole shareholder of the latter, without considering share energy generation assets that Enel Green Power S.p.A. fractions. Finally, according to article 69 of Law No. 18.046 develops and owns in Central and South America (except on Publicly Traded Corporations the Company reported Chile). At the same time, the Merger was approved as an that dissident shareholders of the Merger Agreement shall operation with related parties as defined by Title XVI of the have the right to withdraw from Enel Américas, upon Enel Law on Publicly Traded Corporations. Furthermore, to make Américas´ payment of the value of their shares. the Merger feasible, all proposed statutory changes were approved, including the elimination of articles established under Title XII of Decree Law 3.500 and particularly the one December 21, 2020 In connection with the Merger, which was approved by Enel which establishes that no shareholder can concentrate Américas shareholders at the Extraordinary Shareholders’ more than 65% of Enel Américas´ voting capital, except Meeting held on December 18, 2020, the Company informs for those related to the Investment and Financing Policy that it was informed that EGP Américas SpA (EGP Américas), that, as proposed by the Board, should be kept. The above- approved the Merger at the Shareholders' Meeting also indicated statutory amendments shall become effective held on December 18, 2020 under the same terms as together with the Merger. those approved by the shareholders of Enel Américas S.A., as published on the website of the company, https://www. The Merger is subject to the compliance with certain enelgreenpower.com/es/paises/egp-americas. copulatory conditions precedent agreed by the Meeting further detailed in the Terms and Conditions of the Merger The transaction took place on April 1, 2021, and as of that uploaded to the Company's website: www.enel Américas. date the economic effects described in the paragraphs com. Once the compliance with the approved suspensive above shall be registered in the Financial Statements. 21 Annual Report Enel Américas 20202 Corporate Governance 2222 23 Annual Report Enel Américas 2020Ownership and Control Ownership Structure The Company's capital is divided into 76,086,311,036 shares, with no par value, all the same and unique series, each share representing a right to vote. There are no preference shares on the part of the State. As of December 31, 2020, these were all the subscribed and paid shares whose ownership is distributed as follows: Shareholders Enel S.p.A. Pension Fund Managers Other local shareholders Foreign shareholders ADS Other shareholders Total Number of shares 49,456,102,073 10,907,561,581 3,125,035,102 8,734,417,888 2,581,827,078 1,281,367,314 Participation 65.00% 14.34% 4.11% 11.48% 3.39% 1.68% 76,086,311,036 100.00% Identification of Controllers As established in Title XV of Law No. 18.045, Enel Américas S.A. is an open limited company directly controlled by Enel SpA, an Italian company by shares, which, as of December 31, 2020, owns 65% of the shares issued by Enel Américas S.A. Enel SpA shareholders Ministero dell’Economia e delle Finanze de Italia Other investors (Institutional and Retail) Total Controlling members have no joint action agreement. Participation 23.6% 76.4% 100.0% 2424 134562Corporate GovernanceA Look at Enel AméricasMetricsEnel Américas´ BusinessesRisk Strategy and Management2020 ManagementTwelve Principal Shareholders As of December 31, 2020, Enel Américas had 23,255 shareholders. The 12 principal shareholders are listed below: Name or business name Enel SpA Citibank N.A. as per circular 1375 C.M.F. Banco de Chile on behalf State Street Banco Santander on behalf of foreign investors Banco de Chile on behalf of nonresident third parties AFP Habitat S.A. on behalf of Pension fund C AFP Provida S.A. on behalf of Pension fund C AFP Cuprum S A on behalf of Pension fund C AFP Habitat S A. Pension fund A AFP Capital S.A Pension fund C AFP Cuprum S. A Pension Fund A Banco de Chile on behalf of Citi N.A New York Client Subtotal 12 most important shareholders Other 23,243 shareholders Enel SpA Rut Number of shares 59.243.980-8 49,456,102,073 59.135.290-3 2,581,827,078 97.004.000-5 2,504,833,273 97.036.000-K 2,386,461,833 97.004.000-5 2,338,437,167 98.000.100-8 1,596,185,658 76.265.736-8 76.240.079-0 98.0001.00-8 98.000.000-1 76.240.079-0 97.004.000-5 1,167,229,051 884,645,686 844,386,193 844,161,718 666,515,530 647,819,023 - - 65,918,604,283 10,167,706,753 59.243.980-8 49,456,102,073 Participation 65.00% 3.39% 3.29% 3.14% 3.07% 2.10% 1.53% 1.16% 1.11% 1.11% 0.88% 0.85% 86.64% 13.36% 65.00% There are no shareholders who belong to the Company´s founding families as well as the governing or state entities that own the Company´s shares that exceed 5% of their property. Most important changes in Ownership During 2020, the most important changes in the ownership of Enel Américas were: Name or business name Enel SpA Citibank N.A. as per circular letter 1375 C.M.F. Banco Itaú Corpbanca on behalf of foreign investors Banco de Chile on behalf of non-resident third parties Rut No shares on 12/31/2020 No shares on 12/31/2019 Pp variation 59.243.980-8 49,456,102,073 43,568,705,287 59.135.290-3 97.023.000-9 97.004.000-5 2,581,827,078 5,063,569,028 273,386,918 3,826,905,816 2,338,437,167 3,470,280,340 Banco de Chile on behalf of State Street 97.004.000-5 2,504,833,273 - AFP Habitat S.A. 98.000.100-8 3,606,315,832 3,415,942,773 Banco Santander on behalf of Foreign Investors 97.036.000-K 2,386,461,833 2,746,735,699 76.265.736-8 2,263,094,030 2,395,480,947 AFP Provida S.A. AFP Cuprum S.A. AFP Capital S.A. JP Morgan Securities Inc. AFP Modelo S.A. Banco de Chile on behalf of Citi N.A. New York Customers AFP Planvital S.A. Banco de Chile on behalf of Citi London Customer 76.240.079-0 98.000.000-1 47.009.201-7 76.762.250-3 97.004.000-5 98.001.200-K 97.004.000-5 Banco Santander-HSBC Bank PLC London Customer account 97.036.000-K Santander Corredores de Bolsa Limitada Larraín Víal S.A. Corredora de Bolsa BTG Pactual Chile S.A. C de B Credicorp Capital SA Corredores de Bolsa 96.683.200-2 80.537.000-9 84.177.300-4 96.489.000-5 2,230,720,025 2,041,715,525 1,835,064,313 1,775,188,309 - 1,354,774,697 570,290,984 647,819,023 387,177,460 221,228,245 195,699,105 234,595,271 240,317,514 177,884,921 664,919,210 653,683,355 397,294,871 322,252,105 248,522,220 197,920,567 193,658,585 136,785,866 95,299,570 43,568,705,287 7.74 -3.26 -4.67 -1.49 3.29 0.25 -0.47 -0.17 0.25 0.08 -1.78 -0.12 -0.01 -0.01 -0.13 -0.07 0.05 0.06 0.05 -0.02 25 Annual Report Enel Américas 2020Stock Exchange transactions of related persons • On May 27, 2020, Enel SpA acquired 2,960,966 ADS from Enel Américas S.A., representative of 148,048,300 of the Company’s shares, corresponding to a 0.2% stake in the share capital. The total amount of the transaction was Ch$ 14,154,945,338. • On March 11, 2020, Director Patricio Gómez Sabaini • On June 10, 2020, Enel SpA acquired 1,249,848,795 acquired 60,000 Enel Américas ADS on the New York shares of Enel Américas S.A., corresponding to 1.64% Stock Exchange. The total transaction amount was share capital. The total transaction amount was Ch$417,944,220. Ch$ 162,480,343,350. • On March 16, 2020, 15,217,262 ADSs were acquired in • On June 19, 2020, Enel SpA acquired 182,607,100 the U.S. market and subsequently converted to local shares of Enel Américas S.A., corresponding to 0.24% stocks, totaling 760,863,100 shares, transferred by share capital. The total transaction amount was Citibank, ADS Depositary Bank, to Enel SpA. The total Ch$ 22,460,673,300. transaction amount was Ch$ 124,495,008,000. • On March 16, 2020, Director Patricio Gómez Sabaini from Enel Américas S.A., representing 650,625,350 acquired 40,000 Enel Américas ADS on the New York shares, corresponding to 0.86% share capital. The total Stock Exchange. The total transaction amounted to transaction amount was Ch$79,311,028,471. • On August 17, 2020, Enel SpA acquired 13,012,507 ADS Ch$ 238,046,503. • On March 20, 2020, Director Patricio Gómez Sabaini bought 50,000 Enel Américas ADS on the New York Stock Exchange. The total transaction amount was Ch$ 251,670,700. • On April 14, 2020, Enel SpA acquired 2,492,146. 691 of the Company´s shares by auction at the Santiago Synthesis of comments and proposals of the Directors´ Committee and shareholders Stock Exchange, corresponding to a 3.28% share Between January 1 and December 31, 2020, Enel Américas capital share. The total amount of the transaction was S.A. received no comments or proposals regarding the Ch$ 336,489,646,219. progress of corporate business, from the Directors´ Committee or shareholders who own or represent 10% or • On May 11, 2020, Enel SpA acquired 8,065,149 ADS more of issued shares with voting rights, pursuant to the from Enel Américas S.A., representative of 403,257,450 provisions of Article 74 of Law No. 18.046 and 136 of the of the Company´s shares, corresponding to a 0.53% Regulations of Publicly Traded Companies. capital share. The total amount of the transaction was Ch$ 61,418,464,642. 2626 134562Corporate GovernanceA Look at Enel AméricasMetricsEnel Américas´ BusinessesRisk Strategy and Management2020 ManagementCorporate Governance Structure BOARD COMPOSITION SHAREHOLDERS`MEETING AUDITING COMPANY 43% BOARD OF DIRECTORS (7 MEMBERS) DIRECTORS' COMMITTEE 57% INDEPENDENT NON-EXECUTIVE Functions: Auditing Committee Sustainability Committee Transactions with related parties (*) On November 9, 2020, Mr. Livio Gallo, resigned from the position of the Company´s Director, and to date, the Board has not appointed a replacement, and pursuant to the Law on Publicly Traded Companies (Law No. 18.046), the entire Board of Directors must be renewed at the next Ordinary Shareholders' Meeting held by the Company. Management Appointment Enel Américas is managed by a Board of Directors The Board was elected at the Ordinary Shareholders' composed of seven members, who remain in their Meeting held on April 30, 2019. Pursuant to the Law on functions for a period of three years and can be re-elected. Publicly Traded Companies, when a vacancy for the position The Company's Bylaws do not provide for the appointment of a director arises, the Board must be renewed in full at of Alternate Directors and provide that the Company must the Company´s next ordinary shareholders' meeting and, have a Chief Executive Officer, who shall be appointed by in the meantime, the Board may appoint a replacement. the Board of Directors and shall be given all the powers The existence of alternate members is not envisaged. relevant to a person holding a commercial position and The Company, prior to holding the shareholders' meeting, all those expressly granted him or her by the Board of publishes on its website the candidates’ curriculum vitae Directors. The position of CEO is incompatible with that of so that the Company´s shareholders will be informed the Company´s Chairman , Director, Auditor or Accountant. in a timely manner about the candidates´ capabilities, conditions, and experience. For more detail, please review the Bylaws 27 Annual Report Enel Américas 2020 Board of Directors The Ordinary Shareholders´ Meeting held on April 30, 2019 elected the Board of Directors for the period of three years. Below we list the people who form part of the current Board of directors (1): Board of Directors BD Board of Directors DIRECTOR Mr. José Antonio Vargas Lleras ID: 79.312.642 (*) Nationality: Colombian Date of birth: April 28, 1964 Date of appointment: April, 30, 2019 Board member as of April 28, 2016 Profession: Law Degree, Universidad Colegio Mayor del Rosario (Colombia) DIRECTOR Mr. Hernán Somerville Senn ID: 4.132.185-7(*) Nationality: Chilean Date of birth: February 11, 1941 Date of appointment: April 30, 2019 Board member as of July 29, 1999 (3) Profession: Law Degree, Universidad de Chile. Other studies: Master of Comparative Jurisprudence, University of New York Chairman of the Directors’ Committee DIRECTOR Mr. Patricio Gómez Sabaini ID: 16941675N (*) Nationality: Argentinian Date of birth: March 25, 1964 Date of appointment: April 30, 2019 Board member as of April 28, 2016 Profession: Bachelor's Degree in Business Administration; George Mason University, Virginia Other Studies: Master’s in Business Administration, George Washington University, Washington DC Member of the Directors’ Committee 2828 CH CHAIRMAN Mr. Francisco de Borja Acha Besga ID: 05263174-S (*) Nationality: Spanish Date of birth: February 17, 1965 Date of appointment: April 30, 2019 Board member as of June 30, 2015 (2) Profession: Law Degree, Universidad Complutense de Madrid DIRECTOR Mr. Enrico Viale ID: AU 2580379(*) Nationality: Italian Date of birth: September 21, 1957 Date of appointment: as of April 30, 2019 Board member as of April 28, 2016 Profession: Engineer, Universidad Politécnica de Turín Other Studies: MBA Business School, Santa Clara University DIRECTOR Mr. Domingo Cruzat Amunátegui ID: 6.989.304-K (*) Nationality: Chilean Date of birth: April 6, 1956 Date of appointment: April 30, 2019 Board member as of April 28, 2016 Profession: Industrial Civil Engineer, Universidad de Chile. Other studies: MBA The Wharton School University of Pennsylvania. Member of the Directors’ Committee Note: The detail to review the experience of the members of Board of Directors information can be found on the Enel Américas corporate website. (1) On November 9, 2020, Mr. Livio Gallo, resigned from the position of the Company´s Director, and to date, the Board has not appointed a replacement, and pursuant to the Law on Publicly Traded Companies (Law No. 18.046), the entire Board of Directors must be renewed at the next Ordinary Shareholders' Meeting held by the Company. (2) Initially elected as Director of Enersis Américas S.A., predecessor of Enel Américas S.A. (3) Initially elected as Director of Enersis S.A., predecessor of Enel Américas S.A. (*) Identity document: in the case of Messrs. Acha and Viale the number is their DI; for Messrs. Sommerville and Cruzat RUT identity number was used; for Mr. Vargas, the number is from a citizenship certificate and for Mr. Vargas. Gomez it is the passport number. 134562Corporate GovernanceA Look at Enel AméricasMetricsEnel Américas´ BusinessesRisk Strategy and Management2020 ManagementDiversity of the Board of Directors (*) Number of people by gender Female Male Total Number of people by nationality Chilean Spanish Argentinean Colombian Italian Total 0 6 6 2 1 1 1 1 6 Number of people by age range Between 41 and 50 years old Between 51 and 60 years old Between 61 and 70 years old Over 70 Total Number of people by seniority Less than 3 years Between 3 and 6 years More than 12 years Total 0 3 2 1 6 0 5 1 6 (*) On November 9, 2020, Mr. Livio Gallo, resigned from the position of the Company´s Director, and to date, the Board has not appointed a replacement, and pursuant to the Law on Publicly Traded Companies (Law No. 18.046), the entire Board of Directors must be renewed at the next Ordinary Shareholders' Meeting held by the Company. AGE DIVERSITY GENDER DIVERSITY 33% 50% 17% BETWEEN 51 AND 60 YEARS BETWEEN 61 AND 70 YEARS OVER TO 70 YEARS DIVERSITY BY SENIORITY 17% 100% 33% MALE FEMALE DIVERSITY BY NATIONALITY 17% 17% 83% 17% BETWEEN 3 AND 6 YEARS OVER 12 YEARS 17% CHILEAN ARGENTINEAN COLOMBIAN SPANISH ITALIAN 29 Annual Report Enel Américas 2020 Independent Directors Chilean regulations do not provide an accurate definition of who an independent director is. However, Article 50a of Law No. 18.046 offers the following criteria to define when Compensation of the Board of Directors and the Directors´ Committee a director is not considered independent: Pursuant to Article 33 of Law No. 18,046 on Publicly Traded Those who, at any time, within the last 18 months have April 30, 2020 approved the compensations of the Board been in any of the following circumstances shall not be of Directors and the Directors’ Committee for the 2020 Corporations, the Ordinary Shareholders’ Meeting held on considered independent: accounting period. The compensation of the Board of Directors is a fixed monthly payment, part at any event and 1) Those who have maintained any connection, interest or the other part per event. The compensation consists of 216 economic, professional, credit or commercial dependence, UF (development units or Unidades de Fomento in Spanish) of a relevant nature and volume, with the company, the other as the fixed monthly compensation at any event and 79.2 companies of the group of which it is part, its controller, UF as an attendance fee per each Board meeting with a or with the chief executives of any of the above, or those maximum of 16 sessions. The compensation of the Chairman who have been directors, managers, administrators, chief of the Board shall be twice the compensation of a Director. executives, or advisors thereof. 2) Those who have maintained a relationship of kinship of more than one Board of Directors of subsidiaries and/or up to the second degree of consanguinity or affinity, with associates or should he or she serve as Director or advisor the persons indicated in number 1) above. of other companies or legal entities in which Enel Américas 3) Those who have been directors, managers, receive compensation in one of those Board of Directors or S.A. has direct or indirect participation, he or she may only Should a director of Enel Américas S.A. participate in administrators, or executives of non-profit organizations Management Committees. that have received relevant contributions, assistance or donations from the persons listed in number 1). Enel Américas S.A. executives and/or those who work in the subsidiaries or associates will not receive compensations 4) Those who have been partners or shareholders who have or allowances if they become Directors of any of the owned or controlled, directly or otherwise, 10% or more of subsidiaries, associates, or companies participating in any the capital; directors; managers; administrators or chief form in Enel Américas S.A. However, such allowances may executives of entities that have provided legal or consulting be received by the executives if such a situation is previously services, in relevant amounts, or external audit services, to and expressly authorized as an advance of the variable part of the persons referred to in number 1). their remuneration to be paid by the respective companies 5) Those who have been partners or shareholders who have owned or controlled, directly or otherwise, 10% or more of The compensation of the Directors´ Committee is a fixed the capital; directors; managers; administrators or chief monthly payment, part at any event and the other part per executives of the company's main competitors, suppliers, event. The compensation consists of 72 UF as the fixed monthly to which they are linked by an employment contract. or customers. compensation at any event and 26.4 UF as an attendance fee per each meeting, with a maximum of 16 sessions. Under this criterion, Mr. Hernán Somerville Senn, Mr. Patricio Gómez Sabaini and Mr. Domingo Cruzat Amunátegui are The total remuneration expenses in 2020 were US$568,428 Independent Directors in Enel Américas. (Ch$449,581,577) and are detailed in the table below. The Board did not incur any additional expenses for external advisory services. 3030 134562Corporate GovernanceA Look at Enel AméricasMetricsEnel Américas´ BusinessesRisk Strategy and Management2020 ManagementBOARD COMPENSATION FOR THE 2020 PERIOD (AMOUNT IN US$) Name Francisco de Borja Acha (1) José Antonio Vargas Lleras (1) Livio Gallo (1) Enrico Viale (1) Hernán Somerville Senn Domingo Cruzat Amunátegui Patricio Gómez Sabaini Total Position Chairman Director Director Director Director Director Director Fixed Remuneration of the Board Ordinary and Extraordinary Board Sessions Fixed Remuneration of Committee Ordinary and Extraordinary Sessions of the Committee - - - - 94,016 94,016 94,016 - - - - 48,922 48,922 48,922 282,048 146,766 - - - - 31,356 31,356 31,356 94,068 - - - - 15,182 15,182 15,182 Total - - - - 189,476 189,476 189,476 45,546 568,428 (1) Messrs. Francisco de Borja Acha B., José Antonio Vargas Ll., Livio Gallo and Enrico Viale, waived the payment of remuneration for their current positions as managers in the Enel SpA group. The remuneration expenses for 2019 totaled US$621,804 (Ch$436,900,981) and are detailed in the table below. The Board of Directors did not incur any additional expenses in external consultancy services. BOARD COMPENSATION FOR THE 2019 PERIOD (AMOUNT IN US$) Name Francisco de Borja Acha (1) José Antonio Vargas Lleras (1) Livio Gallo (1) Enrico Viale (1) Hernán Somerville Senn Domingo Cruzat Amunátegui Patricio Gómez Sabaini Total Position Chairman Director Director Director Director Director Director Fixed Remuneration of the Board Ordinary and Extraordinary Board Sessions Fixed Remuneration of Committee Ordinary and Extraordinary Sessions of the Committee - - - - 102,832 102,832 102,832 - - - 56,552 56,552 56,552 - - - - 34,277 34,277 34,277 308,496 169,656 102,832 - - - 13,607 13,607 13,607 40,820 Total - - - - 207,268 207,268 207,268 621,804 (1) Messrs. Francisco de Borja Acha B., José Antonio Vargas Ll., Livio Gallo and Enrico Viale, waived the payment of remuneration for their current positions as managers in the Enel SpA group. Consultancy services expenses of the Board of Directors crime prevention model implemented by the Company in accordance with the provisions of Law No. 20.393, as well as other matters detailed in the Ethics and Transparency section. This instance permits the Board to analyze possible deficiencies in the Company´s Internal Control and Risk Management System that can be identified, as During 2020 and 2019 the Board did not incur any well as review the implementation of recommendations consultancy expenses. and improvement plans to mitigate the risks inherent in Effectiveness of the Board of Directors processes and operations. Meeting with Sustainability Management Meeting with Internal Auditors Each quarter, the Board of Directors meets with the Internal Audit area to analyze the Annual Audit Plan, monitor action plans, review the effectiveness of the Enel Américas considers the transparence of information as the basis of its public information and communication to the internal public and the Company's internal governance agencies. That is why we adopt the practice established in the General Standard (NCG in its Spanish acronym) No. 385 issued by the Financial Market Commission (FMC) related 31 Annual Report Enel Américas 2020 to the information reported by public limited companies on the local market in matters of corporate governance and incorporates the dissemination of practices related to social responsibility and sustainable development. Pursuant to the above, each quarter the Company's sustainability function reports to the Company's Board of Directors on the following issues: Meeting with the area of Social Responsibility, Sustainable Development The Board has approved the Sustainability and Diversity Policies. Furthermore, it has established formal procedures which aim to provide the public with information regarding the policies adopted each year by the Company on social responsibility and sustainable development. Based on sustainability and diversity policies, the Company has defined key indicators on diversity and inclusion, which are reflected in the report that the sustainability function presents to the Board on a quarterly basis. This report considers indicators of gender inclusion and inclusion of disabilities. In addition, the Board was informed that in terms of disability inclusion, a cross-cutting program was developed for all of Enel Américas lines of business and subsidiaries to identify barriers and integration plans. The initiative is the result of Enel's accession to the Valuable 500 program, a coalition of companies whose aim is to remove barriers to the inclusion of disabilities. Using specific goals and indicators the Company also measures gender inclusion. Each quarter the Sustainability Management department submits to the Board the following: a. The trends of downloads of the Company's sustainability report on the website as absolute values and in correspondence with public interest milestones relevant to the Company. b. Acceptance of public information based on the Company's positioning in the different ESG indices and ratings, such as DJSI (Dow Jones Sustainability Index), MSCI, FTSE4 Good, Sustainalytics, among others. Sustainability Policy: adopted by the Company on December 20, 2016 after the Board of Directors´ approval. This policy is uploaded onto the Enel Américas website. 3232 Stakeholders Enel Américas places stakeholders at the core of its sustainable business strategy. Each year, the Company develops a materiality analysis which is implemented in different stages. The results of the materiality matrix are reported to the Board of Directors and published in the Sustainability Report and in this Financial Report. Sustainability Risks Environmental, social, and corporate governance (ESG) risks are integrated into the business risk matrix and are reported by the Risk Management area to the Board of Directors. Sustainability Goals These are defined by key indicators at annual or triennial levels. Sustainability Management reports every quarter on progress indicators in compliance with established targets. Sustainability indicators Sustainability Management presents every quarter the results of the different business indicators with which the Company's ESG performance is measured. These indicators are identified according to the triennial sustainability plan, which considers targets and commercial goals focused on energy transition, social goals with the people working in the Company and communities in the areas in which we operate and, finally, the indicators related with four pillars that underpin the entire sustainable business: sustainable supplier chain, environmental sustainability, occupational health and safety, and sound governance. The 2020-2022 Enel Américas Sustainability Plan included 27 sustainability indicators. Management meetings with External Auditors The Board of Directors meets with the External Auditors every quarter, complying with the voluntary practice contained in the General FMC Standard f No. 385 to review matters related to the audit plan and other issues. 134562Corporate GovernanceA Look at Enel AméricasMetricsEnel Américas´ BusinessesRisk Strategy and Management2020 ManagementParticipation in Board meetings The Board of Directors has an electronic dispatch system at their disposal, which permits Directors to securely, remotely, and permanently access documentation related to Board sessions. The system is available at least three days prior to each session. It also aims to achieve paperless management of all documents made available to Board members. In relation to the members´ attendance at Board sessions, 17 such sessions were held in 2020, with an average 88% attendance by Directors. The minimum Ordinary and Extraordinary Board meeting attendance required is 75%. Of the total sessions mentioned, two were held in person and 15 were held virtually. Board Assessment Each year, the Company hires the advisory services of an external expert, who prepares a report aimed at detecting and implementing potential improvements or areas to • Updated copy of Law No. 18.046 on Publicly Traded Corporations, of the Regulations of Publicly Traded Corporations. • The Company´s bylaws and authorization system. • Management Manual of Information of Interest to the Market. • Code of Ethics, Plan of Zero Tolerance with Corruption. • Minutes issued by the Board of Directors and Shareholders' Meetings, corresponding to the respective sessions that took place in the previous 12 months, among others. The content of the above-mentioned documentation includes matters related to the Company´s business, strategies, and risks. This way, the new Director can access extensive information about the Company and not just the information that is most relevant. The induction procedure for new Directors is available on the Company's website. Board of Directors Training reinforce Enel Américas´ Board of Directors, in the light of The Company has a permanent training program for the best practices pursuant to the General Standard No. 385 Board of Directors, consisting of talks whose schedule is issued by the FMC. The methodology used to prepare this approved annually by the Board, and which address, among report considers interviews with Directors, Chief Executive other subjects, sustainability, innovation, and investments, Officers, the Company´s Legal Counsel, Internal Audit with the participation of leading experts on these Manager and External Auditors, regarding the operation subjects. Some of the issues covered in 2020 referred to of the Board, the preparation of the sessions and the "Responsible Investments", "Green Bonds Market" and discussions that take place during Board sessions, among "Innovation: Progress in Infrastructure and Networks, other relevant issues. Introduction of the Board of Directors The Company has established an induction procedure for new Directors in matters deemed necessary for Generation and Services", among others. The calendar of the Board's ongoing training program is available on the Company's website. Board of Directors visit to the facilities. the correct exercise of their functions. The induction Since 2017, the Board of Directors has made at least two procedure facilitates the Directors´ effective and annual visits to a unit or a facility of the Enel Group, to informed integration into the Company´s business. The learn about the conditions and the operation of these induction consists of providing the new Directors with a units and facilities and the main functions and concerns set of relevant documents: of those who work there. In response to the extraordinary circumstances in 2020 because of the coronavirus • Updated copy of Law No. 18.045 on the Securities COVID-19 pandemic, the visits to the various facilities of Market. the subsidiary Enel Distribuição São Paulo, Brazil took place virtually in November. 33 Annual Report Enel Américas 2020Improvements to Corporate Governance Practices To further raise the Company's already high standards in relation to corporate governance, social responsibility, and Committees Board of Directors´ Committee sustainable development practices, the Enel Américas´ The Company's leadership and direction in Enel are Board of Directors agreed in 2020 to implement new inspired by the best international practices. The Directors´ practices and procedures, regarding those contained in the Committee is concerned with and aims to create value General Standard No. 385 issued by the Financial Market for all shareholders, in the medium and long term, also Commission. In sustainability matters, these are further considering the social relevance of the activities that the detailed in point 15 of the Directors´ Committee Report. Group is committed to. Regarding the Company's relationship with shareholders In accordance with the provisions of Article 50a of Law No. and the public in general, Enel Américas´ Board of 18.046 on Publicly Traded Corporations, Enel Américas Directors, at an ordinary session held on September 21, S.A. has set up a Directors´ Committee composed of three 2020, agreed to approve a procedure that permits the members, who have the powers and duties referred to in Company's Shareholders' Meetings to be held through said article and those that are given to them by the Board virtual or non-face-to-face systems, so that shareholders of Directors, and which are contained in the Regulations of can participate and vote remotely, and also the public in the Directors´ Committee. general can learn in real-time of the agreements adopted at the Shareholders' Meetings. On June 29, 2005, the Company Board of Directors created an Audit Committee, composed of three directors who are Regarding the identification of new talents in the Company, also Board members, as required by the Sarbanes-Oxley the Board of Directors has agreed to implement training Act and NYSE corporate governance rules. Subsequently, programs, managed by the People and Organization on April 22, 2010, at the Extraordinary Shareholders' Management department, aimed at identifying and Meeting, the Company´s by-laws were amended, and the training new talent found amongst the Company's Audit Committee merged with the Board Committee. professionals, to develop the skills, knowledge, and experiences of Enel Américas professionals, along with At an ordinary session of the Board of Directors held on promoting future leaderships. Enel Américas ownership April 30, 2019, Mr. Hernán Somerville Senn, Mr. Patricio Gómez Sabaini and Mr. Domingo Cruzat Amunátegui were appointed members of the Directors´ Committee, as established by Article 50a of Law No. 18.046 on Publicly Traded Corporations and the Sarbanes Oxley Act and supplementary legislation. Mr. Hernán Somerville Senn As of December 31, 2020, Director Mr. Patricio Gómez was appointed the Board of Directors´ Financial Expert. At Sabaini directly owns 150,000 ADS equivalent to 7,500,000 the same time, at an ordinary session of the Directors´ Enel Américas S.A shares and Director Mr. Hernán Somerville Committee held on April 30, 2019, Mr. Hernán Somerville Senn is the controller of Inversiones Santa Verónica Senn was appointed Chairman of the Directors´ Limitada, which owns 6,689,400 of the Company’s shares. Committee and Mr. Domingo Valdés Prieto, Secretary of the same committee. 3434 134562Corporate GovernanceA Look at Enel AméricasMetricsEnel Américas´ BusinessesRisk Strategy and Management2020 ManagementOn June 25, 2020, Enel Américas´ Board of Directors, in order to further improve the already high standards of At the ordinary session held on May 4, 2020 the Directors´ corporate governance practices referring to sustainability Committee unanimously declared having reviewed the management and positioning among investors and Company´s Consolidated Financial Statements as of March sustainability analysts, agreed to delegate sustainability 31, 2020, together with their Notes, Income Statements functions to the Directors´ Committee, a body entirely and Significant Events, as well as the reports of the External made up of independent directors, to monitor and track Auditors and the Account Inspectors on this matter. sustainability-related matters in the Company. At an ordinary session held on April 30, 2020, the The Board delegated to the Directors´ Committee, a Directors´ Committee unanimously declared that the body that already operates within a permanent structure Financial Statements elaborated under IFRS principles and within a defined and periodic timetable, certain had been incorporated into Form 20-F to be presented functions related to sustainability, to support the Board to the US Securities and Exchange Commission (SEC) to with recommendations and consultative functions, to comply with the regulations and requirements issued by evaluate decisions related to the Company´s sustainability, said public authority. supervising and promoting Enel Américas S.A.´s sustainability commitment. At an ordinary session held on July 28, 2020, the Directors´ Committee unanimously declared having examined the Some of the delegated functions included, among others, Company's Consolidated Financial Statements as of June reviewing the Sustainability Report and Plan prior to its 30, 2020, together with its Notes, Press Release, Income final approval by the Board and also the oversight of the Statements and Significant Events, as the limited audit Company's participation in sustainability indices. review report of the External Auditors issued "without Annual Report of the Board of Directors´ Committee The Directors´ Committee held 16 session in 2020. The average director´s attendance at the sessions of the Directors´ Committee in 2020 was 100%. In 2020, the Directors´ Committee addressed the matters that lie within its sphere of competence, fully complying with the obligations set out in Article 50a of Law No. 18.046 on Publicly Traded Corporations and the US Sarbanes Oxley Act and other applicable regulations. 1. Consolidated Financial Statements The ordinary session of the Committee held on February 26, 2020, unanimously declared having reviewed the Company´s Consolidated Financial Statements as of December 31, 2019, together with their Notes, Income Statements and Significant Events, as well as the reports of the External Auditors and the Account Inspectors on this matter. exception" on July 28, 2020, signed by Mr. Nolberto Pezzati, partner of KPMG Auditors Consultores SpA. At an ordinary session held on November 4, 2020, the Directors´ Committee unanimously declared having examined the Company's Consolidated Financial Statements as of September 30, 2020, together with its Notes, Income Statements, Significant Events, and the report on related party operations prepared by external auditors. 2. Review of services to be offered by External Auditors. The ordinary sessions held on March 31 and September 21 both in 2020, analyzed the services provided by the Company´s external auditors but which were not part of a recurring external audit. The committee unanimously agreed to declare that they did not compromise the technical reliability or the independence of judgment of the respective external auditing companies, pursuant to Section 202 of the Sarbanes Oxley Act, article 242, final subsection, of Law 18.045 on the Securities Market and in the Regulations issued by the Directors’ Committee. 35 Annual Report Enel Américas 20203. Review of operations between related parties. 4. Supervision and Evaluation of External Auditors. During the 2020 financial year, the Directors´ Committee At an ordinary session held on February 26, 2020, the examined the following operations between related parties: Committee unanimously agreed to declare reasonable the work of the Company's External Auditors, EY Audit SpA, i. At an ordinary session held on April 30, 2020, the Directors´ carried out during the 2019 financial year. Committee examined the operation consisting of structuring and obtaining new financing for the Company, totaling up to US$300 million, plus expenses, commissions, and taxes, to be obtained through credit 5. External Auditors´ report on money orders and brokerage contracts with different relevant national and international At an ordinary session held on February 26, 2020, the banking institutions. At that session, it was indicated that Directors’ Committee unanimously agreed to register that the tranche to be awarded by Enel Finance International they had formally and expressly received the report on ("EFI"), for a total of up to US$150 million, should be money brokerage and money orders prepared by EY Audit considered an operation with a related party, since EFI is SpA, the Company´s external auditors, issued on February part of the same business group which is part of the Enel 26, 2020. The Committee also indicated that even though Américas S.A. Habituality Policy. the regulation issued by the FMC was no longer in place, the legal obligation which indicates that companies which ii. At an ordinary session held on November 26, 2020, the have not been formally authorized by the competent committee examined the transaction consisting of the public authority may not carry out private commercial procurement of one or more bank loans, totaling up to activity reserved for banks or carry out money brokerage US$1 billion, plus expenditure, commissions, and taxes. transactions was still valid. The aim was to obtain the funds through credit contracts with different relevant national and international banking institutions. The session indicated that regarding the tranche to be awarded by Enel Finance International 6. Review of the internal control letter – FMC Official Notification No. 422 (EFI), a total of up to US$500 million corresponded to an The Directors’ Committee discussed this issue during the operation with a related party, since EFI is part of the same session held on February 26, 2020. On December 6, 2007, business group and that it is part of Enel Américas S.A.´s the Financial Market Commission (FMC) issued Official Habituality Policy. Notification No. 422, complementing Notification No. 980 issued on December 24, 1990. The Notification provides iii. At an ordinary session held on December 15, 2020, specific instructions regarding internal control procedures, the Directors´ Committee considered the operation providing an interim report and extending the period consisting of a contract for the supply and use of indicated in Notification No. 980 for internal auditors to "Nasdaq" software licenses and services between Enel submit the final internal control report, indicating that it Américas S.A., as a recipient, and Enel SpA, as a supplier, should be handed in no later than the date on which the totaling 13,600 Euros and for a period of one year, with Board of Directors is informed of the financial statements the possibility of an automatically renewal for equal for the period ending on December 31 of each year. and successive periods; the Committee declared the transaction an operation with a related party, since Enel Mr. Hernán Somerville Senn, Chairman of the Directors’ SpA is part of the same business group and it is part of the Committee, indicated that these regulations were revoked, Enel Américas S.A. Habituality Policy. however despite the revocation, article 246 of Law on the Securities Market, among other subjects, established that external audit should inform the Board and the Directors’ Committee of any deficiencies detected in external audits in order to adopt and maintain standard accounting practices, system management and internal audits, identify 3636 134562Corporate GovernanceA Look at Enel AméricasMetricsEnel Américas´ BusinessesRisk Strategy and Management2020 Managementdiscrepancies between accounting principles related Board to suggest the following order of precedence for the to financial statements and relevant criteria generally nomination of the external auditors´ firms for Enel Américas applied in the industry where the Company carries out its for 2019 at the Ordinary Shareholders´ Meeting: 1st KPMG business, as well as the compliance with the Company’s Auditores Consultores; Mazars Auditores Consultores; 3rd and its subsidiaries´ tax obligations included in the referred PKF Chile Auditores Consultores Ltda and 4th ARTL Chile external audit, therefore the necessity to inform internal Auditores Ltda. control situations detected by EY was still required. The fundamentals considered relevant when proposing He added that the aforementioned revocation when it was KMPG in the first place as Enel Américas S.A.´s external issued did not affect the submission terms mandated by auditors were as follows: (i) KPMG Auditores Consultores General Standard No. 30 for the provision of Financial SpA presented the most competitive proposal according Statements (FS) and, therefore, it was necessary to to the verified technical and economic evaluations among understand that the internal control report was part of the the proposals received; (ii) The firm is highly qualified in information to be provided by external auditors during the terms of available resource quality and it has an extensive first quarter of each year, together with the review and the experience in the electricity sector; (iii) It is one of the four approval of the annual Financial Statements. As such, at the most important external audit firms both internationally ordinary session held on February 26, 2020, the Directors’ and nationally; (iv) It is the external audit company with Committee unanimously agreed to register and confirm the highest level of synergy with Enel Américas S.A., since that they had been formally and expressly informed they KPMG Auditores Consultores SpA is also the main external had to comply with the aforementioned regulation through auditor of Enel Américas S.A. given that it is the external the Internal Control Letter issued on February 26, 2020 and auditor of Enel SpA., Enel Américas S.A. controlling entity. prepared by EY Audit SpA to comply with said regulation. 7. External Auditors´ review of matters covered in the General Standard No. 385 10. Proposal of private risk rating agencies At the ordinary session held on February 26, 2020, the Directors’ Committee unanimously agreed to ask the At the ordinary sessions held on February 26, 2020, Board of Directors to suggest to the relevant Shareholders´ April 30, 2020, July 28, 2020 and November 26, 2020 the Meeting Feller Rate Clasificadora de Riesgo Limitada Committee unanimously confirmed having reviewed the and Fitch Chile Clasificadora de Riesgo Limitada as the matters referred to in paragraph 1 d) of the FMC General Company´s national risk rating agencies; and the firms Standard Regulation No. 385 as presented by the External Fitch Ratings, Moody’s Investors Services and Standard & Auditors, who emphasized that none of the hypotheses Poor International Ratings Services as private international described in sections ii), iii) and v) of the referred to number risk rating agencies, for the 2020 financial year. had occurred. 8. External audit contract between Enel Américas S.A. and y KPMG Auditores Consultores SpA for fiscal year 2020. 11. Analysis of Complaints Filed on the Ethics Channel At the ordinary sessions held on January 23, June 25, and December 15, all in 2020, the Directors’ Committee unanimously issued their opinion on the complaints At an ordinary session held on May 28, 2020, the Directors´ report submitted by the Audit Manager, which includes all Committee unanimously declared the contract to be signed complaints received through the Ethics Channel and which between Enel Américas S.A. and the External Auditors were analyzed in each period. The Committee provided KPMG Auditors Consultores SpA examined and approved. guidance on the corrective measures to be implemented. 9. Proposal of External Auditors It is also the responsibility of the Chairman of the Directors´ Committee to call for an extraordinary session should, in his view, such a complaint justify a call for an extraordinary At the ordinary session held on March 31, 2020, the session. No extraordinary sessions related to this matter Directors’ Committee unanimously agreed to ask the were held during 2020. 37 Annual Report Enel Américas 202012. Self-evaluation and review of the Company's internal control At an ordinary session held on 26 February 2020, the Directors´ Committee considered examined the final internal control report for the 2019 financial year, prepared by the Company's management. Enel Américas´ Board of Directors in a session held on June 25, 2020 agreed to delegate sustainability functions to the Directors´ Committee with the aim of supporting the Board with pro-positive and advisory functions in the evaluations and decisions regarding the Company´s sustainability. The Committee would also supervise and promote Enel Américas S.A.´s commitment in these matters. 13.Review of the remuneration system and compensation plans of the Company's managers, senior executives , and employees. At an ordinary session held on June 25, 2020, the Directors´ Committee unanimously declared having reviewed the remuneration systems and compensation plans of the Company's managers, senior executives , and employees. 14. Budget proposal of the Directors´ Committee for the 2020 financial year. At an ordinary session held on February 26, 2020, the Directors´ Committee unanimously approved the Directors´ Committee budget proposal for the 2020 financial year. It would consist of the amount of 10,000 UF (Development Units or Unidades de Fomento) for the Committee´s operating expenses as well as their advisers. Furthermore, the Directors´ Committee unanimously decided to submit the aforementioned proposal for the consideration of the next Ordinary Shareholders' Meeting of Enel Américas S.A., to be held in April 2020, so that it would ultimately establish its resolution according to its faculties. 15. Sustainability Measures. To further improve the already high standards in corporate governance practices related to sustainability management, 16. Others. At an ordinary session held on January 23, 2020 the Directors´ Committee unanimously declared having examined the payments made to external auditors by Enel Américas Group companies to various external audit firms during the 2019 financial year, making a distinction between recurring and non-recurring external audit services and services other than external audit services , concluding that they had not affected their independence or suitability. This way, and as stated in the report, the Directors´ Committee has fully complied with the obligations set out in Article 50a of Law No. 18.046 on Publicly Traded Corporations. Expenses of the Directors´ Committee The Directors´ Committee did not use any of the operating expense budget approved by the Ordinary Shareholders' Meeting held on April 30, 2020. Other Directors´ Committees The Company has implemented contingency plans aimed at reacting during critical events or crises, by setting up ad- hoc committees, which are made up of experts who can deal with the crises or the events in question. 3838 134562Corporate GovernanceA Look at Enel AméricasMetricsEnel Américas´ BusinessesRisk Strategy and Management2020 ManagementMain Policies Governance as a pillar of Enel Américas' strategy Focus on integrity Transparency and privacy of information The environment; commmunity and employees • Code of Ethics • Human Rights Policy • Plan of Zero Tolerance with Corruption • Global Compliance Program on Corporate Criminal Liability • Criminal Risk Prevention Model • Policy of information Privacy and • Sustainability and relationship with the Protection • Tax strategy and Reporting Community and Inclusion Policy • Environment Policy • Biodiversity Conservation • Diversity and Inclusion Policy Focus on integrity expressed through the Company´s Human Rights Policy. Therefore, the Company encourages its employees, contractors, suppliers, communities and business partners Enel Américas´ mission is to create and distribute value in the to adhere to this policy. The policy reflects the United international energy market, for the benefit of and to meet Nations guidelines known as "Protect, Respect and the needs of customers, the investment of shareholders, Remedy". The Company has adopted the Human Rights the competitiveness of the countries in which it operates Policy defined by the Enel Group, which is based on eight and the expectations of everybody who works for the principles that focus particularly on potential conflicts or Company. It aims to maintain and develop a relationship of risks in labor practices and relationship with the community. trust in all areas in which it carries out its work. Code of Ethics Zero Tolerance with Corruption Plan (ZTC Plan) This code is built on general principles regarding Enel Américas adheres to the United Nations Global relationships with those involved, Company values and Agreement and, as part of its commitment to the conduct criteria. The code provides the guidelines and tenth principle of the United Nations, plans to combat standards to which employees should adhere in order to corruption under a plan called "Zero Tolerance with comply with principles and to prevent the risk of unethical Corruption" (ZTC Plan). behavior. Furthermore, it identifies the mechanisms necessary to implement the compliance control system. The principles and provisions of the Code of Ethics are aimed for the members of the Board of Directors, the Global Compliance Program on Corporate Criminal Liability Directors´ Committee and other supervisory bodies of "Enel Global Compliance Program" or "EGCP" has been Enel Américas as well as the Group´s other companies, conceived as a tool that would permit to reinforce the in addition to the Company´s directors, employees and Company's commitment to the best ethical, legal, and workers associated with it by a contractual relation in any professional standards to increase and defend its reputation. form, including occasional or temporary contracts. This It establishes several preventive measures aimed at targeting applies to all affiliated or participating companies and all criminal responsibility in the business environment. suppliers and partners as they engage in a conduct in accordance with the general principles of this Code. The Code of Ethics is valid both in Chile and abroad. Free Competition Compliance Program Human Rights Policy The Free Competition Manual provides information and education to the Company's employees so that they can Enel Américas considers respect for human rights as detect risky situations in a timely manner and the way to one of its guiding principles and a constant commitment prevent them. In addition to the program and the manual, 39 Annual Report Enel Américas 2020a number of additional tools have been put in place which also include an active prevention program aligned with the Company´s commercial policies. Enel Américas Risk Management and Control Policy As part of the program the Company has implemented: Free Competition Manual; Free Competition Consultation Channel; Risk and Conduct Guide, Self-Certification Procedure of Each Management Area; Free Competition Training Program for the Company's employees; Monitoring Program on compliance with the Self-Certification Procedure; behavior procedure in case of dawn raids or incursions; Internal control of the "interlocking" figure. Criminal Risk Prevention Model The details of the Model can be accessed in sub-chapter “Ethics and Integrity” on page 44. Fiscal strategy Fiscal transparency: we strongly believe that fiscal transparency is another important dimension of sustainable finance. The revelation of our tax contribution in South American countries in which we operate on the company's websites highlights the importance that Enel Américas attaches to tax issues, its social role and, in general, to transparency as a factor promoting sustainable development. Transparency and privacy of information Corporate Governance Guidelines It is a set of decisions that the Company makes to establish the acceptable risk level limits inherent in its activity, in which the normal development of the business and the appropriate measures for the proper management, monitoring and control of such risks must be registered. Information Management Manual Transparency and honesty are intractable values of the Enel Américas family. Acting in good faith, putting general interests before one's own, is part of the essence of what is established in our Management Manual of Information of Interest to the Market. Other protocols • Protocol of Action in dealing with Public Officials and Public Authorities. • Protocol of Accepting and Offering Gifts, Presents and Favors. • Procedure to Replace the Chief Executive Officer and Other Senior executives . Environment, community, and employees As part of its corporate governance strategy Enel Américas has implemented principles, values, policies and procedures This document sets out the principles and guidelines on intended to promote the Company´s correct governance. which the Company's corporate governance is based. General Habituality Policy Biodiversity Policy It was approved by Enel Américas S.A.´s Board of Directors identifies six practices to be implemented in the development in a session held on June 28, 2017 and permits operations of the Company´s activities. These practices contribute with related parties, without the need to comply with the and are in line with international standards and principles requirements and procedures set out in numbers 1 to 7 of described in the UN Convention on Biological Diversity article 147 of Law No. 18.046 (CBD), the UN 2011-2020 Strategic Plan for Biodiversity and This policy was approved by the Board of Directors and 4040 134562Corporate GovernanceA Look at Enel AméricasMetricsEnel Américas´ BusinessesRisk Strategy and Management2020 Management the Aichi Goals for CBD Biodiversity, as well as other national and international biodiversity strategies. Through this policy, the Company promotes respect for the principle of "zero Sustainability and Community Relationship Policy net losses", with the correct project planning and preventive The aim of this policy is to declare and own a set of environmental assessment (no net loss) of biodiversity, principles and guidelines that would guarantee a real and avoiding, reducing and/or compensating for negative effective contribution to social, community, environmental impacts on relevant species and natural habitats, whether by and economic management, identifying and recognizing their degree of protection, representativeness indices and / the various cultural profiles present in communities, or ecosystem value. Environmental Policy Caring for the environment and natural resources, as well as fighting against climate change and contributing to sustainable economic development, are strategic factors establishing the meeting points and disruptions of our presence, to build a shared vision through a dialogue process or, at least compatible views, on the development of the territory where we are or want to be present. Diversity and Inclusion Policy in Enel Américas´ and its subsidiaries´ planning and Enel Américas is committed to respecting and promoting operation and it is also part of the Enel Group´s vision to the principles of arbitrary non-discrimination, equal lead in energy transition. opportunities and inclusion are fundamental values in the development of its activities. The Company seeks to The Environmental Policy, approved by the different Boards improve the work environment and make possible a better of Directors, has been part of the Group's environmental quality of life at work, which would lead to improvements in policy in force since 1996. The policy was updated in 2018 the Company´s results. To this end we have put in place a and is based on four basic principles: Diversity and Inclusion Policy that aims to establish the key principles required to disseminate a culture that pays heed • • Protect the environment by preventing impacts. to diversity and adds to its value. Improve and promote the environmental sustainability of products and services. • Create value shared between the company and its stakeholders. • Adopt and comply with voluntary commitments, promoting ambitious practices in environmental management. 41 Annual Report Enel Américas 2020Company Management Organigram C Chairman Francisco de Borja Acha Besga E Managments O CE ENEL AMÉRICAS S.A. Mauricio Bezzeccheri (*) INTERNAL AUDIT Raffaele Cutrignelli (*) ADMINISTRATION, FINANCE AND CONTROL Aurelio Bustilho de Oliveira (*) PEOPLE AND ORGANIZACTION Liliana Schnaidt Hagedorn COMMUNICATIONS Carolina Ricke Hunting LEGAL COUNSEL AND SECRETARY OF THE BOARD Domingo Valdés Prieto (*) ENEL X SOUTH AMERICA Simone Tripepi (*) PLANNING AND CONTROL Francisco Miqueles Ruz (*) (*) Chief executive 4242 134562Corporate GovernanceA Look at Enel AméricasMetricsEnel Américas´ BusinessesRisk Strategy and Management2020 ManagementEnel América´ Executive Team Chief Executive Officer Mr. Maurizio Bezzeccheri RUT: 26.490.357-2 Nationality: Italian Legal Counsel and Secretary of the Board Mr. Domingo Valdés Prieto (1) RUT: 6.973.465-0 Profession: Lawyer Universidad de Chile Profession: Doctor Cum Laude degree in Chemical Master´s Degree in Law Engineering Università di Napoli and R+D Development of Steam Generators University of Chicago (USA) Appointment date: April 30, 1999 Official Professional Qualification for Engineering Practice Appointment date: August 1, 2018 Internal Audit Officer Mr. Raffaele Cutrignelli RUT: 25.553.336-3 Nationality: Italian Planning and Control Officer Mr. Francisco Miqueles Ruz (2) RUT: 10.560.169-7 Nationality: Chilean Profession: Business Administrator Universidad Central Profession: Bachelor's degree in International Business Appointment date: February 26, 2020 Nottingham Trent University (UK) Master's Degree in Auditing and Internal Controls Enel x South America Officer University of Pisa (Italy) Mr. Simone Tripepi Certificates in Strategy, Innovation, Management and RUT: 25.067.660-3 Leadership Massachusetts Institute of Technology (MIT) Nationality: Italian Profession: Engineer Appointment date: October 1, 2016 Universita Degli studi di Roma “Tor Vergata” Appointment date: August 29, 2019 (1) They also hold the same positions in Enel Chile. (2) Francisco Miqueles took over on 26 February 2020 to replace Paolo Pescarmona. Administration, Finance and Control Officer Mr. Aurelio Bustilho de Oliveira Mr. Aurelio Bustilho de Oliveira RUT: 26.537.505-7 Nationality: Brazilian Profession: Business Administration University of Brasilia MBA from Universidad Federal Rio Janeiro/ COPPEAD Appointment date: October 1, 2018 43 Annual Report Enel Américas 2020Remuneration of Main Executives Benefits of main senior executives As a benefit, the Company maintains supplementary health insurance and catastrophic insurance for main executives In 2020, the remuneration and benefits received by the and members of their households who are accredited as Company's Chief Executive Officer and Main executives dependents. Furthermore, the Company has hired life totaled US$3,495 thousand in fixed remuneration and insurance policies for each chief executive. These benefits US$155 thousand in benefits. are granted in accordance with the management level of each employee at any given time. In 2020, the amount was In 2019, the remuneration and benefits received by the US$5,347, which is included in the remuneration received Company's Chief Executive Officer and Main executives by the senior executives . totaled US$2,255 thousand in fixed remuneration and US$21 thousand in benefits. These amounts include both managers and senior Incentive plans for managers and main executives executives present as of December of each year, as well Enel Américas has implemented an annual bonus plan for as those who left the company during the respective its executives for meeting targets and according to a level financial year. of individual contribution to the Company's results. This plan includes establishing bonus tranches according to the level of hierarchy. The bonuses offered consist of a certain number of monthly gross remunerations. Benefits based on the Chief Executive Officer´s specific objectives can be summarized graphically as follows: MACRO OBJECTIVE OBJECTIVE TYPE OF TARGET WEIGHT RANGE PROFITABILITY NET INCOME LATIN AMERICA EFFICIENCY OPERATING INCOME LATIN AMERICA CASH AND DEBT MANAGEMENT FFO LATIN AMERICA DIGITALIZATION LATIN AMERICA COVID-19 EMERGENCY SAFETY IN THE WORKPLACE BUSINESS BUSINESS SECURITY 4444 21 % 17 % 13 % 17 % 15 % 17 % ~50% 120 % maximum 120 % maximum 120 % maximum 120 % maximum 120 % maximum 120 % maximum ECONOMIC ECONOMIC FINANCIAL ESG ESG ESG 134562Corporate GovernanceA Look at Enel AméricasMetricsEnel Américas´ BusinessesRisk Strategy and Management2020 Management Compensation paid to managers and main executives. Brazil No compensation was paid for the years of service during 2020. Property in Enel Américas Enel Brasil Mr. Nicola Cotugno Mechanical Engineer Università di Roma, La Sapienza As of December 31, 2020, the Shareholders' Register Enel Green Power Cachoeira Dourada Mr. Fabio Destefani indicated that no chief executive filed ownership of any Electrical Engineer part of the Company. There are no requirements for Universidad Federal Fluminense the Chief Executive Officer and main executives to hold company-issued securities; what exists is an obligation to report the positions on such securities and transactions Enel Generación Fortaleza Mr. Raffaele Enrico Grandi in them, both pursuant to the Securities Market Law and Bachelor of Economic Sciences in the Company´s Manual of Information of Interest to Universidad de Génova (Italia) the Market. Main executives of the subsidiaries Enel Cien Mr. Guilherme Gomes Lencastre Production/Civil Engineer Pontificia Universidad Católica de Rio de Janeiro Argentina Enel Generación Costanera Mr. Pablo Gutiérrez Cerezales Industrial Engineer Universidad Europea de Madrid Enel Generación El Chocón Mr. Daniel Garrido Electrical Engineer Universidad Tecnológica Nacional Edesur Mr. Gianluca Palumbo Bachelor in Electrical Engineering Universidad de los Estudios Federico II di Napoli Central Dock Sud Mr. Juan José Marcet Electrical Engineer Universidad Tecnológica Nacional Masters in Business Administration Universidad de Palermo Enel Distribución Rio Mr. Artur Manuel Tavares Resende Computer Engineer Universidad Simón Bolívar/Venezuela Enel Distribución Ceará Mr. Charles de Capdeville Electrical Engineer Universidad de Santa Úrsula Enel Distribución Goiás Mr. José Luis Salas Rincón Electrical Engineer Universidad Rafael Urdaneta Enel Distribución São Paulo Mr. Max Xavier Lins Electrical Engineer Universidad Federal de Pernambuco Colombia Emgesa Mr. Marco Fragale Mechanical Engineer Politécnico de Milán 45 Annual Report Enel Américas 2020 Codensa Mr. Francesco Bertoli Mechanical Engineer Universidad de Brescia Perú Enel Distribución Perú Mr. Simone Botton Electrical Engineer Universidad de Bologna – Roma Enel Generación Perú Mr. Rigoberto Novoa Velásquez Electrical Mechanical Engineer Universidad Nacional de Ingeniería – Lima Executive committees Ethics and Integrity We work every day to improve the quality of life on the planet. The Enel Group shares the same objectives, vision, and commitment. The Enel brand is a visible sign of our unified global identity, in all latitudes, around the world and, in Enel Américas, we are not one more, we are part of Enel and part of the new way of managing energy, a task we can achieve by respecting our values: trust, responsibility, innovation, proactivity. Criminal Risk Prevention Model Since 2015, the Company has a Risk Committee, which aims an integral part of the values that build trust and to define the structure and processes of risk governance accountability with all the stakeholders. The value of transparency and ethical actions are to detect, quantify, monitor, and communicate all the relevant financial risks and those related to commodities, the Company´s commercial debt and credit status to the Board of Directors. The Risk Committee consists of: (i) Ethical Conduct and Criminal Risk Prevention Model Enel Américas´ Chief Executive Officer as Chairman of the Enel Américas is fully committed to complying with its Committee; (ii) the Administration, Finance and Control ethical standards and conduct, and the legislation in force Officer and (iii) the Planning and Control Officer. This in each of the countries where we operate, both in the Committee reports directly to the Board of Directors. internal and external relations with other stakeholders. The Company and its subsidiaries adhere to a Code of Ethics, approved by its Boards of Directors which guides the actions of our Directors, executives and employees and contractors. The code and the main documents that provide the framework for the Company´s ethical culture is delivered to employees, Directors, suppliers, and contractors, in addition to being published internally and on the website, permitting all stakeholders an easy access to its contents. The Company strictly adheres to the Law on Publicly Traded Companies which establishes the independence and non- existence of conflicts of interest within its criteria. The Company's Criminal Risk Prevention Model (CRPM) is built on the Code of Ethics, the Zero Tolerance with Corruption Plan, and the Enel Global Compliance Program. 4646 134562Corporate GovernanceA Look at Enel AméricasMetricsEnel Américas´ BusinessesRisk Strategy and Management2020 ManagementIn those companies that are not directly controlled, joint The Board of Directors is the body responsible for ventures, related companies or suppliers and contractors, overseeing the compliance with ethical standards and the the Company encourages the compliance with local prevention of criminal risks in the company, a task whose regulations and policies that are aligned with local monitoring and management is delegated to the Internal legislation and Enel Américas standards. Audit Management. This way, the Board approves the documents that make up the compliance system, including In 2020, Enel Américas and its subsidiaries also maintained the Criminal Risk Prevention Model, relying on the Crime and operated their communications and training plans Prevention Officer for the implementation. aimed at disseminating the main aspects of the compliance program and reinforcing employee and supplier culture. The Crime Prevention Officer has the necessary These plans are considered internal and external activities, organizational autonomy, authorization, and resources including inductions for new arrivals to the Company where to correctly carry out his duties. Periodically, the Board of new people receive specific training on the Enel Américas Directors evaluates and monitors the implementation and compliance system. improvement of programs at the level of the Company's processes, through sessions where the Crime Prevention In 2020, the Company obtained the ISO37001 Anti- Officer reports the main activities related to their Bribery Management System certification for the main implementation and correct functioning. Brazilian subsidiaries (Enel Brasil, ED Ceará, ED Rio de Janeiro, ED Goiás, ED Sao Paulo, Enel X Brasil, CIEN, and Enel Américas obtained in 2020 the external certification CGTF) and in Peru (Enel Generación Piura, Chinango on the Criminal Risk Prevention Model where an external S.A.C. and Enel X Perú S.A.C.). These companies join the entity authorized by the Financial Market Commission (FMC) Enel Américas certification (obtained in 2018) and the objectively accredited and evaluated the prevention system subsidiaries that have already been certified in Colombia, adopted and implemented by the Company in the face of Argentina, and Peru between 2018 and 2019. the requirements of Law No. 20.393. The certification was granted for two years (until mid - 2022), during which time In 2020, Enel Américas and its subsidiaries carried out Enel Américas shall be subject to constant evaluations. 182 training session involving more than 12,200 people, focused on corruption prevention and unethical conduct, This certification covers crimes incorporated into Chilean the use of the Ethics Channel, the ISO37001 Anti-Bribery Law No. 20.393 in 2018 and 2019, including crimes of Management System and, in general, knowledge of the corruption between individuals, unfair administration, Company's compliance system. incompatible negotiation, misappropriation, illegal fishing, water pollution, activities that involve prohibited products An exceptional 2020 event was the Ethics Week organized and activities with scarce fishery resources without the and carried out via electronic means in Chile. The event accreditation of their legal origin. highlighted the commitment of our employees, managers, It is worth noting that in 2020 the Board of Directors, specifically on the relationship of compliance programs senior administration and other areas of the organization with Corporate Governance and Sustainability. The week's completed the Criminal Risk Prevention Model review and events featured renowned external guests in Chile and suppliers, and directors to transparency and focused adequacy considering the amendments made to the law the region. between 2018 and 2019. This work was coordinated by the Crime Prevention Officer, Week at a local level, with training events, communication making it possible to update risks and specific controls activities and specific sessions aimed at reinforcing values, under the scope of the Criminal Risk Prevention Model transparency and the ISO37001 Anti-Bribery Management within all of the Company´s areas and processes and with System. The events were available to all employees, the support of external experts on the subject and the managers, directors, and suppliers. Furthermore, each country in the region held the Ethics Company´s Legal area. All Enel Américas subsidiaries have also implemented a Américas organized other instances of participation and compliance program in line with the Company's practices, collaboration with stakeholders and civil society, such as including country-specific regulatory requirements. Chile Transparente, Fundación Generación Empresarial, Finally, we would like to highlight that in 2020 Enel 47 Annual Report Enel Américas 2020Alliance for Integrity, Ethos Institute, the Colombian The ISO 37001 certification boosts stakeholder Secretariat of Transparency, Argentine Association of confidence in Enel Américas which, in 2018, became the Ethics and Compliance, among other organizations, to first South American multinational company listed on the share experiences and promote best practices within the New York Stock Exchange to obtain such certification. Company and externally, in terms of probity, organizational culture, ethical practices and business transparency. As part of Enel Américas' commitment to implementing Bribery and corruption prevention Anti-Bribery Management System Is in compliance with the tenth principle of the Global Agreement under which companies are committed to fighting corruption in all its forms, including extortion and bribery. Enel Américas complies with this commitment through the implementation and maintenance of the Anti-Bribery Management System pillars under the ISO37001 standard. It specifies several measures and best practices to help organizations prevent, detect and deal with bribery, along with meeting voluntary commitments made by Enel Américas. In the Company, this system focuses on identifying risks and designing, implementing, and improving conduct controls and standards in operations that are considered risky, such as negotiating and implementing contracts best practices worldwide, in 2020 Enel Américas, together with its subsidiaries Edesur (Argentina), Codensa and Emgesa (Colombia), and Enel Distribución Peru and Enel Generación Perú maintained their Anti-Bribery Management System certification under the international ISO 37001:2016 standard. In the same period, our Brazilian subsidiaries (Enel Brasil, ED Ceará, ED Rio de Janeiro, ED Goiás, ED Sao Paulo, Enel X Brasil, CIEN, and CGTF) and those in Peru (Enel Generación Piura, Chinango S.A.C. and Enel X Perú S.A.C.) obtained for the first time the ISO 37001 Anti-Bribery Management System certification. Enel Américas has participated in various national scenarios sharing its experience in the implementation of this relevant certification, as well as its deployment in the Company´s subsidiaries. Complaint Channels Complaint channels, protection of confidentiality with third parties, participating in public and private The Company has set up an Ethics Channel (Canal Ético) tenders, financial resources management, gifts and governed by the whistleblowing policy, which has been duly hospitality policies, staff selection processes, incentive communicated to the Company's employees. This channel mechanisms for management, among others. is available to employees, contractors, suppliers, customers, This Anti-Bribery Management System is part of the Enel subsequently investigated by the Audit Management Américas Compliance Program, where the Board of Directors department and reported to the Directors Committee. communities, and other stakeholders. Complaints are is its highest governing body and which, together with the Company's Senior Management, promotes the prevention of any type of bribery in daily activities and operations. 4848 134562Corporate GovernanceA Look at Enel AméricasMetricsEnel Américas´ BusinessesRisk Strategy and Management2020 ManagementManagement of the Complains Channel The complaints channel, managed by the Internal Audit department, but run externally, permits anonymous reporting of irregular behavior, contrary to the principles of the Criminal Risk Prevention Model, the Code of Ethics or other issues related to accounting, control, internal audit, or crimes such as money laundering, terrorist financing, bribery, corruption between individuals, reception of stolen goods, misappropriation, incompatible negotiation, environmental crimes, among others. This channel is governed by the Whistleblowing global policy No. 107, which guarantees the whistleblower´s anonymity and protection in case of retaliation and protection against allegations of bad faith. The complaints channel is available to employees, contractors, suppliers, clients, communities, and other stakeholders, with access available via telephone, face- to-face and digital means through the intranet and the Company's website. During the period, an important part of communications management and training focused on improving the use of the Ethics Channel through publications and training. The company tried to raise suppliers´ awareness of the channel at events through promotional deliverables and talks. In 2020, the Ethics Channel received a total of 93 complaints in all of Enel Américas and its subsidiaries related to the Code of Ethics. Of these, 21 were insignificant infringements – all duly managed according to the Company's Code of Ethics, in matters related to contract management, conflicts of interest and work environment. Enel Américas did not have any confirmed cases of corruption and bribery against the Company in the last 4 years.. KPI Complaints received Violations of episodes related to Conflict of Interest/Corruption Misuse of assets Working climate 6.0Community and society Other motivations UM 2020 n. n. n. n. n. n. n. 93 21 2 12 7 0 0 2019 110 25 4 7 11 0 3 2018 2017 2019-2020 93 13 3 6 3 0 1 68 21 3 12 5 0 1 -17 -4 -2 5 -4 0 -3 % -15.5% -16.0% -50.0% 71.4% -36.4% 0.0% -100.0% (1) In 2020, there was a slight reduction in reports related to potential breaches of the ethics code. (2) Corruption consists of abuse of power to obtain private benefits and may be carried out by individuals in the public or private sectors. It includes corruption practices such as bribery, extortion, collusion, conflicts of interest and money laundering. In terms of non-compliance, two workers from Enel Américas subsidiaries were sanctioned and disciplinary actions were taken against them in accordance with the internal regulations of each company. (3) Another motivation refers to control weaknesses in technical processes or breaches related to contractors ¿WHERE TO LODGE A COMPLAINT? Corporate website www.enel Américas.com Right Menu/Ethical Channel INTERNET Direct ethics channel https://secure.ethicspoint.eu/domain/ media/es/gui/102504/index.html In person or in writing Enel Américas Internal Audit Management, Santiago, Santa Rosa N°76, Piso 9. 49 Annual Report Enel Américas 20205050 134562Corporate GovernanceA Look at Enel AméricasMetricsEnel Américas´ BusinessesRisk Strategy and Management2020 ManagementInternal Audit and control The Internal Control and Risk Management System (SCIGR by its Spanish acronym) consists of a set of rules, procedures and organizational structures that permit to identify, measure, manage and monitor the main corporate risks existing in the Company. These systems consider the recommendations of the Integrated Framework for Internal Control, a model set up by the Committee of Sponsoring Organizations of the Treadway Commission ("COSO"). The systems also guarantee the traceability of risk identification, assessment, management and monitoring activities, considering three different types of activities: First level of control First level of control: consisting of all the control activities that the Company's operating units implement in their processes to guarantee that operations are carried out correctly. Second level of control Second level of control: assigned to specific corporate functions and they are supposed to manage and monitor certain risk types. Third level of control Third level of control: internal audit activities aimed at verifying the structure and operation of the internal control and risk management system, including monitoring of first and second level controls. Audit may affect the Company. The results of each audit and the monitoring of the implementation of the action plans The Internal Control and Risk Control System, and its are periodically reported to the Board of Directors which alignment with the business model, is one of the main directly monitors the correct implementation of the success factors of Enel Américas and its subsidiaries. identified improvement actions. The department responsible for objectively and Each audit includes control activities linked to the independently guaranteeing the efficiency and Criminal Risk Prevention Model (CRPM), which contains effectiveness of the internal control and risk management the requirements of the Crime Prevention Model of Law system is the Internal Audit Management. Because of its 20.393, which governs Enel Américas as a Chilean-based nature, the Internal Audit Management reports directly Company and that encourages the implementation of to the Board of Directors at least once every quarter, international best practices to prevent and detect potential including any serious deficiencies that have been detected risks of illegal, fraudulent and in general any other action or possible irregularities that must be reported to the that may conflict with the ethical principles of the Enel auditing bodies or other competent entities, or that affect Group. This work methodology is also applied by Enel the Company´s legal situation. Américas subsidiaries considering the local particularities in terms of applicable regulations and the specific context The Internal Audit Management department carries of each country where the Company operates. out audits to periodically evaluate – under the risk- based perspective – the performance of the Company's In 2020, the Audit Manager and Compliance Officer operations, identifying the areas of improvement and reported to the Board of Directors in sessions held in facilitating – together with the process owners – action January, February, March, July, August, and September all plans that would reinforce our Internal Control System, the issues indicated above, in addition to the management minimize irregularities or cases of potential fraud that of the Ethics Channel. 51 Annual Report Enel Américas 20203 Risk Strategy and Management 5252 53 Annual Report Enel Américas 2020Macroeconomic Environment Macro-context The international macroeconomic scenario in 2020 was marked by the COVID-19 pandemic, which led to a global economic slowdown and significant changes in the economic outlook. The U.S. economy contracted by 3.4%, a situation only comparable to the 2009 drop during the financial crisis. The U.S. Federal Reserve System (FED) lowered the interest rates at the start of the pandemic, closing the year at 0%. The same trend was observed in South America, where the pandemic profoundly affected the economies of the different countries and 2020 closed with a 7.2% decrease. Argentina Argentina experienced a -10.5% decrease in its GDP with a performance marked by the COVID-19 pandemic leading to a widespread economic slowdown. Furthermore, the year was marked by the restructuring of its foreign currency debt, along with a high 36.1% inflation and a 55% benchmark interest rate. Brazil Brazil's GDP fell by 4.6% in 2020, as a result of the COVID-19 pandemic on the economy. Additionally, the Brazilian real devalued sharply reaching BRL5.1967 per dollar at the end of the year. The effects of the pandemic were also reflected in a 13.4% unemployment rate and a 4.5% inflation plus a 2% all-time-low interest rate. Colombia Colombian economy experienced a 7.2% GDP fall as a result of the pandemic and global lower oil prices. Additionally, inflation reached 1.6% and the unemployment rate reached 15.9plus an all-time low 1.75% interest rate. Peru The pandemic strongly affected the Peruvian economy, with a 12% contraction largely because of the quarantines affecting the country's mining activity. Like the rest of the countries in the region, Peru experienced an increase in unemployment, closing the year at 12.8%, and with its interest rate reaching an all-time low at 0.25%. Regulatory Environment by Country Description of the industrial sector Enel Américas and its subsidiaries and jointly controlled companies participate in electricity generation, transportation, distribution, and sale in four countries. Each one has different regulatory frameworks, energy matrices, participating companies, and different growth and consumption patterns. The following is a summary of the main legal entities that regulate the activity, the market structure, and the most relevant aspects regarding the agents of each of the countries where the Company operates. Regulatory framework of the electricity industry in Argentina Synopsis and industry structure The Argentine Wholesale Electricity Market (Spanish acronym MEM) has four categories of local agents (generation companies, transmission companies, distribution companies and large customers) and two external agents (generation marketers and demand marketing companies) authorized to buy and sell electricity and related products. The Argentine autonomous body responsible for the operation of the MEM is the Compañía Administradora del Mercado Mayorista Eléctrico S.A. (CAMMESA). 5454 134562Risk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetricsEnel Américas´ Businesses2020 Management Generation The generation segment consists of companies that own power plants. Electricity generators sell their energy to the market at prices set by the regulator. In February 2017, new guidelines were issued on the remuneration of existing generation plants, focusing on incentives that facilitate the availability of power plants. In February 2019, the remuneration values established in Resolution 1/2019 were updated. Additionally, a change in the methodology used to establish the actual power available for hydroelectric generators was introduced. In February 2020, Resolution 31/2020 replaced Resolution 1/2019 defining the minimum remuneration for electricity according to technology and scale, based on its availability. Transmission The transmission sector is a public service that operates under monopoly conditions and is made up of several companies to which the Argentine State grants concessions. A concessionaire operates and maintains the highest voltage facilities, and eight concessionaires operate and maintain medium- and high-voltage facilities, to which generation companies, distribution companies and large customers are connected. International interconnected transmission systems also require concessions granted by the Argentine Ministry of Electricity (Spanish acronym SEE). Transmission companies are authorized to charge different tolls for their services. Distribution Distribution is a public service that operates under monopoly conditions and is composed of companies to which the Argentine State has granted concessions. Distribution companies are required to supply electricity to end customers within a specific concession area, regardless of whether the customer has a contract with the distribution company or directly with a generation company. Distribution companies pay regulated rates and are subject to quality-of-service standards. Distribution companies can purchase electricity in the spot market from the Argentine MEM, at the so-called "seasonal prices", defined by the Argentine SEE as the maximum cost of electricity purchased by distributors that can be transferred to regulated customers. There are two electricity distribution areas in the Greater Buenos Aires area subject to bipartisan concessions between the Autonomous City of Buenos Aires and the Province of Buenos Aires; these concessionaires are Edesur (our subsidiary) and Edenor (an unrelated company). Local distribution areas are subject to concessions granted by provincial or municipal authorities. However, all distribution companies operating in the Argentine MEM must operate pursuant to their rules. Customers Regulated customers are those that are supplied by distribution companies at regulated rates, and which require up to 30 kW of power; unregulated customers are those that require at least 30 kW of installed capacity. Unregulated customers fall into three categories: large, bigger-sized customers; large, smaller-sized customers; and large private customers. Each category has different requirements regarding the purchases of their energy demand. For example, large, bigger-sized customers must buy 50% of their demand through supply contracts and the rest in the spot market, while large, smaller- sized customers and large private customers must purchase their entire demand through supply contracts. Large customers participate in CAMMESA by appointing two incumbent directors and two alternate directors through the Association of Large Electric Power Users of Argentina. Large customers purchase electricity directly from CAMMESA once their direct bilateral contracts with the generating companies expire. Argentina has an interconnected system, the Argentine SIN, and a multitude of small systems that supply power to remote areas. More information on the regulation in the Argentine electricity sector can be found in "Note 4 Sector Regulation and the Operation of the Electricity System" of Enel Américas´ Consolidated Financial Statements as of December 31, 2020. Regulatory framework of the electricity industry in Brazil Synopsis and industry structure The Brazilian electricity market has six categories of agents: generators, transmitters, distributors, marketers, regulated customers, and unregulated customers. According to Brazilian law, generation, transmission, distribution, and marketing in the country are separate activities. The Brazilian electricity industry is organized as a large interconnected electrical system, the Brazilian SIN (National Interconnected System) which covers 99% of the Brazilian population. It is divided into four electrical subsystems: southeast/center-west, south, northeast, and north. The National Electricity Operating System (ONS in Portuguese) is responsible for managing and operating the SIN. 55 Annual Report Enel Américas 2020 Generation The power generation sector is organized on a competitive basis, with independent generators selling their production through private contracts with distributors, marketers, and unregulated customers. The differences between production and sales are sold in the short-term market or spot market according to the Differences Price Settlement (PLD in Portuguese). A special mechanism is used by hydroelectric generators that seeks to transfer hydrological risk by compensating for the differences between the guaranteed energy of hydroelectric generators and the one which is actually produced, called the Electricity Reassignment Mechanism (MRE in Portuguese). Transmission The electricity transmission sector operates under monopoly conditions, through concession contracts. Brazil's regular entity, ANEEL, sets the annual revenues for transmission companies. This applies to all electricity companies with transmission operations in Brazil. Transmission revenue corresponds to a fixed remuneration that does not depend on the amount of electricity transmitted by the grid. The Transmission Network comprises any transmission asset above 138 kV. Distribution The distribution of electricity is a public service that operates under monopoly conditions and is composed of companies that have been granted a concession in geographically defined areas. Distributors operating in the Brazilian SIN are not allowed to: (i) develop activities related to the generation or transmission of electricity. (ii) maintain , directly or indirectly, stakes in the share capital of any other company or corporation, or (iii) carry out activities that are not related to their respective concessions, except those permitted by law or in the corresponding concession contract. Sale of electricity Laws, decrees, and resolutions dating back to 2004 regulate the sale of electricity. Law No. 10.848 and Decrees No. 5.163 and 5.177/ related to the Chamber of Electric Energy Commercialization or Clearing House (CCEE in Portuguese), and the role of the Brazilian National Electricity 5656 Agency (ANEEL), and Resolution No. 109, which introduced the Electric Power Marketing Convention, define the terms, regulations, and procedures of electricity marketing in the CCEE. These regulations introduced two possible situations to implement energy contracts: (i) regulated contracts, involving energy generation and distribution agents; and (ii) free-market contracts involving generators, marketers, import and export agents, and unregulated energy customers The commercial relations between agents participating in the CCEE are mainly governed by energy sales contracts. All contracts between the agents participating in the Brazilian SIN must be registered with the CCEE. Registration includes energy amounts and contract terms. There is no obligation to record the energy prices sold under unregulated sale contracts. The CCEE records the differences between the energy produced, the energy consumed, and the amount of energy hired. Positive or negative differences are settled on the short-term market and their price corresponds to the PLD, which is calculated every day, in periods of 24 hours (PLD per hour). Regulated customers The regulated market comprises all consumers who can only have their electricity supply provided by the distribution company operating in the area. Unregulated customers The unregulated market includes the sale of electricity between generation concessionaires, independent producers, self-producers, electricity marketers, electricity importers and unregulated customers. Unregulated customers in Brazil are those who currently: (i) require at least 1,500 kW, generated from conventional sources, and who buy their energy directly from generators or marketers, but not from distributors. (ii) require 500 to 1,500 kW, generated from NCRE sources. 134562Risk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetricsEnel Américas´ Businesses2020 ManagementThis limit in Brazil will change to 1,000 kW from 1 January There is an interconnected system, the Colombian SIN, 2022 and to 500 kW from 1 January 2023. and several smaller and more isolated regional systems that supply electricity to specific areas. According to More information on the regulation of the Brazilian Colombia's Energy Mining Planning Unit (UPME), in 2018, electricity sector can be found in "Note 4 Sector 96.53% of Colombia's population received electricity from Regulation and the Operation of the Electrical System" of the public grid. Enel Américas´ Consolidated Financial Statements as of December 31, 2020. Regulatory framework of the electricity industry in Colombia The generation activity which can be carried out together with the sale of energy consists of the production of electricity through hydroelectric, thermoelectric and NCRE plants connected to the Colombian SIN. Synopsis and industry structure The Colombian Electric Market is structured as provided by Law, where the activities of generation, transmission, The most important provisions governing the electricity generation sector are as follows: distribution, and sale of electricity are regulated, under a • The generation sector is organized on a competitive market environment and competition model and where basis, with independent generators selling their state intervention is limited. Considering the characteristics production in the spot market or through private of each of the business activities, regulations that allow free contracts with large customers, other generators and competition in electricity generation and sale businesses, marketers. and for the transmission and distribution businesses have • Generation companies with a 20 MW capacity at least been implemented and they are aimed at treating such must participate in the market according to the central activities as monopolies, in any case seeking competitive dispatch regulations. Plants with an installed capacity conditions wherever possible. of less than 20 MW are called "minor power plants" or "central power plants without a centralized clearance" The main institution in the electricity sector is the Ministry and are dispatched at the base, meaning they are the of Mines and Energy that through the Energy Mining first ones to be dispatched. Planning Unit (UPME in Spanish acronym), develops the • Generation companies declare their available energy National Energy Plan and the Generation-Transmission and the price at which they are willing to sell it on the Reference Expansion Plan. The Energy and Gas Regulatory Energy Exchange. This electricity is centrally dispatched Commission (CREG) and the Superintendency of according to merit by the National Dispatch Center Public Services (SSPD) are responsible, respectively, for (CND in Spanish acronym). regulating and monitoring companies in the sector and the Superintendency of Industry and Commerce is the Energy sale consists of an intermediation process between national authority responsible for competition protection market participants providing electricity generation and issues. The electricity market is based on the fact that transmission and distribution services and customers of trading companies and large consumers can transfer these services, whether or not this activity is carried out energy through bilateral contracts or through a short- together with other activities in the electricity sector. term market called the "Energy Exchange", which operates freely in accordance with supply and demand conditions. Electricity transactions in the Colombian MEM are carried In addition, two mechanisms are in place to promote the out in the following four modalities: expansion of the system: (i) Firm Energy auctions of the "Reliability Charge" program and (ii) long-term contracts 1. Spot energy market: short-term daily market; auctions as a promotion of Non-Conventional Renewable 2. Bilateral contracts: medium and long-term markets; Energy Sources (NCRE). The operation and management 3. Reliability fee: expansion scheme that allows to of the market is carried out by XM, which is responsible incorporate generation sources, based on the "Firm for the functions of the National Dispatch Center (CND in Energy" concept. Spanish acronym) and the Administrator of the Commercial 4. Long-term contracts: a central expansion scheme, in Exchange System (ASIC in Spanish acronym). particular of unconventional renewable energy sources. 57 Annual Report Enel Américas 2020Firm Energy refers to the maximum electrical energy that power and energy to both distributors and unregulated a generating plant can deliver continuously for one year, customers. under critical hydrological conditions. The generation company that acquires a Firm Energy Obligation (OEF in The electricity that a generation company sells to its Spanish acronym) will receive a fixed remuneration during customers does not necessarily coincide with the electricity the committed period, produced by that generation company, since the production of the generation plants is allocated by the COES, the Transmission operates under monopoly conditions, with Peruvian entity responsible for coordinating the efficient a guaranteed fixed annual income that is established by operation and centralized dispatch of the generating units the replacement value to new networks and equipment, to meet demand. The spot price is calculated based on and by the value resulting from the bidding processes the variable production costs of each generating plant, that award new projects for the expansion of the National regardless of its contractual commitments. The only Transmission System. This value is distributed among exception to this rule is natural gas plants. For clearance national transmission system marketers in proportion to purposes, natural gas prices are established once a year, their respective energy demands. in June, and apply for the next twelve months, from July to June of the following year. Because of a sentence of the The distribution is defined as the operation of local networks Supreme Court of Justice (Popular Action Sentence No. below 220 kV. Any customer can access a distribution 28315 – 2019 Lima) we expect that a new regulation will be network, for which the customer pays a connection fee. issued in May 2021. More information on the regulation of the Colombian The spot market is also managed by the COES, and it strikes electricity sector can be found in "Note 4 Sector an economic balance between electricity produced by Regulation and the Operation of the Electrical System" of generation companies and the demand of their customers. Enel Américas´ Consolidated Financial Statements as of There are three classes of participants authorized to December 31, 2020. Regulatory framework of the electricity industry in Peru Synopsis and industry structure Peru's wholesale electricity market (MEM in Spanish carry out short-term market transactions: (1) generation companies, to meet their supply contracts; (2) distribution companies, to serve their unregulated customers up to 10% of the maximum demand; and (3) large customers, to meet up to 10% of their maximum demand. acronym) has four categories of local players: generation The production of power plants and customer energy companies, transmission companies, distribution consumption are valued at a marginal cost, which is companies and large customers. The generation and calculated every half hour. Generators with a deficit buy distribution companies also commercialize energy. energy from generators who have a surplus. This principle of balance in energy sales also applies to power charges. The SEIN is Peru's only interconnected system, although The price of power is regulated by the Osinergmin, Peru's several smaller isolated systems supply electricity to electricity sector regulator. specific areas. Generation The generation segment is made up of companies that own Settlements made by the COES also include payments and/or collections for complementary services, such as electricity generation plants. This segment is a competitive frequency and voltage regulation. They also consider market, in which prices tend to reflect marginal production compensation for operational cost oversteer, such as costs. Electricity generators, as energy producers, are minimal load operation and random operational testing, The spot price is obtained from the real dispatch model. committed to the sale of power and electricity to their among others. contractual customers. Generating companies can sell their 5858 134562Risk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetricsEnel Américas´ Businesses2020 ManagementTransmission The transmission system consists of transmission lines, substations, and equipment for the transmission of electricity from power plants to consumption centers or distribution points. Transmission in Peru is defined as all lines or substations with a voltage higher than 60 kV. Some generation and distribution companies also operate sub- transmission systems at the transmission level. Distribution Electricity distribution is an activity carried out in the concession areas granted to different distribution companies. Distribution companies purchase energy through bidding processes or directly from generation companies through contracts with freely negotiated terms and conditions (the maximum price is the bar tariff) and sell the energy mainly to residential and large customers. Large customers Customers with a power demand of less than 200 kW are considered regulated customers, and their power supply is considered a public service. Customers with a power demand in the range of 200 - 2,500 kW may choose whether they want to be considered regulated or unregulated customers (free customers). Once this type of customer opts for a category, they must remain within that category for at least three years. If the customer wants to change their category from regulated to unregulated, or vice versa, they provide a prior notification at least one year in advance. Customers whose capacity demand exceeds 2,500 kW are necessarily unregulated. More information on the regulation of the Peruvian electricity sector can be found in "Note 4 Sector Regulation and the Operation of the Electrical System" of Enel Américas´ Consolidated Financial Statements as of December 31, 2020. Risk Management Risk Management in Enel Américas Enel Américas sees risk management as one of the main tools to define business sustainability throughout the value chain and across all lines of business. Understanding economic, environmental, and social contexts is essential to identify which factors, whether external or internal, can become potential business risks and, therefore, our risk management system is implemented to identify, treat, and preventively monitor risks that may affect business continuity. In many cases, as in social and environmental factors, it is important for the Company to address these risks in connection with the ecosystem of players such as the industrial, institutional, and civil society sectors. The collective impact and people-centered capitalism are the concepts that today become the framework of the commercial "what to do"; only through a collective effort and everyone´s united actions towards the same purpose we can eliminate the risk factors that can affect the entire economic, social, and environmental ecosystem. Increasingly, the risks that affect business coincide more and more with those that affect society and the environment and, for this reason we must act collectively to generate preventive and mitigating actions in an integrated way to contrast the social and environmental risks that threaten today's prosperity and the future of the planet. Enel Américas considers the United Nations Sustainable Development Goals, the World Economic Forum, and the overall objectives of the Paris Agreement to adapt and mitigate the effects of climate change a benchmark for global risk analysis with an impact on its specific business, and its risks are a clear example of how collective actions are key to their mitigation and adaptation. The same has occurred with the COVID-19 health contingency, a risk that could not have been addressed without a concerted effort from the scientific, economic, social players as well as governments. The risk assessment takes into consideration the Enel Group´s risk taxonomy based on six macro categories and involves a thorough compression of the value chain as well as multidirectional relationships, dynamic in different time horizons between external variables and each stage of the Company's value chain under different scenarios considering the mega tendencies and their likely impacts on different timeframes. To identify the risks, the Company uses a structured and systematized theoretical framework, which takes into account the inputs provided by financial analysts, sustainability analysts, perception surveys, Task Force guidelines on Climate-related Financial Disclosures (TCFD), results of Due Diligences on human rights, Internal and External Audits, ISOs, to mention only a few. 59 Annual Report Enel Américas 2020Once the variables are identified, their relevance is the Board reviews and approves at the beginning of each established in the financial results and the Company´s year, observing and applying local requirements in terms strategy, incorporating the materiality analysis that is of risk culture. updated each year and which permits us to get to know our stakeholders´ priorities. The Risk Control and Management Policy is developed and complemented by the specific policies that are established For each risk, we evaluate the probability of it occurring in relation to certain risks, corporate functions, or group and its impact, relying on the participation of the business businesses and which include limits and indicators that are lines and staff areas actively involved as a way of creating subsequently monitored. a risk and sustainability culture, consensual actions at different deadlines to mitigate those risks, if necessary. For residual risks, we develop an action plan that incorporates Guarantee Management Policy the required actions into the work plans of each area, or It establishes the guidelines and methodologies to be applied in their management systems, or tools that each area has, to the management of guarantees received and to secure as the case may be so that each one takes an active part effective mitigation of counterpart risk, both in the supplier's in its management in its daily work and takes appropriate profile as well as that of the guarantor. actions if required and also anticipates the opportunities that may arise. Commodities Risk Control Policy Risk Control and Management Policy Its aim is to manage and control commodity risk, allowing the Company to make risk- conscious decisions and minimize the likelihood of not achieving strategic results. It furthermore permits to control the risks of non-compliance with price, Enel Américas follows the guidelines provided by the Risk volume, exchange rate, credit, and commodity counterpart Management Control System (SCGR in Spanish acronym) regulations, as well as financial regulation. defined at the level of the Holding (Enel SpA), which establishes the guidelines for risk management through the respective standards, procedures, systems, among others, that will be applied at the Company´s different Credit and Counterpart Risk Control Policy levels, in the processes of identification, analysis, evaluation, This policy aims to manage and control credit counterpart treatment and communication of risks that our business risk, minimizing the likelihood that expected outcomes must continuously face. will be affected by a counterpart's default or reduction in These are approved by the Board of Directors of Enel SpA, which has a Control and Risks Committee which supports the Board's assessment and decisions regarding internal credit quality. Financial Risk Control Policy controls and the risk management system, as well as those It aims to manage and control financial risks, minimizing the relating to the approval of periodic financial proofs. likelihood of not achieving strategic business and financial results by controlling financial market, financial counterparty, To comply with this, there is a specific Risk Control and liquidity, and operational risks. Management Policy in place within each Company, which 6060 134562Risk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetricsEnel Américas´ Businesses2020 ManagementRisk Governance Audit team, responsible for regularly auditing and verifying that established policies and controls are operating. The Enel Group's organizational risk management The Enel Group Risk Management System considers structure launched a Global Risk Control Committee and three lines of action (defense) to obtain effective and a Latin America Regional Risk Control Committee, whose efficient management of risks and controls, where the functions are as follows: approve the risk policies proposed control of the business unit is the first line of defense in by the Holding´s Risk Control department; approve risk management; the second line of defense is activated proposed exposure limits; authorize boundary breakdown; through various functions of internal controls developed define risk strategies by identifying action plans and tools to guarantee optimal risk management and established to mitigate risks and provide a general oversight of risk compliance supervision and, finally, the third line is an management and control. independent evaluation. Each of these three "lines" plays a different role within the Company's broader governance The risk management process is decentralized within each structure. Each line of defense must inform and keep of the Group´s company. Each manager responsible for senior management and Directors up to speed on risk the operational process in which the risk originates is also management, with Senior Management being informed by responsible for the treatment and adoption of risk control the first and second line of defense and the Board, in turn, and mitigation measures. by the second and third line of defense. To monitor compliance with internal policies, including risk-related policies, the Company has set up an Internal SENIOR MANAGEMENT BOARD OF DIRECTORS/AUDIT COMMITTEE FIRST DEFENSE LINE SECOND DEFENSE LINE THIRD DEFENSE LINE OPERATIONAL MANAGEMENT INTERNAL CONTROL (SCIIF IN ITS SPANISH ACRONYM) RISK CONTROL: • FINANCIAL • COMMODITIES • CREDIT & COUNTERPARTY INTERNAL CONTROL REPORT ON FINANCIAL INFORMATION • PROCESS LEVEL CONTROLS • MANAGEMENT CONTROLS • ACCESS CONTROLS RISK MAP • SUSTAINABILITY • REGULATORY • LEGAL • OPERATIONAL • ETC. INTERNAL AUDIT • EXAMINE AND EVALUATE INTERNAL CONTROL SYSTEMS • VERIFY COMPLIANCE WITH INTERNAL PROCEDURES • PROPOSE CORRECTIVE MEASURES TO BOARD T I D U A L A N R E T N I Y R O T A L U G E R NCG 385 SVS CMF NCG 346 61 Annual Report Enel Américas 2020 The Risk Control area is ISO31000:2018 Internationally to guarantee that the three-line defense model applies to Certified (G31000) and acts pursuant to the current the Company's risk management and control processes. guidelines of this international standard to manage the companies' risks, where the main objective is to preventively The Enel Group Risk Management System is subject to identify risks (endogenous and exogenous), analyze, evaluate regular testing and audit verifications, considering the so as to quantify probability and impact, as well as treat development of corporate operations and the situation in them, by establishing the definition of mitigation measures question, as well as best practices and guidelines for internal with their respective action plans in conjunction with the regulations and international regulations such as ISO 31000: areas and Risk Owners as those responsible for the different 2018 (G31000), COSO. risks. In the risk treatment phase, the relevant actions within internal policies and procedures are considered, as well as a The analysis of the ESG risks (Environmental, Social and strict observation of international standards (ISO and OSHAS) Governance) is carried out by the Risk Control area together and government provisions that require risk management with the Sustainability area which designs the process of in an evidenced and sustained way, to guarantee good ESG risk identification that affects the Company's business governance practices and business continuity. directly involving all the responsible units , raising awareness Each quarter, the Risk Control area presents to the Board issue for the Company and the world in general, obtaining, as of Directors a risk map to inform the management of a result, a risk matrix that integrates social and environmental the Company's risks, evidencing the identification of new issues focused on climate change, a reflection of its business and creating culture that highlights the relevance of this risks and the development and monitoring of those that model. were previously identified. The presentation of the risk map complies with ISO31000:2018 Risk Policies, internal The Company has set up a Crisis Committee whose aim procedures, and regulations external to the group, such as is to guarantee decision-making and internal/external the General Standard No. 30 of the FMC, which governs the communication clarity, speed, and efficiency to manage Annual Reports of companies in Chile, and General Standard any event that may compromise people's safety, public No. 385, also issued by the FMC, whose aim is to guarantee and business service continuity, the environment, asset business continuity in compliance with best corporate protection, the Company´s and management´s image and governance practices. reputation as well as to minimize impacts on stakeholders to guarantee rapid restoration of normal operating conditions. The management of Internal Controls aims to guarantee that the business activities on this subject permit to mitigate Apart from the Crisis Committees, in each country the the risks related to the observation and strict application of Company has set up a Critical Event Monitoring Office all procedures and standards in force pursuant to the COSO (OMEC in Spanish) which monitors and manages crises in methodology (Committee of Sponsoring Organizations of real time, 24 hours a day, 365 days a year. This office was the Treadway Commission). This area complies with all the actively involved in the internal management of the COVID-19 requirements for a periodic monitoring of the Sarbanes- crisis, with daily dispatches of alert bulletins informing of Oxley Act, including bi-annual certification of these external the situation of the coronavirus pandemic crisis (COVID-19) audit controls and to define, together with process owners since March 2020. and Control Owners, remediation actions to mitigate the deficiencies in controls indicated by independent External The Enel Group has implemented a Code of Ethics which Auditors and continuously improve processes, as well as expresses ethical commitments and responsibilities in monitor their implementation and communicate the status carrying out the Company´s employees´ commercial to the Board of Directors. activities and corporate operations whether they involve senior management executives, employees, or partners in The Board of Directors and senior management are the main any way linked to this Company. stakeholders attended by the "lines" and are best positioned 6262 134562Risk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetricsEnel Américas´ Businesses2020 ManagementMain risks The Company seeks protection for all risks that may affect our commercial targets. A new risk taxonomy for the entire Enel Group was approved in January 2020, which considers six macro categories and 37 subcategories, as follows: •Interest rate • Commodity • Foreign Exchange Rate • Credit & Counterparty • Liquidity • Capital structure adequacy & funding access • Legislative & Regulatory development • Macroeconomic & Geopolitical trends • Climate changes • Competitive landscape • Strategic planning and capital allocation • Innovation S T RATEGIC L • Corporate governance • Corporate culture & ethics • Stakeholders engagement • Reputation G O V E R N • Health and Safety • Environment • Procurement, logistic & supply chain • People and Organization • Intellectual Property • Asset protection • Service quality management • Customers' needs & satisfaction • Business interruption • Process e.ciency FINA N C I A L A N O T A R I E P O C O M | | | | | | | | | | | | | | | | | | | | | | ||||||||||||| | | | ||||||||||| RISKS | | | | ||||||||||||||| | | |||||||||||||| | | | | | | | | | | | | | | | P LIANCE • External disclosure • Tax compliance • Financial Regulation Compliance • Corruption • Antitrust compliance • Consumers' rights & data protection • Compliance with other laws & regulations H C E I T A L T DI G A N C E & C U L T U R E Y G N O LO • IT efectiveness • Cyber Security • Digitalization • Service Continuity Below we present the six macro categories: business, such as liquidity and credit & counterpart risks, and (iii) commodity risks that consider uncertainty in the Strategic Risks: are those that can significantly affect event of future market events, caused by price volatility the Company's strategic objectives, both in the short and and production volumes, availability of and demand for long term, such as risks arising from regulatory changes energy commodities, such as gas, oil, coal, or variability of promoted by the various regulatory bodies. external factors that may affect the prices or volumes of such commodities, such as hydrology, considering local Financial Risk: refers to the probability of an event which peculiarities and market restrictions in question (for more might have negative financial consequences for the detail on financial risks please review "22 Risk Management Company, in relation to: (i) financial market risks because Policies" of the Financial Statements). of the volatility of interest rates and exchange rates; (ii) risks arising from any restrictions on access to the financial Operational Risks: are those which represent the risks market by the Company or risks of meeting the assumed related to the operation, leading to inadequate internal obligations or cash flow required in the course of its processes, systemic network failures, and other events 63 |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||Annual Report Enel Américas 2020 with external causes, which may affect the quality of Below we present the risk groups and how they are treated: energy supply and performance indicators in the main identified aspects. Operational risks Compliance Risks: are those which pose the risks of non- They represent the risks of the operation, in which the compliance with a regulation or standard. Therefore, risk quality of the energy supply and the loss rate are the management in compliance requires to know and clearly main identified aspects. These risks are managed through establish the laws and regulations by which the Company procedures and formal commercial standards, operational is governed. and implemented. Furthermore, the Company has several operating systems that are also used as tools to prevent Digital Technology: these are risks inherently vulnerable these risks, as well as to guarantee the availability and to cyberattacks, which can take many forms, from data efficiency of distribution and transmission networks, theft and ransomware to system invasions with potentially through our substations to avoid regulatory sanctions harmful consequences on a large scale and service in terms of non-compliance with the limits imposed in interruptions. relation to quality and loss. Governance &Culture: these are risks of incurring judicial or administrative sanctions, economic or financial losses Strategic risks and reputational damage as a result of the inability to They represent the risks affecting the Company's business meet stakeholders´ expectations, an ineffective exercise strategy or strategic objectives. These risks are monitored of supervisory functions and/or the absence of integrity by the Risk Control area through the "Risk Matrix" presented and transparency in the decision-making processes and/ to the Board of Directors every quarter. The matrix contains or consequence of unauthorized attitudes and conduct strategic, scenario, operational, legal, tax, regulatory, of employees and senior management, in violation of the cybersecurity, sustainability, and reputation risks. Company's ethical values. Sustainability The risk taxonomy and its management cover the complete risk assessment process (identification, analysis, and Enel Américas, as part of the Enel Group, is committed valuation) pursuant to ISO31000:2018, clearly reflecting the to making specific contributions to six of the 17 SDGs: risks assessed, highlighting the probabilities and impacts education and quality (SDG4), accessible and clean thereof, quantified before and after mitigating actions. energy (SDG 7), decent work and economic growth Once the risk assessment process is complete, each area sustainable cities and communities (SGD 11) and climate (SDG 8), industry, innovation and infrastructure (SGD 9), responsible together with the risk management area, action (SGD 13). carry out further work within the treatment, to reduce risk levels through preventive management, always seeking to This commitment was the result of establishing a sustainable reduce the probability and impact of each one, which is business model and has been, therefore, incorporated into subsequently presented to the Board of Directors every Enel Chile´s strategic plan and its non-compliance with month as well as to the Company´s senior management. these commitments poses a risk the Company contributes The Corporate Governance of Enel Américas is a to reaching other sustainable development goals. The fundamental instrument to guarantee efficient and following diagram shows how the different Sustainable reliable risk management to create shareholder value and Development Goals have been integrated into the risk business continuity. taxonomy defined by the Group. 6464 134562Risk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetricsEnel Américas´ Businesses2020 ManagementMACRO CATEGORY SUBCATEGORY SDG COMPLIANCE DIGITAL TECHNOLOGY GOVERNANCE AND CULTURE 1 2 3 COMPLIANCE WITH OTHER LAWS & REGULATIONS DATA PROTECTION & CONSUMER RIGHTS EXTERNAL DISCLOSURE CYBERSECURITY CORPORATE CULTURE & ETHICS REPUTATION COMMITMENT TO STAKEHOLDERS OPERATIONAL 4 ASSET PROTECTION ENVIRONMENT PROCESS EFFICIENCY BUSINESS INTERRUPTIONS HEALTH & SAFETY PROCESS EFFICIENCY CUSTOMER NEEDS & SATISFACTION PEOPLE & ORGANIZATION SERVICE QUALITY MANAGEMENT STRATEGIC CLIMATE CHANGE 5 LEGISLATIVE AND REGULATORY DEVELOPMENT STRATEGIC PLANNING & CAPITAL ALLOCATION The risks related to climate change are particularly relevant • Risks of transition to a low-carbon economy can involve because of their impacts not only on the environment but risks related to regulatory, political, legal, technological also on society and the economy. We can distinguish two and market changes with short-, medium- and long- types as indicated below: term effects. Enel Américas´ competitive advantage in managing these risks is that it belongs to a group • Physical risks associated with climate change: they which operates in a more mature market and which can are related to extreme weather conditions or gradual share good regulatory, technological, market practices, but structural changes in climate conditions. Extreme among others. events could expose Enel Américas to more or less prolonged unavailability of assets and infrastructure, In relation to the management of social risks it is recovery costs, inconveniences caused to customers, important to highlight the following: among others. Recurring changes that affect the resources needed for electricity generation or demand • Social conflicts whose intensification can jeopardize are, for example, drought and temperature increases. operation continuity. To deal with these potential impacts, Enel Américas has implemented plans and The geographical diversity and technologies used processes to manage contingencies. As the Company is in generation and accurate predictive measuring of aware of the strategic role of electricity for all countries, climate phenomena permit us to mitigate and manage these plans prioritize the continuity of generation to changes associated with climate patterns. contribute to the system, the electricity supply to be delivered to its customers, and the safety of workers Added to that are large investments in the distribution and employees. networks to make them more resilient to these climate phenomena. All the Group´s areas are certified • Conflicts arising from the demands of the communities under ISO 14001 and, through the application of surrounding the plants in which we operate. Enel internationally recognized Environmental Management Américas maintains an ongoing relationship with local Systems (EMS), potential risk sources are monitored so communities, through dedicated teams at a regional that any criticality may be promptly detected. level. With its social investment, the Company wishes 65 Annual Report Enel Américas 2020 to create adequate conditions for the socio-economic which we are exposed and an area that collects incident development of the communities by co-designing with data, SOC (Software Operation Center), which analyzes them common growth prospects in the long term. and studies the different problems of the systems, seeking continuous improvements in protection throughout the • Risks caused by accidents of both own staff and organization. contractors are the risks that Enel Américas mitigates by promoting safety culture highlighting relevant The CERT, focused on Italy and Spain, also has a local established policies, the integration of security, manager, a focal point in each South American country, processes, and training, among others. part of the CERT and who is responsible for reporting potential local risks and taking the necessary precautions • Risks related to attracting and retaining employees to guarantee operational continuity. in the context of energy transition. To meet these challenges, Enel Américas has implemented diversity Cross-cutting and emerging risks policies, along with those of talent management and promotion. The Company implements different The risk matrix also includes emerging cross-cutting risks initiatives that permit to reconcile work and personal related to: life, and which promote people´s education and growth through scholarships and courses. Protecting personal data In relation to managing governance risks it is important In the era of market digitization and globalization Enel´s to highlight the following: commercial strategy focuses on accelerating the transformation process thorough an approach based on data • Risks originating from unlawful conduct, including and centered on customers, which is being implemented corruption, lobbying activities, etc., by own staff along the whole value chain. or contractors or anti-competitive practices. Enel Américas has set up an Internal Control and Risk Enel Américas has an important base of customers reaching Management System based on commercial regulations more than 25 million and with more than 16,000 people and procedures. directly employed by the company. Consequently, Enel Américas' new business model must manage a much larger • Human rights violations, risks that are reported through volume of personal data than in the past, to generate the due diligence from which action plans are derived to financial and business results established in its Strategic Plan. address the gaps. Digital technology This means greater exposure to the risks associated with the processing of personal data and increasingly stringent privacy legislation worldwide. Some of the ways that the Digitization is a fundamental element in the Enel Group´s risks can take place may include breaches of confidentiality, growth and development, increasingly exposing it to loss of integrity and accuracy, updates, and availability of the the risks and threats existing in the cyberspace. As it is a personal data of customers, employees and third parties (such cross-cutting risk that has the same form and causes the as suppliers and contractors) and problems of the system´s same impacts around the world, the Company has set up resilience, all of which could lead to sanctions, operational or a specialized area called Computer Emergency Response process interruptions, economic or financial losses, as well as Team (CERT), a unique, centralized, and well-prepared reputational damages. To manage and mitigate this risk, Enel task force which monitors and supports all the Group's Américas has adopted a Data Protection Compliance Program companies. that includes role assignment at all levels of the companies (including the appointment of a Data Protection Officer The CERT is part of the Cybersecurity area, made up by the ("DPO"), adopting digital tools to map data, an adequate risk Technical Office which continuously (24x7x365) monitors impact assessment, technical and organizational security and protects the facilities to avoid the multiple attacks to measures, to mention only a few. 6666 134562Risk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetricsEnel Américas´ Businesses2020 Management Enel Américas has taken on this challenge by accelerating to hired energy levels. This difference in the cost of purchasing/ digital transformation processes, as the number of customers selling energy is later recognized in the tariff, but the temporal in the different countries where it is operates has increased. effect could have an important impact on the working capital. This implies a natural exposure to the risks posed by the To mitigate this effect, the Company follows a business strategy processing of personal data and increasingly extensive privacy to meet the energy demands of regulated customers and the legislation, the incorrect implementation of which may cause result of reducing exposure to short-term prices. In addition economic, financial, and reputational loss and damage to to the exposure to the short-term energy market, distributors both our Group and the holders of such data. are also exposed to short-term prices (STP) because of the Digitization, IT efficiency and service continuity Enel Américas is carrying out a digital management transformation of its entire value chain by developing new business models and digitizing its processes by incorporating systems and adopting new technologies. One consequence of this digital transformation is that the Enel Américas Group is increasingly exposed to risks related to information technology operation systems (IT) implemented throughout the company which might have important impacts on processes and operating activities, which, in turn, might lead to data interruptions, leakage or losses. To mitigate these risks, the Digital Solutions unit, responsible for leading the Group's digital transformation process in the countries in which Enel Américas operates, has established an internal control system that includes checkpoints along the value chain. Digital Solutions' internal control system monitors both internal activities and those entrusted to external collaborators and suppliers. In this context, Enel Américas is driving the dissemination of digital culture to successfully achieve digital transformation and minimize associated risks. characteristics of their energy contracts, an exposure that is transferred to the consumer rate once a year, and, during the year, it is managed by the distributor with its working capital. Security of information Technological components are increasingly integrated into the digital life of the business world and, at the same time, the cyberthreats inherent in each of these environments become more frequent and sophisticated. That is why cybersecurity has become a global issue, and one of the pillars on which the Group's digitization strategy has been built. Cybersecurity is developed in coordination with Personal Data Protection and Information Security Functions. Cybersecurity is one of the Enel Group´s pillars on which the Company has built its digitization strategy. Cybersecurity is developed in coordination with the Personal Data Protection and Information Security functions. Data protection and information security governance Financial Risks Data Protections Transactional Financial Risks: During the normal course of its operations the Company is faced with interest rate risks, exchange rate risks, commodity risks, liquidity risk, credit risk and risk measurements detailed in “Note 22 Risk Management Policy" of the Financial Statements. Financial conversion risks: Enel Américas is exposed, by conversion effect, to the variations related to the dollar experienced by each country´s local currencies in which the Company operates. The effects on the comparability of the figures are discussed in Chapter 8 Annexes in section Press Release. Contractual financial risks: In relation to the Distribution business in Brazil, the Company is exposed to the short-term energy market risk due to variations in the energy consumption of regulated customers compared The European Union General Data Protection Regulation (GDPR) requires compliance from the Enel Group by setting up a Data Protection Office with professional autonomy and independence requirements. Although said regulation is not applicable in Latin America, the Enel Group has decided to raise the standards of personal data protection to go beyond local regulations. Data Protection Officer (DPO) In 2020, Enel Américas began working on the implementation of a compliance model which includes the figure of a Data Protection Officer (DPO) who works in coordination with the DPO office in the parent company and reports to it directly. The DPO´s roles and responsibilities are to support businesses so that processes and operations will comply with "privacy by 67 Annual Report Enel Américas 2020design"; the DPO is responsible for contractual compliance, cyber requirements. including privacy regulations and cookies; the DPO defines operational policies and instructions for the protection of This model uses a risk-based approach and is partly based personal data, promotes the definition of conduct codes on a risk analysis as the basic step for all strategic decisions. and security measures against third parties to which Enel Américas delegates the management of personal data. He or Since 2017, the Company has been implementing a cyber she also manages personal data security incidents along with risk management model valid for the entire Enel Group cybersecurity and information security functions. Furthermore, and, therefore, also for Enel Américas. the DPO organizes training activities on data protection matters carried out in the Company. Security of information This model is based on a methodology that applies to all types of computer systems (IT/OT/IoT), which identifies, prioritizes, and quantifies cyber security risks associated with the use of such systems, and whose aim is to identify There were limited risks in terms of information security in and adopt the most adequate security actions to minimize 2020, which were digitally addressed as a result of the global and mitigate the risks. health context. Therefore, in line with this methodology, Enel Américas In this area, work was done on the design and implementation identifies the information systems that require such risk of new control tools, together with strengthening information analyses, based on adequate mitigation actions in relation classification and protection policy, where a country-level review to the typology and severity of the risk. was implemented in conjunction with the Cybersecurity and Data Protection Office units, which allow to address the risks Furthermore, adopting a global approach to "cybersecurity of information processing for the different business lines. by design " allows the Company to focus the activities of a computer project on cybersecurity issues from the early Furthermore, in the area of personal data processing, the stages of computer system design and implementation, to Company designed a plan which is compatible with the policies increase resilience to cyberattacks. of Enel Américas and which is also aligned with international standards for GDPR compliance. Cybersecurity Enel Américas, as part of the Enel Group, shares cybersecurity best practices and operational models, and contributes to establishing guidelines, standards and regulations with private organizations, institutions, and Cybersecurity governance academies. As part of the Enel Group, Enel Américas has set up a Global Group Enel has set up the Cyber Emergency Readiness Cybersecurity Unit that reports directly to the CIO (Chief Team (CERT) and a Control Room, dedicated to managing Information Officer) through the CISO (Chief information cyber incidents and cooperating with national and Security Officer), so that the decision-making process is international CERT communities for all companies in the streamlined at global level, in a context where response time group, including Enel Américas. is critical. Cybersecurity Governance Model The CERT is active in different national communities through the affiliation to nine national CERTs, including, since 2018, the Spanish "National CERT". Additionally, The Enel Group has implemented a cybersecurity the Company collaborates at an international level with governance model, which is supported by the Board of "Trusted Introducer", a network of 380 CERTs present Directors and the global strategic management, and also in 60 countries and, since 2018, with "FIRST", the largest establishes the need to use world-class technologies, collaboration community in the sector, with more than 510 design ad hoc business processes, increase people´s members from 90 countries. cybersecurity awareness and transpose regulatory 6868 134562Risk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetricsEnel Américas´ Businesses2020 Management PAGINA 73 PAGINA 66 USER IDENTITY MANAGEMENT AND ACCESS CONTROL CYBERSECURITY AWARENESS AND TRAINING CYBERSECURITY ASSURANCE CYBERSECURITY STRATEGY CYBERSECURITY RISK ASSESSMENT CYBERSECURITY RISK TREATMENT ||||||||||| | | | | | | | | ||||||||||||| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | RISK BASED APPROACH CYBER SECURITY BY DESIGN ||||||||||||||| | | |||||||||||||| ENGINEERING, DESIGN, AND IMPLEMENTATION REACTION TO CYBEREMERGENCIES When the CERT detects any type of risk or incident the improvement of technological solutions in the related to information security, it analyzes and classifies it field (Machine Learning) and through the continuous according to its severity. When the incident escalates to provision of training courses aimed at employees of a crisis that affects business continuity, the Company´s industrial sites (cyber exercises) profitability or its reputation, Enel Américas immediately - Awards and participations: in 2020, the Cyber Security takes the necessary actions following the existing policies Unit participated in the drafting of three reports of the on crisis management and security emergencies. WEF (World Economic Forum) on cyber resilience: - “Cyber Resilience in the Electricity Ecosystem: The CERT is characterized by its ability to: Playbook for Boards and Cybersecurity Officers”. - “Cyber resilience in the electricity Industry: Analysis - Prevent, detect, and respond to cybersecurity incidents. and recommendations on Regulatory Practices for - Monitor cybersecurity threats through the collection the Public and Private Sectors” and management of detailed information regarding - “Cyber resilience in the electricity ecosystem: cyber threats, events, and incidents. securing the value chain”. - Exchange information and collaborations between all the players required to manage a cybersecurity incident, in a context of "safe" communication, and which Cybersecurity education, training, and awareness considers the principle of "trust" in the information to be exchanged, that is, in accordance with the principles In 2020, the Cyber Security Unit began preparing of "need to share" and "need to know" of the different cybersecurity courses aimed at the entire population of the players involved. Enel Group. Additionally, during the emergency period of the COVID-19 pandemic management, news and newsletters The main activities carried out in 2020 in the various areas were distributed through several communication channels of cybersecurity included: (mainly via the Intranet) aimed at the entire Enel Group. Also, 16 global cybersecurity awareness-raising actions were - CERT: in 2020, the CERT reinforced the protection carried out in 2020; since 2019, the Enel Group has maintained methods of the Enel Group perimeter both through cybersecurity risk insurance for cyber risk mitigation. 69 |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||Annual Report Enel Américas 2020Loss of margin; impact on the Company's liquidity; loss of trade competitiveness Coverage strategies; risk management policies and procedures; Monthly committees to accompany the portfolio and market volatility. Creating economic value Cross-Referencing Risk Factors with Material Issues CROSS-REFERENCING RISKS WITH THE THEMES OF THE MATERIALITY MATRIX 2020 Impact Risk Description Potential impact Mitigation Asset. damage; loss of margin; cost increases, lack of distribution network for the interconnection and location of new plants, away from the largest consumption centers. Insurance coverage is available. Investment plans in renewables energies such as wind and solar, hybrid plants and improvement plan for thermal plants. Associated material issue Decarbonization of the energy matrix; customer engagement; creation of economic value Risks in physical assets arising from climate change from events or short- or long-term changes in climate patterns. Weather variables such as temperature, rain, wind and/ or solar radiation can vary over the long term and influence energy demand and energy distribution, causing financial implications for the company. Furthermore, extreme events can also cause damage to the Group's infrastructure that affects the company's ability to generate electricity in the markets served. Physical assets arising from climate change from events or short- or long-term changes in climate patterns. Weather variables such as temperature, rain, wind and/or solar radiation may vary over the long term and influence energy demand and energy distribution, causing financial implications for the Company. In addition, extreme events can also cause damage to the Group's infrastructure that affects the Company's ability to generate electricity in the markets served. In reference to the process of transitioning energy to a more sustainable model characterized by progressive electrification and reduction of CO2 emissions, in line with the Group's decarbonization strategy, there are risks but above all opportunities linked both to changes in the regulatory context as well as in trends. High Climate change Generation High Climate change Distribution Stable Risk from exposure to power generation under high or low hydraulic conditions. Generation Stable Financial and commodity risks Stable Cyber-incidents Stable Failure to comply with the SAIDI/SAIFI Risk from exposure to power generation under high or low hydraulic conditions. Loss of margin; impact on the company's liquidity; loss of trade competitiveness Given hydrological dependence, a commercial policy is defined to guarantee the scope for contribution. Creating economic and financial value; Customer engagement (commercial management) Financial market risks, whether arising from interest rate volatility and exchange rates; risks arising from any restrictions on access to the financial market by the Company or to meet the assumed obligations or flow needs required during its business, such as liquidity and credit & counterparty risks; Commodity risks that consider uncertainty in the face of future market events, generated by price volatility and production volumes, availability, and demand for energy commodities. The speed of technological development, the increase in the frequency and intensity of cyberattacks, as well as the tendency to hit critical infrastructures and strategic industrial sectors involve new challenges of potential risks associated with cyberattacks or data center failure or failure of ethical conduct in procedures, leading to business disruptions or loss of confidentiality of personal data , especially in the context of Enel integrating data, operations and people with asset interconnection and digitization of operations Risk associated with non-compliance with the average frequency of interruptions per Customer (SAIFI) and the average interruption time per Customer (SAIDI), defined by the Regulator Loss of margin; impact on the company's liquidity; loss of trade competitiveness Coverage strategies; risk management policies and procedures; Monthly committees for portfolio accompaniment and market volatility Creating economic value Business disruption; damage to image; non-compliance with local regulations on personal data protection Continuous monitoring of vulnerability and threats to systems; disseminate cybersecurity and data protection culture within the company; identify critical systems and protect them and hire relevant insurance policies at Enel Group level Innovation and digital transformation; Solid Governance and Fair Corporate Conduct Business disruption; damage to image; financial losses due to fines and compensation Maintenance plans are designed and implemented to reduce the likelihood of failures, quality plans to increase support, investment plans to increase capacity, and network renewal Customer engagement and customer focus Stable Forced stoppage due to social protests Risk arising from stakeholder manifestations Business disruption; affects operational continuity Continuous territorial/community relationship to avoid and anticipate potential conflicts and contribute to community development Engagement with local communities; creation of economic value; commitment to customers 7070 134562Risk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetricsEnel Américas´ Businesses2020 ManagementCROSS-REFERENCING RISKS WITH THE THEMES OF THE MATERIALITY MATRIX 2020 Impact Risk Description Potential impact Mitigation Stable People Inability to attract, retain and develop properly qualified and engaged people. Not having the necessary skills to develop strategic and operational activities, boosting development to manage the energy transition, characterized by a strong technological impulse. The presence of new profiles and professional skills is required, as well as a significant cultural and organizational change. Organizations must move towards new, agile, and flexible business models. Diversity improvement policies and talent management and promotion become key elements in companies that are managing profound changes. Stable Ethics and compliance The Group's countries operate in markets characterized by high levels of perceived corruption, according to indicators published by Transparency International. The needs of the distribution, generation and sales business, and the high outsourcing of services, create an exposure to compliance risks for the company, with respect to the provisions of anti-corruption legislation and liability of legal entities defined in each country of the region, increased risk of fraud against the Company, as well as the risk of fines or penalties against bribery and corruption, in the event that our employees or the third parties we hire do not meet the requirements of anti-bribery law and corruption. • Significant penalties (fines, penalties, prohibitions), which can lead to the dissolution of the legal person or the prohibition of maintaining contracts with the public administration. • Reputational impact for the company • Relevance of legal efforts (time, resources) needed to protect the Group's companies • Training and development plans aimed at training leaders who have the skills to guarantee correct operational management and transformation processes. • Technical training programs to improve specific activities. • Boosting digital skills training plans. • Develop team integration actions and listen to employees to strengthen the commitment and identification with the Company. • Proactivity in actions aimed at human care and their health, promoting an adequate balance (work-life balance). • Diversity policies that guarantee equal opportunities and encourage integration. • Exhaustive search and selection processes that guarantee staff recruitment with the necessary skills and aligned with the Group´s values. • 'Tone from the Top’ messages by senior management, and commitment of the directories / councils of the Group's companies in the Region. • Code of business conduct and adoption of compliance/integrity programs, with specific policies and procedures to address areas at risk in company processes. • Training and business compliance awareness campaigns for all employees as well as for all external suppliers. • Definition of a compliance officer by the board/ council which reports independently on the review and operation activities of the adopted compliance model. • Definition and implementation of a compliance program that starts from the assessment of compliance risks for the Company, and that is subject to periodic review of these assessments, also the product of the audits and verifications carried out • Independent certification of the robustness of compliance programs adopted by companies (ISO 37001, MPRP Certification, Pro-Etica program, etc.) • Adopting whistleblowing channel, which guarantees confidentiality and anonymity to complainants. • third-party risk verification program to guarantee the necessary due diligence on the honorability profile of counterparts working with the Group in all processes. • Specific contractual standards that include counterpart´s obligations to respect the principles and values defined in the code of ethics, zero tolerance plan for corruption, criminal risk prevention model, human rights policy. • Internal audits, reviews and testing, continuous monitoring to verify the effective functioning of the compliance program implemented and reporting the results to the directories / councils of the Group's Dams in the Region. Associated material issue People's management, development, and motivation Solid Government and Fair Corporate Conduct Stable Health and Safety of own staff and contractors The main risks are those arising from the performance of operational activities in the company's plants and infrastructure and during the last year with those related to COVID contagion. Compliance violation of existing laws and regulations and procedures in health and safety, workplaces, structure management, assets, and administrative processes, which can have a negative impact on the health conditions of employees, contractors and stakeholders •Decrease in personal commitment • Operation paralysis • Efficiency and productivity • Fines • Reputational impact for the company • Strategy, policies, procedures and health and safety governance • ISO 45.001 system management • Supplier evaluation processes • COVID measures • Reputational impact for the company Health and Safety; Management development and people´s motivation; sustainable supply chain 71 Annual Report Enel Américas 2020Risk Rating and changing the outlook from "Stable" to "Creditwatch in Development" on the national scale, pending the completion of the EGP Américas absorption merger. In 1994, Standard and Poor's and Duff & Phelps first ranked • The classifications are based on the Company's Enersis (now Enel Américas) at BBB+, (investment grade). diversified portfolio of assets, strong credit parameters, Subsequently, in 1996 Moody's classified the Company's adequate debt composition and ample liquidity. long-term foreign currency debt as Baa1. Since that time, most risk ratings have varied. Currently, they are all in "investment grade" and are based on diversified asset portfolio, liquidity, and appropriate debt service hedging policies. ENEL AMÉRICAS INTERNATIONAL RATING S&P (1) BBB (Negative) Moody’s (2) Baa3 (Positive) Fitch Ratings (3) A- (Stable) Corporate Date of rating (1): https://www.standardandpoors.com/en_US/web/guest/home (2): https://www.moodys.com (3): https://www.fitchratings.com ENEL AMÉRICAS LOCAL RATING Shares Bonds Feller Rate (1) 1st class, Level 2 AA- / Stable Fitch Ratings (2) 1st class, Level 1 AA+(cl) / Stable (1): https://www.feller-rate.com/corporativo (2): https://www.fitchratings.com/ The following points summarize the main events that took place in 2020: • On March 27, Standard and Poor's confirmed the "BBB" rating and decreased the outlook from "Stable" to "Negative", explained by the macroeconomic situation in Colombia, the country where the Company has operations. • On August 26, Fitch Ratings revised and maintained the Company's classification as "A-" with "Stable" perspectives on an international scale. Along with this, Fitch Ratings ratified its "AA+" rating with a "Stable" perspective for the national scale. • Finally, on September 24, Feller Rate revised Enel Américas' corporate rating, ratifying the "AA-" rating 7272 Materiality Materiality analysis and prioritization of stakeholders According to the GRI (Global Reporting Initiative) sustainability reports methodology adopted by the Enel Group, Enel Américas considers stakeholders a central element and places them at the center of the Company´s material affairs. That is why the Company tries to identify and prioritize stakeholders directly involving the entire Company and the subsidiaries. Thanks to that work the Company was able to identify the relevant groups that are consulted about their priorities and expectations. We act in the same way within the Company trying to establish internal stakeholders´ strategic priorities. Based on the above, we establish the materiality of Enel Américas which, in turn, governs our strategic planning and which we account for in the different public reports. A subject is considered material when its management and/or impacts are relevant to the business and/or when it influences stakeholders´ decision. At this point, it is important to highlight the SASB (Sustainability Accounting Standard Board) standard which indicates what the material aspects must be considered from investors´ point of view. SASB regulations focus on financially important issues, because their mission is to help companies around the world report on sustainability issues that matter most to their investors, identify financially important issues, which are the ones that are reasonably likely to affect a company's financial situation or operating performance, and are, therefore, most relevant to investors and shareholders. 134562Risk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetricsEnel Américas´ Businesses2020 ManagementThis standard has defined the material issues to consider for each sector. Enel Américas is part of the Electric Utilities & Power (Generators) sector and the issues that this standard defines as material are as follows: greenhouse gas emissions and energy resource planning, air quality; water management; carbon emissions management; accessibility; employee health and safety; efficiency and demand; security and emergency management. Material subject Dimension SDG People's management, development, and motivation Social dimension SDG 4 Education and quality Innovation and digital transformation Governance dimension SDG 9 Industry, innovation, and infrastructure, Customer focus Governance dimension SDG 7 Accessible and clean energy Occupational health and safety Social dimension SDG 8 Decent work and economic growth Consolidated governance Governance dimension SDG 8 Decent work and economic growth Energy distribution Environmental dimension SDG 7 Accessible and clean energy New technologies and solutions Governance dimension SDG 9 Industry, innovation, and infrastructure, Creating economic and financial value Governance dimension Environmental management Environmental dimension Decarbonization and climate change Environmental dimension página 71 SDG 8 Decent work and economic growth SDG 13 Climate management SDG 13 Climate management Sustainable supply chain Social dimension SDG 11 Responsible cities and communities Involving communities Social dimension SDG 8 Decent work and economic growth and SDG 7 Accessible and clean energy Enel Américas´ Materiality Matrix Chapter in which it is addressed Chapter 5 Chapter 4 Chapter 5 Chapter 5 Chapter 2 Chapter 4 Chapter 4 Chapter 3 Chapter 5 Chapter 5 Chapter 5 Chapter 5 The final materiality matrix indicates which issues are our stakeholders´ priority and, at the same time, strategic for the Company. The information it provides is an input that permits us elaborate the Sustainability Plan, which is updated annually. MATERIALITY MATRIX - MATERIALITY ANALYSIS i s e g e t a r t s s ' y n a p m o c n i s e u s s i f o y t i r o i r P Priority of Issues for Stakeholders Creating economic and financial value New technologies and solutions Customer focus Consolidated governance Energy distribution Involving communities Environmental management Decarbonization and climate change Occupational health and safety People's management, development, and motivation Sustainable supply chain Innovation and digital transformation 73 Annual Report Enel Américas 2020 ESG Risk Analysis ESG risks are an integral part of the risk management policy, as described in the Risk Factors section, and are identified by considering the following references: • Relevant topics to consider in Materiality, including extreme weather, failure in climate action, concentration of digital power and digital inequality, among others. These issues are identified according to the 2021 Global World Risk Report, implemented by the World Economic Forum (WEF) (1). • Risk assessments carried out in the context of the human rights due diligence process and integrated management systems (environmental, quality and safety), among others. • Analysis of the most prestigious international sustainability rating agencies, which use specific risk assessment systems to establish the level of the Company´s performance in terms of ESG. Due diligence The Enel Group is committed to the principles that safeguard and promote the protection of human rights, a fact that is reflected in the policy approved by the Board of Directors in 2013. In line with UN guidelines, since 2017 Enel Américas has been conducting the due diligence process related to fundamental rights, which considers its entire value chain, with the view to identifying potential infringement risks within the scope of its operations and establish redress mechanisms to address any potential gaps. Stakeholders Enel Américas believes that management and dialogue with stakeholders contributes to: • • • • Improving the risk and opportunity management. Identifying relevant trends and issues early on. Enhancing credibility and trust, enabling the creation of synergies. Promoting decision-making processes. • Opportunities to improvement and for business. (1) http://www3.weforum.org/docs/WEF_The_Global_Risks_Report_2021.pdf The Company's managers, depending on their activities, are responsible for the constant management of our stakeholders. At the same time, the Company reviews, identifies and maps its stakeholders on a regular basis. In addition to this and on an annual basis, an update of the stakeholder map is prepared according to the current reality. In 2020, the Company prioritized stakeholders according to their relevance to the Company. In this process stakeholders were prioritized according to two variables: • Dependence: groups or individuals that are directly or indirectly dependent on the activities, products or services of the organization and its associated functions. • Influence: groups and individuals who can have an impact on the organization or strategic stakeholders for the decision-making process Communication channels The Company's operational excellence is based on continuous interaction with its stakeholders, with whom we have developed a good and stable relationship during the exercise of our activities. Enel Américas gains a solid understanding of their needs and expectations through communication channels and procedures. Getting to know stakeholder expectations is a cornerstone Additionally, the Company through its subsidiaries has a wide of the Company´s sustainability strategy. This approach presence in social media, providing information directed seeks to identify drivers that permit to make sustainable, towards all stakeholders and maintaining fluid interactions competitive, and safe energy models, as well as develop with virtual communities. The Company also shares innovative, comprehensive, and pioneering perspectives corporate, educational, financial, commercial, sustainability to advance events, manage risks and seek differentiation. and customer service information on several social platforms The Company's commitment to a continued dialogue with (Twitter, Facebook, LinkedIn and Instagram). If there are these groups is a fundamental element in establishing problems with the privacy of customers, social networks areas of collaboration, development, and trust. In short, serve as a point of contact to escalate these problems. 7474 134562Risk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetricsEnel Américas´ Businesses2020 ManagementManagement approach to material issues Based on direct stakeholder surveys and supplemented by secondary sources, priority issues have been identified for each PAGINA 73 stakeholder. In 2020, Enel Américas identified the following priorities: Categoría de grupos de interés y t i n u m m o C s s e n i s u B s r e m o t s u C y t i n u m m o C l a i c n a n i F s n o i t u t i t s n I s e i t i n u m m o C l a c o L d n a y t e i c o S l i v i C e l p o e P r u O a i d e M d n a s r e i l p p u S s r o t c a r t n o C Creating economic and financial value Solid governance and fair corporate conduct Customer engagement Ecosystems and Platforms Innovation and digital transformation Power distribution Decarbonization of the energy matrix Environmental management People's management, development, and motivation Occupational health and safety Sustainable supply chain Involvement of local communities Priority values from 4.3 to 4.9 (High Priority) Priority values from 3.6 to 4.2 (Medium Priority) Priority values from 2.8 to 3.5 (Low Priority) Enel Américas responds to the identified concerns by providing information in its Annual Report and Sustainability Report, which details the actions and projects carried out during the year. Furthermore, the results are a major input for the construction of the 2020 Materiality Matrix which, in turn, is an integral part of the 2021–2023 Sustainability Plan. 75 Annual Report Enel Américas 2020 Commitment to Sustainable Development Goals (SDGs) The SDGs are part of our work and have consolidated our commitment to an increasingly sustainable business model. Enel Américas is committed to contributing specifically to six of the 17 SDGs which does not exclude the Company's contribution to achieving all the objectives. More importantly, the commitment to the SDGs was the result of defining the sustainable business model; therefore, its strategic sustainable business plan is part of the energy transition incorporating the targets of the Sustainable Development Goals. THE SIX SDGS ENEL AMÉRICAS IS COMMITTED TO ARE: Education and Quality Accessible and clean energy Decent work and economic growth Industry, Innovation, and Infrastructure Sustainable Cities and Communities Climate action SDG 7 Accessible and clean energy SDG 11 Sustainable Cities and Communities As part of the energy transition process, Enel Américas is firmly implementing its renewable project growth plans, As an electricity industry, the urbanization phenomenon evidenced by the proposed merger with EGP Américas. presents us with the great opportunity to contribute to SDG 9 Industry, Innovation, and Infrastructure the sustainability of our cities, which we want to be less polluted and have more "clean" services which citizens can use. To comply with the above, we are investing in several new electrification services. For electricity generated from renewable sources to reach our homes, the Enel Group requires a solid, digitized, and resilient infrastructure. According to this principle, the SDG 13 Climate action Company focuses its investments on the digitization of our Our business plan that targets SDG 7, 9 and 11 leads to networks and service quality. climate actions that address the goals of SDG 13 by reducing both our direct emissions and our customers' footprint. 7676 134562Risk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetricsEnel Américas´ Businesses2020 ManagementSpecifically, in 2020 coal-based generation accounted for 1.6% of Enel Américas´ total generation, involving a backup plant in Colombia. While renewable production reached 55% of total generation. (SDG 13) In SDG 4, decent work and economic growth, and SDG 8, Generated and Distributed Economic Value quality education, Enel Américas is permanently committed The steep devaluation of the local currencies in the to promoting economic and social development in the countries where we operate against the US dollar communities where we operate, as well as providing significantly affected our 2020 operating income and access to clean energy where it is most needed. We have costs as a result of having to covert the figures from said invested in promoting quality education, decent work, and currencies to the Company's accounting currency. These economic growth. devaluations are caused by the complex macroeconomic scenario existing in the world and Latin America in general, With approximately 374 projects in the countries where because of the health crisis caused by Covid-19. we operate, we actively contribute to the development and social and economic growth of their regions. Our Operating revenue in 2020 fell by 14.8% to US$ 12,193 million interventions include the expansion of infrastructure, as compared to the previous year. The main reason for this education and training programs, initiatives aimed at decrease is the conversion of figures partially offset by higher social inclusion and projects that support cultural and revenues resulting from tariff adjustments, mainly in Brazil. economic life. A key tool to see through these projects is our collaboration compared to the previous year. The main decrease comes with local organizations. We currently collaborate with from the effect of converting the figures partially offset by groups that operate locally and promote regional higher tariffs disbursed for goods and services hired by the development through tailored and innovative interventions, Company to carry out its activities mainly in Brazil. Operating costs in 2020 fell by 10.9% to US$9,722 million as a fundamental instrument for these projects. As part of the government payments item, we include payments in each of the countries where the Company operates. The tax payments made by Enel Américas in the countries where we have operations (none of which is a tax haven) contribute to the development of the local economies. Finally, the retained economic value reached US$123 million in 2020, a US$1,324 reduction explained by the already indicated operational reasons and an increased dividend payment to shareholders totaling US$334 million as a result of improved profits originated in the previous year. Generated Economic Value (GEV) Operational Income Non-operational Operating costs Wages and social benefits for employees Distributed Economic Value (DEV) Payments to capital providers Financial expenses Dividend payments Payments to the government Retained Economic Value (REV) REV= GEV-DEV 2020 2019 ThUS$ 12,656 12,193 463 9,722 418 1,826 768 1,058 567 123 % 100% 96% 4% 77% 3% 14% 6% 8% 4% 1% ThUS$ 15,040 14,314 726 10,917 628 1,812 1,088 724 236 1,447 % 100% 95% 5% 73% 4% 12% 7% 5% 2% 1% 77 Annual Report Enel Américas 2020 Strategy and Business Model of Enel Américas Enel Américas and its commitment to sustainability In an environment of greater volatility as the one we observe in the region nowadays, it is important to note that the Merger with EGP Américas permits to maintain Enel Américas´ solid capital structure and, therefore, provides the Company with a flexibility to develop renewable projects in the future and continue to capture new opportunities. The Merger with EGP Américas will enable Enel Américas to contribute directly and actively to the Enel Group's CO2 emission reduction target, which would lead to a reduction of its CO2 emissions by 80% by 2030 as compared to 2017. Furthermore, the incorporation of renewable energies will permit the Company to diversify its business, also allowing it to contribute to the economic revival, so necessary for the sustainable development of the region. Thanks to the operation, Enel Green Power's unconventional renewable energy generation business will be incorporated into Enel Américas in Argentina, Brazil, Colombia, Peru, Costa Rica, Guatemala, and Panama. Additionally, the Company will be able to access new growth opportunities in generation, which will be added to its already consolidated leadership in distribution and the development of advanced energy solutions through Enel X. Moreover, this transaction will lead to Enel Américas increasing its installed capacity in the region from the current 11.3 GW to 19,2 GW, considering that Enel Green Power Américas has 3.6 GW installed capacity in operation and 4.3 GW at an advanced stage of development in Central and South America (excluding Chile), apart from a long-term pipeline of some 22 GW. The process of merging Enel Green Power's renewables business into Enel Américas is detailed in the chapter "Milestones of the period" of this Report and all the information can be found on our corporate website in the investors section. 7878 As a result of the health emergency, climate crisis, demographic changes, digital revolution, and social demands that mark stakeholders´ expectations, companies play a key role in stabilizing and caring for local economies as well as boosting the energy transition process and supporting the most vulnerable people. In this context, Enel Américas has put environmental, social and governance (ESG) aspects at the center of its management. A special emphasis has been placed on innovation and the focus is caring for our people during this difficult period including employees and contractors as well as suppliers and the communities in which the Company is present. Sustainable business strategy For Enel Américas, sustainability stands for value creation for all stakeholders, which is achieved thanks to a model that integrates the management and ESG objectives that incorporate the commitment to the SDG in the business plan. The Enel Group Business Model allows to create synergies and long-term value for all our stakeholders, through five business lines covering infrastructure and networks, trading, power generation, retail, and Enel X. As part of the Enel Group, Enel Américas has focused on a sustainable business that relies on innovation to create long-term value, which cannot be developed without continuous innovation and makes no sense if it is not aimed at sustainability. Through the Open Power vision, Enel Américas aims to open access to energy for many people, open up the world of energy to new technologies, open energy management to people, open up the possibility of new energy uses and open up to a greater number of alliances. 134562Risk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetricsEnel Américas´ Businesses2020 Management Aware of the role the Company plays in contributing The Sustainability Plan is based on four ESG pillars that to resilience as faced with climate change and social support the strategy: phenomena related to urbanization, Enel Américas offers low carbon services through the electrification of cities, • Occupational health and safety. quality services and digitization of networks, as well as • Corporate governance strength. electricity generation, mainly renewable, leading the • Sustainability of environmental management. transition to low-carbon economies in the countries where • Sustainability of the supply chain. we operate. 2021-2023 Sustainability Plan The enabling factor of the plan is innovation – considered critical to achieve business sustainability as well as the Company´s internal and external social relations. Enel Américas has generated positive impacts on society The plan will guide Enel Américas´ actions over the next through its environmental performance, its integration with three years, allowing the Company to navigate towards the social fabric of the territories in which we operate and the energy transition which is moving forward at an ever- through the creation of a work environment that responds increasing pace. It is built considering the main trends and to the needs of our employees. contingencies at a regional level that influence the energy industry, the most relevant risks of the energy sector and In 2020, 55% of energy generated by us came from the priority issues for the Company's stakeholders. Enel renewable sources, confirming our commitment to the Américas, together with the Sustainability Management of care for the environment which is further reinforced by each country, monitors the progress and compliance with our new demand response contracts of 13.9 MW, which each objective and goal. facilitate a more efficient use of energy. 79 Annual Report Enel Américas 20204 Enel Américas´ Businesses 8080 81 Annual Report Enel Américas 2020Business Structure ENEL AMÉRICAS S.A. ARGENTINA BRAZIL COLOMBIA PERU Generation Distribution Generation Distribution Transmission Generation Distribution Generation Distribution 72.09% Edesur 99.75% Cachoeira Dourada 99.96% Enel Dx Goiás 100.00% Enel Cien 48.48% 48.30% Emgesa Codensa 83.60% Enel Gx Perú 83.15% Enel Dx Peru 100.00% Enel Gx Fortaleza 100.00% Volta Grande 99.73% Enel Dx Rio 74.05% Enel Dx Ceará 100,00% Enel Dx Sao Paulo 96.50% Enel Gx Piura 75.62% Enel Gx Costanera 62.69% Enel Gx El Chocón 41.25% Central Dock Sud 8282 134562Enel Américas´ BusinessesRisk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetrics2020 ManagementCompany Background 1981 2002 On June 19, the Compañía Chilena de Electricidad S.A. The Extraordinary General Shareholders´ Meeting held on created a new corporate structure, which gave rise to April 11, 2002 modified the Company’s corporate purpose a parent Company and three subsidiaries. One of them introducing telecommunications activities and investment was Compañía Chilena Metropolitana de Distribución in and management of companies whose business was Eléctrica S.A. 1985 telecommunications and information technology through the Internet. 2015-2016 Stemming from the Chilean government’s privatization program, the company began the process of transferring The Company underwent a corporate restructuring the share capital of Compañía Chilena Metropolitana de process which started in April 2015 and was completed in Distribución Eléctrica S.A. to the private sector, a process December 2016. The process consisted of separating the that ended on August 10, 1987. As part of the process, electricity generation and distribution activities carried out pension fund management companies (AFPs as per in Chile, from those carried out in the rest of the countries. Spanish acronym), the company´s employees, institutional As such, former Enersis S.A. was divided into the following investors and thousands of small shareholders joined companies: Enel Américas S.A., the continuing Company the Company. Its organizational structure was based of Enersis with activities in Argentina, Brazil, Colombia and on activities or operative functions whose results were Peru, and Enel Chile S.A. which owns the assets related to evaluated functionally and their profitability was limited the activities in Chile. by a tariff structure because of the Company’s exclusive dedication to the electricity distribution business. 2020 1987 The Extraordinary Shareholders' Meeting, held on December 18, 2020 approved the Merger by incorporation of the The Company’s Board of Directors proposed to divide assets of EGP Américas into Enel Américas in the countries the Company’s different activities. This way, the four of South America (without Chile) and Central America subsidiaries created as a result of the division were to (Argentina, Brazil, Colombia, Peru, Panama, Costa Rica, operate as business units with their own objectives, thus and Guatemala). The meeting had an attendance quorum expanding the Company’s activities towards other non- of 96.67% and an 81% approval of all shares subscribed regulated activities but linked to the core business. This on that date. division was approved at the Extraordinary Shareholders’ Meeting held on November 25, 1987 thus establishing On April 1, 2021, the Merger was completed. the Company´s new corporate purpose. As a result of the above, Compañía Chilena Metropolitana de Distribución At the end of the period Enel Américas S.A. is one of the Eléctrica S.A. became an investment company. largest private power companies in Latin America in terms 1988 of consolidated assets and operational revenues, which has been achieved through stable and balanced growth in its electrical businesses: generation, transmission, and On August 1, pursuant to the agreement of the distribution. Extraordinary General Meeting of Shareholders of April 12, 1988, one of the companies born from the division changed its corporate name to Enersis S.A. 83 Annual Report Enel Américas 2020Expansion and development Enel Américas began its international expansion in 1992 through different privatization processes in Latin America, thus developing a significant presence in the electricity sectors in Argentina, Brazil, Colombia, and Peru. 1992 • On May 15, Enel Américas, (Enersis at that time) acquired a 60% shareholding and control of Central Costanera, a generation company, currently Enel Generación Costanera, located in Buenos Aires, Argentina. • On July 30, the Company was awarded 51% of Empresa Distribuidora Sur S.A., Edesur, a company that distributes electricity in the city of Buenos Aires, Argentina. 1993 • In July, the Company acquired Hidroeléctrica El Chocón, (today Enel Generación) located in the Neuquén and Río Negro provinces, Argentina. 1994 Janeiro S.A., Cerj, an electricity distribution company in the cities of Río de Janeiro and Niteroi, Brazil, whose business name was changed to Ampla Energía e Serviços S.A. and currently is called Enel Distribución Río. • On December 20, the Company acquired 99.9% shareholding of Central Hidroeléctrica de Betania S.A. E.S.P. in Colombia. 1997 • On September 5, the Company acquired a 78.9% shareholding of the Brazilian company Centrais Elétricas Cachoeira Dourada (currently Enel Green Power Cachoeira Dourada) for US$ 715 million. • On September 15, Enel Américas (at the time Enersis) successfully participated in the capitalization of Codensa S.A. E.S.P., a company that distributes electricity in the city of Bogotá and the Cundinamarca department in Colombia acquiring a 48.5% shareholding for US$ 1,226 million. The Company also acquired 5.5% of Empresa Eléctrica de Bogotá. • On September 15, investing US$ 951 million, the Company acquired a 48.5% shareholding of Emgesa, a Colombian generation Company, and an additional 5.5% of Empresa Eléctrica de Bogotá S.A. • In July, Enel Américas acquired 60% shareholding of Empresa de Distribución Eléctrica de Lima Norte S.A., Edelnor (currently Enel Distribución Perú) in Peru for • Endesa, S.A. (Spain) acquired 32% of Enersis (currently Enel Américas). US$176 million. The Company also acquired Edechancay, another electricity distribution company in that country, 1998 which was later absorbed by the former. 1995 • On December 12, Enel Américas acquired an additional 39% shareholding of Edesur. The Company also acquired the Peruvian generation Company Edegel (currently Enel Generación Perú) in Peru. 1996 • On December 20, Enel Américas entered the Brazilian market with the acquisition of a large portion of shares of the former Companhia de Eletricidade do Río de • On April 3, Enersis (currently Enel Américas) acquired 89% and the control of Companhia Energética de Ceará S.A., Coelce (currently Enel Distribución Ceará) for US$868 million, a company that distributes electricity in the northeast region of the country, in the Ceará state. 1999 • Endesa, S.A. (Spain), took control of Enersis (today Enel Américas). Through a Public Tender Offer, Endesa acquired an additional 32% of Enersis, which, together with the 32% already acquired in August 1997, totaled 64%. This transaction was completed on April 7, 1999 8484 134562Enel Américas´ BusinessesRisk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetrics2020 Managementand involved a US$ 1,450 million investment. As a result of the subsequent capital increase by Enersis in 2003, the 2009 shareholding decreased to the current 60.62%. • On May 11, Enersis (currently Enel Américas) acquired 35% of Endesa Chile (today Enel Generación Chile), in addition to the already owned 25%, thus reaching 60% of the Company´s shareholding. The Company therefore consolidated its position as one of the main private electricity companies in Latin America. 2000 • The Company sold the subsidiaries Transelec, Esval, Aguas Cordillera and real estate assets for US$ 1,400 million. 2001 • The Company made important investments: US$364 million to increase its shareholding in Chilectra (today Enel Distribución Chile), US$150 million for the acquisition of 10% shareholding of Edesur in Argentina, a stake that was held by the Company’s employees; US$ 132 million to increase its shareholding in the Brazilian distribution Company Ampla (today Enel Distribución Río); US$ 23 million to increase its shareholding in Río Maipo, in Chile by 15%, and US$ 1.6 million to increase its shareholding in Distrilima, in Peru by 1.7%. • On October 15, Enersis S.A. (currently Enel Américas) acquired 153,255,366 shares, representing 24% shareholding of its Peruvian subsidiary Enel Generación Perú (formerly Edegel), at PEN 2.72 per share. This was purchased from Generalima S.A.C., a Peruvian subsidiary of Enel Latinoamérica S.A., the parent company of Enersis. With this transaction, the direct and indirect shareholding of Enersis S.A. in Edelnor rose from 33.53% to 57.53%. 2010 • Enersis (currently Enel Américas) sold CAM and Synapsis for US$20 million and US$52 million, respectively. 2012 • The Extraordinary Shareholders' Meeting held on December 20, approved with 81.94% of the Company's total voting shares a capital increase of up to Ch$2,844,397,889,381. The controlling shareholders would subscribe this capital increase with a contribution in kind, corresponding to the entire share capital of Cono Sur, a Company that will bring together the shares that would be contributed by Endesa (Endesa España) to Enersis (now Enel Américas), valued at Ch$1,724,400,000.034. 2002 2013 • The Company acquired Central Termoeléctrica Fortaleza (Enel Generación Fortaleza) located in the Brazilian state of Ceará. Additionally, the Company began the second phase of the commercial operation of the electricity interconnection between Argentina and Brazil, CIEN (today Enel Cien), completing a 2,200 MW transmission capacity between both countries. 2006 • In February, Enersis acquired Termocartagena (142 MW), a Colombian combined cycle power plant which operates either with fuel oil or gas for approximately US$17 million. 2007 • Capital increase: With a record result for this type of operation in the local market, shareholders of Enersis (today Enel Américas) subscribed a total of US$ 6,022 million, placing 100% of the shares available for the capital increase. 2014 • Through a Public Offer for the Acquisition of Shares (OPA in Spanish acronym) 3,002,812 common shares, 8,818,006 type A preferential shares and 424 type B preferential shares of Coelce (today Enel Ceará) were purchased equivalent to an investment of approximately US$243 million. With the completion of this transaction the Company reached a 74.05% direct and indirect stake. • On October 11, Enel S.p.A. took control of Enersis, through Endesa, S.A. • In April, Enersis (currently Enel Américas) signed an agreement to purchase all the shares that 85 Annual Report Enel Américas 2020Inkia Américas Holdings Limited indirectly held in Generandes Perú S.A., equivalent to a 39.01% stake, 2018 with an investment of US$413 million. The transaction ended in September and, as a result, Enersis (currently Enel Américas) achieved a 58.60% shareholding of Edegel (today Enel Generación Perú). • On July 31, Enel Energy Europe S.R.L., currently Enel Iberoamérica SRL, controller of Endesa S.A. (92.06% shareholding) proposed the acquisition of 100% of Endesa Latinoamérica S.A.’s share capital. The transaction was completed in October 2014 and, as a result, Enel S.A. directly controls Enersis (today Enel Américas) with a 60.62% stake in the company. 2015 • On December 18, the Company´s Extraordinary Shareholders’ Meeting approved the corporate restructuring of Enersis and its subsidiaries Endesa Chile and Chilectra (currently Enel Américas). This operation consisted of dividing the generation and distribution activities in Chile from those carried out in the rest of the countries in Latin America both for Enersis and for its subsidiaries Endesa Chile and Chilectra. 2016 • On March 1, the non-material Division of the former Enersis, Endesa and Chilectra was carried out as a result of which Enel Chile and Enel Américas were formed. • On November 30, the Company announced the acquisition of CELG-D (currently Enel Distribución Goiás) for BRL2,187 million. 2017 • On October 4, Enel Perú (wholly owned by Enel Américas S.A.) acquired 47,686,651 shares issued by the subsidiary Enel Distribución Perú. The transaction closed at the price of PEN262,276,580 (equivalent to approximately US$ 80 million) and was carried out on the Lima Stock Exchange. • On September 27, Enel Brasil was awarded a concession to operate the 380 MW Volta Grande power plant. The total investment was BRL1,420 million (US$ 445 million approximately). The concession is for 30 years. 8686 • On June 4, Enel Américas successfully completed the best offer for the acquisition of Eletropaulo (currently Enel Distribución São Paulo), the main distribution company in São Paulo, Brazil acquiring 73.4% of the shares. The following month, all shareholders of Eletropaulo Metropolitana Eletricidade de São Paulo SA were permitted to sell their additional shares, at the same price offered and, on July 4, the transaction was completed with the acquisition of 93.3% of the shareholding of Enel Distribución São Paulo. • Subsequently, in September, Enel Américas completed a capital increase leading to the final shareholding of 95.88%. 2019 • On April 30, the Extraordinary Shareholders' Meeting approved a US$ 3 billion capital increase. The aim of the capital increase was to provide Enel Brasil with funds to pay the debt incurred to acquire Enel Distribución São Paulo and to restructure Enel Brasil's pension fund liabilities. • On September 2, the capital increase was successfully concluded with a subscription of approximately 99.49% of the shares and a gross amount of US$ 3.021 billion. • On November 21, Enel Brasil acquired 1.48% of Enel São Paulo 's shares for BRL49.39 reais per share, becoming the owner of 95.9% of the shares. On the November 27, the Enel São Paulo Shareholders' Meeting approved the redemption of all shares issued in circulation, equivalent to 2.58%, at a price of 49.46 reais per share. 2020 • On September 21, the Company reported in a Significant Event the proposal by the Company's Board of Directors to launch a merger by incorporating the assets of EGP Américas in South America (without Chile) and Central America within Enel Américas: Argentina, Brazil, Colombia, Peru, Panama, Costa Rica, and Guatemala. 134562Enel Américas´ BusinessesRisk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetrics2020 Management • On December 18, an Extraordinary Shareholders' Thermal generation requires fossil fuels and hydroelectric Meeting approved the proposed merger announced plants require water from reservoirs and rivers. Therefore, on September 21, with the accepting vote of about the commercial policy that the generator defines is relevant 81% of the total shares subscribed. Furthermore, the to the correct management of the business. Shareholders' Meeting also approved the amendment to the bylaws in relation to the maximum limit of 65% 55% of Enel Américas' consolidated generation capacity shareholding by any of the Company´s shareholder. comes from hydroelectric sources and 45% from thermal • On April 1, 2021, the aforementioned Merger was completed. Electricity distribution sources. Enel Américas´ Business by Country Through the distribution business, the Company sold 115,213 GWh, delivering power to more than 25.6 million customers. Electricity generation Electricity transmission For Enel Américas, the electricity transmission business is mainly conducted through an interconnected line between In this business segment, Enel Américas owns operating Argentina and Brazil. This is done through Enel Cien, an Enel subsidiaries in Argentina, Brazil, Colombia, and Peru. The Brasil subsidiary, with a 2,200 MW transport capacity. The total net installed capacity of the Enel Américas Group electricity transmission business is highly regulated, which was 11,269 MW and consolidated electricity production our participation through Enel Cien in the interconnection reached 40,455 GWh, while energy sales totaled 66,996 of Argentina and Brazil is a strategic activity within our GWh, as of December 31, 2020. The segmentation of the businesses, with revenues representing 0.4% of the business between hydroelectric and thermal generation is consolidated total of the company. Enel Américas develops natural in the electricity industry since the variable costs of its generation, transmission, and distribution businesses generation are different for different production methods. through its subsidiaries in each country: Country Business Argentina Generation Enel Generación Costanera. Enel Generación el Chocón. Central Dock Sud. Electricity Distribution Edesur. Brazil EGP Cachoeira Dourada. Enel Generación Fortaleza. EGP Volta Grande. Enel Distribución Rio. Enel Distribución Ceará. Enel Distribución Goiás. Enel Distribución São Paulo (formerly Eletropaulo). Colombia Peru Emgesa. Enel Generación Perú. Enel Generación Piura in Peru. Codensa. Enel Distribución Perú. For Enel Américas, the electricity transmission business is mainly conducted through an interconnection line between Argentina and Brazil. This is done through Enel Cien, a subsidiary of Enel Brasil, with a 2,200 MW transport capacity. Electricity Transmission Enel X Enel X's mission is to provide innovative technology solutions and value-added services to create New Value for residential customers (B2C), business (B2B) and cities (B2G). This new segment, launched in 2018, is a global business that leads the energy sector transformation. Enel X helps customers use technology to transform energy into new opportunities, permitting them to thrive and drive progress around the world. Enel X is a global company with strong roots in the energy sector and an open strategy oriented towards digitization, sustainability, and innovation. 87 Annual Report Enel Américas 2020 Argentina Generation Distribution Transmission Córdoba Buenos Aires Mendoza Neuquén Argentina Costanera Type: Net installed capacity: Dock Sud Type: Net installed capacity: Edesur Energy sales: Customers: Power losses(1): Arroyito Type: Net installed capacity: El Chocón Type: Net installed capacity: Motogeneradores Type: Net installed capacity: Thermoelectric plant 2,210 MW Thermoelectric plant 847 MW 15,888 GWh 2.5 millones 18,9% Hydroelectric plant 128 MW Hydroelectric plant 1,200 MW Thermoelectric plant 34 MW *Non-billable consumptions are not included in distribution business (1) Energy Losses correspond to the total losses that include high, medium and low voltage as well as commercial losses and thefts. 8888 134562Enel Américas´ BusinessesRisk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetrics2020 ManagementARGENTINA Generation Distribution 72.09% Edesur 75.62% Enel Gx Costanera 62.69% Enel Gx El Chocón 41.25% Central Dock Sud Generation Distribution Transmission Electricity generation Participation by installed capacity and by business groups by the end of the 2020 period was distributed as follows: Enel Américas S.A. participates in the electricity generation PARTICIPATION BY INSTALLED CAPACITY AND BY and distribution business through Enel Argentina S.A. It is one of the country’s leading groups in this area, with a 4,419 MW installed capacity in generation and with more than 2.5 million customers in distribution. The Company participates in electricity generation through its subsidiaries: BUSINESS GROUPS AS OF DECEMBER 31, 2020 Grupo Enel Pampa Energía (1) SADESA 10.40% 10.52% 12.10% AES National Government Foninvemem Provincial governments Others 10.10% 13.40% 6.40% 5.90% 31.18% Córdoba Buenos Aires Mendoza Neuquén Thermoelectric plant Net installed capacity: 2,210 MW Thermoelectric plant Net installed capacity: 847 MW Argentina Costanera Type: Dock Sud Type: Edesur Energy sales: Customers: Power losses(1): Arroyito Type: 15,888 GWh 2.5 millones 18,9% Net installed capacity: 128 MW Hydroelectric plant El Chocón Type: Net installed capacity: 1,200 MW Hydroelectric plant Motogeneradores Type: Thermoelectric plant Net installed capacity: 34 MW *Non-billable consumptions are not included in distribution business (1) Energy Losses correspond to the total losses that include high, medium and low voltage as well as commercial losses and thefts. • • Enel Generación Costanera S.A. (Costanera): Enel Gx (1): During 2016 it acquired Petrobras Argentina. Costanera Enel Generación El Chocón S.A. (Chocón): Enel Gx El In 2020, 1,319 MW of renewable capacity was added, of Chocón which 242 MW correspond to private projects (MATER) and • Central Dock Sud S.A. (CDS): Central Dock Sud 977 MW to tenders awarded under the RenovAr program. The remaining 100 MW belong to the Renewable Energy Enel Generación Costanera, Enel Generación El Chocón Promotion Project (GenRen). and Central Dock Sud jointly had 4,419 MW of net installed capacity at the end of 2020 representing 10.5% The RenovAr program is part of Law No. 27.191, which of the installed capacity of the Argentine SIN (National establishes a participation plan for this type of energy in Interconnected System). Electricity generation of these the market which, by 2025, should reach 25%. companies reached 13,901 GWh as of December 31, 2020, representing 10.4% of Argentina's total generation. On 27 February 2020, Resolution SE No.31/2020 of the Ministry of Energy replaced Resolution SRR&ME No. Among the most relevant business groups that participate 1/2019 effective as of February 1, 2020. It weighted the in the generation activity in the Argentine Electricity compensation prices at the exchange rate of $60 = 1US$ Market are AES, SADESA and Pampa Energía (which and established a value update in Argentine pesos. The acquired Petrobras Argentina in 2016). Other companies new resolution defines a minimum power remuneration with a relevant market share are YPF Energía and Pluspetrol according to technology and scale pursuant to actual Energía, acquired by YPF. availability, and for thermal units establishing the possibility 89 Annual Report Enel Américas 2020of offering availability commitments with equal differential the performance of the units and the use of liquids (gas oil remunerations for all technologies. and fuel oil) following the restrictions imposed on the plants during an increased residential demand. For thermal generation to be declared up to 30 days before the start of each quarterly period, CAMMESA must activate the value of firm power to be committed for each unit, and Generation As a result of the operation, the generation of Costanera's may establish rates according to seasons: summer, winter, Conventional Units reached 399 GWh net, and the and the remaining period (adjustments can be made in the Combined Cycles generation reached 6,119 GWh net. same period). The remuneration that a unit with a power commitment replaced Resolution SEE No. 01/2019 establishing the will receive will be proportional to its compliance and the guidelines for the remuneration of existing generation minimum value is calculated based on the minimum price. plants. More details can be found in the previous section In February 2020, Resolution SRR and ME No. 31/20 Power remuneration will be affected depending on the use on Power Generation. factor of thermal generation equipment. Resolution SE No. 31/2020, through Annex VI – Update of Resolution 2019-12-APN-MDP replacing Resolution values established in Argentine pesos, established that the 2018-70-APN-SGE. It was established that the commercial remuneration values expressed in Argentine pesos will be management and the dispatch of fuels from the Wholesale updated every month according to CPI development (60%) Electricity Market (MEM) plants was re-centralized in IPIM (40%), published by INDEC. the dispatch agency. This situation remained the same On 30 December 2019, the Official Gazette published In April 2020, in a note issued by the secretariat regarding the Transactional Update Factor, CAMMESA was instructed to postpone the implementation of Annex VI – Update of values established in Argentine pesos, of Resolution Secretariat of Energy No. 31/2020 until a new decision is taken. Enel Generación Costanera S.A. Location The city of Buenos Aires. Installed capacity It has six turbo steam units totaling 1,062 MW net capacity, which can generate energy using either natural gas or fuel oil. It also operates two combined cycles of 851 MW and 297 MW net respectively with 2,210 MW total net installed capacity. throughout 2020. Enel Generación El Chocón S.A. Location Enel Generación El Chocón S.A. is a company that operates the El Chocón and Arroyito hydroelectric power generation plants located on the Limay River, in the Neuquén and Río Negro provinces. The Chocón is located in the Comahue Region, formed by the Argentine provinces of Río Negro, Neuquén and the southern part of the provinces of Buenos Aires, on the Limay River, some 80 km upstream from its confluence with the Neuquén River. Arroyito is El Chocón´s compensating dam and is located on the same river, 25 km downstream. Installed capacity The hydroelectric complex has a 1,362 MW total net installed capacity and comprises the El Chocón plants, with a 1,234 MW net installed capacity (hydraulic accumulation In 2020, CAMMESA made dispatches from the Argentine reservoir power plant) and Arroyito with a 128MW net Interconnected System (SADI in Spanish acronym) as installed capacity using the waters of both the Limay and established by the Ministry of Energy. It is in this context that Collón Curá rivers to generate energy. The Company has a dispatch was maintained prioritizing natural gas, considering 1,328 MW net installed hydraulic capacity and with 34 MW 9090 134562Enel Américas´ BusinessesRisk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetrics2020 Managementnet thermal capacity corresponding to motor generators. It has a 3.3% stake in the SADI as compared to the total Central Dock Sud (CDS) installed capacity. Generation The hydrological year that started on April 1 was described as a dry year according to the spills accumulated in the Limay and Collón Cura rivers. Net generation recorded by the Company during the year was 2,922 GWh. This production consisted of 2,266 GWh from El Chocón (78%), 594 GWh from Arroyito (20%) and 62 GWh from motor generation (2%). The Company began 2020 with a reservoir level of 378.13 meters above sea level (m.a.s.l). The reservoir reserve in El Chocón was 2,280 GWh and in the Comahue plant it was 6,235 GWh. Both values were measured with respect to the minimum level condition of the Extraordinary Operation Band (FOE in Spanish acronym). At the end of the 2020 financial year, the reservoir level reached 373.36 m.a.s.l. The energy reserve in the Comahue reservoirs was 4,980 GWh, of which 1,548 GWh correspond to the El Chocón reserves. In February 2020, Resolution SRR and ME No. 31/2020 replaced Resolution SEE No. 01/2019 establishing the guidelines for the remuneration of existing generation plants. This is detailed in the Electricity Generation section. Location In the Avellaneda neighborhood, Buenos Aires province. Installed capacity The Dock Sud (CDS in Spanish acronym) plant owns and operates a thermal power plant, with a 847 MW total net capacity. It has four gas turbines and a steam turbine; two of the gas turbines and the steam turbine comprise a combined cycle. At the end of the period, the installed capacity of the plant accounted for 2.01% of the SIN´s total installed capacity. Generation The energy generated by Central Dock Sud in 2020 was 4,461 GWh, with a 5.4% participation of thermal generation and covering 3.5% of the SADI demand. In February 2020, the former Secretariat of Renewable Resources and Electricity Market under the former Ministry of Finance, issued Resolution No. 31/2020 which updated the remunerative values of Resolution SEE No. 01/2019. The implementation of Resolution No. 31/2020 weighted the remuneration of thermal and hydraulic generators, maintaining the same remuneration concepts: a variable production charge depending on the type of fuel (which varies according to technology and unit sizes) and another one that depends on the available power. Furthermore, it maintained the possibility of offering guaranteed availability commitments and additional guaranteed availability (DIGO in Spanish acronym), with different remunerations and depending on availability, regardless of the technology offered. 91 Annual Report Enel Américas 2020Activities and Projects in the generation segment Generation Activities and Projects Currently, Costanera has no projects for the expansion of installed capacity - combined cycle underway. Land reserved for future projects In Argentina, Enel Américas does not have land reserved for future projects. Electricity Distribution Edesur according to Enel criteria. The value reached by the SAIFI during the year 2020 was 4.5 times. Despite the agreements reached in the last RTI, after the agreement Law No. 27.541 on Social Solidarity and Productive Reactivation was published as part of the public emergency caused by COVID-19. This meant it was necessary to implement changes to the validities and updates agreed in the tariff tables, mainly after multiple negotiations between ENRE and Edesur and a tariff freeze has been agreed which will last for the whole duration of the health emergency. The same emergency has made it necessary to implement temporary changes in the way the Company operates, such as the prohibition to suspend basic services in certain The Company´s main purpose is to distribute and circumstances. Additionally, Edesur was authorized to use commercialize electricity in the southern part of Greater the entire SmartMeters park installed in its concession area Buenos Aires, comprising two-thirds of the Autonomous for billing, thus endorsing the new installed technology. City of Buenos Aires (CABA in Spanish acronym) and 12 municipalities of the Buenos Aires province, covering In December 2020, the Executive Branch of the Nation 3,309 km2 for a period of 95 years, as of September 1, issued the DNU 1020, which extended the tariff freeze 1992. This period consists of an initial 15-year term and for a maximum of 90 days, or until the tariff table that eight additional 10-year terms each. Regardless of the responds to a Transitional Agreement enters into force, renewal of the concession period, the fees charged to end whichever comes first thus starting a new Comprehensive customers are subject to the regulation established by Tariff Renegotiation Process whose result will be the Final the Integral Tariff Renegotiation (RTI in Spanish acronym) Renegotiation Agreement which will enter into force within a process that takes place every 5 years and is agreed two years. Such negotiation is the exclusive responsibility between the distribution company and the National of regulatory bodies authorizing them to set transition Electricity Regulatory Entity (ENRE in Spanish acronym), rates and to segment tariff categories. this renegotiation, apart from establishing the tariff system, imposes compliance and electricity service quality for end customers on the Distribution Companies. Energy Sale In 2020, Edesur delivered electricity services to 2.5 million customers. Of this, 88.4% was delivered to residential, 10.8% The last authorized tariff table for the collection of to commercial, 0.8% to industrial and other customers. energy distributed between ENRE and Edesur has been valid between February 1, 2017 and January 31, 2022, At the end of the period, Edesur´s market share was 16.8%, during which time the service quality regime increases in terms of the number of customers in Argentina. its requirements, as investments and operational improvements that Edesur proposed under the RTI are At the end of 2020, energy sales reached 15,888 GWh, expected to mature. This means that quality parameters including distribution services (tolls) to large users, 5.4% increase their demand, and the cost of un-supplied less as compared to 2019. 45.8% was delivered to the energy will increase over the period, reaching the full residential sector, 21.8% to the commercial segment and values only in the last six months. 32.4% to the industrial sector and others. It is worth mentioning that SAIDI (one of the service quality In 2020, the annual mobile loss rate - technical and indices) improved in 2020 as compared to 2019 reducing non-technical - reached 18.92%, a poorer result than its value by 6.2 hours, and the final value was 14.0 hours - in 2019 (15.5%) despite the actions taken to mitigate the 9292 134562Enel Américas´ BusinessesRisk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetrics2020 Management phenomenon. This result is mainly due to a 3.57% increase municipality of Quilmes, providing new supply to the General in theft "aggressiveness" which is explained by analyzing Belgrano water treatment plant, with total capacity of 21 MW. the macroeconomic scenario and the increase in poverty levels stemming from the pandemic in Argentina. Medium/low voltage Customer Care In 2020, 1,346 customers were served between new When we analyze this phenomenon, we can find several supplies and power increases, of whom 1,304 were T1, T2 causes, the most relevant is the significant deterioration and T3 low voltage customers and the remaining 42 were of the socioeconomic level of our users as a result of T3 medium voltage customers. The most relevant were the social isolation, falling consumption of large customers following ones: (industries, businesses, among others), which gave certain stability to the distributed energy, increasing direct and non-customer connections in sectors with a high level of informality and low purchasing power; and an increased • • • FOETRA- Medical Center for Pensioners - CABA Laboratorio Casasco S.A.I.C. - CABA IRSA INVERS. Y REPRESENT. S.A. - CABA theft "aggressiveness" because of the incentives of • CMC Di Ravena Argentina - Quilmes those who propose solutions to carry out fraud on social • Rexam Argentina S.A. – Almirante Brown networks. In short, it can be seen that the pandemic, the • Diserglass S.R.L - Quilmes isolation, the increase in unemployment and poverty levels • Laboratorios Aspen S.A. – San Vicente led to higher non-technical losses. • Aeropuertos Argentina 2000 S.A. – Ezeiza . Activities and projects in the distribution segment Regarding the 2020 Investment Plan, the amount invested in the period was ARS9,468.04 million. The following figures describe the most relevant projects In the context of the health emergency, new essential supplies (medical centers, laboratories, schools) were served, implementing 8 km of medium and low voltage networks and assembling/repowering seven processing centers. Improvement in medium/low voltage network infrastructure To comply with quality improvement requirements in 2020, that were completed during the period: Edesur expanded and renovated its network by 102 km of medium voltage and 103 km of low voltage. Renovation of the Triple line 104 Reconquista Nuevo Puerto It is a 3.7 km 132 KV line of 1.200 mm2 underground cable Regarding transformation centers, 253 TCs were involved, including new processing centers, renovation of with XLPE insulation in a simple triple line between the electromechanical equipment and increases in installed Reconquista and Nuevo Puerto substations. This work capacity. improved the operation of the system cargo transfers between the northern and southern areas of the GBA. Glew substation extension from 2x40 MVA to 2x80 MVA This is a modification and an extension of the current Glew Main actions focused on improving service quality St. Vincente Shock Plan: A new feeder line was implemented in the rural area of San Substation, from 2x40MVA to 2x80 MVA. Installation of 16 Vicente apart from the medium voltage Line Mechanical cells of 13.2 KV, finally reaching 32 medium voltage outputs Reinforcement on Route No. 6. 14 new telematic control available. 11 new medium voltage feeders were laid out, centers were installed, benefiting 14,000 inhabitants of the with a total length of 45 km of new networks. The work will Cañuelas municipality. benefit 60,000 customers from the following municipalities: Admiral Brown, Esteban Echeverría, and Presidente Perón and San Vicente. New High Voltage customers In 2020, the Company completed the work of delivery and Cañuelas Shock Plan: 24 km of Medium Voltage Airborne Line was renovated, mounted on new reinforced concrete structures on the line that runs along Route 16, benefiting the town of Gobernador Udaondo and the southern part of the measuring of high voltage – 132 kV for Aysa - Bernal in the Cañuelas municipality. 93 Annual Report Enel Américas 2020Standardization Plan of Vulnerable Neighborhood: To address the effect of low temperature and increased low voltage networks plan was put in place in 2020 to detect situations that might lead to failures and affect service quality. It included activities such as visual and residential electricity demand because of Preventive and thermal inspections of airborne networks, inspections of Mandatory Social Isolation (ASPO in Spanish acronym). 35 substations and transformation centers, detecting and initiatives were carried out in CABA and the Province of correcting existing anomalies. The most important was Buenos Aires, totaling 32 km in medium and low voltage the inspection of the entire high voltage airborne network networks, and 18 repowers and/or new processing centers. (316 km), both by land and by air, which allowed to take photographs, videos, and thermography images. Technological network improvement: In 2020, the Company continued the process of improving Within the COVID-19 pandemic framework, the Company the SAIDI indicators installing 130 additional remote-control carried out a Special Maintenance Plan to minimize any pieces of equipment at different points of the medium potential impact on the electricity supply for hospitals, voltage network, accounting for more than 1,705 points clinics, modular hospitals, isolation centers, sanatoriums, installed, for a more efficient operation of the medium and other public and private health facilities. The Plan voltage network. identified transformation centers (651 in total), inspection of facilities, diagnosis of network status, detailed prioritization Poor neighborhoods: To update the connection in all poor dwellings which of the work to be carried out and immediate maintenance and improvement actions. In the months leading up to did not have installed meters, a mass standardization winter, a special plan was carried out in the outlets that plan was initiated in many of the neighborhoods and / or provide energy to popular neighborhoods. Inspections settlements with predominant deficiency characteristics. were carried out in supply centers, load measurements, In 2020, more than 7,500 cases were normalized involving grounding measures, and thermography. the 12 municipalities of the Buenos Aires province where prior awareness campaigns were also carried out to explain As part of the Summer Plan, the Company took the this new condition together with their social inclusion as necessary actions to resolve the unavailability of medium customers. and low voltage underground cables, medium voltage, and remote-control equipment to restore their normal Network system improvements: Data architecture of the CERTA database was carried out in operating conditions. An extraordinary pruning plan was also carried out in medium voltage feeders in different 2020. This will permit the Company to obtain cloud backup areas of Greater Buenos Aires. In 2020, the Company of the data stored on physical servers. continued to install Alternative Energy Sources (AES) for Network maintenance management: A Comprehensive Maintenance of high, medium, and electro-dependent users, but the initiative it was affected during the pandemic period because of less frequent contact with this type of customers. Manaus Belén Brasilia Goiana Río de Janeiro Sao Paulo Generation Distribution Transmission Brasil Enel Distribución Ceará Energy sales: Customers: Power losses(1): Central Fortaleza 11,866 GWh 4,0 million 15.9% Type: Thermoelectric plant Net installed capacity: 319 MW Cachoeira Dourada Type: Hydroelectric plant Net installed capacity: 655 MW Enel Distribución Goiás Energy sales: Customers: Power losses(1): 14,469 GWh 3.2 million 11.4% Enel Distribución Río Energy sales: Customers: Power losses(1): Volta Grande 11,228 GWh 2.9 million 22.1% Type: Hydroelectric plant Net installed capacity: 380 MW Enel Distribución São Paulo Energy sales: Customers: Power losses(1): Enel CIEN 40,350 GWh 7.9 million 10.6% Transmission lines 2,200 MW 9494 *Non-billable consumptions are not included in distribution business. (1) Energy Losses correspond to the total losses that include high, medium and low voltage as well as commercial losses and thefts. 134562Enel Américas´ BusinessesRisk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetrics2020 ManagementBrazil Generation Distribution Transmission Manaus Belén Brasilia Goiana Río de Janeiro Sao Paulo 11,866 GWh 4,0 million 15.9% Brasil Enel Distribución Ceará Energy sales: Customers: Power losses(1): Central Fortaleza Type: Thermoelectric plant Net installed capacity: 319 MW Cachoeira Dourada Type: Hydroelectric plant Net installed capacity: 655 MW Enel Distribución Goiás Energy sales: Customers: Power losses(1): Enel Distribución Río Energy sales: Customers: Power losses(1): Volta Grande Type: Hydroelectric plant Net installed capacity: 380 MW Enel Distribución São Paulo Energy sales: Customers: Power losses(1): Enel CIEN Transmission lines 14,469 GWh 3.2 million 11.4% 40,350 GWh 7.9 million 10.6% 11,228 GWh 2.9 million 22.1% 2,200 MW *Non-billable consumptions are not included in distribution business. (1) Energy Losses correspond to the total losses that include high, medium and low voltage as well as commercial losses and thefts. 95 Annual Report Enel Américas 2020BRAZIL Generation Distribution Transmission 99.75% Cachoeira Dourada 99.96% Enel Dx Goiás 100.00% Enel Cien 100.00% Enel Gx Fortaleza 100.00% Volta Grande 99.73% Enel Dx Rio 74.05% Enel Dx Ceará 100.00% Enel Dx Sao Paulo Electricity generation Generation Net generation in 2020 was 2,866 GWh and sales reached Enel Américas participates in electricity generation 19,660 GWh. through Enel Brasil and its subsidiaries: Enel Green Power Cachoeira, Volta Grande and Enel Generación Fortaleza. These three plants, two hydroelectric and one thermal, add Volta Grande up to a total net power of 1,354 MW, representing 1.0% of Through Enel Brasil, its subsidiary, Enel Américas, acquired the Brazilian SIN´s capacity. in 2017 the right to operate the Volta Grande hydroelectric plant for a 30-year period. The concession cost BRL1,420 The Group's electricity generation in Brazil reached million (approximately US$ 420 million). With this 4,823 GWh or 1.0% of the total electricity generated in acquisition, Enel Brasil increased its hydroelectric capacity that country (thermoelectric plus hydroelectric), with in Brazil by 40% (compared to 2017). hydroelectric production in 2020 reaching 96% of the total energy generated by Enel Américas in Brazil. Location In the Rio Grande, between the Brazilian states of São Paulo Other generators connected to the Brazilian SIN system and Minas Gerais. are Eletrobras, Cemig, Cesp, Copel, ENGIE, CTG, Iberdrola, CPFL and AES. Capacity It has a 380 MW net installed hydroelectric generation Cachoeira Dourada capacity. Location It is located in the State of Goiás, 240 km south of Goiania. Generation Net generation in 2020 was 1,745 GWh and sales reached 2,000 GWh. Capacity It has ten generating units with 655 MW of net installed capacity and is a run-of-the-river hydroelectric plant that uses the waters of the Paranaiba River. 9696 134562Enel Américas´ BusinessesRisk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetrics2020 ManagementEnel Generación Fortaleza Location It is located in the municipality of Caucaia, 50 km from the capital of the state of Ceará. Capacity It is a combined cycle thermal power plant with 319 MW of net installed capacity. The plant uses natural gas and can generate a quarter of Ceará's electricity requirements, a state which is home to a population of about 9 million people. It is part of the infrastructure of the Pecém Industrial and Port Complex and integrates the Priority Thermo- electricity Program (PPT) of the Federal Government. Its location is strategic to boosting regional growth and makes it possible to install other industries in the region. Its main client is Enel Ceará. On 31 August 2020, Central Generadora Termolétrica Fortaleza and its main supplier, Petrobras, requested by mutual agreement to withdraw from the dispute related to the supply of gas to the plant and guaranteed its supply of fuel notwithstanding maintaining the contract. Generation The 2020 power generation was 212 GWh, while its sales Activities and Projects in the generation segment reached 3,636 GWh. Activities and Projects in the generation segment Land reserved for future generation projects. Currently there is no land reserved for future projects. Electricity transmission Compañía de Transmisión del Mercosur S.A. (CTM) and Transportadora de Energía S.A. (TESA), Enel Cien maintains control of 100% of the capital in both companies. The interconnected system consists of two transmission lines, with a total extension of 1,006 km, and the Garabi Converter Station, SE STA (Santo Angelo/RS) and SE YTA (Itá/SC). In June 2020, ANEEL approved the result of the Enel Cien Tariff Review for 2019. The new Annual Permitted Remuneration (RAP in Spanish acronym) entered into force retroactively from July 1, 2019. A tariff adjustment and an update of the APRs took place the same month. The Enel Cien's figures are: Garabi I (RAP: BRL148.6 million) and Garabi II (RAP: BRL179.3 million). The concession of the Garabi I facilities expired in June 2020 and Enel Cien was, on that date, appointed by the Concessionaire Authority to operate the assets, receiving the RAP from the tariff review mentioned above. Although the concession will not be renewed, Garabi I will operate until August 2022 when the successful tenderer will resume operations. Electrical Distribution in Brazil Enel Américas participates in the distribution of electricity through Enel Brasil and its subsidiaries Enel Distribución Rio, Enel Distribución Ceará, Enel Distribución Goiás and Enel Distribución São Paulo. Enel Américas directly and indirectly holds an economic share of 99.7%, 74.1%, 99.9% and 100%, respectively of said companies. The main distributors in Brazil that make up the electrical The Enel Américas group is also involved in the transmission and system are CPFL, Cemig, Light, Iberdrola, Copel and marketing of electricity in Brazil through the interconnected Equatorial. line between Argentina and Brazil. It does so through Enel Cien, where it owns almost 100% of the company. Enel Distribución Rio Enel Cien Enel Distribución Rio (ex Ampla) is an energy distribution company serving 73% of the territory of the State of Enel Cien is an energy transmission company in Brazil. Rio de Janeiro, corresponding to a 32,615 km2. Area. The The plant complex consists of two frequency conversion population is approximately 7 million inhabitants, spread stations called Garabi I and Garabi II, which convert, both over 66 municipalities. The most important are Niterói, São ways, the Brazilian and Argentinian frequencies (60 Hertz) Gonçalo, Petrópolis, Campos and Cabo Frío. and (50 Hertz) respectively, and the transmission lines. On the Argentine side, they are managed by two subsidiaries: 97 Annual Report Enel Américas 2020In terms of energy losses, Enel Distribución Ceará closed 2020 with a 15.9% loss which means a 2.0 p.p. increase as compared to 2019, which recorded a 13.9% loss. Enel Distribución Ceará recorded a SAIDI of 15.9 h. vs. 13.92h in 2019, while SAIFI was 6.0x vs. 5.5x in 2019. Enel Distribución Goiás The company is located in central-western Brazil, covering a 336,871 km2 concession area. It serves a population of more than 7 million inhabitants. Physical energy sales in 2020 were 14,469 GWh, increasing by 0.7% as compared to 2019 (14,365 GWh). These involved 37.2% supplied to residential customers, 13.6% to commercial customers and 49.2% in tolls and others. Customers In 2020, Enel Distribución Goiás supplied electricity to 3.2 million customers. The customer type rating indicates that 85.8% were residential, 6.8% commercial, while other customers account for 7.3%. In terms of energy losses, Enel Distribución Goiás closed 2020 with a 11.39% los, a decrease of 0.18 p.p. as compared to 2019 (11.57%). There was an improvement in the quality indicators of Enel Distribución Goiás, which closed 2020 with a 31% reduction as compared to 2019 (15.9h vs 23.06h) in SAIDI and 12% in SAIFI as compared to 2019 (8.5x vs 9.7x). Enel Distribución São Paulo Enel Distribución São Paulo is present in 24 cities in the Metropolitan Region of São Paulo, including the capital, Brazil's main economic and financial center. Its concession area, totaling 4,526 km2, concentrates the highest national GDP and the highest population density in the country: 1,647 consumer units per km2 with 18 million people, corresponding to 9% of the Brazilian population. Customers In 2020, Enel Distribución Rio delivered electricity to 2.9 million customers where 85.7% are residential customers, 4.5% commercial customers and 9.8% other users. Energy sales in 2020 reached 11,228 GWh, a 2.93% reduction from 2019. The distribution of physical sales at the end of the period was 43.0% for residential customers, followed by commercial customers with 13.9% then industrial customers plus other customers and tolls accounting 43.1% of all sales. Enel Distribución Rio places great emphasis on combating energy theft, with projects using state-of-the-art technology and social actions. In terms of energy losses, Enel Distribución Rio closed 2020 with a 22.1% energy loss, as compared to 2019 which means a 1.1 p.p increase. Enel Distribución Rio also works on improving quality indicators. In 2020, Enel Rio reduced SAIDI (times without energy supply) by 20.4% as compared to 2019 (10.52 h vs 13.22h) and SAIFI (frequency of supply interruptions) by 23.9% as compared to 2019 (6.1 vs 8.0x). Enel Distribución Ceará It is an energy distribution company located in the State of Ceará, in northeastern Brazil, and covers a 148,921 km2 concession area. The company serves a population of more than 9 million inhabitants. Customers In 2020, Enel Distribución Ceará supplied electricity to 4 million customers, where 79% were residential customers, 5% commercial customers and 16% other users, with rural customers being the highest percentage, with 15%. Energy sales in 2020 reached 11,866 GWh, a 2.7% decrease as compared to 2019. Physical energy sales were distributed to residential customers, with 41%; commercial customers with 14%; followed by industrial customers, tolls and other customers accounting for 45%. 9898 134562Enel Américas´ BusinessesRisk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetrics2020 Management Customers In 2020, Enel Distribución São Paulo supplied electricity to 7.9 million customers. Of the total, 93.6% were residential customers, 5.6% for commercial customers and 0.8% other users. Physical energy sales in 2020 totaled 40,350 GWh, a 6.5% reduction as compared with 2019. A large part of this figure corresponds to residential customers, representing 39.8% of physical sales, followed by commercial customers with 23.2% of sales, then industrial customers and other customers with 36.9% of sales. Enel Distribución São Paulo registered SAIDI of 7.4h (vs. 6.27h in 2019), while SAIFI was 3.6x (vs. 3.5x in 2019). In 2019, certain operations were carried out to simplify and optimize the Company´s corporate structure and, as a result, Enel Brasil concluded 2019 with 100% of the shares of Enel Distribución São Paulo which means that that the Enel Group is the Company´s sole shareholder. The projects are supported by itinerant trucks equipped with an explanatory model of the process of power generation, transmission and distribution, consumption simulators and interactive totems with fun activities for all ages. The mobility of the project guarantees access to information for residents and students from many places located far from the metropolitan area. Enel Brasil's energy efficiency program in 2020 focused on carrying out and delivering projects contemplated in the “Chamadas Públicas de Eficiencia Energética” for large public and private customers (hospitals, universities, street lighting, military institutions) and also in joint activities with the I&N line of business to combat losses, promote population security and regularize clandestine customers. In this context, the actions carried out included: energy diagnosis, participation of community leaders, registration in the social tariffs, entrepreneurship to improve the ability to pay electricity bills and other conscious consumption initiatives for low-income customers located in areas of social vulnerability. The resources invested by distributors are regulated and equal to 0.4% of the companies' net Distribution activities and projects operating income. Energy efficiency Energy efficiency projects include actions to stimulate conscious energy consumption, equipment change (refrigerators, air conditioners, lights, lamps) and electrical wiring, with a significant impact on energy consumption and improved energy efficiency in homes. The COVID-19 global pandemic affected projects that were being carried out in a face-to-face format but accelerated the digitization of many events and proportionally on a larger geographical scale. Also, in times of sanitary flexibility, it was possible to continue the works and deliveries of equipment, complying with all health and safety guidelines. In 2020, more than 730 thousand people benefited from the 229 projects launched by Enel Distribución Rio, Enel Distribución Ceará, Enel Distribución Goiás and Enel Distribución São Paulo. Among them were Ecoenel and the Enel Compartilha platform projects: Enel Compartilha Eficiência, Enel Compartilha Luz Solidária, Enel Compartilha Energia nas Escolas and Enel Compartilha Consumo Consciente. 259,529 lamps and 18,830 refrigerators were changed in the equipment change initiatives. Enel X projects in Brazil The corporate purpose of Enel X Brasil S.A is to provide services in general, of any nature or specialty, both directly and indirectly related to activities in the electricity sector and in other sectors of the economy and consumption in general. In 2020, the Company focused on the following lines of business and products: home, corporate and institutional customers, distributed generation, UBM (Utility Billing Management) street lighting solutions and E-Mobility. The most important projects during the period include: (i) public lighting solutions under the PPP (Public Private Partnerships) model considering the awards in the Angra dos Reis and Macapá tenders, energy efficiency solutions, planning solutions for smart cities and for electric public transport and electrification of bus fleets; and (ii) network and platform solutions to recharge electric vehicles, the sale of 900 recharging units and signing important alliances with car manufacturers and companies. 99 Annual Report Enel Américas 2020Colombia Laguneta Type: Net installed capacity: Termozipa Type: Net installed capacity: Cartagena Type: Net installed capacity: El Paraíso Type: Net installed capacity: Limonar Type: Net installed capacity: Codensa Energy sales: Customers: Power losses (1) Tequendama Type: Net installed capacity: El Salto II Type: Net installed capacity: Darío Valencia Type: Net installed capacity: Charquito Type: Net installed capacity: La Guaca Type: Net installed capacity: Betania Type: Net installed capacity: El Quimbo Type: Net installed capacity: El Guavio Type: Net installed capacity: Hydroelectric plant 18 MW Thermoelectric plant 225 MW Thermoelectric plant 184 MW Hydroelectric plant 276 MW Hydroelectric plant 18 MW 13,834 GWh 3.6 Million 7.6% Hydroelectric plant 57 MW Hydroelectric plant 35 MW Hydroelectric plant 150 MW Hydroelectric plant 19 MW Hydroelectric plant 324 MW Hydroelectric plant 540 MW Hydroelectric plant 400 MW Hydroelectric plant 1,260 MW Barranquilla Medellín Cali Neiva Bogotá Generation Distribution Transmission *Non-billable consumptions are not included in distribution business. (1) Energy Losses correspond to the total losses that include high, medium and low voltage as well as commercial losses and thefts. 100100 134562Enel Américas´ BusinessesRisk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetrics2020 ManagementColombia Laguneta Type: Termozipa Type: Cartagena Type: El Paraíso Type: Limonar Type: Net installed capacity: 18 MW Hydroelectric plant Net installed capacity: 225 MW Thermoelectric plant Net installed capacity: 184 MW Thermoelectric plant Net installed capacity: 276 MW Hydroelectric plant Net installed capacity: 18 MW Hydroelectric plant Codensa Energy sales: Customers: Power losses (1) Tequendama Type: 13,834 GWh 3.6 Million 7.6% Hydroelectric plant Net installed capacity: 57 MW El Salto II Type: Hydroelectric plant Net installed capacity: 35 MW Darío Valencia Type: Net installed capacity: 150 MW Hydroelectric plant Charquito Type: La Guaca Type: Betania Type: El Quimbo Type: El Guavio Type: Net installed capacity: 19 MW Hydroelectric plant Net installed capacity: 324 MW Hydroelectric plant Net installed capacity: 540 MW Hydroelectric plant Net installed capacity: 400 MW Hydroelectric plant Net installed capacity: 1,260 MW Hydroelectric plant Barranquilla Medellín Cali Neiva Bogotá Generation Distribution Transmission *Non-billable consumptions are not included in distribution business. (1) Energy Losses correspond to the total losses that include high, medium and low voltage as well as commercial losses and thefts. COLOMBIA Generation Distribution 48.48% 48.30% Emgesa Codensa Electricity Generation In Colombia, Enel Américas´ electricity generation reached 20.2% of the total energy generated in that market in 2020. It is the largest power generation company in Colombia in relation to its net installed capacity and is positioned as the second largest company nationally in generation. Enel Américas participates in electricity generation in Colombia through Emgesa, its subsidiary. It directly controls 48.5% of all shares (economic ownership) and 56.4% of voting shares (political property). Other generators in Colombia's electricity system are: Empresas Públicas de Medellín, Isagen, Gecelca, Celsia and Chivor Emgesa In Colombia, Enel Américas´ energy generation reached 20.2% of market share of all energy generated in 2020. On September 1, 2007, Colombian companies Emgesa S.A. E.S.P. and Central Hidroeléctrica de Betania S.A. E.S.P. merged, the latter absorbing the first and changing their post-merger name to Emgesa S.A. E.S.P. Capacity Emgesa has 14 plants with a total net capacity of 3,506 MW. The plants include El Guavio with 1,260 MW, the largest hydroelectric plant in the country. Of the 14 existing power plants, 12 are hydroelectric and two are thermal. Generation Net generation reached 14,009 GWh in 2020, with hydraulic generation totaling 13,313 GWh (95.0%) and thermal generation 696 GWh. (5.0%). Hydrological context At the end of 2019 and in early 2020, ENSO (El Niño Southern Oscillation in its English acronym) conditions in the Central Pacific were warm at ocean level. However, there was no atmospheric response typical of the El Niño phenomenon. During the first half of 2020, the contributions of the main rivers at national level (SIN) were in deficit not because of the incidence of the El Niño phenomenon, but because of the intra-seasonal atmospheric phenomena that subdued rainfall most of the time in Colombia. In the second half of the year, the contributions recovered to some extent, although not as expected. Only in the months of July and November precipitation contributions were slightly above the historical average; the hydrological contributions accumulated in 2020 from the Bogota afferent basin were above the historical average. The opposite case was Quimbo, Guavio and Betania´s own basin, all registering deficit contributions. Effective maintenance management of generation plants and production management milestones In 2020, Emgesa's net power generation reached 14,009 GWh, down by 8.0% from 2019, mainly due to lower energy demand caused by the COVID-19 pandemic. The Company focused on keeping its generation assets available to meet system requirements at the time of the health emergency. At the same time, there were lower 101 Annual Report Enel Américas 2020 water inputs, which meant lower hydraulic generation and an increase in thermal generation due to the increased requirement from the plants of the national interconnected system, which positioned Emgesa as the country´s second largest generator with 20.2% of total generated energy. The availability of the Emgesa generator park in 2020 was 90.3%, keeping in line with the 2019 result. In total, 180,688 hours of service from Emgesa generation units were recorded in 2020, 3,227 hours more than in 2019. The utilization factor was 45% as compared to 50% in 2019. Generation activities and projects Improvements in the Termozipa Thermoelectric Plant The Emgesa plant is a thermoelectric plant located some 40 km from Bogota. It consists of four units with 225 MW net installed capacity. In 2020, thermal generation management focused on completing the works associated with the Life Extension project, the implementation of the BESS (Energy Storage System) system and improving boiler reliability. The main activities carried out were: • The completion of the installation of the first BESS in Colombia, which will permit the plant to increase its net effective capacity while maintaining compliance of the service supply of primary frequency regulation. Taking into consideration the entry into operation of Units 2, 4 and 5 of this new system. regulatory evidence was presented; Unit 3 evidence will be presented in January 2021. • Legal emissions tests were carried out for the four units. All concluded with satisfactory results thanks to the operational controls established by the plant as a result of the interventions of the Life Extension project and improving environmental performance. The new water plant was implemented to high-level quality standards which will guarantee long-term integrity of the boilers. Improvements to the Guavio Hydroelectric Plant In 2020, the excitation system of Units 2 and 4, as well as the speed and voltage regulators in the minor units were modernized. The Unit 5 stator coiling rewind and plating was also commissioned. Work was also carried out to recover the Chivor and Batatas river diversion tunnels, as well as the cave access tunnel. Automation & Telecontrol Project at the Bogota River Plant The Company continued to implement the Automation & Telecontrol project of the Bogota River Plants. The project involved different activities such as the implementation of the new monitoring and remote operation center in the Guaca plant, the integration of the Salto, Laguneta, Limonar and Dario Valencia plants into a single control center, the launch of the first-generation equipment automation of the Pagua Chain (Paraíso and Guaca plants) and the supervision of engineering, testing, and manufacturing activities of the equipment required to automate and remotely control the units. Land reserved for future projects Enel Américas does not have land reserved for future projects in Colombia. Main 2020 Milestones Commercial Management - Wholesale Market Energy purchase and sale operations in the wholesale market are carried out in large blocks, between generators and marketers to pursue long-term contracts subject to established prices and quantities. In 2020, Emgesa sold energy in the wholesale market through contracts, as a result of public tenders or private invitations, reaching 9.5 TWh in sales, distributed between 2020 and 2028. Sale of carbon bonds and green certificates Searching for innovation and diversification of its services associated with electricity, Emgesa has entered the carbon bond market, certifying the El Quimbo, Darío Valencia 102102 134562Enel Américas´ BusinessesRisk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetrics2020 ManagementSamper, El Salto II, Tequendama and Guavio Menor plants. The projects described above correspond to Codensa 's The certificates associated with these plants may be used vision of managing the networks to achieve global standards to mitigate Greenhouse Gases by customers interested in in service quality, attending to demand growth, coverage the voluntary carbon market. of street lighting through projects under scenarios of increased investment and operations, implementing Another state-of-the-art product offered by Emgesa to its actions in the networks thus achieving satisfactory results customers are IREC certificates issued by the International for all our customers in the aspects described above. REC Standard which guarantees that the energy consumed over a given period has been generated from Thanks to the technical inspection plan and the conventional renewable energy sources. In 2020, Emgesa management of actions aimed at reducing energy losses, a helped 36 customers from the Unregulated Market to 7.6% loss rate was achieved in 2020 as compared to 7.7% in obtain this green certificate, which represented a 306 GWh 2019, reaching a 21 GWh decrease in non-technical losses consumption per year. Electricity Distribution Codensa Codensa is Enel Américas' energy distribution and marketing company in Colombia and ranks as the first largest energy distributor in the country, with a 20.2% stake in the sector, supplying electricity to more than 3.6 million customers in Bogota in more than 110 municipalities, mainly in Cundinamarca. In 2020, Codensa developed important infrastructure projects focused on quality, sustainability, and growth, achieving significant progress despite the COVID-19 contingency. One of the most relevant results was improving the annual average interruption frequency of 5.59 times in SAIFI and in SAIDI the duration of 467 minutes, according to the calculation methodology approved by the Enel Group. as compared to December 2019. The total energy recovery (increase in post-technical inspection billing and recovered energy from previous months) was 134 GWh per year. As a network operator, Codensa distributes power to both customers served by the Company as well as other marketers´ customers. This energy, plus the energy that is lost in the distribution system, makes up the energy demand of Codensa Network Operator (OR in Spanish acronym). At the end of 2020, the Codensa OR demand significantly affected by the global contingency arising from COVID-19, was 4.73% lower than in 2019 falling to 14,521 GWh- year and evidencing the effects of sustained contraction in commercial demand with many of its activities still constrained by the pandemic, including bars, restaurants, cinemas, gymnasiums, shopping malls, to mention only a few. The following graph shows the development of demand as a network operator over the past three years. The most important projects and activities focused on: Codensa Demand OR (Gwh Year) • Improving service quality. • Replacing, standardizing, and repowering high and medium voltage infrastructure (substations and lines). • Connecting mass customers, large customers, and self-generators. • Network remote control. • Connecting to the national transmission and network expansion system. • Extending installed capacity in Power Substations and medium voltage networks. 18,000 15,000 12,000 9,000 6,000 3,000 0 14,862 15,200 14,521 • Replacing technologically obsolete equipment. 2018 2019 2020 103 Annual Report Enel Américas 2020 The breakdown of the OR demand is shown in the following crucial in reducing the risk of contagion both for our graph. It shows that the customer market segment customers and our employees. marketed by Codensa fell by 3.32% while the segment of other marketers declined by 6.92%. In 2020, the lighting and street lighting modernization plan Demand breakdown OR (GWh-year) lights were installed, reaching a total of more than 153,000 continued with a project in Bogota. More than 9,000 LED 10,370 12,000 10,000 8,000 6,000 4,000 2,000 0 Codensa seller Other sellers LED lights installed in the city. Considering the current and future needs of our City- Region, the Company seeks to improve its electricity infrastructure in Bogota and Cundinamarca through the "Bogotá-Region 2030" project, constructing new 4,830 substations and their associated transmission lines, all strategically located in accordance with development plans, and as part of population, economic and industrial growth, and the massification of electricity mobility in the center of the country. In 2020, the Company inaugurated the Compartir (Soacha) Regarding the concept of distributed physical energy and Portugal (Engativá) substations and made progress (which includes energy passing through our network in the Terminal (Fontibón), San José (Los Mártires), Calle but directed to another area and network operator and Primera (Los Mártires), Barzalosa (Girardot) and Occidente additional power losses at the entrance into the system), (Funza) substations. there was a 3.3% decrease reaching 13,834GWh as compared to 14,307 GWh of the previous year. The Company continued to develop sustainable mobility, moving forward with the transfer of the energy distribution The Company continued to develop its infrastructure infrastructure along the route corresponding to the First by closing the 2020 financial year with the installation Bogotá Metro Line. of 92,256 meters, of which 89,747 have been installed in customers´ venues and 2,509 in distribution Codensa reiterates its commitment and willingness to transformers. This technology permitted to carry out continue contributing to the construction of a region-city activities such as remote monthly readings of nearly vision addressing the challenges and tasks imposed on us 61,701 customers and remote reconnections for 8,642 by the needs of the Department of Cundinamarca and the users. During the pandemic, this type of operation was city of Bogota in the short and medium term. 104104 134562Enel Américas´ BusinessesRisk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetrics2020 ManagementPeru Generation Distribution Transmission Chiclayo Trujillo Lima Cuzco Arequipa Peru Malacas Type: Net installed capacity: Moyopampa Type: Net installed capacity: Callahuanca Type: Net installed capacity: Huinco Type: Net installed capacity: Matucana Type: Net installed capacity: Huampani Type: Net installed capacity: Enel Distribución Perú Energy Sales: Customers: Power losses(1) : Santa Rosa Type: Net installed capacity: Ventanilla Type: Net installed capacity: Yanango Type: Net installed capacity: Chimay Type: Net installed capacity: Thermoelectric plant 336 MW Thermoelectric plant 69 MW Hydroelectric plant 84 MW Hydroelectric plant 276 MW Hydroelectric plant 133 MW Hydroelectric plant 31 MW 7,578 GWh 1.5 million 8.2% Thermoelectric plant 402 MW Thermoelectric plant 460 MW Hydroelectric plant 42 MW Hydroelectric plant 157 MW *Non-billable consumptions are not included in distribution business. (1) Energy Losses correspond to the total losses that include high, medium and low voltage as well as commercial losses and thefts. 105 Annual Report Enel Américas 2020PERU Generation Distribution 83.60% Enel Gx Perú 83.15% Enel Dx Perú 96.50% Enel Gx Piura Electricity Generation lower than expected prior to the pandemic, including the demand for December 2020 which was 0.3% lower than in December 2019. As a result, the 2020 annual demand Enel Américas S.A., through Enel Perú S.A.C. owns 83.60% experienced a 7% reduction from the 2019 annual demand. of Enel Generación Perú's shares and 96.50% of Enel Generación Piura’s, also through Enel Perú S.A.C., in which The situation in 2020 was challenging for companies in it owns 100% of its share capital. the sector, as their production and energy sales were significantly reduced. The Company´s total net installed capacity is 1,990 MW, (13.2% of the total capacity of the National Interconnected In addition to the Enel Group (through Enel Generación Electric System – hereinafter SEIN), of which 40% comes Perú S.A.A.), the main players in the electricity generation from hydraulic generation and 60% from thermal sector in Peru are Engie Energía Perú S.A., Kallpa generation, including the Yanango (42 MW) and Chimay Generación S.A., Electroperú S.A., and Fénix Power Perú S.A. (157 MW) plants which, from May 31, 2009 were divided to become part of Chinango S.A.C. Enel Perú S.A.C. This period has been an atypical year mainly because of Perú S.A.C. is a company incorporated in Peru, whose the global measures aimed at combating the COVID-19 corporate purpose is to invest in other companies, mainly pandemic. In Peru, a strict quarantine was initially imposed those engaged in the exploitation of natural resources and, causing the demand for electricity in the country to fall in particular, those related to the generation, production, by approximately 33%, during the first weeks. As diverse and sale of electricity; engineering for the construction sectors of the economy paralyzed by the quarantine were of power plants; supply, assembly and implementation of reactivated, the demand recovered. However, by the end of equipment, facilities and/or services for the production of the year it failed to reach the expected pre-pandemic levels; electrical energy. The company can also carry out any other energy demand in December 2020 was approximately 4% activity linked to the energy and water sector. 106106 134562Enel Américas´ BusinessesRisk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetrics2020 ManagementEnel Generación Perú S.A.A. Enel Generación Perú markets power and electricity in the Peruvian market, complying with all the specifications of the Technical Standard of Electrical Services Quality of which the most important is voltage levels, frequency, and unavailability of service time. The shareholding of Enel Generación Perú as of December 31, 2020 was as follows: 83.60% corresponds to Enel Perú S.A.C. (of which Enel Américas is the sole owner), Prima AFP S.A. holds a 5.98% stake and other shareholders have the remaining 10.42%. Location Lima, in the Rímac and Santa Eulalia river basins and the town of Junín. Installed capacity The Company has eight hydroelectric plants, six in Lima and two in Junín. The Huinco plant is located in the Santa Eulalia River basin with a 276 MW net generation capacity and the Matucana plant is located in the Rímac River Basin, with a 133 MW generating capacity. Most of the water from these rivers comes via tunnels and canals to the town of Barba Blanca, where the Callahuanca plant is located. Its generating capacity is 84 MW. Downstream one will find the Moyopampa plant with 69 MW, Huampaní with 31 MW and the HER (Hydro Energy Recovery) Huampaní with 0.7 MW. The total capacity of these six power plants is 593 MW. There are also 21 lakes whose water resource storage capacity is 282.35 hm3 which allows them to regulate the water flow to generate and supply the city of Lima. The Junín department has two hydroelectric plants: Yanango with 42 MW, which uses the waters of the Tarma River, and Chimay with 157 MW, which uses the waters of the Tulumayo River. Both total 199 MW of net capacity. These two power plants are part of the Chinango subsidiary. The Company also has three thermal power plants, with a combined 862 MW capacity. The first, Central Térmica Santa Rosa, located in the Cercado de Lima, consists of the UTI units with 102 MW and TG7 of 117 MW, the second, Central Térmica Santa Rosa 2, also located in the Cercado de Lima, consists of the TG8 unit of 183 MW. The third, Central Térmica Ventanilla, located in the Constitutional Province of Callao, has three generation units which make up the 460 MW combined cycle. This cycle was the first to be installed in the SEIN and currently corresponds to one of the six combined cycles of the Peruvian electrical system. The thermal power plants use natural gas from the Camisea deposits as main fuel and diesel oil as an alternative fuel. Total production of Enel Generación Peru reached 7,106 GWh in 2020, 6.3% less than the previous year. Energy sales totaled 9,642 GWh as of December 2020, a 8.5% decrease as compared to 2019. Enel Generación Piura S.A. Its main objective is to carry out activities typical of electricity generation and commercialization and participates in the natural gas business. The term is indefinite. The shareholding of Enel Generación Piura as of December 31, 2020 was as follows: 96.50% corresponding to Enel Perú S.A.C. (of which Enel Américas is the sole owner) and other shareholders with the remaining 3.50%. Location Talara Province, Piura department, northern Peru. Installed capacity The Company´s installed capacity is 336MW managed through three open-cycle thermoelectric generation plants. The first, Malacas, consists of a Siemens brand generation unit, SGT-800 model called "TG6" whose effective power is 50 MW. Malacas 2 consists of an ABB brand generation unit, called TGN-4 whose effective power is 105 MW. Finally, Malacas 3 consists of a Siemens-branded generation unit, called TG-5 which operates on open-cycle B5 diesel fuel under Cold Reserve condition, and has an 107 Annual Report Enel Américas 2020effective 181 MW power of the unit to operate in diesel mode. This unit also has a natural gas operation mode which has a 128 MW effective power. The capacity presented in the following table corresponds to the total effective capacity of Enel Generación Piura, at the end of December 2020: Production Units Plant Unit Manufacturer Declared fuel Malacas 1 TG-6 SIEMENS Malacas 2 TGN4 ABB Malacas 3 TG-5 RF SIEMENS Total Natural Gas Natural Gas Diesel B5 / Natural gas Net Installed capacity (MW) 50 105 181 336 The production and physical energy sales in Enel Generación Piura reached 616GWh in 2020, 6.3% less than in 2019. Activities and projects in hydroelectric plants Increase of the Callahuanca Hydroelectric Power Plant Capacity The plant, built in 1938, is located in the Province of Huarochirí and produces, on average, some 600 GWh of electricity per year, equivalent to the consumption of 450,000 households. In March 2020, it reached a monthly production record of 57,830 MWh. At the same time, an initial diagnosis of the operation status of the plant was carried out in each generating unit, to identify and work on improvement points. Thanks to all the efforts, the effective capacity of the plant in 2020 reached 83.5 MW, with an 83.3 MW increase as compared to the effective capacity in the previous year. This exceeded the effective capacity value declared to the Economic Operation Committee of the National Interconnected System (COES) since 2015. Automation and remote control of hydroelectric plants In line with the digitization strategy, the Company took on a challenge to automate our hydroelectric plants, whose average age is around 50 years. The evaluation of the economic, technical, and operational feasibility of this project has been carried out in recent years with the overall support of the Enel Group considering all the risks we face during the year, the benefits of availability and operational synergies. The automation and remote control project, whose investment totaled US$9.81 million, consists of four stages: (i) the construction and implementation of a new control center located in the Moyopampa Hydroelectric Plant, from which the operation of all our hydroelectric plants will be managed, (ii) the automation of four hydroelectric plants (Huinco, Matucana, Moyopampa and Huampaní); (iii) the connectivity of all our hydroelectric plants to the control center, and (iv) the change towards an automated environment. In January 2020, the automation of Unit 1 and 2 of the Huinco Hydroelectric Plant was completed and because of the health emergency, the project focused on completing the engineering and supply procurement for the Huampaní, Matucana and Huinco hydroelectric plants (Units 3 and 4). It is estimated that by 2021, the automation of the Huampaní and Matucana hydroelectric plants will be fully completed, and by 2022 the Moyopampa and Huinco (Units 3 and 4) plants will be finishes as well. Asbestos removal from Matucana and Moyopampa hydroelectric plants Together with the automation and remote-control project, equipment and structures in the hydroelectric plants were modernized and elements containing asbestos, a material that is considered highly hazardous to health, was removed. The benefit of this change was that the 108108 134562Enel Américas´ BusinessesRisk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetrics2020 ManagementCompany now has facilities free of this material which This project seeks to guarantee the operational continuity makes it easier to carry out maintenance work that does of the Huinco units, to achieve greater efficiency and not require special equipment. comply with new quality standards. The project’s estimated With an approximate investment of PEN730,000, the asbestos removal task was completed at the Matucana and Moyopampa hydroelectric plants. The work was carried out following the procedures and protocols established for this type of activity, thus registering zero accidents or setbacks. Stator rewind at the Matucana Hydroelectric Plant The areas of Operation and Maintenance, Procurement investment is PEN21.88 million. Activities and projects in thermoelectric plants Implementation of the first Energy Storage System (BESS) at the Ventanilla Thermal Power Plant The power plant began the construction of the battery storage system "Battery Energy Storage System" (BESS) and Safety and Health overcame the difficulties in time, in 2019 and the work was completed in 2020, becoming cost and personnel brought about by the COVID-19 health operational on September 25. The system allows to meet emergency managing to clear, transport and receive the primary frequency regulations (complementary service to Matucana Hydroelectric Power Plant stator without any keep the energy according to quality standards required accidents or contagion. The stator is the fixed part of a by the electrical system) and explore new technologies in generator that permits to transmit power. The Matucana the complementary services market. Thanks to this project Hydroelectric Plant stator change was proposed as it we became the first company to implement this type of came to its life cycle, as it had been operating for more state-of-the-art technological solution in the Peruvian than 44 years. Unit 1 of the Matucana Plant is expected Electrical System and also in Latin America. to be re-opened thanks to the stator change in the third quarter of 2021. The investment in this project is The system consists of eight Lithium-Ion battery banks, estimated at US$8.6 million. Replacement of 220 KV cables in the Huinco Hydroelectric Plant cavern In 2020, the Company continued to work on the specially designed to provide a total capacity of 14.6 MW, with an investment of approximately PEN29 million. This project is the Enel Group´s first of this kind in Latin America and is considered one of the most representative of the Enel Group on a global scale. During its implementation, all replacement of 220 KV cables in the Huinco Hydroelectric quality and safety standards were met following COVID-19 Power Plant cavern - an operation that began in 2019. prevention measures, reaching 88,000 man-hours worked These cables were used for 52 years continuously and without accidents and without contagion. with only about eight years of operational life left, the Company decided to replace them. With the arrival of the supplies for the Huinco Hydroelectric Plant units 2 and 3, the injection of energy from the largest plant in Major maintenance of the TG4 unit of the Ventanilla Thermal Power Plant With an investment of around PEN12 million, the TG4 unit our hydroelectric portfolio is guaranteed. The work on the of the Ventanilla Thermal Power Plant was maintained after project is difficult because the cables are old, it is also 125,000 hours of operation, the fifth major maintenance of necessary to remove some existing asbestos trays, the the Unit´s lifespan. The maintenance consisted of changing work is carried out in confined spaces and it is also crucial critical turbine parts, as well as inspecting burners and to avoid energy production loss during the process. The the electric generator. Thanks to this maintenance, which task is expected to be completed in 2022. lasted 28 continuous days with the participation of local 109 Annual Report Enel Américas 2020and foreign companies, the life of our generation unit was to-base generation, which represent one of the lowest extended by 25,000 hours and it improved the reliability of levels obtained by current technologies and is in line with the unit. Likewise, seeking time optimization, the internal Enel's global policy that promotes compliance with legal rehabilitation of the HRSG 12 boiler was carried out which standards, as well as the use of cutting-edge technologies consisted of changing internal parts exposed to high to exceed the levels required in different countries. water/steam temperatures. Thanks to the adjustments, we improved and optimized the plant´s water consumption, as Additionally, the project will also significantly reduce well as the reliability of our equipment. water consumption in power generation. Currently, the TG4 unit uses demineralized water to control emissions, The maintenance of the TG4 Unit began on January 15 a consumption that will be reduced to zero once the new and ended on February 13, 2020, concluding successfully combustor is installed. In addition, a fogging system will be and with zero accidents. The Enel Group´s local and global installed in the turbine air intake system to recover active areas participated in the project complying with safety power in the same unit. and quality standards, in accordance with the established work plan. Electric generator rotor rehabilitation of unit UTI06 of the Santa Rosa Thermal Power Plant With an approximate investment of PEN8 million, the rotor, In 2020, the Company began to build the new combustor at the General Electric facility, where all quality and biosecurity parameters were complied with. The project is part of the portfolio of high-impact short-term initiatives and will directly benefit the neighboring communities of a moving part of the electric generator of the UTI 06 unit Malacas and Talara. of the Santa Rosa Thermal Power Plant was rewound. In addition, all the components of the Unit UTI 06 generator The investment in the project reached PEN29 million and is and turbine were inspected and maintained. Thanks to the scheduled to be completed in early 2022. maintenance, which lasted 145 continuous days with the participation of local and foreign companies, the life cycle of the generator rotor was extended by 20 years, and we Land reserved for future projects Enel Américas has no land reserved for future projects in also improved the reliability of the unit. Peru. This maintenance was successfully completed, and the team that worked on the project complied with all quality Technological innovations and COVID-19 safety protocols with zero accidents and zero The following projects were implemented in 2020: contagion, in accordance with the established work plan. Implementation of the TGN04"EV Burner + Fogging system" project At the end of 2019, the Company began to change •Smart Glasses The use of Smart Glasses allows supervisors to work safely minimizing work risks and helping them to carry out their activities more accurately. This way supervisors the TG4 Unit combustion chamber which uses a water can share and receive documents, review plans in real injection system to reduce emission. It will be changed time and in high definition, as well as stay in touch with to Dry Low NOx (DLN) technology. This technology does experts and technicians around the world. This technology not use water and involves replacing the main burner helps to address certain complex issues, as well as audits, and its supplementary components. These changes will inspections, fault analysis, maintenance, and operations permit us to reach emission levels of NOx 15-25 in base- providing the necessary support. This led to an important 110110 134562Enel Américas´ BusinessesRisk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetrics2020 Managementreduction in travel costs, as well as increased productivity maintenance systems. The Operation and Maintenance by reducing production losses thanks to better quality team coded plant signals under the Hydro Data Model inspections and troubleshooting via remote support. corporate standard, a process that was supported by •Remote control of thermal power plants As part of the digitization and process optimization strategy, and together with global areas, the Company carried out feasibility studies of the remote-control project of thermal plant operators and virtual training by Enel Global Technical Support team. •PRESAGHO (Predictive maintenance) The PRESAGHO digital platform is a system that provides power plants, to permit operating the thermal units from predictive maintenance services to Enel hydroelectric one place, that is, the Ventanilla Thermal Power Plant. In power plants. The system monitors, manages, and analyzes 2020, the tender related to the project was awarded to facility data to predict plant behavior and anticipate critical Siemens, a company that will develop the project which issues or increase performance. The PRESAGHO project will conclude in 2021, with the remote control of all thermal began in January 2020 in the Callahuanca, Yanango and power plants. The estimated investment is PEN3 million. Chimay hydroelectric plants, and is expected to finish in •Drones to inspect the plants In 2020, the Company continued to implement drones for field recognition and inspection of equipment and structures of our plants, in order to optimize resources and guarantee the safety of our employees. The drones 2022 in the other units. At the Enel Group level, Peru is the first country in Latin America to be connected to this predictive software. •Power G Program In 2020, the Company implemented the Power G Award reduced diagnostic times and increased cost efficiency, program, the first to connect all areas involved with power obtaining relevant and timely information about generation. The purpose of this program is to reward contingencies. Currently, there are five drones in operation the Power Generation team because of its operational in the hydroelectric plants and two drones in the thermal excellence, best practices and innovative projects that power plants. This year, the drones helped to inspect the are carried out in our generation plants. The presented chimney of the TG8 unit of the Santa Rosa Thermal Power proposals attached great importance to issues related Plant, which presented faults in its structure permitting to to the environment, sustainability, safety, and health. The quickly identify the faults and to act in a timely manner. program managed to capture more than 200 innovative •PI System An infrastructure was used to connect different databases ideas from various departments, both from the business and support areas. These ideas competed with proposals from other countries. The relevance of this program lies in the to create knowledge and improve decision-making possibility of showing, at Latin American level, the potential processes with information that is automatically generated of the generation team, which is constantly challenged in in hydraulic power plants – a process that is commonly its search for new processes and new solutions. referred to as "data mining." This tool allows technical staff to analyze operational trends, which permit to implement preventive measures in a timely manner. In 2020, the system was reinforced against cyberattacks by improving •Implementation of virtual visits to our headquarters The use of GoPro cameras to make videos of our plants, physical and virtual infrastructure. Similarly, staff members in an easy way and at a low cost, was one of the most were trained in the correct use and development of projects carried out within the digital initiatives in 2020. technological skills in the PI System, PI Data Link and PI These cameras make it possible record high-resolution Vision tools. This improved operational efficiency and visits, to make virtual tours that allow staff members to reduced failures. •Hydro Data Model Thanks to this innovation project, signals on our servers were standardized to implement new analysis and predictive get to know our plants. They also provide assistance in technical or safety issues and, finally, train staff remotely, in order to prevent accidents and contagion that may occur in our facilities. 111 Annual Report Enel Américas 2020•Reports with Power BI As part of the "Data Driven" approach, the Power BI platform is used to model and analyze different data and provide interactive, easy-to-use visualizations. This tool has been used in Operations and Maintenance to analyze and monitor contract management, delegated purchases, and requirement plans, differentiating areas, plants, dates, managers, etc. thus allowing to make decision on in a timely manner. The HSEQ Power Generation sub- management department developed an analysis system of case information and actions to control the spread of COVID-19. The system permits to monitor statistics and reports by country for active, suspicious, and recovered cases, both of our own staff members and contractors of the Power Generation line. •Ingen The Ingen system, implemented in 2019 in all hydroelectric plants, collects information from different data sources for automatic processing. It is based on routines programmed to calculate production and efficiency indicators, whose aim is to issue status reports from hydroelectric plants, as well as send alarms in real time. This system receives information on planned unavailability, unplanned unavailability, events and accidents, water spills and production losses, hydrology information and energy measures. mentioned provinces and another five in a shared way with the distribution company of the southern area. In 2020, Enel managed to increase its concession area in Norte Chico by 52.12 km2, electrifying the Centro Poblado Caral which provided benefits to small farmers, agro-industrial and mining companies. Our own staff and contractors were deployed in an important effort to guarantee electrical service continuity for hospitals and care centers for COVID-19 patients all the time complying with the biosecurity protocols required to reduce exposure and contagion while carrying out their activities amid the pandemic. The new connections requested by these facilities were also prioritized and carried out as planned. In 2020, our customer base grew by 1.25% as compared to 2019. Distributed energy, including tolls for 2020 reached 7,578 GWh, –7.7% less than the previous year. In quality terms, during 2020 the SAIDI reached a value of 7.0 hours, while the SAIFI reached a value of 2.6 times. In monetary terms, sales reached PEN3.074 million, with a 2.3 % decrease as compared to the previous year. Distribution activities and projects Electricity Distribution In 2020, investments reached PEN395 million. The main investments were: Through Enel Perú S.A.C., Enel Américas S.A. owns 83.15% of Enel Distribución Perú's shares. Investments in electrical distribution Medium voltage and low voltage networks were extended, reinforced, and renovated as well as new street lighting Other distributors participating in the electrical system in systems implemented to meet the demand growth of Peru are: Luz del Sur, Electrosur, and Grupo Distriluz. our customers and to improve the safety of the electrical Enel Distribución Perú S.A.A. infrastructure, at the same time guaranteeing service quality. In 2020, 108 km of new medium voltage networks were installed through reinforcement projects and new Enel Distribución Perú is the concessionaire of the public feeders, an increase of approximately 2.2% compared to electricity service for the northern area of Metropolitan the existing 2019 network. Lima, the constitutional province of Callao and the provinces of Huaura, Huaral, Barranca and Oyón. Low voltage network reforms were also implemented The concession area covers about 1,602 km2 extending over networks, which equates to a 1.3% increase as compared the northern part of Metropolitan Lima, the Constitutional to the previous year. There was also a 13 MVA installed Province of Callao, and the provinces of Huaura, Huaral, capacity increase in distribution substations, 0.6% higher Barranca and Oyón, covering exclusively 52 districts of the than in 2019. through the installation of 177 km of private service 112112 134562Enel Américas´ BusinessesRisk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetrics2020 ManagementWork was carried out to electrify 69 human settlements, managing to electrify 10,504 lots, improving the life quality High voltage network operations simulator This project consisted of implementing a virtual reality of thousands of inhabitants. application to evaluate and train our operational staff members in high voltage network maneuvers in one of Regarding the public lighting service, expansions and our transmission substations. Virtual reality technology network improvements were carried out to extend the and artificial intelligence algorithms were used for coverage of this service for our customers. speech recognition to simulate real operations at high voltage facilities. Technical staff members performing 2,136 network reform projects were also implemented for the maneuvers were evaluated to find out how well they medium and low voltage customers. Customers who have knew the technical procedures, in the communication requested power increases exceeding 500 kW included protocol with the Control Center and compliance with Mall Plaza Inmobiliaria S.A., ESSALUD San Miguel, Inka the Operation Procedure called "Five Golden Rules". In Krops S.A., DAYR Inversiones Multiples S.A. and OSMED the first stage, technical operations for the procedures E.I.R.L., among others. of connecting/disconnecting maneuvers in 60kV high voltage cells were simulated. Technological innovation In 2020, the Company implemented virtual reality technology to train operators in high voltage network Virtual visits to substations The project was implemented in the Filadelfia High Voltage maneuvers in a transmission substation, promoting the 60/20/10kV substation. It consisted of digitizing the training of our operators' skills in controlled environments infrastructure and its components to permit staff members and avoiding potential risks in live electrical installations. The to move around the substation virtually and obtain real- Filadelfia transmission substation, located in the San Martín time technical information about the equipment. To obtain de Porres district, was also digitized using 360-degree the substation model, an information-taking path was photographs. This way, it is now possible to make virtual established and then scanned using a 360-degree internal tours accessing the information about the equipment in route, which was then linked to the technical information the aforementioned facilities, significantly improving the of the substation and equipment within the virtual model. efficiency of our operational processes. As a result of this project, it is now possible to optimize time and resources when collecting technical information, planning jobs remotely and training staff more securely. 113 Annual Report Enel Américas 2020 Enel X projects in Peru First Energy Storage System "Behind the Meter" in Latin America Enel X Peru will provide a 10-year peak shaving service to PAMOLSA, which consists of installing in its facilities smart batteries with 500 KW capacity in order to store energy during off-peak hours and use it at peak times. The artificial intelligence system predicts the periods of the highest network demand at peak times, to reduce the net power recorded during peak demand hours, thus leading to savings for the customer. The contract was signed in December 2020 and the service is expected to begin in August 2021. First Utility Bill Management (UBM) service in Peru In November, Enel X Peru signed UBM's first utility bill management contract with the EUROMOTORS PERU business group which started in December and will lasts for 36 months. It will be responsible for managing electricity and water utility bills on a virtual platform that centralizes the information permitting to manage expenses through KPIs. This service will manage invoices for 61 supplies from distributors such as Enel, Luz del Sur, Seal, Enosa, Hidrandina and Sedapal. Peru's first solar project Enel X Peru is increasing its commitment to sustainable construction. In October, the B2B team initiated the technical coordination to install its first solar project in the "Precursors 5" Building in San Miguel, which is being built by Bélgica Edificaciones construction company. This 3.35 kWp solar project will supply clean energy to the common areas of the building, providing benefits to the owners of the apartments. This project will help meet the Green Bond requirements of the building. Peru's first electric bus In 2019, the Global Sustainable Electricity Partnership (GSEP) and member companies, Enel X and Hydro- Québec, inaugurated the first electric bus in Lima with the collaboration of Protransporte and the Ministries of Energy and Mines, Transport and Communications, and 114114 the Environment. Transport electrification will play an important role in meeting Peru's commitment to reducing the country´s carbon footprint by 30% by 2030. The 80-passenger electric bus is being operated by Allin Group, one of Protransporte's local operators, on the Red Corridor line (main Lima avenues: Faucett-La Marina-Javier Prado), one of the busiest urban arteries. Over the next two years, the three partners are responsible for maintaining the cargo infrastructure that has been specifically designed and built for the operation of this vehicle, considering the country´s and the city´s requirements. Since its inception, and for a period of six months, the bus collected real-time information on factors such as speed, occupancy, battery behavior, environmental impact, comparisons with vehicles using diesel or gas, among others. This data allows to create the baselines and provide the knowledge required to adopt and implement a mass electric transport system in Peru. The electric bus stopped operating during the first quarantine period of 2020. After some months, it began operating again in August and to date, it has continued to circulate along the designated Red Corridor route. A thermal imaging camera is being installed at the entrance of the bus which will help to measure the temperature of passengers boarding the bus, as well as detect if they are wearing a face mask. First contract to improve street lighting with ornamental lights for the municipality of Lima The B2G (Business to Government) business line, supported by Enel X's global e-City line, signed an agreement with the Metropolitan Municipality of Lima in November to change conventional sodium steam lights to 630 ornamental LED lights, along the main streets of the Historic Center. This project is part of the recovery program of the Historic Center of Lima managed by the municipality. The project will last for 10 months as of November 2020. Agreement to change 38,600 lights in the Concession Area (North Chico) In December 2020, the B2G (Business to Government) line of business, supported by Enel X's global e-City line, managed the approval by ENEL X CEO Francesco Venturini to modernize 38,600 lights in Enel's public lighting 134562Enel Américas´ BusinessesRisk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetrics2020 ManagementDigital Credit It was a financing option for appliances that we developed to reach our customers. We provided 640 digital credits and closed the year with 80% face-to-face sales and 20% virtual sales. Mining operations pilot Enel X, together with the vehicle manufacturer BYD and Marcobre, a mining company, launched the first pilot of a 100% electric vehicle to be used in the Marcona, Ica mine. The installed loaders permitted to use the vehicle in the mine allowing to monitor its load flow and adding the information to the subsequent analysis. The vehicle traveled more than 700 kilometers in two months proving the feasibility of electric transport in mining operations. concession. The project will last from 2021 to 2022 and when it finishes our company will become the largest LED lighting operator in the country. Light Protection Assistance 360 As part of the e-Home global strategy, the Company set out to market our own assistance. To make this possible, we created a global tender to provide electrical emergency services assistance for homes. This is how we partner with the MOK group, a company with more than 25 years of experience managing mass services and reaching 450 homes. Opening digital channels The situation made us explore new sale methods to reach our customers. That is why in 2020 we: • Joined the Facebook social network, which allowed us to reach 100 thousand people. • Opened our E-commerce Enel X: https://www. enelxstore.com/pe/es, which led to 33 thousand sessions and also allowed us to make 50 sales. • Partnered with eight marketplace alliances, such as Línio and Lumingo, and we also made 480 sales. 115 Annual Report Enel Américas 20205 2020 Management 116116 117 Annual Report Enel Américas 2020Investments and Financial Activities Macro-context The global macroeconomic scenario in 2020 was marked by the effects of the COVID-19 pandemic, which caused a "severe collapse" with "an acute adverse effect on women, young people, informal workers and those working in contact-intensive sectors," the International Monetary Fund declared in January 2021 in its update to the Global Economic Outlook. In this context, the growth contraction in 2020 was estimated at 3.5%, a decrease that was reduced by 0.9% from the previous forecast (October) under "a stronger than expected boost in the second half of 2020." Similarly, the U.S. GDP decreased by 3.4% as compared to the previous year and became the worst drop since 1946. China, on the other hand, while it finished at positive levels, saw its economy grow by only 2.3%. The IMF's estimate for South America saw a 7.1% fall in GDP during the period. Meanwhile, the economies of the countries in which Enel Américas is present - Argentina, Brazil, Colombia, and Peru - had to deal with significant contraction: -10.4%, -4,05%, -6.8% and –11.1%,respectively, against the backdrop of severe job losses and low household incomes. Completed Financial Transactions Corporate financial transactions: The Extraordinary Shareholders' Meeting held on December 18, 2020 approved the Merger whose aim is to permit Enel Américas to control and consolidate ownership of the unconventional renewable energy generation business and assets that Enel Green Power SpA develops and owns in Central and South America (except Chile) through a merger by incorporation of Enel Green Power Américas into Enel 118118118 Américas. This merger will permit Enel Américas to access new growth opportunities. The Meeting also approved the amendment of the Company´s bylaws, in particular the limitations and restrictions established by the application of Title XII of Decree Law No3500, particularly regarding the limits imposed on shareholders to concentrate more than 65% of Enel Américas voting capital. The Investment and Financing Policy remains unchanged in Enel Américas´ corporate governance structure. In 2020, Enel Américas obtained short-term financing totaling US$300 million to meet its working capital requirements. Details of our operation in Brazil • Enel Brasil: in March 2020, it increased its capital by US$519 million from the US$3 billion capital increase that Enel Américas undertook in 2019. • Enel Distribución Ceará: obtained bank financing totaling BRL500 million (US$96 million). • Enel Distribución Goiás: obtained bank loans totaling BRL150 million (US$29 million). • Enel Distribución Rio: obtained intercompany financing totaling BRL750 million (US$144 million) and accessed bank financing of BRL350 million (US$67 million). • Enel Distribución São Paulo: obtained bank financing totaling BRL860 million (US$166 million) Colombia • Codensa: placed local bonds for COP500 billion (US$146 million) and obtained bank financing for COP612.238 million (US$178 million) Peru • Enel Distribución Perú: accessed bank financing totaling PEN310 million (US$86 million). • • Enel Piura obtained US$25 million in bank loans. Enel Perú obtained bank loans totaling PEN960 million (US$265 million). 134562Enel Américas´ BusinessesRisk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetrics2020 Management Summary of financial transactions completed Operations in Colombia Codensa : placed local bonds for COP500 billion (US$146 million) and obtained bank financing for COP612.238 million (US$178 million) Operations in Peru Enel Distribución Perú: accessed bank financing totaling PEN310 million (US$86 million). Enel Piura obtained US$25 million in bank loans. Enel Perú obtained bank loans of PEN960 million (US$265 million). Operations in Brazil Enel Brasil: in March 2020, it increased its capital by US$519 million from the US$3 billion capital increase that Enel Américas undertook in 2019. Enel Distribución Ceará: obtained bank financing of BRL500 million (US$96 million). Enel Distribución Goiás: obtained bank loans totaling BRL150 million (US$29 million). Enel Distribución Río: Obtained Intercompany financing of BRL750 million (US$144 million) and accessed bank financing of BRL350 million (US$67 million). Enel Distribución São Paulo: obtained bank financing for BRL860 million (US$166 million) Investment and Financing Policy for the 2020 financial year Investments Investment Area amount equivalent to 50% of the Total Equity of Enel Américas´ Consolidated Balance Sheet as of December 31, 2019. ii. Investments in other companies outside the electricity business, provided that at least 50.1% of Enel Américas´ total Consolidated Assets are in the electricity sector. Participation in the control of investment areas As authorized by its bylaws, Enel Américas can make investments in the following areas: To control investment areas and as established by Enel Américas´ corporate purpose, the Company will act, as far i. Contributions for investment or setting up subsidiaries as possible, in the following manner: or associated companies whose activity is related, associated, or linked to energy in any of its forms or of i. It will be suggested at shareholders' meetings of any nature or to the supply of public services or those publicly traded subsidiaries and associates that they whose main input is energy. should appoint directors who correspond to, at least, the participation of Enel Américas in said subsidiaries ii. Investments consisting of the acquisition, exploitation, or associates. Such persons should preferably be construction, leasing, administration, marketing, and chosen from among the directors or executives of both transfer of all kinds of real estate, either directly or the Company and its subsidiaries. through subsidiary companies. iii. Other investments in all kinds of financial assets, financing, and commercial policies, as well as the transferable and other securities. accounting systems and criteria to which they should ii. Subsidiaries will be offered to apply investment, Maximum investment limits adhere. iii. The management of subsidiaries and associated The maximum investment limits for each investment area companies shall be supervised. shall be as follows: iv. Permanent control of indebtedness level will be i. Investments in the subsidiaries of the electricity sector, carried out. those necessary for these subsidiaries to comply with their respective corporate purpose, with a maximum 119 Annual Report Enel Américas 2020 Financing Maximum indebtedness level Enel Américas ' debt ceiling will be established according to the Total Financial Debt ratio (measured as Other Current Financial Liabilities plus Other Non-current Financial Liabilities), less than or equal to 2.2 times Total Equity of Enel Américas´ Consolidated Balance as of December 31, 2019. Authority of management to enter into agreements with creditors regarding restrictions on dividend distribution Management can only enter into agreements with creditors regarding restrictions on the distribution of dividends, if previously such restrictions have been approved at shareholders´ meetings (ordinary or extraordinary). Authority of management to enter into agreements with creditors to grant guarantees It is the prerogative of the Extraordinary Shareholders´ Meeting to approve real or personal guarantees to underwrite obligations of third parties, regarding the essential assets indicated below. Essential assets permitting the Company to operate An essential asset that permits Enel Américas to operate, will be the direct or indirectly participation in the control of the majority of shares or maintaining agreements or covenants of shareholders of Enel Brasil and Emgesa. 120120120 Relevant Investments Associated with the Investment Plan The overall financing strategy of the Group's subsidiaries and intercompany credits is coordinated in such a way so as to optimize debt management in addition to the terms and conditions of the Company's financing. The Group's subsidiaries develop independent capital investment plans that are financed on the basis of internal funding or through direct financing. One of the aims is to focus on investments that will yield long-term benefits, such as projects that will reduce energy losses. Furthermore, by focusing on the while group, Enel Américas seeks to provide services to all its companies and the aim is to reduce investments at the level of individual subsidiaries, for elements such as procurement, telecommunications, and information systems. While the way to finance these investments as part of the Company's budget process has been studied, no specific financing structure has been committed and investments will depend on market conditions when cash flow is required. The investment plan is flexible enough to adapt to changing circumstances by assigning different priorities to each project according to profitability and strategic suitability. Investment priorities are currently focused on developing the work plan in Brazil, Colombia, and Argentina. In 2020, US$ 1,553 million were invested in Enel Américas´ businesses. Investments made in 2020 Generation Capital expenditures in generation totaled US$168 million in 2020, while in 2019 they reached US$250 million. Argentina Total investment reached US$44 million in 2020 (Central Dock Sud SA). The Company conducted an A inspection 134562Enel Américas´ BusinessesRisk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetrics2020 Management(boroscopy) of the combined cycle, gathering information TG6 Malacas, environmental projects to reduce harmful that established that damage was putting at risk the emissions in Malaca TG4 and maintenance activities in operational continuity of the unit, meaning that a thermal units. US$3 million were invested in the Ventanilla mandatory repair of the TG9 had to be carried out. Enel BESS and the REN project early spending. Generación Costanera SA carried out work on the Siemens Combined Cycle (LTE and Rotor Swap) along with tasks in the remaining facilities of the plant, including the Waste Distribution In 2020, Argentina invested US$1,255 million, mainly to Water Treatment System project and Demi Water Plant. meet consumption demand as a result of population growth and the increase in the number of new customers, Brazil Total investment reached US$14 million in 2020. Enel through investment not only in connections but also in capacity increases and reinforcing facilities in the Generación Fortaleza made investments totaling US$9.5 companies high, medium, and low voltage. The company million mainly on the continuous maintenance of the plant made investments worth of US$1,386 million in 2019. The and the purchase of materials and services for gas and main investments focused on expanding our distribution steam turbines. In the case of Volta Grande and Cachoeira service in response to the growing demand for energy, Dourada, investments totaled US$4.6 million, mainly on improving service quality, improving safety, and reducing the renovation of the generator and dam safety-related energy losses, especially in Brazil. projects Colombia Total investment reached US$62 million in 2020. Despite the contingency and restrictions related to the COVID-19 Argentina In 2020, Edesur in Argentina invested US$113 million to meet the demand growth and to improve service quality. health emergency, the required maintenance and • Complying with the goal of placing our customers at investments were implemented, proving our resilience and the center of our service, we made 1,304 low voltage commitment to the operation and maintenance of the connections and 42 medium voltage connections. plants, as well as to the implementation and compliance of efficient biosecurity protocols that guarantee energy • We completed the delivery and measurement of high production. At the same time, the engineering, testing, voltage – 132 kV post for Aysa – Bernal for 21 MW and manufacturing activities for the automation and power during the period. remote control of the Bogotá River Plants continued as planned. The Life Extension project and improvement in • The investments permitted us to complete the Glew environmental performance indicators continued and the substation expansion, where 80MVA of new high/ BESS (Energy Storage System) system was launched. The medium voltage transformation was incorporated and Company also joined the Carbon Bond market, ratifying its 11 new medium voltage outputs were added. strategic guidelines and support for global decarbonization; as part of our efforts to promote permanent innovation, • The Company completed the renovation of the Triple the Company continued to promote the application of high voltage 104 line linking the Reconquista and technological mega-tendencies in our businesses. Nuevo Puerto Substations. This work improved the Peru In 2020, the Company committed maintenance of the Greater Buenos Aires. operation of the system in the face of charge transfer requirements between the northern and southern area investments totaling US$ 48 million. The main projects included the automation and telecommunication of • We completed the installation of the third transformer the hydraulic power plants, G1 Matucana replacement in the Perito Moreno substation with a 150 MVA of core and coils, cable replacement in the Huinco cave, capacity. This transformer permits to standardize the maintenance activities and civil works in hydraulic units, affected customers within 24 hours, in the event of any purchase of contingency parts for thermal units, supply failure in one of the pre-existing transformers of the and assembly of the Ventanilla water treatment plant, the Perito Moreno substation. rehabilitation of the UTI6 generator, a type B overhaul of 121 Annual Report Enel Américas 2020• Focusing on improving our service quality, we continued to install 130 additional remote-control pieces of Peru Enel Distribución Perú invested US$110 million. The energy equipment, reaching a total of 1,715 at different points demand is associated with new customer requirements, a along the medium voltage network, involving greater situation that led to investments in distribution networks efficiency of the network. Brazil Total investment reached US$756 million in 2020. totaling US$67 million, of which US$39 million was used to expand and reinforce networks to meet the requirements of residential, commercial, and industrial customers, US$6 million was spent on the electrification of human settlements, US$9 million on the expansion of Enel Distribución Rio invested US$150 million. Of this the public lighting system and US$12 million was used amount, 30% was earmarked for new connections, 33% for to guarantee supply quality and safety. In terms of sub- energy loss reduction projects, improvements in the quality transmission, US$14 million was invested in capacity and of distribution networks with positive impact on services security of substations expansion and in transmission offered to customers and remote-control systems through lines. Additionally, US$10 million was allocated to loss the use of technology. The rest was invested in distribution control and US$18 million to information systems and networks maintenance activities. US$3 to infrastructure Enel Distribución Goiás made investments totaling US$237 million. Of this amount, 36% was earmarked for projects to reduce energy losses and to improve the quality of distribution networks. The Company invested 32% in new connections and 32% in the maintenance of distribution networks. Environmental Dimension Management Enel Distribución São Paulo invested US$186 million, of which 42.3% was used in network maintenance, 35.2% in quality projects and 22.5% in new connections. Enel Distribución Ceará invested US$175 million, where sustainability of environmental management. It is through 65.7% was earmarked for network increase with new this pillar that the Company manages its commitments to connections and support for the recent sustained growth the decarbonization process and to providing clean energy One of the pillars of the Company's Sustainability Plan is the in demand in the State of Ceará, 24.5% was invested in to our customers. distribution network maintenance projects and 9.7% in improving service quality and reducing losses. The management of this pillar involves preventing and Colombia Codensa´s investments in 2020 reached US$276 million, activities of the Company´s subsidiaries, the conservation of natural resources and the protection of flora and fauna. This mainly focused on improving the quality and efficiency of way we can contribute to the care for the local environment, our services (US$81 million) to keep the improvement of guaranteeing long-term projects and generating value in quality indicators; connections and street lighting (US$63 the countries in which we operate. mitigating the environmental impacts generated by the million) and capacity expansion to meet new demand (US$11 million); loss control (US$7 million) to decrease energy The management of environmental sustainability of losses, in addition to meeting the needs of reconnecting operational activities is based on Environmental Governance (US$28 million), standardization and modernization of policies and procedures. It is thanks to such measures that electrical infrastructure (US$18 million) and electrical bus Enel Américas can monitor compliance with voluntary charging infrastructure (US$37 million). regulations and commitments in this area and can manages environmental variables where their impact is the greatest: 122122122 134562Enel Américas´ BusinessesRisk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetrics2020 Managementwaste, biodiversity, emissions, and water. This management Although the use of water is relatively lower in energy also incorporates ethical and responsible decision-making distribution, measures have been implemented to to protect the environment and to minimize the risks of non- reduce consumption and to avoid pollution following the compliance with legislations or with our compliance program guidelines of the Integrated Management System and the and the Criminal Risk Prevention Model. Company's Policies. Integrated Management System Emission Management Emissions refer to the direct or indirect discharge of materials, substances, or forms of energy into the One of the strategic objectives taken on by Enel Américas continuous or discontinuous atmosphere, or any source in its Environmental Policy is to "implement internationally likely to produce air pollution. Current regulations require recognized Environmental Management Systems throughout to control and reduce the emissions released into the the Organization, based on the principle of continuous atmosphere, whether they are acoustic, electromagnetic, improvement and the adoption of environmental indices gas, particulate material or others. to measure the performance of the entire organization in this area". Based on this goal, Enel Américas designed an In the case of gases and, particularly, greenhouse gases Integrated Management System (GIS in Spanish acronym) that (GHG), Enel Américas´ commitment is to stop building permits to organize, document, and improve the Company's procedures, activities and operations in all its subsidiaries, as well as measure performance indicators not only in the environmental scope, but also in health, occupational safety and quality, which, in turn, is monitored and reported to the Board of Directors. Management of environmental variables Water resource management coal-fired thermoelectric plants, seeking to contribute to the reduction of CO2 emissions. Waste management Enel Américas´ Environmental Policy contains guidelines that drive the management of both hazardous and non- hazardous waste. It is the Company´s priority to reduce and reuse and promote the development of Circular Economy projects. In 2019, the Enel Group implemented Policy No. 473 Guide to Waste Management (hazardous and non- hazardous) based on the realities of all the countries in which the Company operates, including those that are part Water is a non-renewable and, at the same time, limited of Enel Américas. natural resource. It means that it must be used efficiently which makes demand satisfaction compatible with respect for the environment and other natural resources. Circular economy and life cycle analysis The availability of the water resources is crucial to the A fundamental procedure to manage environmental development of the hydraulic generation business and sustainability of operational activities is to identify poses a risk due to the variability of rainfall patterns and measure environmental impacts, generated at and changes in flow regimes, a situation that has been every stage of Enel Américas´ product and project aggravated by climate change. Therefore, it has been development process. important for Enel Américas to mitigate it through geographical diversity and the use of diverse technologies. The Life Cycle Analysis (ACV in Spanish acronym) is a tool that permits a joint and cross-cutting analysis, input and At the same time, thermal generation that provides output flows of materials and energy throughout the value flexibility to the energy matrix and allows to mitigate chain of a product or a service, identifying environmental water risks, requires water to cool boilers which, in impact sources. This information can be used as a basis turn, means that it is crucial to establish policies and to design correct environmental strategies, or to be controls in the Integrated Management Systems that not communicated to customers and other stakeholders, as a only optimize and reduce water consumption, but also further example of transparency. prevent eventual contamination. 123 Annual Report Enel Américas 2020Recently, the Enel Group was included as one of the 100 for the job they perform, as well as avoiding and controlling Global Partners of the Ellen MacArthur Foundation, a the occurrence of incidents and / or illnesses with cause or not-for-profit organization and a global benchmark occasion of work. for incorporating the principles of circularity into global economies. During this period, the Company faced new challenges as a result of the COVID-19 pandemic. The company This poses the challenge of continuing to maintain our implemented different measures to keep the health and leadership in sustainability issues, promoting circular safety of our employees an undeniable and absolute economies in the Company's and our customers' processes, priority. through the supply of increasingly clean energy. Management in the Social Dimension Employees Engaging our people At this moment of energy transition and the subsequent business transformation model, people in companies play a key role in addressing technological and innovation challenges. That is why training in new skills, overcoming barriers to a more inclusive company become the tools that permit companies to adapt to new roles in the energy market and lead to the creation of long-term value. Safety and labor health página 122 For Enel Américas SA, safeguarding the health and safety of its workers are fundamental elements that respond to the organization's concern for keeping people healthy and fit To mitigate the possibility of contagion in our operations, controls were installed to identify people who could enter our facilities with COVID-19-associated symptoms. The measures included, among others, high-flow biometric chambers to detect increased temperatures and facial recognition to expose the non-use of face masks, with more than one measuring point in each facility. The Company also implemented decontamination of footwear and hands at various points and assigned specific routes and transit areas accompanied by highly visible signs. To contain a possible outbreak on the premises, if entry controls were to be breached and if an employee or a contractor with symptoms were detected, the Company implemented self-diagnosis and isolation rooms to contain and evaluate any possible contagion with a medical team working 24/7. Efficient protocols and procedures seek to provide traceability of close contacts as soon as possible, which according to the diagnosis of our medical team may suggest a PCR test and even a referral to an Isolation Center as agreed with the Company to protect the employee´s or contractor´s family. We also implemented segregation and decontamination of the areas and spaces where the infected people were moving when they were detected. TOTAL ACCIDENTS 122 ACCIDENTS FREQUENCY 0.99 89 0.50 2018 2019 2020 2018 2019 2020 124124124 1150.69134562Enel Américas´ BusinessesRisk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetrics2020 ManagementThe aim of the new work system was to expose as few contagion diseases, such as the influenza. The Company people as possible to the virus. Despite the strict measures also keeps active all year round the Traveler's Medicine that are still maintained, the working groups that are Program. The program, consisting of immunizing essential to the operation of the Company were separated employees who, for work reasons, must travel to other into teams, working separately and under strict prevention countries, provides immunizations against the most measures on the premises, making it nearly impossible for common diseases prevalent in the country the employees a team to infect others. must visit, and which might pose a threat and / or a risk of contagion to such employees. In view of the above, the following initiatives in Preventive and Informative Health issues were implemented: Dissemination and healthcare promotion Health prevention is important for everyone´s well-being. Preventive screening Its aim of this program is to carry out periodic medical evaluations of employees to detect early alterations or pathologies which potentially might be harmful to their Therefore, every year, the Company promotes different health. The preventive control also includes the respective topics that seek to propagate and endorse healthy habits medical control to guide or explain procedures according through postcards, posters, mailshots, graphs, contests, to the results. talks, among others, and whose aim is to train, educate and promote our employees´ quality of life and health habits. Cardiovascular risk program A preventive program that seeks to create behavior and March: Anti-Stress campaign: practical recommendations habit changes through nutritional assessments and to deal with stressful situations in the work environment. directed fitness exercises, improving altered medical April: Immunization Campaign: Mass invitation to get an parameters. It is intended for all employees who, according anti-influenza vaccine to preventive examinations, suffer from two or more May: Anti-Smoking campaign: tips to prevent and avoid cardiovascular risk factors. tobacco consumption. June: Colon and Gastric Cancer campaign: timely detection Labor relations and prevention through preventive health screening. July: Viral and Respiratory Disease Prevention campaign: In 2020, and as always, the program of regular meetings practical recommendations to prevent contagion. with the Company´s unions continued, allowing to make August: Heart Care campaign: set of recommendations some progress in the consolidation of open dialogue with associated with preventing cardiovascular risk factors. the employees' representatives and leading to a positive September: Prostate and Cervical Cancer campaign: working climate. preventive health screening. October: Breast Cancer Prevention campaign: early detection/self-examination. Additionally, World Stroke Day Work environment The work environment is one of the Company´s priorities (ACV in Spanish acronym) was celebrated to raise awareness which is why the Company continued to work on several for a quick and timely consultation with specialists. initiatives that seek to keep up employee motivation, November Healthy Eating campaign: tips for better eating satisfaction, and commitment in the areas of leadership, habits and lifestyle. communication, meritocracy, development, conciliation December: Skin Cancer campaign: tips for skin care, measures and good work practices. ultraviolet radiation, and other agents. Finally, given the health contingency, lectures related the emerging needs of our employees. to the prevention of musculoskeletal disorders and workshops related to Mental Health were also offered to • A survey "Wellness and Working for Enel" was In the 2020 context, actions were adapted to respond to our employees. Immunization program The immunization program of Enel Américas´ employees developed, which offered a listening space for situations experienced during the period. Subsequently, a focus group was set up to analyze the results in each of the consulted dimensions, to develop an early diagnosis is a measure aiming to prevent the onset of recurrent and to propose an action plan. 125 Annual Report Enel Américas 2020 • Enel Américas values meritocracy as a way of At the same time, the Company seeks equity and equal promoting careers. The Company constantly seeks opportunities by providing the necessary support to to highlight the contributions and efforts of its achieve an adequate and successful work experience. employees, either individual or collective, through This is part of Enel Américas´ Policy No. 89 on diversity programs that recognize best practices. In 2020, and inclusion and procedures based on Law No. 20.422, the Protagonists Program was launched where the which lays down the rules on equal opportunities and social employees themselves highlighted and promoted the inclusion of persons with disabilities. The Company has best practices, initiatives and / or projects that created also added Law No. 21.015 that encourages the inclusion of value for the Company. persons with disabilities and, finally, Law No. 20.609 which • The Team Work program recognizes teams that excel in the implementation of a project or an initiative, The Company has put in place a procedure to detect and considering elements such as the participation of prevent various organizational, social, and cultural barriers different areas, outstanding results, collaboration mainly in the recruitment and selection process. establishes anti-discrimination rules. and innovation. • Open Feedback encourages the continuous feedback PSI evaluations according to the type of disability and culture throughout the work network and throughout according to the candidate's support requirements. The the year, directing the development of employees, as Company also implemented follow-up processes for our well as the formation of high-performance teams. disabled employees to make sure we provide relevant At the same time, the Company adapted collaborative Succession Plan and Transfer of Functions Each year, the Company identifies and /or reviews support and detect or make reasonable adjustments to guarantee a level playing field. successors for Managerial positions (Management). This The Company offers training related to diversity and process detects successors who can occupy a position disability as part of the recruitment process and whose immediately (Ready) or those who still need to develop some aim is to remove barriers, mainly beliefs, prejudices, and skills (Pipeline) with a view to achieving the performance stereotypes, which lead to attitudes and behaviors that required to correctly take up certain positions. This process don’t permit to empathize and awaken fundamental social guarantees the appropriateness of each successor, as well inclusion values such as: respect for diversity, solidarity, as the compliance with the Company´s non-discrimination equity, and the promotion of autonomy. and diversity policies, while guaranteeing the availability of replacements in the absence of some of the main executives. In line with the Diversity and Inclusion Policy, the Company Regarding the transfer of functions, relevant information or developed, as part of its strategy, a series of practices other elements required to correctly exercise a role, there related to the gender, age, nationality, disability, and well- are protocols in place to transfer sensitive information, as being pillars. The general principles of the policy are: well as handing over authority and/or formal representation powers as established by the Company´s internal policies • Reject any form of arbitrary discrimination and and legal regulations in force. guarantee and promote diversity, inclusion, and Diversity and inclusion For Enel Américas, diverse work teams and an inclusive • Promote and maintain a climate of respect for the dignity of the person, his or her honor and identity. work environment are essential elements that permit to • Guarantee the highest confidentiality standards create a culture of innovation, a better work environment regarding any available information related to and lead to higher productivity which, in turn, provides us employees´ private lives. equal opportunities. with the opportunity to open up to different points of view that enrich the work environment and always add value. 126126126 134562Enel Américas´ BusinessesRisk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetrics2020 ManagementIn the gender dimension, the Company seeks a gender As part of the programs developed in previous years and balance of the candidates evaluated during the initial considering the emergency angle of the pandemic, the recruitment stage and during the selection processes. Company extended its Smart Working program in 2020, We also implement initiatives that include the gender either in full or under a mixed mode, which meant that perspective in the Company, as well as the knowledge of 100% of our employees worked remotely or under the basic concepts on equity and equality, so that a cultural mixed methods. change can be established making all the people working in Enel Américas feel that they have the same opportunities At a global level, and to address the particularity of the time and that they are on equal footing that will permit them to associated with the pandemic, the Enel Group developed develop professionally. We also implemented the Parental the “#IWorkAtHome” Program, an initiative created to Program that permits employees to balance parenting needs provide tools, activities, training courses, etc. for people under the new work methods. who work remotely. This program is based on three pillars: In the age dimension, the transfer of knowledge from young • Work Together. people to senior employees and vice versa. To enhance • Keep Informed. Enel Américas´ value proposition towards new generations, • Regenerate. a survey was applied to our young professionals to learn more about their needs and requirements. We also organized talks or webinars on mental health issues as well as lectures offered by professionals on postural In the nationality dimension, expatriate employees are advice during working hours. Finally, and maintaining the assigned a guide who assists and supports them for the Company´s tradition, we organized various corporate duration of their expatriation to recognize, respect, manage events such as Academic Excellence, Celebrations of the differences between people of different nationalities and National Day, Labor Trajectory, Christmas celebrations, also to promote their integration. among others, all in a virtual format. In the disability pillar, Enel Américas addresses the issues related to the needs of employees with disabilities to recognize, respect and manage the different skills of people who work for the Company. Attracting talent Recruitment and selection For Enel Américas, the main objective is to incorporate the best professionals with the skills related to the cultural At the Group level, working partnerships were set up change that we are living under the Company´s digital together with Fundación Ronda and REDMAD. The transformation and the Open Power competencies process. Company also adheres to The Valuable 500 initiative, which has permitted us to launch a project that has raised different lines of action as the basis for cultural change through different initiatives. Internship program and attracting young talent The internship program is a remarkable project in terms of generating new recruitment sources as it incorporated Finally, based on the cross-cutting dimension, the interns and undergraduate students who will become Company´s management promotes courses related to future professionals and who today study in the best diversity and awareness workshops on values related to universities in the country. They are given the opportunity diversity and inclusion. Conciliation measures and work flexibility Enel Américas seeks to maintain a balance in the different to consolidate theoretical learning, in the context of the Enel Américas business, thus getting the training offered by professionals with the necessary knowledge about the Group´s reality and real work challenges. The program that life dimensions to improve the well-being, health, and has become a significant source of new recruitment for the work capacity of every employee, understanding that each Company is carried out on a permanent basis throughout employee can satisfactorily attend his or her professional the year and last year was organized under a remote activity, while at the same time he or she can enjoy his or modality and as a result of the health emergency context her private life. from March onwards. 127 Annual Report Enel Américas 2020Employee development Training In 2020, we focused on accompanying leaders and employees in the challenges they had to face because of remote working. Thinking of new leadership skills A total of 1,182 hours of training were offered to our leaders. The aim of the "Leader to Coach" program was to enhance the exercise of leadership and the role of managers in the "Open Power" culture, from an active and strategic role, centering on motivating of teams and the ability to create learning opportunities. This comprehensive training, preparation, and accompaniment program contemplates the construction of an individual itinerary for each manager through different activities such as workshops, webinars and courses according to the Enel Leadership Model and change management. During this period, the Company completed the Leadership in data driven Transformation program for its managers with all managers taking part. We also offered our managers a cycle of talks as part of the “#IWorkAtHome” Program, a global initiative that seeks to provide tools, activities and training for people who currently work remotely. A 100% online training program was developed through internal learning platforms permitting managers to continue training and development. This year´s highlights were the following ones: • Language program • Compliance Program • Electric Market Diploma Evaluation Enel Américas has implemented the Open Feedback program, which seeks to incentivize continuous feedback among the entire work network and throughout the year, directing the development of employees , as well as the formation of high-performance teams. This program is based on the Open Power philosophy and is offered via an online platform on which all employees can provide feedback to their peers, teams, and managers, highlighting the positive aspects of their performance and stressing the identified improvement opportunities. In the feedback instances given by managers to employees there lie opportunities to create a greater closeness, transparency, expectations and support for our employees´ professional development. Using the same basic model with the four corporate values, we implemented the annual evaluative process in which all staff members who meet the eligibility requirements can get involved. This process, in which each manager evaluates his employees, provides information on the development and/or training opportunities, as well as the strengths and potential of each staff member in his or her specific work context. This way the information available on the platform can be used to program development plans, training programs, as well as other internal people management sub-processes. We also conducted an objective assessment in 2020 based on the Company's goal matrix. The evaluation measured each person's contribution to meeting the Enel Group's overall targets. The value of objective management, in terms of each person's understanding of their contribution and the impact on motivation for day-to-day work, leads to a smooth communication between the manager and his or her team. This year, because of the pandemic, the evaluation processes focused on three key pillars: Communication: developing and implementing dissemination campaigns at different levels (mass, by teams, aimed at line managers and/or individuals) and through different channels (Email, Intranet, Whatsapp, Teams) aimed at reinforcing the critical elements of each evaluation process (process stages, platform usage manuals, practical material to implement the different phases, reminders, etc.) Platforms: evaluation platforms, platforms for feedback processes were reinforced (mainly Teams) and monitoring and support mechanisms were created to guarantee the flexibility and quality of the process. Continuous Improvement and Integration: this year's particular situation made it possible for our tools and 128128128 134562Enel Américas´ BusinessesRisk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetrics2020 Managementmodels to be tested in the context of teleworking, promoting the integration of information with the different human management subsystems, while an information survey was carried out to continuously improve our processes and platforms. Relevant Suppliers, Customers, and Competitors Work flexibility and teleworking Suppliers Under the new remote working modality because of the Following the Enel Group´s guidelines, the Company health contingency, Enel Américas´ employees carried out implements a strategy fostering a sustainable supply chain. their functions remotely or under a mixed work system. We That is why we share a common purpose with suppliers also launched a new initiative in the context of the pandemic and contractors to create value under the same long-term known as the "#IWorkAtHome" Global Program. perspective. The initiative is based on three fundamental pillars: inclusion of sustainability criteria in the supplier In 2020, several actions were carried out, both recreational selection process (environment, health and safety, human and educational dedicated to our employees´ children rights, among other aspects), promotion of circular including the summer camp consisting of recreational economies and development of suppliers´ skills. days for employees´ children aged between 4 and 15 years which are held during the first month of the year. In winter, In 2020, the Company continued to implement the "Circular we offered various workshops and extra programmatic Procurement Strategy", which incorporates sustainability and cultural activities. Amongst other measures, in the and circular economy as drivers of valuation and selection context of the pandemic, the Company extended the use of offerors to be awarded in tenders whose value is higher of the creche voucher and transferred its availability to than €200,000 (Consultancies and Direct Awards are home care. excluded). During the supplier selection stage, we will consider the commitment to measure and communication Finally, the Company organized diverse talks and of environmental impacts of operations, the implementation activities, all of them online, centered on the pillars of circularity measures in the production chain and / or of diversity and inclusion, self-care, health, learning, suppliers´ participation in Circular Economy projects - all innovation and information for employees and their of the above will be considered differentiating elements immediate family environment. during the evaluation process, giving such suppliers a competitive advantage. Post-Employment Benefit to workers Through the Supplier Performance Management tool, the Company carries out real-time monitoring of supplier As indicated in notes 3m.1 and 26 to the consolidated performance by measuring and observing certain criteria, financial statements of Enel Américas S.A. and Subsidiaries, including product or service quality, punctuality, safety, the Company grants a series of post-employment benefits environment, human rights, innovation, and collaboration. to its workers, which depending on the way in which they The outcome of these assessments is used to act regarding are agreed, may or may not generate the constitution of a suppliers, either in terms of recognizing well-performing long-term fund (plan assets) for the benefit of the workers. suppliers or requesting mitigation plans from those whose performance in not up to standard. When applicable, post-employment obligations for defined benefits are presented in the statement of financial In line with the sustainable supply chain pillar, we verify, position, net of the assets of the corresponding plan assets. during the supplier qualification stage (assessing whether Outsourced workers suppliers can qualify and become part of the Enel Américas supply chain) compliance with human rights and ethics requirements, health and safety requirements, In 2020 and 2019, apart from our employees, we continued environmental requirements and integrity requirements developing our businesses with outsourced workers. and we also evaluate if suppliers meet the standards We employed more than 70 thousand people in all the required by Enel Américas. countries where we are present. 129 Annual Report Enel Américas 2020 This part of the process essentially verifies that the For Enel Américas, a sustainable value chain is a supplier has implemented a management system that fundamental requirement. That is why the Company will guarantee compliance with the aforementioned promotes a culture focused on environmental, social, and standards. At this stage we request that suppliers provide economic sustainability, with values based on innovation, verifiable documentation. ethics, transparency, health, safety, anti-corruption, and The requirements vary depending on the type of company human rights. and the level of risk involved in the service to be hired in Sustainable business is an essential requirement to each line of business. Risks can be technical, environmental, meet the challenges of the future and this vision leads social, reputational, or related to safety. For example, to a sustainable supply chain, circular economy, digital environmental service providers are required to get their innovation, and shared value creation, with work that is management system certified under ISO 14001. As a result compatible with out Sustainable Development Goals. of this stage, the Company complies a list of suppliers qualified by Enel Américas. This list is constantly monitored. In 2020, 100% of the new suppliers qualified in the Relevant suppliers, customers, and competitors process were evaluated in health and safety, environment, The Company carries out its business in the field of and human rights. electricity generation and distribution, in this context, its client portfolio is sufficiently atomized so that none of them Once the minimum technical threshold defined for exceed 10% of the Company's consolidated sales. tendering processes has been met, the supplier selection process considers a weighted mix of economic supply and At the supplier level, our main suppliers correspond to "Sustainability K-factor". Using these factors, Procurement the purchases of electrical energy, its transportation encourages the application of sustainability and circular costs and suppliers of fixed assets. Among them, our economies in suppliers´ and contractors´ services. main suppliers correspond to electricity generating We identified five categories of interest to cover these Américas has throughout South America, none of these differentiating elements: social, environmental, health and suppliers exceeds 10% of the total number of suppliers safety, circular economy, and certifications. used in the course of its operation. companies. Given the wide distribution areas that Enel Incorporating these K-factors into the tender process Enel Américas S.A. is a holding that operates mainly in can improve the supplier's final position in the selection power generation and distribution in South America. ranking of the most advantageous weighted offers. It considers the relevant suppliers, customers, and Examples include calculating the carbon footprint and competitors those with whom we operate in each the corresponding mitigation actions, using low-emission geographic area, and on the look of their impacts on the vehicles, a commitment to developing social utility Company in a way consolidated. projects and encouraging the recruitment of local labor, a commitment to obtaining certain certifications, among The relevant suppliers, customers and competitors are as other aspects. follows: 130130130 134562Enel Américas´ BusinessesRisk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetrics2020 Management Argentina Chile Main suppliers Main customers of the generation and distribution Compañía de Leasing Tattersall S.A, Travel Security S.A., segment Imak S.A. Grafton Support Services S.A., Team Work Frigorífico El Bierzo S.A., Graneros y Elev. Arg. De Colon, Recursos Humanos Limitada, DCV Registros S.A. New American Oil, GCBA, Municipalidad de Quilmes. Community Main competitors Pampa Energía, SADESA, AES Argentina, Generación Enel Américas operates in four different countries and it Mediterránea, YPF. Main suppliers is crucial for us to get to know the local circumstances and listen to the needs of local stakeholders, so that these become essential elements helping us to identify Argencobra S.A., Rowing S.A., Prysmian Energía Cables y specific solutions. Sistem, Sistem Melesur Energía Arg. S.A., Kioshi S.A. Brazil In each of the countries in which the Company operates, with a multiplicity of economic, social, and cultural realities, Enel Américas takes into consideration variables such as Main customers of the generation and distribution energy poverty, multidimensional poverty, climate crisis segment: Petrobras, Braskem S.A, Telefônica/Vivo, impact, government lines of work, among others, all related Volkswagen, Ferbasa. to the United Nations (UN) SDGs. Main competitors: Energisa, Cemig, Neoenergía, CPFL To learn more about the specific needs and priorities Energía, Equatorial Energía. of each territory, Enel Américas implemented the Shared Value Creation (CSV in Spanish acronym) model Main suppliers: Itaipu,, Norte Energía S/A, Centrais Eléctrica throughout the asset value chain and lifecycle. This model de Sergipe S/A, Santo Antonio Energía S.A., Camara de permits to apply socio-economic-environmental study Comercializacao de Energía Elétrica-CCEE. tools established by stakeholders and, finally, to implement Colombia Main customers: Grupo Éxito, Casaluker, Molienda de la sabana SAS. a sustainability plan agreed with said stakeholders focused on creating shared value: initiatives that benefit the community as well as the companies. Focusing on local development, the Company Main competitors: Empresas Públicas de Medellín, Isagen, implements inclusive and participatory projects that seek Celsia, Gases de Occidente, Efigas. to narrow the gap in multidimensional poverty with its investment in facilitating access to clean and affordable Main suppliers: Grupo Éxito, Ecopetrol S.A., Petroles del energy, economic development, and access to quality milenio- Petromil. Peru Main customers: Hipermercados Tottus S.A., GYM Ferrovias S.A., Pesquera Diamante S.A., Minera Las Bambas, Minera Chincalco Perú S.A. education. This way, synergies between social progress and corporate performance can be created at the same time permitting to incorporate local communities in the journey of energy transition. 131 Annual Report Enel Américas 2020Indicators that measure initiatives focused on local development: SDG 8 7 4 Indicator Economic development and decent work (thousands of beneficiaries since 2015) Access to clean and affordable energy (thousands of beneficiaries since 2015) Inclusive, equitable and quality education (thousands of beneficiaries accumulated since 2015) 2020 978 4,933 644 6,555 2019 383 4,042 522 4,947 2018 354 2,995 345 3,694 Initiatives in the COVID-19 context Argentina Increased capacity From the beginning and during the quarantine, our Brazil To address and minimize the damage caused by the pandemic in Brazil, we launched the #JuntosNaMesmaEnergia program, a set of initiatives that allocated BRL 23.4 million to actions on several fronts around the country. As part of the program, we distributed 9,500 food baskets; personal technical teams have delivered additional electricity hygiene items to communities in the areas of the Company´s generation equipment to health centers located in the operation such as 25 thousand soaps from our alliance concession area. Equipment with a total capacity of 2,389 with Natura; 11 tons of vegetables and 700 kits with organic kVA has been installed in such facilities which operate as foods from the Huertas en Red project; plus 26,000 surgical support systems for local health services. masks for hospitals, among others. We installed two pieces of equipment in the Almirante Through the Enel Share Entrepreneurship project, we Brown Municipality, one in a field hospital located in the supported small productive groups in manufacturing and Municipal Sports Center (250 beds) and the other in the donating 25,800 face masks and protection blankets for Professional Training Institute (63 beds). The first generator the local population. The facemasks, made of tricholine, can has 100 kVA and the second 388 kVA. reduce the spread of the new coronavirus of asymptomatic or pre-symptomatic people. The donation was accompanied Two other field hospitals in the Municipality of San Vicente by a tutorial on the correct use of the face masks, with received our support equipment. One in the San Vicente hygiene and prevention advice recommended by the World Sports Club, with 100 kVA capacity and the other in the Health Organization. Municipal Hospital Dr. Ramón Carrillo, with 463 kVA. Dr. Cecilia Grierson Hospital, in Guernica, Municipality of Perón, also received an additional generator, with 650 kVA, Voluntary employee participation, our Red de Bien network In addition to the above initiatives, through our volunteer which can be used in emergencies. portal "Red de Bien", we carried out internal campaigns to We also increased the power of six health centers in the as donations for the production of Fiocruz rapid tests; Buenos Aires urban area and the Federal Capital. The new donations to social institutions in five Brazilian states on the capacity totals 1,157 kW and is distributed as requested by virtual crowdfunding platforms; disseminating actions of the municipalities and managed through their health areas. local entrepreneurs, among others. The initiatives benefited encourage employee participation in various actions, such some 11,512 people, involved more than 1,000 volunteers, Ezeiza Field Hospital Assembled by the Municipality and Edesur, the hospital and raised BRL109 thousand. was installed to assist low-complexity patients affected by the COVID-19 pandemic. Edesur also donated more than Energy efficiency in hospitals Through our Energy Efficiency Program, we worked in 14 1,200 units of sheets, towels and blankets to use on the hospitals and health units treating coronavirus-infected installed beds. patients in the states of Rio de Janeiro, São Paulo, Goiás 132132132 134562Enel Américas´ BusinessesRisk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetrics2020 Management and Ceará. The works included renovating the lighting and Hobo, Thessaly, Altamira, Paicol, Gigante, Garzón and El air conditioning systems of the units, thus contributing to Agrado, belonging to the area of influence of the Betania and a greater comfort of professionals and patients and led to Quimbo hydroelectric plants benefited from the donation savings of the institutions´ energy costs. This is one of the as well as local stores, as we acquire 90% of the food and ways we can stay connected to the society right now and other products from those shops. donating our energy for the greater good. Online courses for communities Using the Enel Shares platform, we adapted some of our Arroz Barato, Policarpa, Albornoz and Puerta de Hierro in the El Mamonal de Cartagena area also received our help as projects so that the communities served by our initiatives we delivered 1,040 food baskets and other products. The Caribbean Coast, more specifically the neighborhoods were not left out during the period of social isolation. Educational conferences and workshops were turned This collaboration was made possible thanks to the Traso into online video classes with guidelines on conscious Collective with its #EntreTodosNosProtegemos Campaign, energy consumption, safety tips related to the power grid the JuanFe Foundation, and the Bolivar Sectional Foundation during isolation, instructions on entrepreneurship and (ANDI). Among the beneficiaries of this humanitarian aid recommendations on COVID-19 prevention. Community there were some 70 fishermen living and working in the leaders who are part of our Leadership Network, promoted area, older adults, people with disabilities, informal street the videos and newsletters with health-oriented initiatives vendors, and children. Our Company´s staff members and disease prevention in the communities around our visited the selected areas to provide this humanitarian concession area. Colombia aid through food baskets and other products to families in need. Some 14,240 families received food supplies for a month. Enel's work in Colombia addressing the COVID-19 crisis This contribution is additional to the nearly COP1.9 billion and seeking to mitigate the impact of the pandemic in aid that the companies and employees of Enel in Colombia the communities where it operates had 65,667 project offered allowing to expand Intensive Care Units (ICU) of beneficiaries. the Children's Cardio Foundation, as well as those of the Hospital Universitario la Samaritana, Méderi and the Shaio Codensa launched a virtual branch that permits to receive Clinic, thanks to our alliance with ProBogotá. Similarly, notifications about energy services among other services. we installed backup equipment for the operation of With nearly 1,400 direct employees working from home, the temporary Corferias hospital and we provided the some 470 employees doing so from the branches or necessary funding for Hamilton, a high-tech robot that in the street and around 500 employees in partial work allowed the Universidad del Rosario to increase the number from home, Enel's companies in Colombia made sure that of diagnostic COVID-19 tests. all the necessary processes to continue supplying this essential public service were met. Face-to-face customer In La Guajira, Enel in Colombia joined the campaign service wasmoved to virtual channels, with nearly 3 million launched by the ANDI permitting to equip the San José transactions on average each month completed through de Maicao Hospital with four new ICU units and rapid Codensa's digital channels. Supporting communities diagnostic tests that benefited 500,000 people. Through the Saldarriaga Concha Foundation, 515 protective kits, with more than 10,700 elements, were donated to the medical staff of 12 Huila health centers. Proving a COP 1.7 billion financial support, the Company launched initiatives to safeguard the health and food supply food to people in need. Peru “Let´s not permit our energy ever to stop” Other actions included: Increased power supply capacity In response to the health emergency, Enel Perú not only Delivering more than 10,600 products in the municipalities of promised that the flow of energy to households and key Cundinamarca, and Huila together with the Fundacoofisam industries would never stop, but we also provided constant Foundation and its "uni2" program we provided 2,600 food support to the most vulnerable people at a national baskets. Vulnerable families from Campoalegre, Yaguará, level. The Company developed a strategy aligned with 133 Annual Report Enel Américas 2020 the relevant SDG, the results of which continue to reach delivery of donations and other necessary activities during families, communities, and hospitals. the health emergency. Enel Perú carried out works aimed at supplying increased electrical power, in some cases doubling the electrical capacity, to the hospitals of the National Police of Peru, Augusto B. Leguía, in the Rimac, Sergio Bernales Hospital in Comas, the field hospital installed in Huiracocha Park, in San Juan de Lurigancho and the Essalud Octavio Mongrut Hospital in San Miguel. These initiatives are additional to the donation of medical equipment to the main hospitals of Ica, Moquegua, Junín, Piura and Lima, regions where Enel Perú has its generation plants, as part of the campaign "Let´s not permit our energy ever to stop". Enel Perú also contributed to the improvement of the electrical infrastructure of La Casa de Todos, an organization that supports vulnerable people in the country. Together with the communities Enel Perú, in a joint initiative with the companies EGE Santa Ana and Peruana de Energía, donated more than PEN170 thousand in medical materials and oxygen bottles to Julio César Demarini Regional Hospital and the Central Jungle and Tropical Diseases hospital "Hugo Pesce Pescetto". In Callao, the alliance between Enel Perú and Fundación Pachacútec made it possible to deliver 300 nutritious lunches every day in Ventanilla, benefiting 75 families living in vulnerable conditions. In response to the ongoing health emergency Enel Perú donated medical equipment and oxygen bottles to the Talara Health Center. In addition to the support provided to the hospital, the Company also delivered approximately a thousand basic food baskets to families in the Piedritas community and the northern area of Talara. Enel Perú provided PEN 3.5 million to continue supporting the health system and the most vulnerable populations, apart from guaranteeing the continuity of the electricity service to households and commercial establishments. Circular Economy Enel Américas´ Vision Circular economy is a new paradigm involving rethinking the entire economic model with a view to decoupling economic activities from the consumption of non- renewable natural resources. The implementation of this approach in Enel's business represents a fundamental choice at the strategic level of the Company. The concept seeks to achieve competitiveness objectives both in economic terms and risk reduction while contributing to tackling global challenges by prioritizing the protection of the environment. Rethinking the development model from a circular perspective is first and foremost an innovation challenge and involves an ever-closer collaboration with ecosystem. This increased awareness has led to innovations not only in terms of technology, processes, business models, but also in broader terms of synergies between the business areas within the Group and collaboration with all external counterparts. For the result to be effectively transformative, the circular approach must inevitably cover the entire value chain: it must reduce the consumption of energy and non- renewable materials, action related to the reduction of resources used as inputs must be taken, there must be a shift from the use of non-renewable to renewable sources or recycled inputs, and also the focus must shift to reusing or exchanging and moving to the product-as- a-service models (product as a service). Enel's strategy consists of five pillars: • Circular inputs: Increase the use of energy from renewable sources and enhance the use, reuse, or recycling of renewable raw materials. Enel X provided the Municipality of Lima with three electric cars to be used for the transport of medical personnel, the • Useful life extension: to extend the life of our assets, this pillar focuses on preventive or predictive maintenance 134134134 134562Enel Américas´ BusinessesRisk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetrics2020 Management actions, and incorporating modular designs to facilitate • Sharing platforms: by using information technologies, assembly, reorganization, and disassembly, allowing an underutilized asset is shared by multiple users easy repairs or replacements of parts in case of a failure, contributing to a collaborative economy and or the reuse of components at the end of a product´s PAGINA 133 useful life. maximizing the use of the produced goods. • New life cycles: incorporating new solutions such • Product as a service: incorporate “serviceability” where as reusing, repairing, upcycling, remanufacturing, the sale of a service is linked to the use of a product, and recycling once the lifecycle of the goods is so that it is designed for longevity, with characteristics over, creating new opportunities to re-valuate and such as high quality, durability, modularity and recirculate materials. repairability. This concept seeks to maximize the utilization factor and extend the lifespan of products. Useful life extension Asset design and management approach to extend the useful life of an asset or product. e.g., by means of modular design, facilitated repairability, predictive maintenance n s i g e Circ ula r d ular t u p n i c r i C ||||||||||| | | | | | | | | | | | | | | Useful i f e extension l | | | | | | | | ||||||||||||| | | | a s P | | | | r a o s d e u r v c | i t c e | | | | | | | | | | |||||||||||||| d platforms e r S h a | | | | N e c y w life cles ||||||||||||||| | | V a l u e r e c o very Product as a service Business model in which the customer purchase the service provided by a product that is owned by the Company, maximizing the utilization factor and useful life of the product. e s r u ula Circ Shared platforms Common Management systems used by multiple users of products, assets, or skills. Circular input Production and use model based on renewable input or previous life cycles (reuse and recycle). New life cycles Every solution focuses on preserving the value of an asset at the end of its life cycle by reusing, regenration, upcycling or recycling, in synergy with the other pillars. Social impacts of circular economy value to its customers with new, cleaner, and more efficient technologies. Circular economy presents a paradigm shift in relation to the current linear economic system, based on "extracting, To achieve this, we must move from the model based on producing, consuming and discarding" and proposes to resource consumption to one based on maintaining the transform the economic system by decoupling the growth value that contributes to closing life cycles and in which of finite natural resource extraction and eliminating waste human work plays a relevant role. To drive this transition, generation from the very moment of a product design. we require new professionals and new skills – a situation that is expected to significantly affect the labor market. Circular economy is considered an accelerator of Enel's sustainable strategy - competitive innovation and - Employment: with the creation of new professionals in environmental care mean redesigning all the processes all sectors (not only in existing sectors such as recycling along the value chain from working with suppliers, with and rental) thanks to the transition to a circular the Circular Procurement Program and even offering economy model as shown in the figure. 135 |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||Annual Report Enel Américas 2020 - Social: with the benefits of the new circular solutions in terms of access to products and services at a lower cost thanks to solutions such as reusing, recycling, sharing and thinking about products as a service. - Professional impact: with new opportunities related to professional recycling, the exchange of skills, the creation of new more cross-cutting profiles, the recovery of more 'artisanal' skills, etc. Circular economy and decarbonization Circular economy started with an initial limited approach to waste management without any connection to the decarbonization problem. As circular economy gradually developed, its application to the entire value chain was expanded from the design phase and, consequently, its close connection with decarbonization became apparent. It is not a circular economy if the new business models contribute higher emissions than the “business as usual” approach. Basically, fuel-related emissions are roughly 70% associated with material extraction and processing, goods production, and the disposal phases. According to some recent studies (EmA; WRI, EC), the EC can play an important role in achieving the overall decarbonization targets, contributing up to 45%. To achieve a sustainable model, we must pursue decarbonization and circularity, but it is clear that decarbonization and circularity are not independent variables: to decarbonize we cannot act only in the energy sector, but also around the whole economic model, while circularity is enhanced by renewable energies. There is also one more element to consider: renewable energy is undergoing, and will increasingly undergo, a very fast development in the coming years. If this does not happen from a circular perspective, in terms of materials used, design, installation methods and disposal, the risk is that the benefits created in terms of cancelled direct emissions can be largely annulled. Training/internal culture A transformation such as the transition to a circular economy model requires deep rethinking in terms of technical knowledge, skills, ways of working, collaboration, and integration. In 2020, the Group's countries got together in Latin America and co-organized the First Edition of the School of Circular Economies Enel Latam. For eight weeks, 100 colleagues from different lines of business met with national and international experts to learn about circular economy. Strategies, business models, circular design, customer value creation, governance and circular cities were addressed during the process. In addition to learning from the subjects most relevant to circular economy, 10 multidisciplinary work teams were formed to design circular projects for the Company and to learn by doing. This program will be set up annually to continue promoting knowledge and collaboration in circular economy matters. Another relevant element was the launch of the e-circular platform, the Company´s internal platform whose aim is to support the development of people's "circular" behavior, thus projecting to a personal level the initiatives that the Group is implementing in its business ventures. The platform makes it possible for Enel collaborators to offer goods, search for objects and make their skills available. In addition, the platform represents a "focal point" of all "circular culture" initiatives promoted in Enel through information, news, and multimedia content about circular economies. The metrics of the main initiatives: One of the most relevant challenges in incorporating Circular Economy is the quantification and valorization of business circularity, therefore, we developed a measurement model called CirculAbility Model©. The model allows to create a circularity baseline related to the "Business as Usual" model and quantify the benefits created by the application of one or more strategic pillars of Circular Economy, by using a number of sub-indicators: 136136136 134562Enel Américas´ BusinessesRisk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetrics2020 ManagementSUSTAINABLE INPUTS PLATFORMS SHARING LOAD FACTOR INCREASE PRODUCT AS A SERVICE INCREASE PRODUCT LIFE NEW LIFE CYCLES % EFFICIENCY* % RENEWABLE % FROM RE-USE % RECYCLE % NON-RENEWABLE MATERIALS AND ENERGY * Applicable only to selected cases LOAD FACTOR INCREASE INCREASED LOAD FACTOR INCREASED PRODUCT LIFE % UPCYCLING % RE-USE % RECYCLE % WASTE USAGE MATERIALS AND ENERGY Below we present projects and their results by country: Country Action Pillar of circularity Business line KPI IMPACT Environmental Economic Argentina Network mining New life cycle Global Recovered material 317 tn Sales revenue increase Brazil Circularity of Transformer Oil New life cycle I&N Liters of Oil 658,488L Savings --> EBITDA Sale of materials and components from disposed equipment Increased scrap parts life cycle Colombia Peru New life cycle Thermal Copper recovered 180 tn Higher EBITDA Life extension GPG Waste avoided 366 kg by year Annual savings 137 Annual Report Enel Américas 2020 Managing the Economic Dimension Shareholders and Investors Customers Operational improvement for better service quality Network development is critical to increasing the resilience and reliability of power supply and delivering quality service. That is why the Company has focused its investments on the digitization of our networks and assets. In generation, Enel Américas continuously makes investments aimed at incorporating the latest improvements in innovation, digitization, robotization, automation, data driven and predictive maintenance technologies in its generation park. This has permitted us to use resources more efficiently and to manage our assets better, while maintaining excellent performance. Creation of value for shareholders • The Company has an Investor Relations department that seeks to provide transparent, timely and quality information to the market on the Company´s main financial, strategic, and operational issues. • The main communication channels with the market include our website, the Investor Relations app, conference calls, emails, face-to-face meetings, and participation in local and international conferences. • Regarding the documentation available to our investors, it mainly includes quarterly results presentations, annual reports, annual sustainability reports, 20-F reports, press releases and quarterly financial tables, as well as corporate presentations. • As of 2016, the Company has also presented every year its strategic plan for the next three years, which shows the main strategic guidelines and financial and business projections. 138138138 134562Enel Américas´ BusinessesRisk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasMetrics2020 ManagementManagement 2020 Analyst Coverage • In 2020, Enel Américas participated in seven Enel Américas has the coverage of 10 analysts of which conferences, of which six were international, and one five are international and five are national. Currently, the was national, where the Company representatives Company has seven positive rating and three neutral met various investors from around the world. We also ratings. There are no negative ratings. took part in two roadshows, organized by international banks, whose main task was to coordinate the agendas The Company considers the coverage of all reports from and meetings of the Company´s management. major global and local brokers except for those that have not updated their estimates for the last 12 months. • In total, Enel Américas held around 300 meetings For more information go to the investors section of our in 2020, considering both one-on-one meetings website: https://www.enelamericas.com/en/investors.html requested by investors, as well as roadshows and conferences mentioned above. All IR activities were held virtually as a result of the COVID-19 pandemic. • Our Investor Relations management department is available to address any concerns about the Company, whether in Spanish or in English, via email ir.enelamericas@enel.com Rafael de la Haza Enel Américas Head of Investor Relations Investor Relations team Jorge Velis Javiera Rubio Nicolás Gracia Francisco Basauri Mónica de Martino Catalina Soffia Website www.enelamericas.com Mobile App Enel Américas Investors Download App IOS Android 139 Annual Report Enel Américas 2020 6 Metrics 140140 141 Annual Report Enel Américas 2020Metrics Related with Human Resources Consolidated Staff Numbers Main executives and other managers Professionals and technicians Employees and others Total 2020 Main executives and other managers Professionals and technicians Employees and others Total 2019 8 10 - 2 - 1 8 13 3 14 - 1 1 30 - 1 - 2 14 - 21 - 12 27 168 39 64 93 38 7 28 812 723 1,015 2,820 126 71 37 1,657 26 53 4 2 292 31 576 9 603 1,508 10,634 4 - 31 21 6 9 177 386 105 3,011 - 323 11 1,813 - 32 - - - - - - - - 5,929 51 74 124 61 13 38 997 1,122 1,123 5,845 126 395 49 3,500 26 86 4 4 306 31 597 9 615 1,535 16,731 7 9 - 2 - 1 9 12 4 15 - 2 1 26 3 1 - - 16 - 22 - 15 25 170 47 66 76 40 8 27 777 698 1,008 3,090 146 67 36 4 - 30 21 6 5 181 408 107 3,362 - 331 11 58 75 106 63 14 33 967 1,118 1,119 6,467 146 400 48 1,679 1,834 3,539 32 53 4 - 270 36 576 6 591 1,473 10,806 - 32 - - - - - - - 2 6,334 35 86 4 - 286 36 598 6 606 1,500 17,310 Enel Américas Enel Brasil Cachoeira Fortaleza Volta Grande Cien Rio Ceará Goiás São Paulo Enel X Brasil Costanera Chocón Edesur Enel trading Argentina Dock Sud CTM y TESA Enel Argentina Gx Perú Enel Gx Piura Dx Perú Enel X Perú Emgesa Codensa Total Diversity of Executives Executive team Chile Argentina Brazil Colombia Peru Consolidated Number of people per gender 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 Female Male Total - 8 8 - 7 7 9 26 35 6 27 33 13 38 51 13 39 52 12 27 39 11 29 40 8 27 35 9 29 38 42 126 168 39 131 170 142142 134562Metrics2020 ManagementEnel Américas´ BusinessesRisk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasNumber of executives by nationality Chile Argentina Brazil Colombia Peru Consolidated 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 Chilean Brazilian Spanish Argentine Colombian Costa Rican Italian Venezuelan Peruvian Total 1 3 2 - - - 2 - - 8 1 1 2 - - - 3 - - 7 - 1 3 21 1 - 9 - - - - 3 19 2 - 9 - - - 50 - - - - - 1 - - 51 - - - - - 1 - 1 - 2 - 32 - 4 - - 1 - 3 - 31 - 5 - - 35 33 51 52 39 40 4 - 2 - 1 - 2 - 4 - 2 - 1 1 2 - 26 35 28 38 6 54 9 21 34 - 17 1 26 6 52 10 19 34 1 19 1 28 168 170 Number of executives by age range Between 30 and 40 years Between 41 and 50 years Between 51 and 60 years Between 61 and 70 years Older than 70 years Total Chile Argentina Brazil Colombia Peru Total 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 - 5 2 1 - 8 - 5 1 1 - 7 4 17 12 2 - 35 3 16 10 4 - 33 10 24 12 4 1 51 8 23 15 5 1 52 2 19 18 - - 39 2 22 16 - - 40 2 13 16 4 - 35 3 15 14 6 - 38 18 78 60 11 1 16 81 56 16 1 168 170 Number of executives by seniority Less than 3 years Between 3 and 6 years Between 6 and 9 years Between 9 and 12 years More than 12 years Total Chile Argentina Brazil Colombia Peru Consolidated 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 - - 5 2 1 8 - - 5 1 1 7 3 1 1 3 27 35 2 1 1 18 11 33 4 6 4 1 36 51 6 8 1 3 34 52 4 3 1 4 27 39 5 4 - 1 30 40 7 4 - 2 22 35 10 2 1 2 23 38 18 14 11 12 113 168 23 15 8 25 99 170 Total Diversity in the Organization In the organization Number of people per gender Female Male Total Chile 2020 15 36 51 2019 18 40 58 Argentina 2019 2020 533 526 3,538 3,579 4,064 4,112 Brazil Colombia Peru 2020 1,685 7,838 9,523 2020 2019 705 1,714 8,394 1,445 10,108 2,150 2019 665 1,441 2,106 2020 276 667 943 2019 264 662 926 Consolidated 2019 2020 3,194 3,207 13,524 14,116 16,731 17,310 143 Annual Report Enel Américas 2020Number of people by nationality in the organization Chilean Brazilian Spanish Argentine Uruguayan Congolese German Venezuelan Colombian North American US Bolivian Paraguayan Lithuanian Afghan South African Russian Canadian Italian Rumanian French Cuban Panamanian Costa Rican Salvadoran Peruvian Total Number of people by age range Younger than 30 years Between 30 and 40 years Between 41 and 50 years Between 51 and 60 years Between 61 and 70 years Older than 70 years Total Number of people band seniority Less than 3 years Between 3 and 6 years Between 6 and 9 years Between 9 and 12 years More than 12 years Total Chile Argentina Brazil Colombia Peru Consolidated 2020 41 3 4 - - - - - - - - - - - - - - 2 - - - - - - 1 51 2019 47 3 4 - - - - - - - - - - - - - - 2 1 - - - - - 1 2020 4 2 4 3,921 9 - - 16 5 4 49 19 2 - - 1 1 17 1 1 - - - - 8 58 4,064 2019 5 1 4 3,955 9 - - 18 8 4 50 19 2 - - - 1 26 1 1 - - - - 8 4,112 2020 1 2019 2 9,506 10,089 - 3 - 1 1 1 4 - 1 1 - 1 2 - - - - - - - - 1 1 9,523 10,108 - 3 - 1 1 1 3 - 1 1 - 1 2 - - - - - - - - 1 1 2020 2 - 3 - - - - 1 2,131 - - - - - - - - 9 - - 1 1 - - 2 2,150 2019 2 - 6 - - - - 1 2,083 - - - - - - - - 10 - - 1 1 - - 2 2,106 2020 6 - 3 - - - - - 2 1 - - - - - - - 4 - - - - - - 927 943 2020 2019 54 7 9,511 - 14 4 3,924 - 9 - 1 - 1 - 18 - 2,141 2 5 1 50 - 20 - 2 - 1 - 2 - 1 - 1 - 32 5 1 - 1 - 1 - 1 - - 1 1 - 906 939 926 16,731 2019 63 10,093 18 3,958 9 1 1 20 2,097 5 51 20 2 1 2 - 1 43 2 1 1 1 1 1 918 17,310 Chile Argentina Brazil Colombia Peru Total 2020 10 11 17 10 3 - 51 2019 16 17 12 11 2 - 2020 357 1,203 1,262 1,105 137 - 58 4,064 2019 357 1,330 1,291 1,023 111 - 4,112 2020 1,321 4,143 2,898 1,024 135 2 2019 1,744 4,420 2,770 1,054 119 1 9,523 10,108 2020 222 851 669 371 37 - 2,150 2019 237 840 638 345 45 1 2,106 2020 102 208 283 244 106 - 943 2019 92 184 294 249 107 - 2020 2,012 6,416 5,129 2,754 418 2 926 16,731 2019 2,446 6,791 5,005 2,682 384 2 17,310 Chile Argentina Brazil Colombia Peru 2020 16 6 3 6 20 51 2020 2019 178 21 741 10 996 7 590 1 19 1,559 58 4,064 2019 315 1,039 870 858 1,030 4,112 2019 2020 1,932 1,319 2,259 2,182 1,531 1,535 1,151 1,278 3,209 3,235 9,523 10,108 2020 453 479 236 208 774 2,150 2019 485 490 210 171 750 2,106 2020 166 85 77 34 581 943 Consolidated 2020 2019 2,132 155 3,493 64 2,847 80 2,116 31 596 6,143 926 16,731 2019 2,908 3,862 2,698 2,212 5,630 17,310 Inclusion of people with different capacities Work flexibility and Smartworking Employees with disability Employees who opted for work flexibility 2020 87 278 `- 3 5 373 2019 92 281 `- 3 5 381 País Argentina Brazil Chile Colombia Peru Total 2020 1,584 4,153 51 1,411 815 8,014 2019 222 370 11 505 166 1,274 Country Argentina Brazil Chile Colombia Peru Total 144144 134562Metrics2020 ManagementEnel Américas´ BusinessesRisk Strategy and ManagementCorporate GovernanceA Look at Enel Américas Work-related training Training hours 54,600 439,715 2,595 114,795 47,729 659,434 102,760 399,620 1,351 167,472 39,934 711,137 Argentina Brazil Chile Colombia Peru Total Argentina Brazil Chile Colombia Peru Total 2020 2019 Total number of trained employees % women % men 3,455 9,775 15% 85% 15% 85% 57 30% 70% 2,138 36% 64% 942 29% 71% 16,367 3,238 9,732 19% 81% 14% 86% 17% 83% 53 36% 64% 2,113 31% 69% 906 29% 71% 16,042 19% 81% Pay Gap Women's pay gap Chile Intermediate management - level 1 Intermediate management - level 2 Intermediate management - level 3 Professionals – level 1 Professionals – level 2 Office workers Average Women's pay gap Argentina Executives Intermediate management - level 2 Intermediate management - level 3 Professionals - level 1 Professionals - level 2 Office workers Average Women's pay gap Brazil Executives Intermediate management - level 1 Intermediate management - level 2 Intermediate management - level 3 Professionals - level 1 Professionals - level 2 Office workers Average 2020 2019 Women's pay gap 2020 2019 Colombia Executives Intermediate management - level 1 Intermediate management - level 2 Intermediate management - level 3 Professionals - level 1 Professionals - level 2 Office workers Average Women's pay gap Peru Executives Intermediate management - level 1 Intermediate management - level 2 Intermediate management - level 3 Professionals - level 1 Professionals - level 2 Office workers Average 107% 94% 96% 97% 98% 99% 100% 100% 101% 94% 96% 95% 99% 98% 101% 98% 2020 2019 117% 104% 93% 94% 102% 93% 87% 89% 127% 109% 90% 84% 115% 94% 87% 91% 88% 108% 64% 76% 154% - 63% 72% 128% 67% 91% 97% 143% 91% 2020 2019 84% 84% 92% 99% 82% 107% 91% 89% 84% 85% 99% 85% 105% 91% 2020 2019 95% 97% 102% 104% 97% 104% 115% 102% 90% 104% 108% 104% 98% 95% 113% 102% 145 Annual Report Enel Américas 2020 146146 134562Metrics2020 ManagementEnel Américas´ BusinessesRisk Strategy and ManagementCorporate GovernanceA Look at Enel AméricasEnvironmental Metrics Detail Production Greenhouse Gases Emissions (1): CO2 Th (2) So2 Nox(4) Dust(5) (3) Emissions Intensity CO2Th(2) So2 Nox(4) Dust(5) (3) Thermal energy consumption Coal Natural gas Gasoil Fuel oil Total Water consumption in areas of water shortage Generation in areas with scarcity Water Intensity of power generation (1) Greenhouse Gases (2) Carbon dioxide (3) Sulphur dioxide (4) Nitrogen oxide (5) Particulate matter (Dust) Unit GWh Ton Ton Ton Ton g/KWh eq g/KWh eq g/KWh eq g/KWh eq ktep Ktep Ktep Ktep Ktep % l/kWh eq 2020 40,455 2019 41,760 6,895,903 6,963,813 5,828 10,551 314 170 0.144 0.261 0.008 200 2,476 4 97 2,777 1% 0.13 5,901 9,576 331 167 0.141 0.229 0.008 173 2,706 37 37 2,952 3% 0.16 147 Annual Report Enel Américas 20207 Other Regulatory Corporate Information 148148 149 Annual Report Enel Américas 2020Other Regulatory Corporate Information Incorporation Documents The Company that gave rise to Enel Américas S.A. was initially launched under the name of Compañía Chilena Metropolitana de Distribución Eléctrica S.A. by a public deed dated June 19, 1981, issued by Patricio Zaldívar Mackenna, Notary Public in Santiago, and modified by a public deed on July 13 of the same year and by the same notary public. The Company’s incorporation was authorized, and its bylaws approved by Resolution 409-S of July 17, 1981 of the Securities and Insurance Commission (SVS). The extract of the incorporation authorization and approval of the bylaws was registered in the Santiago Commerce Registry on page 13,099 No. 7,269 in 1981 and were published in the Official Journal on July 23, 1981. The bylaws of Enel Américas S.A. have undergone several modifications ever since. On August 1, 1988, the Company’s name was changed to "Enersis S.A.". In April 2015, Enersis S.A. began a corporate reorganization process. As part of this process, on December 18, 2015 at the Company’s Extraordinary Shareholders´ Meeting shareholders. approved the first stage of the reorganization process called “the Spin-off”. Subsequently, the Company´s Spin-off was approved, and the entity called “Enersis Chile S.A.” was created, representing the unique vehicle for the control of generation and distribution assets that the Group owns in Chile. The former Enersis S.A. was renamed as “Enersis Américas S.A.” to control the businesses in the other countries of the region (Argentina, Peru, Brazil, and Colombia). The Spin-off was formalized in a public deed on January 8, 2016, issued by Iván Torrealba Acevedo, Notary Public in Santiago, whose extract was registered on pages 4013 No. 2441 of the Commerce Registry in 2016 of the Property Registrar in Santiago and was published in the Official Journal on January 22, 2016. A supplementary extract was registered on pages 10.743 No. 6.073 of the same Registry in 2016 of the Property Registrar and was published in the Official Journal on February 10, 2016. The Extraordinary Shareholders´ Meetings of Enersis Américas S.A. and its subsidiaries Endesa Américas S.A. and Chilectra Américas S.A. were held on September 28, 2016 all of them approving, among other issues, the second stage of the corporate reorganization plan denominated “the Merger”. Therefore, Enersis Américas S.A., the absorbing entity, acquired all the assets and liabilities of Chilectra Américas S.A. and Endesa Américas S.A., the subsidiaries, succeeding them in every right and obligation and incorporating to Enersis Américas S.A. the entirety of shareholders and equity of Chilectra Américas S.A. and Endesa Américas S.A. A Meeting held on December 1, 2016 agreed that, after the Merger, Enersis Américas S.A would change its name to “Enel Américas S.A.”. The Meeting was registered in a public deed dated October 18, 2016, granted by Iván Torrealba Acevedo, Notary Public, whose extract was registered on pages 79,974 No. 43,179 of the 2016 Commerce Registry of the Property Registrar in Santiago and was published in the Official Journal on October 29, 2016. The functional currency of the Company was changed from pesos to US dollars at the Extraordinary Shareholders´ Meeting held on April 27, 2017, thus modifying the fifth permanent article and the first transitory article of the Company’s bylaws. Finally, on December 18, 2020, the Company's shareholders approved the Merger by incorporation of EGP Américas SpA into Enel Américas and the subsequent capital increase. Under the Merger, Enel Américas will acquire all the assets and liabilities of EGP Américas and replace it in all its rights and obligations, permitting the Company to control and consolidate the ownership of the business and unconventional renewable energy generation assets that Enel Green Power SpA develops and owns in Central and South America (except Chile). The aforementioned operation was completed on April 1, 2021. 150150 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationCorporate purpose d) Provide subsidiaries or affiliates with the necessary financing so they can carry out their business and provide management services; financial, technical, The Company´s corporate purpose is indicated in the legal, and auditing advice; and in general, any type of modification approved by the Extraordinary Shareholders´ service deemed necessary for their best performance. Meeting held on September 28, 2016, formalized in a public deed on October 18, 2016, issued by Iván Torrealba Apart from its main corporate purpose and always acting Acevedo, Notary Public in Santiago, whose extract was within the limits established by the Investment and registered on pages 79,974 No. 43,179, of the Commerce Financing Policy approved by the Shareholders Meeting, Registry of the Property Registrar in Santiago in 2016 and the Company may invest in: was published in the Official Journal on October 29, 2016. The Company´s corporate purpose is to carry out, either administration, intermediation, trading, and transfer of all in the country or abroad, the exploration, development, kinds of movable and immovable assets, either directly or The acquisition, operation, construction, rental, operation, generation, distribution, transmission, through subsidiaries or affiliates. transformation and/ or sales of energy in any of form and nature, directly or through intermediaries, as well All kinds of financial assets, including shares, bonds and as telecommunications activities and engineering debentures, commercial papers and, in general, all kinds consultancy services in the country and abroad. It may of titles or securities and company contributions, either also invest and manage its subsidiaries and associated directly or through subsidiaries or affiliates. companies, whether generating, transmitting, distributing, or trading electricity or whose business is any of the following: (i) energy, in any forms or nature, (ii) the supply of public utilities or whose main input is energy, (iii) telecommunications and information technology, and (iv) internet-based brokerage services. To comply with its corporate purpose, the Company will carry out the following functions: a) Promote, organize, build, modify, dissolve, or sell Properties and facilities The main facilities in which Enel Américas subsidiaries carry out their main business activities are detailed in Chapter 4 in the Businesses section by country. Brands and insurance companies of any nature, which have similar The Company has registered the "Enersis Américas" corporate purposes. trademark in services, products, commercial and industrial establishments. In a communication addressed to the b) Propose investment, financing, and business policies to Board of Directors of Enel Américas S.A. issued in July 2016, subsidiaries, as well as accounting criteria and systems Enel SpA authorized the free use of the Enel brand by Enel that these should follow. Américas S.A. The name may be included in its corporate name, its logo or other forms of use. The Enel Américas c) Supervise the management of subsidiaries. trademark is duly registered. 151 Annual Report Enel Américas 2020Information on Shares Stock Exchange Transactions Stock Exchange Transactions Below we present quarterly transactions over the past three years, undertaken on the exchanges where Enel Américas shares are traded. In Chile, this happens through the Santiago Stock Exchange and the Chilean Electronic Exchange, while in the United States it is on the New York Stock Exchange (NYSE). Santiago Stock Exchange In 2020, 33,382 million shares were traded on the Santiago Stock Exchange, equivalent to Ch$4,168,569 million. The closing price of the stock as of December was Ch$116.01. Period 1st quarter 2018 2nd quarter 2018 3rd quarter 2018 4th quarter 2018 Total 2018 1st quarter 2019 2nd quarter 2019 3rd quarter 2019 4th quarter 2019 Total 2019 1st quarter 2020 2nd quarter 2020 3rd quarter 2020 4th quarter 2020 Total 2020 Units Amounts (Ch$) Average price 2,771,570,034 3,290,495,998 3,404,682,608 4,862,216,660 383,425,705,091 427,006,940,711 364,271,802,874 541,717,097,465 14,328,965,300 1,716,421,546,141 4,825,385,785 5,267,937,965 6,199,801,001 612,155,765,545 605,331,164,210 741,799,163,682 7,005,472,367 1,035,076,977,567 23,298,597,118 2,994,363,071,004 6,483,030,618 903,507,075,433 14,268,399,863 1,833,377,784,158 7,265,357,511 834,916,385,115 5,365,328,887 596,767,343,968 33,382,116,879 4,168,568,588,674 138.45 130.51 107.1 111.99 122.01 126.65 114.48 119.68 149.3 127.53 144.31 128.05 115.39 111.27 124.75 Chilean Electronic Stock Exchange In 2020, 2,418 million shares were traded on the Chilean Electronic Exchange, equivalent to Ch$301.340 million. The closing price of the stock as of December was Ch$116.50. Period 1st quarter 2018 2nd quarter 2018 3rd quarter 2018 4th quarter 2018 Total 2018 1st quarter 2019 2nd quarter 2019 3rd quarter 2019 4th quarter 2019 Total 2019 1st quarter 2020 2nd quarter 2020 3rd quarter 2020 4th quarter 2020 Total 2020 152152 Units Amounts (Ch$) Average price 265,640,945 315,617,793 206,898,749 134,618,362 37,149,674,644 40,051,124,833 21,982,108,385 14,791,542,973 922,775,849 113,974,450,835 96,739,255 112,668,680 321,016,940 187,247,739 717,672,614 144,597,209 1,237,699,863 673,706,089 361,507,323 12,233,577,575 13,216,085,533 37,641,372,132 27,761,301,991 90,852,337,231 20,075,715,893 162,895,157,521 78,587,318,409 39,782,570,462 2,417,510,484 301,340,762,285 139.09 130.94 106.26 110.56 121.71 128.50 114.92 119.55 149.58 128.14 141.98 126.84 114.18 111.31 123.58 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationNew York Stock Exchange (NYSE) Enel Américas shares began to be traded on the New York Stock Exchange (NYSE) on October 20, 1993. At the time, the Company's name was Enersis and the mnemonic was ENI. An American Depositary Share (ADS) issued by Enel Américas represents 50 shares and the current mnemonic is ENIA. Citibank N.A. acts as a depositary bank and Banco Santander Chile as custodian in our country. In 2020, 407 million ADS were traded in the United States, equivalent to US$3,158 million. The price of the ADS closed at US$8.22 in December. Period 1st quarter 2018 2nd quarter 2018 3rd quarter 2018 4th quarter 2018 Total 2018 1st quarter 2019 2nd quarter 2019 3rd quarter 2019 4th quarter 2019 Total 2019 1st quarter 2020 2nd quarter 2020 3rd quarter 2020 4th quarter 2020 Total 2020 Units Amounts (Ch$) Average price 47.259.808 65.764.152 61.238.283 97.296.394 540.952.152 687.363.196 488.063.068 799.163.804 271.558.637 2.515.542.219 93.356.577 50.723.996 84.411.906 94.253.155 322.745.634 105.532.984 130.171.049 104.948.137 66,780.890 407.433.060 888.587.040 428.879.782 716.122.405 928.306.385 2.961.895.611 906.951.037 1.003.015.883 763.353.164 484.871.129 3.158.191.213 11.44 10.50 8.08 8.12 9.53 9.67 8.42 8.43 9.92 9.11 9.03 7.75 7.30 7.30 7.84 Market Information New York Stock Exchange (NYSE) Performance of Enel Américas ADS listed in NYSE (ENIA) In 2020, the Chilean stock market continued with its with respect to Dow Jones Industrial and Dow Jones Utilities downward trend similar to 2019, closing the S&P/CLX IPSA indices over the past two years: with a 10.5% decrease. This performance is mainly explained by the COVID-19 health crisis, which affected many of the global and local markets. However, US Dow Jones Industrial had a positive performance at 7.2%, although London's FTSE 100 fell by 14.3%. Furthermore, in relation to the stock exchanges of the countries where Enel Américas operates in, the returns were varied: Argentina (Merval; +22.9%), Brazil (Bovespa; +2.9%), Colombia (Colcap; -13.5%) Peru (SPBLPGPT; +1.4%). Variation ENIA Dow Jones Industrial Dow Jones Utilities 2020 -25.1% 7.2% -1.7% 2019 23.1% 22.3% 23.3% Dividends Política de dividendo Despite the impact of the health crisis, we can see that only In accordance with General Standard No. 283. Number 5), Colombia presented a negative variation from the other the Company's dividend policies for 2021 and 2020 are countries where the Company is present. listed below. Santiago Stock Exchange Performance of Enel Américas' stock over the past two General aspects years with regards to the S&P/CLX IPSA Stock Price Index The Company's Board of Directors, in a session held on in the local market: Variation Enel Américas S&P/CLX IPSA 2020 -30.5% -10.5% 2019 36.3% -8.5% February 25, 2021 approved the following Dividend Policy and the corresponding procedure related to the payment of dividends of Enel Américas S.A., for the 2021 financial year. 153 Annual Report Enel Américas 2020 2021 Financial Dividend Policy The intention of the Board of Directors is to distribute an interim dividend, from the 2021 profits, of up to 15% of the profits as of September 30, 2021, as registered in the Financial Statements of Enel Américas S.A. on that date, to be paid in January 2022. Furthermore, the Board shall propose to the Ordinary Shareholders' Meeting, to be held in the first quarter of 2022, to distribute, as a final dividend, an amount that, together with the interim dividend mentioned before, will be equivalent to 50 % of the 2021 profits. The final dividend shall be one established by the Ordinary Shareholders' Meeting, to be held during the first four months of 2022. Compliance with the above program will be conditioned, in terms of dividends, on the profits obtained by the Company, seeking to maintain the Company´s financial balance. Enel Américas S.A.´s dividend payment procedure For dividend payments, whether interim or final, and to avoid incorrect collection, Enel Américas S.A. put in place the following payment methods: 1. Deposit in the shareholder´s current account. 2. Deposit in the shareholder´s savings account. 3. Nominative check or bank draft sent by mail to the residence of the shareholders, and 4. Withdrawal of a nominative check or a bank draft in the offices of DCV Registros S.A., the administrator of Enel Américas S.A’ shareholders, or in a bank or its branches established for such purpose and as informed in a notification to be published about the payment of dividends. . For the above-mentioned purposes, current or savings accounts can be held at any branch in the country. The payment method chosen by every shareholder will be used by DCV Registros S.A. for all dividend payments, as long as the shareholder does not express in writing his or her intention to choose a different payment method. Shareholders who have not registered a payment method will be paid according to point 4 above. 154154 Should checks or bank drafts be returned by mail to DCV Registros S.A., these will remain in their custody until the shareholders collect or request them. In the case of current bank accounts, Enel Américas S.A. and/or DCV Registros S.A. may request, for security reasons, that they be verified by the corresponding banks. If the accounts indicated by the shareholders are rejected, whether during said verification process or for any other reason, the dividend will be paid according to method 4 above. The Company has also adopted and will continue to do so in the future all the necessary security measures established in the dividend payment procedure, to protect both our shareholders and Enel Américas S.A. Dividend Policy for 2020 General aspects In a session held on February 26, 2020, the Company´s Board of Directors approved the following Dividend Policy and the payment procedures of Enel Américas S.A. dividends for 2020. Dividend Policy The Board of Directors intends to distribute an interim dividend, charged to the 2020 income of up to 15% of net income as of September 30, 2020 as shown in the Enel Américas S.A.’s financial statements until such date, to be paid in January 2021. The Board of Directors will also propose to the Ordinary Shareholders Meeting to be held during the first four months of 2021, to distribute, as a final dividend, an amount equal to 50% of the 2020 net income. The final dividend will be established by the Ordinary Shareholders’ Meeting to be held during the first four months of 2021. The compliance with said dividend program is subject to the results obtained by the Company aiming, at the same time, to maintain the Company´s financial balance. Enel Américas S.A.´s dividend payment procedure For dividend payments, whether interim or final, and to avoid incorrect collection, Enel Américas S.A. put in place the following payment methods: 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information 1. Deposit in the shareholder´s current account. by the shareholders are rejected, whether during said 2. Deposit in the shareholder´s savings account. verification process or for any other reason, the dividend 3. Nominative check or bank draft sent by mail to the will be paid according to method 4 above. The Company has residence of the shareholders, and also adopted and will continue to do so in the future all the 4. Withdrawal of a nominative check or a bank draft in the necessary security measures established in the dividend offices of DCV Registros S.A., the administrator of Enel payment procedure, to protect both our shareholders and Américas S.A’ shareholders, or in a bank or its branches Enel Américas S.A. established for such purpose and as informed in a notification to be published about the payment of Notwithstanding the foregoing, and considering the current dividends. . scenario, face-to-face payments such as collection in the office, withheld check, no payment method and certified For the above-mentioned purposes, current or savings mail checks will be exchanged for bank vouchers that can accounts may be held at any branch in the country. The be collected at any branch of the bank informed by DCV payment method chosen by each shareholder will be Registros throughout Chile. For shareholders who have used by DCV Registros S.A. for all dividend payments, as reported a deposit in a current or savings account, simple long as the shareholder does not express in writing his account or RUT account as a payment method, there will or her intention to choose a different payment method. be no modifications. Shareholders who have not registered a payment method will be paid according to point 4 above. Paid dividends Should checks or bank drafts be returned by mail to DCV Registros S.A., these will remain in their custody until the Distributable income in 2020 The distributable income in 2020 is shown below: shareholders collect or request them. In the case of current bank accounts, Enel Américas S.A. and/or DCV Registros S.A. may request, for security reasons, that they be verified by the corresponding banks. If the accounts indicated Income for the year * Distributable Income * Attributable to the controlling shareholder. US$ th 825,197 412,599 Distributed dividends The following table shows dividends per share paid in recent years: Dividend no. 86 87 88 89 90 91 92 93 94 95 96 (1) 97 98 99 100 101 102 Type of dividend Interim Final Interim Final Interim Final Interim Final Interim Final Interim Final Interim Final Interim Final Interim Closing Date 01/19/2013 05/04/2013 01/25/2014 05/10/2014 01/24/2015 05/18/2015 01/23/2016 05/17/2016 01/21/2017 05/20/2017 01/20/2018 05/18/2018 01/19/2019 05/11/2019 01/18/2020 05/23/2020 01/23/2021 Payment Date 01/25/2013 05/10/2013 01/31/2014 05/16/2014 01/30/2015 05/25/2015 01/29/2016 05/24/2016 01/27/2017 05/26/2017 01/26/2018 05/25/2018 01/25/2019 05/17/2019 01/24/2020 05/29/2020 01/29/2021 Pesos/ Dollars per share (1) 1.21538 3.03489 1.42964 5.27719 0.83148 5.38285 1.23875 3.40599 0.94664 2.38705 0.001 0.00517 0.00134 0.00703 0.00162 0.00899 0.00096 Year 2012 2012 2013 2013 2014 2014 2015 2015 2016 2016 2017 2017 2018 2018 2019 2019 2020 (1) At the Extraordinary Shareholders' Meeting held on April 27, 2017, the Company's functional currency change from Chilean pesos to United States dollars was approved. From 2017 onwards, dividends are expressed in dollars per share. 155 Annual Report Enel Américas 2020 156156 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationDirect and Indirect Participation of Enel Américas Argentina Central Dock Sud S.A. Enel Generación Costanera S.A. Enel Generación El Chocón S.A. Compañía de Transmisión del Mercosur S.A. Transportadora de Energía S.A. Sacme S.A. Yacylec S.A. Empresa Distribuidora Sur S.A. Enel Argentina S.A. Enel Trading Argentina S.R.L. Hidroinvest S.A. Distrilec Inversora S.A. Inversora Dock Sud S.A. Central Vuelta Obligado S.A. Termoeléctrica Manuel Belgrano Termoeléctrica José de San Martín Brazil EGP Cachoeira Dourada S.A. Enel Generación Fortaleza S.A. Enel Green Power Proyectos I (Volta Grande) Central Generadora Fotovoltaica Sao Francisco Ltda. Enel Cien S.A. Enel Distribución Rio S.A. Enel Distribución Sao Paulo S.A. Enel Distribución Goiás S.A. Enel Distribución Ceará S.A. Enel Brasil S.A. Enel X Brasil S.A. Enel Tecnología de Redes S.A. Enel Trading Brasil S.A. Luz de Angra Energía S.A. Enel Uruguay S.A. Colombia Emgesa S.A. E.S.P. Compañía Distribuidora y Comercializadora de Energía S.A. Enel X Colombia S.A.S Sociedad Portuaria Central Cartagena S.A. Inversora Codensa S.A.S Bogotá Ze S.A.S. Peru Enel Generación Perú S.A. Enel Generación Piura S.A. Enel Distribución Perú S.A. Enel Perú S.A.C. Chinango S.A.C. Compañía Energética Veracruz S.A.C. Enel X Perú S.A.C. Gx: Generation Dx: Distribution Tx: Transmission Ox: Pipelines, marketing, others Business Gx Gx Gx Tx Tx Tx Tx Dx Ox Ox Ox Ox Ox Gx Gx Gx Property 41.25% 75.62% 65.69% 100.00% 100.00% 36.04% 33.33% 72.09% 99.92% 99.96% 96.65% 51.50% 57.14% 25.43% 5.72% 5.12% Business Property Gx Gx Gx Gx Tx Dx Dx Dx Dx Ox Ox Ox Ox Ox Ox 99.75% 100.00% 100.00% 100.00% 100.00% 99.73% 100.00% 99.96% 74.05% 100.00% 100.00% 100.00% 100.00% 50.99% 100.00% Business Property Gx Dx Ox Ox Ox Ox 48.48% 48.30% 48.30% 48.47% 48.30% 48.30% Busines Property Gx Gx Dx Ox Ox Ox Ox 83.60% 96.50% 83.15% 100.00% 66.88% 100.00% 100.00% (*) The companies Termoeléctrica Manuel Belgrano and Termoeléctrica José de San Martín are incorporated even though during 2020 the ability to have any significant influence over them was lost, which is why in the financial statements as of December 31, 2020 they are no longer presented as investments in associates. 157 Annual Report Enel Américas 2020 Perimeter of Enel Américas' corporate holdings ENEL AMÉRICAS S.A. 48.481619% 5.049568% 48.302608% Emgesa S.A 94.940734% Sociedad Portuaria Central Cartagena S.A. Inversora Codensa S.A.S. 100% Codensa S.A. Bogotá ZE S.A.S. 100% ENEL X Colombia S.A.S. 100% Central Dock Sud S.A. 0.235964% 71.775255% ENEL Generación Costanera S.A. 75.6813% 57.141692% Inversora Dock Sud S.A. 33.33333% Yacilec S.A. 0.47% Termoeléctrica Manuel Belgrano S.A. 0.42% Termoeléctrica José de San Martín S.A. 6.40% Central Vuelta de Obligado S.A. 1.89% 1.68% 1.3% 6.23% 5.60% 33.2% 8.674093 % ENEL Generación El Chocón S.A. 59.00% 41.941145% Hidroinvest S.A 54.757107% Chile Argentina Brazil Peru Colombia Uruguay (*) The companies Termoeléctrica Manuel Belgrano and Termoeléctrica José de San Martín are incorporated even though during 2020 the ability to have any significant influence over them was lost, which is why in the financial statements as of December 31, 2020 they are no longer presented as investments in associates. 158158 Enel Generación Chile S.A. 0.079318% ENEL Argentina S.A. 99.920682% 44.996467% 55.003533% ENEL Trading Argentina S.R.L. Distrilec Inversora S.A. 51.50% 56.357697% 43.097063% Edesur S.A. 50% SACME S.A. 100% ENEL Perú S.A.C. 99.999967% ENEL X Perú S.A.C. ENEL Generación Perú S.A. 80% Chinango S.A.C. 83.151796% 83.597016% 96.496857% ENEL Distribución Perú S.A. ENEL Generación Piura S.A. 100% Compañía Energética Veracruz S.A.C. ENEL Distribución Goiás S.A. 99.960036% 100% ENEL Brasil S.A. 100% Enel Tecnología de Redes S.A. ENEL Distribución Ceará S.A. 74.051061% 99.734188% EGP Cachoeira Dourada S.A. 99.754055% 100% ENEL Distribución Río S.A. ENEL Generación Fortaleza S.A. Enel Distribución São Paulo S.A. 100% EGP PROJETOS I (Volta Grande) 100% 0.0001% 99.9999% ENEL X Brasil S.A. 100% Central Geradora Fotovoltaica Sao Francisco Ltda. 51% ENEL CIEN S.A. 100% 100% Luz de Angra Energía S.A. 39.850288% 25.85109% TESA S.A. CTM S.A. 100% 100% ENEL Uruguay S.A. ENEL Trading Brasil S.A. 60.149712% 74.14891% 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information 48.481619% 5.049568% 48.302608% Emgesa S.A 94.940734% Sociedad Portuaria Central Cartagena S.A. Inversora Codensa S.A.S. 100% Codensa S.A. Bogotá ZE S.A.S. 100% ENEL X Colombia S.A.S. 100% Central Dock Sud S.A. 0.235964% 71.775255% ENEL Generación Costanera S.A. 75.6813% 57.141692% Inversora Dock Sud S.A. 33.33333% Yacilec S.A. 0.47% Termoeléctrica Manuel Belgrano S.A. 1.89% 0.42% Termoeléctrica José de San Martín S.A. 1.68% 1.3% 6.40% Central Vuelta de Obligado S.A. 6.23% 5.60% 33.2% ENEL 8.674093 % Generación El Chocón S.A. 59.00% 41.941145% Hidroinvest S.A 54.757107% Chile Argentina Brazil Peru Colombia Uruguay ENEL AMÉRICAS S.A. Enel Generación Chile S.A. 0.079318% ENEL Argentina S.A. 99.920682% 44.996467% ENEL Trading Argentina S.R.L. 55.003533% Distrilec Inversora S.A. 51.50% 56.357697% 43.097063% Edesur S.A. 50% SACME S.A. 39.850288% 25.85109% TESA S.A. CTM S.A. 60.149712% 74.14891% 100% ENEL Perú S.A.C. 99.999967% ENEL X Perú S.A.C. ENEL Generación Perú S.A. 80% Chinango S.A.C. 83.151796% 83.597016% 96.496857% ENEL Distribución Perú S.A. ENEL Generación Piura S.A. 100% Compañía Energética Veracruz S.A.C. ENEL Distribución Goiás S.A. 99.960036% 100% ENEL Brasil S.A. 100% Enel Tecnología de Redes S.A. ENEL Distribución Ceará S.A. 74.051061% 99.734188% EGP Cachoeira Dourada S.A. 99.754055% 100% ENEL Distribución Río S.A. ENEL Generación Fortaleza S.A. Enel Distribución São Paulo S.A. 100% EGP PROJETOS I (Volta Grande) 100% 0.0001% 99.9999% ENEL X Brasil S.A. 100% Central Geradora Fotovoltaica Sao Francisco Ltda. ENEL CIEN S.A. 100% 100% Luz de Angra Energía S.A. ENEL Uruguay S.A. 100% 100% ENEL Trading Brasil S.A. 51% 159 Annual Report Enel Américas 2020 Identification of Subsidiaries and Associate Companies Argentina CENTRAL DOCK SUD S.A. Company Name Central Dock Sud S.A. Type of Company Limited Liability Company Address Avenida Debenedetti 1636 Dock Sud Avellaneda, Argentina Phone 4229-1000 ID number Cuit 30-65599219-3 Subscribed and paid-in capital (US$ thousands) 14,645.51 Corporate purpose The Company´s corporate purpose is electricity generation and its wholesale. It may undertake any supplementary and additional activities linked to its corporate purpose and it is legally authorized to acquire rights and offer obligations and carry out any activities not prohibited law, by these by-laws, the Document of the International Public Tender for the Sale of Central Dock Sud S.A's Shares, or by any other applicable regulation. Core activities Electricity generation Regular Directors Héctor Martín Mandarano Jorge Esteban Ravlich Juan Carlos Blanco Daniel Garrido Mónica Diskin Ricardo Hernán Castañeda Marcelo Adrián Sobico Rodolfo Eduardo Berisso Rodolfo Heriberto Freyre Alternate Directors Patricio Javier Cipollone Sebastián Torres Nicola Melchiotti Michele Siciliano Claudio César Weyne da Cunha Gabriel Eduardo Abalos Alejandro Aníbal Avayu Juan Manuel Alfonsín Favio Alejandro Jeambeaut Senior Management Juan José Marcet 160160 General Manager Verónica Susana Balletto Finance Manager Natalia Nicali Human Resources and General Services Manager Leonardo Limoli Commercial Manager Graciela Babini Planning and Control Manager Sebastián Ortiz Acquisitions and Stores Manager Commercial relations The Company has no commercial relations with Enel Américas S.A. Shareholding of Enel Américas S.A. 1.52% ENEL GENERACIÓN COSTANERA S.A. Company Name Enel Generación Costanera S.A. Type of Company Public Limited Company Address Avda. España 3301, Buenos Aires, Argentina Phone (5411) 4307 3040 ID number Cuit 30-65225424-8 Subscribed and paid-in capital (US$ thousands) 8,349.89 Corporate purpose The Company´s corporate purpose wholesale of electricity. is the production and Core activities Electricity generation Regular Directors Juan Carlos Blanco Chairman Claudio César Weyne Da Cunha Vice-president Daniel Garrido Mónica Diskin María Victoria Ramírez Jorge Piña Matías María Brea Juan Pedro Chávez Alternate Directors Nicola Melchiotti Fernando Carlos Luis Boggini Michele Siciliano 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationJorge Alberto Lemos Rodrigo Quesada Mariano Pessagno Leonel Sánchez Paola Lorena Rolotti (until June 2020) Senior Management Pablo Gutiérrez Cerezales General Manager Commercial relations The Company has no commercial relations with Enel Américas S.A. Shareholding of Enel Américas S.A. 1.27% ENEL GENERACIÓN EL CHOCÓN S.A Company Name Enel Generación El Chocón S.A. Type of Company Public Limited Company Address Avda. España 3301 Ciudad Autónoma de Buenos Aires, Argentina ID number Cuit 30-66346104-0 Subscribed and paid-in capital (US$ thousands) 3,551.55 Corporate purpose The Company´s corporate purpose wholesale of electricity. is the production and Core activities Electricity generation Regular Directors Juan Carlos Blanco Chairman Claudio César Weyne Da Cunha Vice-president Mónica Diskin María Victoria Ramírez Daniel Garrido María Cecilia Manso Néstor Hugo Martín Alberto Eduardo Mousist Alternate Directors Nicola Melchiotti Fernando Carlos Luis Boggini Rodrigo Quesada Jorge Lemos Michele Siciliano Sebastián Eduardo Guasco Óscar Horacio Carvalho Senior Management Daniel Garrido General Manager Commercial relations The Company has no commercial relations with Enel Américas S.A. Shareholding of Enel Américas S.A. 1.80% CTM Compañía de Transmisión del Mercosur S.A. Company Name Compañía de Transmisión del Mercosur S.A. Type of Company Public Limited Company incorporated in the city of Buenos Aires, Argentina Address Bartolomé Mitre 797, piso 11, Ciudad Autónoma de Buenos Aires, Argentina ID number Cuit 30-70044083-0 Subscribed and paid-in capital (US$ thousands) 1,189.46 Corporate purpose The Company´s corporate purpose is to supply high-voltage electricity transmission services, both for national and international electrical systems under current legislation. The Company may participate in national or international tenders, become a high- voltage electricity transmission concessionaire, locally or abroad, and engage in such activities as may be deemed necessary for its corporate purpose. Core activities International interconnected electricity transmission. Regular Directors Juan Carlos Blanco Chairman Claudio César Weyne da Cunha Vice-president Mónica Diskin Alternate Directors Nicola Melchiotti María Victoria Ramírez Jorge Lemos Senior Management Sandro Ariel Rollan General Manager Commercial relations The Company has no commercial relations with Enel Américas S.A. Shareholding of Enel Américas S.A. 0.02% TESA- TRANSPORTADORA DE ENERGÍA S.A. Company Name Transportadora de Energía S.A. Type of Company Public Limited Company Address Bartolomé Mitre 797, piso 11 Buenos Aires, Argentina Phone (5411) 4394 1161 161 Annual Report Enel Américas 2020ID number Cuit 30-70752931-4 Subscribed and paid-in capital (US$ thousands) 1,19 Corporate purpose The Company´s corporate purpose is high voltage electricity transmission services linked to both national and international electrical systems. To this end the Company may participate in national and international tenders, become a high-voltage electricity transmission utilities concessionaire, locally or abroad, and undertake any kind of activity deemed necessary to meet its purpose. Aires, and the interconnections with the Argentine Interconnected System (SADI in its Spanish acronym). Represent Distribuidora Edenor S.A. and Edesur S.A. in terms of operations before the Wholesale Electricity Market Management Entitiy (Compañía Administradora del Mercado Mayorista Eléctrico CAMMESA in Spanish). In general, undertake all the activities required to manage the business correctly, as established for that purpose by the concessionaires in the electricity distribution and trading system in the Federal Capital and Greater Buenos Aires, and according to the international public tender for the sale of Class A shares of Edenor S.A. and Edesur S.A. and the relevant regulations. Core activities Management, supervision, operation, and control of a part of the Argentine electricity system Core activities Electricity transmission Regular Directors Juan Carlos Blanco Chairman Claudio César Weyne da Cunha Vice-president Mónica Diskin Alternate Directors Nicola Melchiotti María Victoria Ramírez Jorge Lemos Senior Management Sandro Ariel Rollan General Manager Regular Directors Emilio Jiménez Criado Chairman Daniel Flaks Vice-president Gianluca Palumbo Eduardo Maggi Alternate Directors Fabio Canosa Vincenzo Ruotolo Miguel Patricio Farrell José Luis Marinelli Senior Management Francisco Cerar General Manager Commercial relations The Company has no commercial relations with Enel Américas S.A. Commercial relations The Company has no commercial relations with Enel Américas S.A. Shareholding of Enel Américas S.A. 0.05% SACME S.A. Company Name Sacme S.A. Type of Company Limited Liability Company Address Avda. España 3251 Ciudad Autónoma de Buenos Aires, Argentina Phone (5411) 4361 5107 ID number Cuit 30-65942051-8 Subscribed and paid-in capital (US$ thousands) 0.14 Corporate purpose The Company´s corporate purpose is to develop, supervise and control the operation of electricity generation, transmission and sub-transmission systems of the Federal Capital and Greater Buenos 162162 YACYLEC S.A. Company Name Yacylec S.A. Type of Company Limited Liability Company Address Bartolomé Mitre 797, piso 11º. Ciudad Autónoma de Buenos Aires, Argentina Phone (5411) 4587 4322/4585 ID number Cuit 30-65840539-6 Subscribed and paid-in capital (US$ thousands) 237.89 Corporate purpose The Company´s corporate purpose is to construct, operate and maintain the first electrical link between Yacyretá Hydroelectric Plant and the Resistencia Transformation Station, and electricity transmission services, including the exploitation under concession as an independent carrier. 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationCore activities Electricity transmission Regular Directors Guillermo Osvaldo Díaz Chairman Gianfranco Catrini Vice-president Marcelo Daniel Meritano Juan M. Pereyra Juan Carlos Blanco Claudio César Weyne Da Cunha Raffaele Sardella Luis Juan Bautista Piatti Claudio César Costantino Mónica Diskin Oscar Arturo Quihillalt Andrés Edgardo Blanco Alternate Directors Mateo Nazzari Matteo Milanesi Carlos Fernando Bergoglio Juan José Arena Nicola Melchiotti María Victoria Ramírez Debora Paula Ureta Dzeno Schio Sergio Alejandro Vestfrid Jorge Alberto Lemos Robert Ortega Alberto Esteban Verra Senior management Sandro Ariel Rollan General Manager Commercial relations The Company has no commercial relations with Enel Américas S.A. EDESUR Empresa Distribuidora Sur S.A. Company Name Empresa Distribuidora Sur S.A. Type of Company Public Limited Company Address San José 140 (1076) Capital Federal, Argentina Phone (54 11) 4370 3700 ID number Cuit 30-65511651-2 Subscribed and paid-in capital (US$ thousands) 10.688,33 Corporate purpose Electricity distribution and sale and similar operations. Core activities Distribution of electricity Regular Directors Juan Carlos Blanco Chairman Claudio César Weyne Da Cunha Vice-president María Alejandra Martínez Rubén López Viíctor José Díaz Bobillo Mónica Diskin Giovanni Zanchetta Jaime Barba Alejandro Martínez Alternate Directors Jorge Alberto Lemos María Victoria Ramírez Nicola Melchiotti Andrés Leonardo Vittone Gonzalo Peres Moore Hernán Alberto Rey Leonel Sánchez Gabriel Grande Mauricio Barreto Senior Management Gianluca Palumbo Fanizzi General Manager Commercial relations The Company has no commercial relations with Enel Américas S.A. Shareholding of Enel Américas S.A. 6.59% ENEL ARGENTINA S.A. Company Name Enel Argentina S.A. Type of Company Public Limited Company Address Av. España 3301 Buenos Aires, Argentina Phone (5411) 4307 3040 ID number Cuit 30-65012611-0 Subscribed and paid-in capital (US$ thousands) 27,330.43 Corporate purpose The Company´s corporate purpose is to invest in companies dedicated to the production, transmission and distribution of electricity and its sale, as well as financial activities except those reserved by law exclusively for banks. Core activities Investment company. Chairman Nicola Melchiotti Vice-president Aurelio R. Bustilho de Oliveira Regular Director Juan Carlos Blanco Alternate Directors Mónica Diskin Claudio César Weyne Da Cunha María Victoria Ramírez 163 Annual Report Enel Américas 2020Commercial relations The Company has no commercial relations with Enel Américas S.A. HIDROINVEST S.A. Shareholding of Enel Américas S.A. 0.98% ETA- ENEL TRADING ARGENTINA S.R.L. Type of Company Limited responsibility company Address San José 140, piso 6, CABA Buenos Aires, Argentina Phone (5411) 4124-1600 ID number Cuit 30-69160705-0 Subscribed and paid-in capital (US$ thousands) 166.67 Corporate purpose The Company´s corporate purpose is the wholesale purchase and sale of power and electricity produced by third parties and/or to be consumed by third parties, including imports and exports of power and electricity and the sale of royalties. Also, transactions for the sale or purchase of natural gas, and/or its transport, including imports and/or exports of natural gas and/ or the sale of royalties, as well as the supply and/or development of related services. Commercial activities and transactions for the sale or purchase of liquid fuels and crude oil, and/or lubricants and/or transport of such elements, including the imports and/or exports of liquid fuels and the sale of royalties, as well as the supply and/or development of related services. The Company may undertake for this purpose all the complementary and additional activities that are linked to the activities comprising its corporate purpose. Core activities Sale of electrical energy, gas, and derivatives. Computer operations and/or control services and/or telecommunications. Regular Directors Nicola Melchiotti Claudio César Weyna Da Cunha Alternate Directors Mónica Diskin Fernando Carlos Luis Boggini Senior Management Sergio Campos General Manager Commercial relations The Company has no commercial relations with Enel Américas S.A. Shareholding of Enel Américas S.A. 0.03% 164164 Company Name Hidroinvest S.A. Type of Company Public Limited Company Address Avda, España 3301 Buenos Aires, Argentina Phone (5411) 4307 3040 ID number Cuit 30-66325758-3 Subscribed and paid-in capital (US$ thousands) 657.92 Corporate purpose The Company´s corporate purpose is to acquire and maintain a majority shareholding in Hidroeléctrica Alicura S.A. and/ or Hidroeléctrica El Chocón S.A. and/or Hidroeléctrica Cerros Colorados S.A. ("the concession companies") created by the National Executive Power decree 287/93 and manage such investments. Core activities Investment company Regular Directors Nicola Melchiotti Chairman Claudio César Weyne Da Cunha Vice-president Juan Carlos Blanco Alternate Directors Mónica Diskin Fernando Carlos Luis Boggini María Victoria Ramírez Commercial relations The Company has no commercial relations with Enel Américas S.A. Shareholding of Enel Américas S.A. 0.88% DISTRILEC INVERSORA S.A. Company Name Distrilec Inversora S.A. Type of Company Limited Liability Company Address San José 140 Buenos Aires, Argentina Phone (54 11) 4370 3700 ID number Cuit 30-65572599-3 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationSubscribed and paid-in capital (US$ thousands) 5.918,91 Corporate purpose The Company´s exclusive corporate purpose is to invest capital in established companies or ones to be established whose main activity is electricity distribution or which directly or indirectly participate in companies whose principal activity is electricity distribution by undertaking all kinds of financial and investment activities, except for those provided for by laws of financial entities, the purchase and sale of public and private securities , bonds, stocks, negotiable bonds and loans, and placing funds in bank deposits of any kind. Core activities Investment company. Regular Directors Nicola Melchiotti Chairman Guillermo Pablo Reca Vice-president Gabriel Grande Mónica Diskin Leonel Sánchez Claudio César Weyne Da Cunha Andrés L. Vittone Gonzalo Peres Moore Víctor J. Díaz Bobillo Marcelo Suva Alternate Directors María Alejandra Martínez M. Victoria Ramírez Hernán Alberto Rey María Florencia De Donatis Fernando Carlos Luis Boggini Juan Manuel Pazos Rubén Vázquez Rubén López Patricio Jorge Richards Leonardo Marinaro company ventures, collaboration groups, joint ventures, consortiums, and any other kind of association, and in general, to purchase, sell, and negotiate securities, shares and all other kinds of securities and credit documents in any of the systems or methods created or to be created. Core activities Investment company Regular Directors Juan Carlos Blanco Chairman Daniel Garrido Vice-president Mónica Diskin Héctor Martín Mandarano Jorge Esteban Ravlich Ricardo Castañeda Alternate Directors Nicola Melchiotti Michele Siciliano Claudio Ceésar Weyne Da Cunha Patricio Javier Cipollone Alejandro Aníbal Abayu Sebastián Torres Commercial relations The Company has no commercial relations with Enel Américas S.A. Shareholding of Enel Américas S.A. 0.05% CENTRAL VUELTA DE OBLIGADO S.A. Company Name Central Vuelta de Obligado S.A. Type of Company Limited Liability Company Commercial relations The Company has no commercial relations with Enel Américas S.A. Address Av. Thomas Edison 2701 Ciudad Autónoma de Buenos Aires, Argentina Shareholding of Enel Américas S.A. 0.03% INVERSORA DOCK SUD S.A. Company Name Inversora Dock Sud S.A. Type of Company Limited Liability Company Address Avenida Debenedetti 1636 Dock Sud Avellaneda Phone 4229-1000 ID number Cuit 30-68899996-7 Phone (5411) 5533 0200 ID number Cuit 30-71190058-2 Subscribed and paid-in capital (US$ thousands) 5.95 Corporate purpose The Company´s corporate purpose is electricity production and its wholesale commercialization particularly equipment purchases, construction, operation, and maintenance of the thermal power plant known as Vuelta de Obligado complying with "Management and Operation of Projects, Increase of Thermal Generation Availability and Generation Compensation Adaptation 2008-2011 Agreement” signed on November 25, 2010 by the National State and the subscribing generation companies. Core activities Construction of a thermal power plant called Vuelta de Obligado. Subscribed and paid-in capital (US$ thousands) 9,859.96 Corporate purpose The Company´s corporate purpose is to participate in companies of any nature, by creating shareholding companies, transitory Regular Directors Leonardo Pablo Katz Chairman Adrián Gustavo Salvatore 165 Annual Report Enel Américas 2020 Vice-president Daniel Garrido Mónica Diskin Alternate Directors Leonardo Marinaro Ignacio Villamil Michele Siciliano Juan Carlos Blanco Senior Management Leonardo Pablo Katz General Manager Alternate Directors Michele Siciliano Juan Carlos Blanco Diego Gabriel Baldassarre Juan Castellanos Mon Leonardo Marinaro Leonardo Katz Luis Agustín León Longombardo Rodrigo Leonardo García Sergio Raúl Sánchez Senior Management Francisco Monteleone General Manager Commercial relations The Company has no commercial relations with Enel Américas S.A. Commercial relations The Company has no commercial relations with Enel Américas S.A. TERMOELÉCTRICA MANUEL BELGRANO S.A. Company Name Termoeléctrica Manuel Belgrano S.A. Type of Company Public Limited Company TERMOELÉCTRICA JOSÉ DE SAN MARTÍN S.A. Company Name Termoeléctrica José de San Martín S.A. Type of Company Public Limited Company Address Azopardo 1487, Ciudad Autónoma de Buenos Aires, Argentina Address Maipú 757, Piso 9° Ciudad Autónoma de Buenos Aires, Argentina Phone 011 3221-7950 ID number Cuit 30-70950490-4 Phone (54 11) 4117-1011/1041 ID number Cuit 30-70950877-2 Subscribed and paid-in capital (US$ thousands) 5.95 Corporate purpose The Company´s corporate purpose is electricity generation and its wholesale, and particularly the management of equipment, construction, operation, and maintenance of a thermal plant as established in the “Final agreement for the management and operation of projects for the re-adaptation of the MEM pursuant to Resolution SE No. 1427/2004, approved by Resolution SE No. 1193/2005. Core activities Electricity generation. Management services (purchase of equipment, construction, operation, and maintenance of a thermal power plant) Subscribed and paid-in capital (US$ thousands) 5.95 Corporate purpose The Company´s corporate purpose is electricity generation and its wholesale, and particularly the management of equipment, construction, operation, and maintenance of a thermal plant as established in the “Final agreement for the management and operation of projects for the re-adaptation of the MEM pursuant to Resolution SE No. 1427/2004, approved by Resolution SE No. 1193/2005. Core activities (purchase of Electricity generation. Management services equipment, construction, operation, and maintenance of a thermal power plant). Regular Directors Daniel Garrido Chairman Mónica Diskin Vice-president Julián Mc Loughlin Guillermo Giraudo Adrián Gustavo Salvatore Gabriel Ures Gerardo Carlos Paz Rubén Turienzo José Manuel Tierno 166166 Regular Directors Jorge Rauber Chairman Adrián Salvatore Vice-president Daniel Garrido Mónica Diskin Guillermo Giraudo Julián Mc Loughlin José Manuel Tierno Gerardo Carlos Paz Ruben Turienzo 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationAlternate Directors: Leonardo Katz Leonardo Marinaro Juan Carlos Blanco Michele Siciliano Diego Gabriel Baldassarre Juan Castellanos Mon Sergio Raúl Sánchez Luis Agustín León Longombardo Rodrigo Leonardo García Senior Management Fernando Rabita General Manager Commercial relations The Company has no commercial relations with Enel Américas S.A. Commercial relations: The Company has no commercial relations with Enel Américas S.A. Shareholding of Enel Américas S.A. 1.22% ENEL GENERACIÓN FORTALEZA S.A. Company Name CGTF - Central Geradora Termeléctrica Fortaleza S.A. Type of Company Privately Held Corporation Address Rodovia 422, Km 1 s/n, Complexo Industrial e Portuário de Pecém Caucaia, Ceará, Brasil BRAZIL ENEL GREEN POWER CACHOEIRA DOURADA S.A. Phone (55 85) 3464-4100 ID number Cnpj 04.659.917/0001-53 Company Name Enel Green Power Cachoeira Dourada S.A. Type of Company Privately Held Corporation Address Rodovia GO 206, Km 0, Cachoeira Dourada Goiânia Goiás, Brasil Phone (55 62) 3434 9000 ID number Cnpj 01.672.223/0001-68 Subscribed and paid-in capital (US$ thousands) 12,386.81 Corporate purpose The Company´s corporate purpose is to undertake studies, planning, construction, installation, operation and exploitation of electricity generation plants, and the trade related to these activities. The Company may also promote or participate in other companies whose purpose is electricity generation in or out of the Sate of Goiás. Core activities Electricity generation Regular Directors Nicola Cotugno Francesco Tutoli Anna Paula Pacheco Senior Management Fabio Destefani Campos Interim Manager Raffaele Enrico Grandi Javier Florencio Alonso Pérez Janaina Savino Vilella Carro Alain Rosolino Ana Claudia Gonçalves Rebello José Nunes de Almeida Neto Anna Paula Hiotte Pacheco Margot Frota Cohn Pires Subscribed and paid-in capital (US$ thousands) 29,250.92 Corporate purpose The Company´s corporate purpose is to study, plan, construct and explore electricity production, transmission, distribution and trading systems, awarded, permitted or authorized under any legal title, as well as any other action related to the aforementioned activities; acquire, obtain and explore any right, concession or privilege related to the aforementioned activities, as well as the practice of all other activities and businesses necessary to achieve its purpose; and participate in the shareholding of other companies, as shareholder, partner or participant,, whatever the purpose. Core activities Electricity generation Board of Directors: (N/A) Senior Management Raffaele Grandi Pedro Werbest Alves Silva Alain Rosolino Ana Claudia Gonçalves Rebello Anna Paula Hiotte Pacheco Commercial relations: The Company has no commercial relations with Enel Américas S.A. Shareholding of Enel Américas S.A. 1.29% ENEL GREEN POWER VOLTA GRANDE S.A (formerly ENEL GREEN POWER PROJETOS I S.A) Company Name Enel Green Power Volta Grande S.A Type of Company Limited Liability Company. Address Praça Leoni Ramos, nº 1, 5º andar - parte, bloco 1, São Domingos. Niterói, Rio de Janeiro. 167 Annual Report Enel Américas 2020Phone (21) 2716-1100 ID number Cnpj 25.176.391/0001-20 Subscribed and paid-in capital (US$ thousands) 108,920.18 Corporate purpose The Company´s corporate purpose is to generate electricity as granted, allowed, and authorized by the Granting Authority. The Company may also trade energy in any form and in any market. It may also market energy in any modality and in any market. Core activities Electricity generation Company without a Board of Directors Senior Management: Fabio Destefani Campos Margot Frota Cohn Company without a Board of Directors Senior Management Leandro Marins de Abreu Commercial relations: The Company has no commercial relations with Enel Américas S.A. Shareholding of Enel Américas S.A. 0.14% ENEL CIEN S.A. Company Name Enel Cien S.A. Type of Company Privately Held Corporation Address Praça Leoni Ramos, N° 1, piso 6, Bloco 2, São Domingos, Niterói Rio de Janeiro, Brasil Commercial relations: The Company has no commercial relations with Enel Américas S.A. Shareholding of Enel Américas S.A. 1.27% Phone (55 21) 3607 9500 ID number Cnpj 01.983.856/0001-97 CENTRAL GENERADORA FOTOVOLTAICA SÃO FRANCISCO LTDA Company Name Central Generadora Fotovoltaiva São Fransico Ltda. Type of Company Limited company incorporated according to the laws of the Republic of Brazil Address Praça Leoni Ramos nº 01 Parte, São Domingos, Niterói, Rio de Janeiro, Brasil. Subscribed and paid-in capital (US$ thousands) 54,877.27 Corporate purpose The Company´s corporate purpose is to participate in the production, industrialization, distribution, and marketing of electricity, including importing and exporting activities. To achieve its purpose, the Company may promote the study, planning and construction of the facilities related to energy production, transmission, conversion, and distribution systems, making and capturing the necessary investments for the development of the works aimed at providing such services. The Company may also promote the implementation of associated projects, such as activities inherent, additional, or complementary to the Company´s services and work. To achieve its purpose, The Company may participate in other companies. Phone (55 21) 2613 7000 ID number Cnpj 19.650.094/0001-72 Subscribed and paid-in capital (US$ thousands) 10,303.90 Corporate purpose The Company´s corporate purpose is to rent and manage equipment to produce solar energy as well as energy efficiency, electrical infrastructure, and others in addition to operating and maintaining the above-mentioned assets. Core activities Rental and management of equipment used to produce solar energy as well as energy efficiency, electrical infrastructure, and others in addition to operating and maintaining the above- mentioned assets. 168168 Core activities Electricity transmission Company without a Board of Directors Senior Management Guilherme Lencastre General Manager Raffaele Grandi Anna Paula Hiotte Pacheco Alain Rosolino José Nunes de Almeida Neto Janaina Savino Vilella Carro Margot Frota Cohn Pires Commercial relations: The Company has no commercial relations with Enel Américas S.A. Shareholding of Enel Américas S.A. 1.44% 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationENEL DISTRIBUCIÓN RÍO S.A. AMPLA ENERGÍA (Ampla Energía e Serviços S.A.) ENEL DISTRIBUCIÓN SÃO PAULO S.A. Company Name Ampla Energia e Serviços S.A. Type of Company Public Limited Company Address Praça Leoni Ramos, N° 01, São Domingos, Niteroi Rio deJaneiro, Brasil Phone (55 21) 2613 7000 ID number Cnpj 33.050.071/0001-58 Company Name Eletropaulo Metropolitana Eletricidade de São Paulo S.A. Type of Company Public Limited Company Address Avenida Dr. Marcos Penteado de Ulhôa Rodrigues, nº 939, lojas 1 e 2 (térreo) e 1º ao 7º andar, Bairro Sítio Tamboré, Torre II do Condomínio Castelo Branco Office Park, Barueri, São Paulo Phone (21) 2716-1113 ID number Cnpj 61.695.227/0001-93 Subscribed and paid-in capital (US$ thousands) 480,963.40 Subscribed and paid-in capital (US$ thousands) 592,875.17 Corporate purpose The Company´s corporate purpose is to study, plan, build and explore electricity production, transmission, transformation, distribution, and trading systems as well as provide related services that have been or may be granted in the future; conduct research in the energy sector; participate in regional, national and international organizations in the electricity sector and participate in other companies related to the energy sector as a shareholder, including in privatization programs in Brazil. Core activities Electricity distribution. Regular Directors Mario Fernando de Melo Santos Nicola Cotugno Márcia Sandra Roque Vieira Silva Guilherme Gomes Lencastre Anna Paula Hiotte Pacheco Otacilio de Souza Junior Corporate purpose The Company´s corporate purpose is to: exploit public energy services, mainly electricity services, in the areas established in the Concession Contract and in others where, under applicable law, it is authorized to act, study, develop, design, undertake, explore or transfer research and development plans and programs related to any type or form of energy; participate in electricity distribution and trade in electricity distribution and sale; supply technical services for the operation, maintenance and planning of third-party electrical installations; provide services for optimizing consumers´ energy processes and electrical installations; onerous transfer of right of way passage tracks of exploitable lines and land areas of plants and deposits. Other public or private services, including IT services through the operation of infrastructure, to produce additional alternative revenue; contribute to the preservation of the environment, as well as participate in community interest social programs; participate in ventures that permit to make use of real estate assets; and participate in other companies as a partner, part owner or shareholder. Alternate Directors Alain Rosolino José Nunes de Almeida Neto Michelle Rodrigues Nogueira Márcia Massotti de Carvalho Cristine de Magalhães Marcondes Luiz Carlos Franco Campos Senior Management Artur Manuel Tavares Resende Chairman Julia Freitas de Alcântara Nunes Alain Rosolino Raffaele Grandi José Nunes de Almeida Neto Janaina Savino Vilella Carro Anna Paula Hiotte Pacheco Cristine de Magalhães Marcondes Margot Frota Cohn Pires Marcia Sandra Roque Vieira Silva Commercial relations: The Company has no commercial relations with Enel Américas S.A. Shareholding of Enel Américas S.A. 6.60% Core activities Electricity distribution. Directors Mario Fernando Melo Santos Britaldo Pedrosa Soares Nicola Cotugno Aurelio Ricardo Bustilho de Oliveira Guilherme Gomes Lancastre Marcia Sandra Roque Vieira Silva Regina Lucia Strepeckes Senior Management Max Xavier Lins Rosario Zaccaria Marcia Massotti de Carvalho Flavia da Silva Baraúna Janaína Savino Vilella Carro Anna Paula Hiotte Pacheco Marcia Sandra Roque Vieira Silva Margot Frota Cohn Pires José Nunes de Almeida Neto Raffaele Enrico Grandi Alain Rosolino Commercial relations: The Company has no commercial relations with Enel Américas S.A. Shareholding of Enel Américas S.A. 11.65% 169 Annual Report Enel Américas 2020 ENEL DISTRIBUCIÓN GOIÁS S.A. CELG DISTRIBUIÇÃO S.A. - CELG-D Company Name CELG DISTRIBUIÇÃO S.A. - CELG-D Type of Company Public Limited Company Address Rua 2, Quadra A-37, nº 505, Jardim Goiás, Goiânia, Goiás. Phone (62) 3243 1771 ID number Cnpj 01.543.032/0001-04 Subscribed and paid-in capital (US$ thousands) 977,178.08 Corporate purpose The Company´s corporate purpose is to explore electricity distribution technically and commercially. Core activities Electricity distribution. Regular Directors Mario Fernando de Melo Santos Chairman Nicola Cotugno Vice-president Cristine de Magalhães Marcondes Guilherme Gomes Lencastre Aurelio Ricardo Bustilho de Oliveira Márcia Sandra Roque Vieira Silva Senior Management Jose Luis Salas Rincón Marcia Sandra Roque Vieira Silva Michelle Rodrigues Nogueira Cristine de Magalhães Marcondes Alain Rosolino Flavia da Silva Baraúna Rosana Rodrigues dos Santos Margot Frota Cohn Pires Commercial relations The Company has no commercial relations with Enel Américas S.A. Shareholding of Enel Américas S.A. 10.78% ENEL DISTRIBUCIÓN CEARÁ S.A. COELCE (Companhia Energética do Ceará S.A.) Company Name Companhia Energética do Ceará Type of Company Public Limited Company Address Rua Padre Valdevino, 150 - Centro Fortaleza, Ceará, Brasil 170170 Phone (55 85) 3453-4082 ID number Cnpj 07.047.251/0001-70 Subscribed and paid-in capital (US$ thousands) 171,776.83 of distribution is trading Corporate purpose the production, The Company´s corporate purpose transmission, electricity, and implementation of correlated services as granted or authorized and the development of activities associated with services, such as related commercial activities. It may also undertake studies, planning, projects, construction and operation of energy production, transformation, transport and storage, distribution and trading systems of any origin or nature, in the form of concessions, authorizations and permits granted to them under the jurisdiction in the territorial area of the State of Ceará, and other areas defined by the granting authority. The company may also carry out studies, projects and implementation of plans and program to research and develop new energy sources, in particular renewables and the study, development, and implementation, in the energy sector, of economic and social development plans and programs in the regions of the company´s and community´s interest. Finally, it may undertake other activities necessary to achieve the Company´s corporate purpose, as well as the participation in the share capital of other companies in Brazil or abroad, the purposes of which are the exploitation of public electricity services, including those related to production, generation, transmission, and distribution. Core activity Distribution and sale of electricity and related services in the State of Ceará, Brazil Regular Directors Mário Fernando de Melo Santos Chairman Nicola Cotugno Vice-president Teobaldo José Cavalcante Leal Guilherme Gomes Lencastre Cristine de Magalhães Marcondes Francisco Honório Pinheiro Alves Fernando Augusto Macedo de Melo João Francisco Landim Tavare Alternate Directors Alain Rosolino José Nunes de Almeida Neto Márcia Massotti de Carvalho Monica Hodor Maria Eduarda Fischer Alcure Michelle Rodrigues Nogueira Dilma Maria Toledo Artur Teixeira Neto Senior Management Charles de Capdeville General Manager Eduardo Gomes de Paula José Távora Batista Teobaldo José Cavalcante Leal Alain Rosolino 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationJosé Nunes de Almeida Neto Janaina Savino Vilella Carro Luiz Antônio Corre Gazulha Junior Margot Frota Cohn Pires Cristine de Magalhães Marcondes Márcia Sandra Roque Vieira Silva Cristine de Magalhães Marcondes Bruno Franco Cecchetti Commercial relations: The Company has no commercial relations with Enel Américas S.A. Commercial relations The Company has no commercial relations with Enel Américas S.A. Shareholding of Enel Américas S.A. 41.85% Shareholding of Enel Américas S.A. 4.54% ENEL BRASIL S.A. Company Name Enel Brasil S.A. Type of Company Privately Held Corporation Address Praça Leoni Ramos, N°1, 7° andar, bloco 2 Parte, Niterói, Rio de Janeiro, Brasil Phone (5521) 3607 9500 ID number Cnpj 07.523.555/0001-67 Subscribed and paid-in capital (US$ thousands) 3,772,913.79 Corporate purpose The Company´s corporate purpose is to participate in the shareholding of other companies, in any segment of the electricity or gas sectors, including commercial companies or the supply of services to companies operating in those sectors, in Brazil or abroad; the supply of transmission, distribution, generation or marketing services for electricity and related activities, as well as imports, exports and trading of natural gas in any physical condition for own or third-party use; and to participate, individually or through joint ventures, company, consortium or other similar forms of partnership, in tenders, projects and ventures for the development of the services and activities mentioned above. Core activities Investment company. Regular Directors Mario Fernando de Melo Santos Chairman Antonio Basilio Pires de Carvalho e Albuquerque Vice-president Aurelio Ricardo Bustilho de Oliveira Senior Management Nicola Cotugno General Manager Raffaele Grandi Antonio Basilio Pires de Carvalho e Albuquerque Alain Rosolino Anna Paula Hiotte Pacheco José Nunes de Almeida Neto Janaina Savino Vilella Carro Flávia da Silva Baraúna Margot Frota Cohn Pires Márcia Massotti de Carvalho Guilherme Gomes Lencastre ENEL X BRASIL S.A (formerly ENEL SOLUÇÕES S.A.) Company Name Enel X Brasil S.A. Type of Company Limited Liability Company incorporated under the law of the Federal Republic of Brazil Address Praça Leoni Ramos nº 01 Parte, São Domingos, Niterói, Rio de Janeiro, Brasil. Phone (55 21) 2613 7000 ID number Cnpj 08.438.725/0001-78 Subscribed and paid-in capital (US$ thousands) 36,141.30 Corporate purpose The Company´s corporate purpose is to participate in the shareholding capital of other companies, in Brazil or abroad, production, industrialization, assembly and trade in general, including import and export activities, for own or third-party trading of various products, and services in general for the electricity sector and others. Core activities General services for the electrical energy sector and others. Company without a Board of Directors Senior Management: Carolina Farinas Pinheiro Carlos Eduardo Cardoso de Souza Commercial relations: The Company has no commercial relations with Enel Américas S.A. Shareholding of Enel Américas S.A. 0.20% ENEL TECNOLOGIA DE REDES S.A (Formerly ENEL BRASIL INVESTIMENTOS SUDESTE 82 S.A) Company Name Enel Brasil Tecnologia de Redes S.A Type of Company Limited Liability Company. Address Praça Leoni Ramos, nº 1, 7º andar, bloco 2, São Domingos. Niterói, Rio de Janeiro. 171 Annual Report Enel Américas 2020Phone (21) 2716-1138 ID number Cnpj 30.156.611/0001-94 Subscribed and paid-in capital (US$ thousands) 0.19 Corporate purpose The Company’s corporate purpose is to plan, develop and implement energy generation, distribution, transmission or / or marketing activities. In addition, the shareholding of other companies operating or established to operate in the electricity generation, distribution, transmission and/or marketing segments as a shareholder; distribute appliances, instruments and equipment for electricity distribution, measure and control and sell devices to measure, distribute and control energy. Core activities Distribution of appliances, instruments and equipment for the distribution, measurement and control of energy and trading of devices to measure, distribute and control energy. Company without a Board of Directors Senior Management Guilherme Gomes Lencastre Bruno Franco Cecchetti Commercial relations The Company has no commercial relations with Enel Américas S.A. ENEL TRADING BRASIL S.A (Formerly ENEL BRASIL INVESTIMENTOS NORDESTE 86 S.A) Company Name Enel Trading Brasil S.A Type of Company Limited Liability Company. Address Praça Leoni Ramos, nº 1, 7º andar, bloco 2, São Domingos. Niterói, Rio de Janeiro. Phone (21) 2716-1138 ID number Cnpj 30.248.458/0001-25 Senior Management Javier Florencio Alonso Pérez General Manager Francesco Tutoli Commercial relations The Company has no commercial relations with Enel Américas S.A. LUZ DE ANGRA ENERGIA S.A. Company Name Luz de Angra Energia S.A. Type of Company Limited Liability Company. Address Praça Leoni Ramos, nº 1, Parte, São Domingos. Niterói, Rio de Janeiro. Phone (55 21) 2613 7000 ID number Cnpj 38.661.234/0001-52 Subscribed and paid-in capital (US$ thousands) 743.97 Corporate purpose The Company´s corporate purpose is to undertake works and services for public lighting systems, including the implementation, installation, recovery, modernization, efficiency, expansion, operation, maintenance, and improvement of public lighting networks, under the terms of the Concession Contract to be signed with the Municipality of Angra dos Reis, according to Public Competition No. 004/2020, published on March 6, 2020. Core activities Undertake works and services related to public lighting systems. Company without a Board of Directors Senior Management: Carlos Eduardo Cardoso de Souza General Manager Rogério Mohallem Commercial relations The Company has no commercial relations with Enel Américas S.A. Subscribed and paid-in capital (US$ thousands) 190.79 Corporate purpose The Company´s corporate purpose is the wholesale and retail trading of energy and other unspecified products, import and export activities, management activities, as well as related products and services, and participation in other companies. ENEL URUGUAY S.A. (Formerly NUXER TRADING S.A.) Company Name Enel Uruguay S.A Type of Company Limited Liability Company. Core activities Electricity generation Company without a Board of Directors 172172 Address Avenida Luis Alberto de Herrera, n. 1248, Torre II, Piso 15, OF 11300, Montevideo, Uruguay. 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationPhone N/A ID number Rut 21.823.444.001-0 Capital suscrito y pagado (US$ Thousands) 0.69 Corporate purpose The Company´s corporate purpose is to (a) industrialize and market, in all its forms, goods, leases of goods, works and services in the areas of : food, household and office items, automotive, bar, bazaar, rubber, communication, construction, cosmetics, leathers, sports, publishing, electronics, electrotechnical, teaching, shows, pharmacy, hardware store, photography, hotel, printing, computer science, jewelry, toys, wool, laundry, bookstore, cleaning, wood, machines, maritime , mechanics, metallurgy, mining, music, engineering works, optics, paper, perfumery, fishing, plastic, press, advertising, chemistry, professional services, technical and administrative services, tobacco, television, textile, transport, tourism, securities, clothing, veterinary, glass; (b) imports, exports, representations, commissions and appropriations; (c) purchase, sale, lease, administration, construction and all kinds of real estate transactions; (d) agricultural exploitation, afforestation, fruit farming, citriculture and similar; (e) participation, incorporation or acquisition of companies operating in the afore-mentioned sectors. Core activities All the activities named above. Company without a Board of Directors Senior Management Jorge Manuel Cernadas Rivarola Commercial relations The Company has no commercial relations with Enel Américas S.A. may develop its corporate purpose carrying out all activities related to the exploration, development, research, exploitation, marketing, storage, commercialization, transport and distribution of minerals and stone material, as well as the administrative, operational and technical management related to the production of minerals and the exploration and exploitation of deposits in the Republic of Colombia, including the purchase, sale, rental, distribution, import and export of raw materials, elements, machinery, and equipment for the mining sector; the imports of liquid petroleum-derived fuels for energy generation, as well as the imports of natural gas for energy generation and//or its commercialization. Likewise, the Company may promote and establish ventures or agencies in Colombia and abroad; acquire under any legal title all kinds of personal and real estate assets, lease, transfer and offer then in guarantee; exploit trademarks, trade names, patents, inventions or any other incorporating property; participate in public and private tenders; enter into and complete all kinds of contracts and acts, whether civil, labor,-related,commercial or financial or of any nature that are necessary, convenient or appropriate to reach the Company´s purpose, including participation in markets of financial derivatives of energy commodities; sell any product or by-product derived from the operation of generation plants different from electricity as well as any other product that has as any component as stated above; offer, or receive from, its shareholders, parent, subsidiary, and third-party money in mutual loans; withdraw, accept, borrow, collect and pay all kinds of securities, negotiable instruments, shares, executive securities and so on; enter into partnership contracts or acquire shares in companies and participate as a partner in other utilities; split from and merge with other companies whose corporate purpose is similar to the Company´s; take on any associative form or business collaboration with natural and legal persons, national or foreign, to carry out related, connected or complementary activities to the Company´s corporate purpose. Core activities Generation and sale of electricity and fuel gas sales. Colombia EMGESA S.A. E.S.P. Company Name Emgesa S.A. E.S.P. Type of Company Private Commercial Corporation. Public Utilities Company Address Carrera 11 N°82-76, piso 4 Bogotá, D.C. Colombia ID number Nit 860.063.875-8 Subscribed and paid-in capital (US$ Thousands) 191,473.48 Corporate purpose The main purpose of Emgesa is to generate and commercialize electricity under Law No. 143 of 1994 and its regulations that govern, are added, modify or annul them and all kinds of direct and indirect activities complementary or auxiliary to the fuel gas marketing business, taking the necessary actions to preserve the environment and good relations with the community in the area of influence of the company´s projects; also carry out works, designs and consulting services in electrical engineering and market products for the benefit of its customers. Likewise, the company Regular Directors Andrés Caldas Rico Lucio Rubio Díaz José Antonio Vargas Lleras Luisa Fernanda Lafaurie Rivera Juan Ricardo Ortega López Álvaro Villasante Losada Martha Veleño Quintero Alternate Directors Diana Marcela Jiménez Rodríguez Fernando Javier Gutiérrez Medina Michele Di Murro Óscar Sánchez Arévalo Andrés Baracaldo Sarmiento Felipe Castilla Canales Luis Javier Castro Lachner Senior Management Marco Fragale General Manager Marco Fragale Power Generation Manager Andrés Caldas Rico Legal and Corporate Affairs Manager Fernando Javier Gutiérrez Medina Energy Administration Manager Michele Di Murro Administration, Finance and Control Manager María Celina Restrepo Santamaría Communications Manager Rafael Carbonell Blanco Human Resources and Organization Manager Diana Marcela Jiménez Rodríguez 173 Annual Report Enel Américas 2020Regulations and Institutional Relations Manager Luis Alejandro Díaz Audit Manager Raúl Fernando Vacca Ramírez Procurement Manager Ana Patricia Delgado Meza Digital Solutions Manager Ana Lucía Moreno Moreno General Services and Security Manager Gian Paolo Daguer Sustainability Manager Commercial relations The Company has no commercial relations with Enel Américas S.A. incorporative property provided they are related to the Company´s main purpose; withdraw, accept, borrow, collect and pay all kinds of securities, negotiable instruments, shares, executive securities and so on; participate in public and private tenders; offer to, or receive from the shareholders, parent, subsidiaries, and third parties money in mutual loans; enter into insurance, transportation, contracts, joint accounts, contracts with banks and/or financial institutions. Similarly, it may participate as a banking and insurance correspondent for the benefit of our clients and third parties in conjunction with financial institutions. Core activities Electricity distribution and sale of energy. Shareholding of Enel Américas S.A. 6,82% CODENSA S.A. E.S.P. Company Name CODENSA S.A. E.S.P. Type of Company Private Commercial Corporation. Public Utilities Company Address Carrera 13 A No. 93-66 Bogotá D.C, Colombia Phone (57 1) 601 6060 ID number Nit 830.037.248-0 Subscribed and paid-in capital (US$ thousands) 3,941.00 Corporate purpose The Company´s corporate purpose is the distribution and marketing of electricity, as well as undertaking all kinds of activities related, complementary or additional to the distribution and marketing of energy, carrying out works, designs and consulting services in electrical engineering and the marketing of products for the benefit of its customers and third parties. The company may also carry out other activities related to the supply of public services in general, manage and operate other Utilities Companies, enter into and complete special management contracts with other Public Service Companies and sell or provide goods or services to other economic operators in and outside the country related to public services. The Company may also participate as a partner or shareholder in other companies including credit institutions; other utility companies, directly, or partnering with or in a consortium with others. While developing the main purpose as stated above, the Company may promote and establish ventures or agencies in Colombia or abroad; acquire under any legal title all kinds of personal and real estate property, lease, transfer, tax and offer them in guarantee; undertake any form of associative or business collaboration with natural or legal persons to carry out activities related, linked and complementary to their Corporate purpose; exploit trademarks, trade names, patents, inventions or any other 174174 Regular Directors Andrés Caldas Rico José Antonio Vargas Lleras Lucio Rubio Díaz Andrés Baracaldo Sarmiento Juan Ricardo Sarmiento Luis Javier Castro Lachner Andrés López Valderrama Alternate Directors Carlos Mario Restrepo Leonardo López Vergara Michele Di Murro Fredy Antonio Zuleta Dávila Felipe Castilla Canales Martha Veleño Quintero Mario Antonio Cajiao Pedraza Senior Management Francesco Bertoli General Manager Francesco Bertoli Infrastrucure and Networks Manager Andrés Caldas Rico Legal and Corporate Affairs Manager Carlos Mario Restrepo Enel X Manager Michele Di Murro Administration, Finance and Control Manager María Celina Restrepo Santamaría Communication Manager Rafael Carbonell Blanco Human Resources and Organization Manager Diana Marcela Jiménez Regulations and Institutional Relations Manager Luis Alejandro Díaz Audit Manager Raúl Fernando Vacca Ramírez Procurement Manager Ana Patricia Delgado Meza Digital Solutions Manager Ana Lucía Moreno Moreno General Services and Security Manager Gian Paolo Daguer Sustainability Manager Commercial relations The Company has no commercial relations with Enel Américas S.A. Shareholding of Enel Américas S.A. 4.48% 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationENEL X COLOMBIA S.A.S. Company Name Enel X Colombia S.A.S. Type of Company Simplified Joint Stock Company Address Carrera 13 A No. 93-,66, piso 2 Bogotá, D.C. Colombia ID number Nit 901.176.579-6 Subscribed and paid-in capital (US$ thousands) 1,461.13 Corporate purpose The Company´s corporate purpose is to carry out any legal commercial or civil activity. In particular, The company may : a) Implement public lighting projects to modernize, manage, operate and maintain, expansions, teleprocessing, collection of inventories, photometric designs, auditing, among others; under the different contract modalities with the state such as concessions, individually or jointly building strategic alliances; b) develop electricity engineering projects of low, medium and high voltage, special lighting projects, architectural illumination and Christmas lighting, energy storage projects and renewable energies through the participation in public and private tender processes, enter into contracts with government entities or companies, of mixed economies or fully private; c) design, develop, maintain, build all types of electric installations in industrial and/ or commercial areas and/or free zones. d) commercialize electric materials, provide basic and detailed conceptual engineering services, such as advisory services, studies, auditing and project supervision; development and sale of renewable energy projects, energy intelligence software, operation and maintenance of public service systems; e) develop and implement new products and services related to public and private sectors need, through the following: 1) use of existing public lighting infrastructure to leverage innovation and technology projects (Smart Cities); 2) urban development projects such as the installation and maintenance of traffic lights, traffic signals, bus stops, advertising and parks among other urban spaces. 3) implementation of energy as a service model, respond to the demand, increase reliability of industrial users in the country; f) carry out every legal action and operation required for the development of the company’s purpose; g) acquire and develop goods of any nature, either movable or immovable properties, corporeal or incorporeal, required for the development of the Company´s businesses; h) sell, lease, tax and manage the Company´s assets; i) issue, withdraw, accept, endorse, insure, deduct, and in general negotiate, securities or any kind of individual or collective loans; j) enter into any kind of public or private contracts; k) become part of , as permitted by law and by-laws, other companies, to expand or supplement the Company’s purpose, either by subscribing or acquiring quotas or shares to remain part of or merge with them; l) enter into contracts to participate, either actively or passively, in consortia, temporary companies, joint ventures and any other legal way of business collaboration; m) enter into or implement, in general, any action or contract required to develop the Company’s corporate purpose. Regular Directors Lucio Rubio Díaz Carlos Mario Restrepo Molina Michele Di Murro Alternate Directors Andrés Caldas Rico Diego Rolando Valderrama Cecilia Inés del Toro Senior Management Carlos Mario Molina General Manager Diego Rolando Valderrama First Replacement Manager Cecilia Inés del Toro Second Replacement Manager Commercial relations The Company has no commercial relations with Enel Américas S.A. Shareholding of Enel Américas S.A. 0.02% SOCIEDAD PORTUARIA CENTRAL CARTAGENA S.A. Company Name Sociedad Portuaria Central Cartagena S.A. Type of Company Public Limited Company Address Carrera 13 A No. 93-,66, piso 2 Bogotá, D.C. Colombia ID number Nit 900.325.249-7 Subscribed and paid-in capital (US$ thousands) 26.22 Corporate purpose The company’s main purpose is to invest, construct, and maintain docks and private and public ports, their management and operations and the development and operation of multipurpose ports pursuant to current laws, among others. Regular Directors Marco Fragale Lorena Rojas Fernando Javier Gutiérrez Medina Alternate Directors Gustavo Gómez Francesco Cirillo José Arturo López Senior Management Gustavo Gómez Cerón General Manager Herwin Marcos Villamil First Replacment Manager José Arturo López Rodriguez Second Replacement Manager Commercial relations The Company has no commercial relations with Enel Américas S.A. Shareholding of Enel Américas S.A. 0.02% 175 Annual Report Enel Américas 2020INVERSORA CODENSA S.A.S. BOGOTÁ ZE S.A.S Company Name Inversora Codensa S.A.S. Type of Company Simplified Joint Stock Company Address Carrera 13 No. 93-66 Bogotá, Colombia Phone (571) 601 6060 ID number Nit 900.351.013-6 Company Name BOGOTÁ ZE S.A.S. Type of Company Simplified Joint Stock Company Address Carrera 13 A No. 93-66 Bogotá D.C, Colombia Phone (57 1) 601 6060 ID number Nit 901.423.472-7 Subscribed and paid-in capital (US$ thousands) 1.46 Subscribed and paid-in capital (US$ thousands) 0.29 Corporate purpose The Company´s corporate purpose In particular, the company may undertake any activities related to electrical and sustainable mobility in Colombia and abroad. It may also participate in public or private tenders. legal activity. is any Core activities Electromobility Senior Management Carlos Mario Restrepo General Manager Diego Rolando Valderrama Replacement Manager Commercial relations The Company has no commercial relations with Enel Américas S.A. Corporate purpose The Company´s corporate purpose is to invest in in residential public electric utility services, especially the acquisition of shares in any public electric utility company or in any other company that also invests in utilities whose main purpose is residential electrical energy services under Law 142 of 1994, or in any other company that invests in utilities whose main purpose is residential public electric utility services. Core activities Investment company. Senior Management David Felipe Acosta Correa Manager Leonardo López Vergara First Replacement Manager Juan Manuel Pardo Gómez Second Replacement Manager Commercial relations The Company has no commercial relations with Enel Américas S.A. 176176 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationPerú ENEL GENERACIÓN PERÚ S.A. Company Name Enel Generación Perú S.A.A. Type of Company Public Limited Company Address Calle César López Rojas N° 201, urbanización Maranga, San Miguel Lima, Perú (cambio Address memo 2015) ID number Ruc 20330791412 Subscribed and paid-in capital (US$ thousands) 756,173.99 Corporate purpose In general, activities related to electricity generation. It may also carry out activities of any other kind that are related to the Company´s main corporate purpose. Core activities Electricity generation Directors José Manuel Revuelta Mediavilla Chairman Guillermo Martín Lozada Pozo Vice-president Daniel Abramovich Ackerman Pedro Segundo Cruz Vine Francisco García Calderón Portugal Carlos Rojas Perla Elena Conterno Martinelli Senior Management Rigoberto Novoa Velásquez General Manager Daniel Abramovich Ackerman Legal Services Manager Guillermo Marín Lozada Pozo Administration, Finance and Control Manager Commercial relations The Company has no commercial relations with Enel Américas S.A. Shareholding of Enel Américas S.A. 6.21% ENEL GENERACIÓN PIURA S.A. Company Name Enel Generación Piura S.A. Type of Company Public Limited Company Address Calle César López Rojas 201, urbanización. Maranga, San Miguel Lima, Perú ID number Ruc 20270508163 Subscribed and paid-in capital (US$ thousands) 22,542.08 Corporate purpose. The Company´s corporate purpose is electricity generation and natural gas processing as authorized under current legislation. Core activities Electricity generation and sale of natural gas Directors José Manuel Revuelta Mediavilla Chairman Guillermo Martín Lozada Pozo Vice-president Pedro Cruz Vine Senior management Rigoberto Novoa Velásquez (representative of General Manager of Enel Generación Perú S.A.A.) General Manager Commercial relations The Company has no commercial relations with Enel Américas S.A. Shareholding of Enel Américas S.A. 1.28% ENEL DISTRIBUCIÓN PERÚ S.A.A. Company Name Enel Distribución Perú S.A.A. Type of Company Public Limited Company Address Calle César López Rojas N°201 urbanización, Maranga, San Miguel Lima, Perú Phone (51 1) 561 2001 ID number Ruc 20269985900 Subscribed and paid-in capital (US$ thousands) 147.019,24 Corporate purpose Activities specific to the supply of electricity services distribution, transmission, and generation, as per current legislation. In addition, the Company may engage in the sale of goods in any form, as well as the supply of advisory and financial services, among others, 177 Annual Report Enel Américas 2020except for those services for which an express authorization is required under current legislation. Core activities Electricity distribution Regular Directors : José Manuel Revuelta Mediavilla Chairman Guillermo Martín Lozada Pozo Vice-president Carlos Alberto Solís Pino Patricia Lisetta Teullet Pipoli (until November 12, 2020) Martín Pérez Monteverde Rafael Llosa Barrios María del Carmen Soraya Ahomed Chávez Daniel Abramovich Ackerman (until July 29, 2020) Senior Management Simone Botton General Manager Guillermo Martín Lozada Pozo Administration, Finance and Control Manager Carlos Alberto Solís Pino Commercial Manager María del Carmen Soraya Ahomed Chávez Legal Affairs Manager Milagritos Tatiana Lozada Gobea Regulations Manager Rocío Pachas Soto People and Organization Manger María Alicia Martínez Venero Communiations Manager resources, and especially those related to electricity distribution, transmission, and generation. Engineering services for the construction of power plants; activities related to the supply, assembly, and commissioning of equipment and/ or services for the electricity generation industry. Additionally, the company may carry out any other activity related to the electricity and water sectors. The Company may also make equity investments in any kind of property including stocks, bonds, and any other type of transferable securities, as well as the administration of such investments. The activities deemed to fall within the purpose of the Company may be carried out in Peru and abroad. Core activities Investment company. Senior management José Manuel Revuelta Mediavilla General Manager Commercial relations The Company has no commercial relations with Enel Américas S.A. Shareholding of Enel Américas S.A. 10.57% CHINANGO S.A.C. Company Name Chinango S.A.C. Type of Company Limited Liability Company Commercial relations The Company has no commercial relations with Enel Américas S.A. Shareholding of Enel Américas S.A. 5.70% ENEL PERÚ S.A.C. Company Name Enel Perú S.A.C. Type of Company Limited Liability Company Address Calle César López Rojas N°201, urbanización Maranga, San Miguel Lima, Perú ID number Ruc 20518723040 Subscribed and paid-in capital (US$ thousands) 73,642.09 Corporate purpose The Company’s corporate purpose is electricity generation, sale, and transmission. The Company may undertake any activity and may also enter into any kind of contracts permitted for such purposes under Peruvian law. Address Calle César López Rojas 201, urbanización Maranga, San Miguel Lima, Perú Core activities Electricity generation ID number Ruc 20298669707 Subscribed and paid-in capital (US$ thousands) 1,483,351.74 Corporate purpose The Company´s corporate purpose is to invest in other companies, in the exploitation of natural preferably in those involved General Manager Enel Generación Perú S.A.A., representado por Rigoberto Novoa Velásquez Commercial relations The Company has no commercial relations with Enel Américas S.A. Shareholding of Enel Américas S.A. 0.80% 178178 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationCOMPAÑÍA ENERGÉTICA VERACRUZ S.A.C. ENEL X PERÚ S.A.C. Company Name Compañía Energética Veracruz S.A.C. Type of Company Limited Liability Company Address Calle César López Rojas N°201, urbanización Maranga, San Miguel Lima, Perú ID number Ruc 20477979344 Subscribed and paid-in capital (US$ thousands) 797.72 Corporate purpose Develop and operate hydroelectric projects in any river basin in Peru. Core activities Holder of the Veracruz hydroelectric project. Claudio Helfmann Soto General Manager Commercial relations The Company has no commercial relations with Enel Américas S.A. Shareholding of Enel Américas S.A. 0.09% Company Name Enel X Perú S.A.C. Type of Company Limited Liability Company Address Calle César López Rojas N° 201 urbanización Maranga, San Miguel Lima, Perú Phone (51 1) 561 2001 ID number Ruc 20604098565 Subscribed and paid-in capital (US$ thousands) 3,318.28 is to engage Corporate purpose. The Company´s corporate purpose in the following activities: I. Industrial and commercial activities, such as: (i) distributed generation, co-generation, and storage, (ii) electromobility, (iii) sale of appliances, insurance marketing and collection, (iv) general services, (v) works, equipment, materials, and electrical solutions, (vi) lighting and fiber optics; II. Advisory activities in energy efficiency control to public and private entities, as well as individuals; III. Financial and investment activities Core activities Electricity distribution Senior Management Alejandro Barragán Osorio General Manager Commercial relations The Company has no commercial relations with Enel Américas S.A. Shareholding of Enel Américas S.A. 0.02% Comments: 1. There are no actions or contracts entered into by Enel Américas with its subsidiaries or associate companies that might significantly affect its operations and results. 2. With regard to commercial relations, the future projected links with subsidiaries or associate companies are part of The company’s purpose, in particular to provide its subsidiaries with the financial resources necessary for the development of their businesses and, additionally, to provide the subsidiaries with management, financial, commercial, technical and legal advisory services; and, in general, services of any kind that are deemed necessary for their performance, notwithstanding that none of these future links are expected to significantly affect the operations. 179 Annual Report Enel Américas 20208 Annexes 180180 181 Annual Report Enel Américas 2020Financial Statements 182182 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationCONTENTS INDEPENDENT AUDITOR’S REPORT CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATED STATEMENTS OF FINANCIAL POSITION CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME, BY NATURE CONSOLIDATED STATEMENT OF EQUITY CONSOLIDATED STATEMENTS OF CASH FLOWS, DIRECT METHOD NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS In thousands of: ThUS$ ThCh$ Th€ ThARS ThBRL ThCOP ThPEN US$ CLP EUR ARS BRL COP PEN UF UTM UTA Description U.S. dollar Chilean peso Euro Argentine peso Brazilian real Colombian peso Peruvian sol “Unidad de Fomento” - Chilean inflation-indexed, Chilean peso denominated monetary unit “Unidad Tributaria Mensual” “Unidad Tributaria Annual” - Chilean annual tax unit. One UTA equals 12 Unidades Tributarias Mensuales (“UTM”), a Chilean inflation-indexed monthly tax unit used to define fines, among other purposes. 183 Annual Report Enel Américas 2020 Independent Auditor’s Report Opinion The Shareholders and Directors Enel Américas S.A.: We have audited the accompanying consolidated financial statements of Enel Américas S.A. and its subsidiaries, which comprise the consolidated statement of financial position as of December 31, 2020, and the related consolidated statements of comprehensive income, changes in equity, and cash flows for the year then ended, and the related notes to the consolidated financial statements. Management’s responsibility for the consolidated financial statements Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with International Financial Reporting Standards (IFRS); this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement, whether due to fraud or error. Auditor’s responsibility Our responsibility is to express an opinion on these consolidated financial statements based on our audit. We conducted our audit of the consolidated financial statements as of and for the year ended December 31, 2020 in accordance with Auditing Standards Generally Accepted in Chile. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the consolidated financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of Enel Américas S.A. and its subsidiaries as of December 31, 2020 , and the results of their operations and their cash flows for year then ended, in accordance with the International Financial Reporting Standards (IFRS). Other matters - Comparative consolidated financial statements as of December 31, 2019 and 2018 The consolidated financial statements of Enel Américas S.A. and its Subsidiaries as of December 31, 2019 and 2018 and for the years then ended were audited by other auditors, who issued an unmodified opinion thereon in their report dated February 26, 2020. Nolberto Pezzati Santiago, February 25, 2021 KPMG SpA © 2021 KPMG Auditores Consultores SpA, a Chilean joint-stock company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. © 2021 KPMG Auditores Consultores SpA, a Chilean joint-stock company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. 184184 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationOpinion In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of Enel Américas S.A. and its subsidiaries as of December 31, 2020 , and the results of their operations and their cash flows for year then ended, in accordance with the International Financial Reporting Standards (IFRS). Other matters - Comparative consolidated financial statements as of December 31, 2019 and 2018 The consolidated financial statements of Enel Américas S.A. and its Subsidiaries as of December 31, 2019 and 2018 and for the years then ended were audited by other auditors, who issued an unmodified opinion thereon in their report dated February 26, 2020. Nolberto Pezzati Santiago, February 25, 2021 KPMG SpA © 2021 KPMG Auditores Consultores SpA, a Chilean joint-stock company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. 185 Annual Report Enel Américas 2020Consolidated Statements of Financial Position, Classified As of December 31, 2020 and 2019 Note 12-31-2020 12-31-2019 7 8 9 10 11 12 13 1,506,993 230,279 560,786 3,234,935 46,950 471,433 127,880 1,938,997 120,383 486,162 3,504,457 16,369 396,239 107,321 6,179,256 6,569,928 - - 11,326 11,326 6,179,256 6,581,254 2,790,863 2,332,856 578,524 32 2,273 4,524,826 945,512 8,354,672 7,942 222,420 994,382 3,049,811 2,735,890 587,957 847 1,978 5,527,879 1,173,043 8,763,438 10,254 255,799 1,088,234 20,754,302 23,195,130 26,933,558 29,776,384 IN THOUSANDS OF U.S. DOLLARS – THUS$ ASSETS CURRENT ASSETS Cash and cash equivalents Other current financial assets Other current non-financial assets Trade and other receivables, current Current accounts receivable from related parties Inventories Current tax assets Total current assets other than assets or groups of assets for disposal classified as held for sale or as held for distribution to owners Non-current assets or disposal groups held for sale or for distribution to owners 5.1 Non-current assets or disposal groups held for sale or for distribution to owners TOTAL CURRENT ASSETS NON-CURRENT ASSETS Other non-current financial assets Other non-current non-financial assets Trade and other non-current receivables Non-current accounts receivable from related parties Investments accounted for using the equity method Intangible assets other than goodwill Goodwill Property, plant and equipment Investment property Right-of-use assets Deferred tax assets TOTAL NON-CURRENT ASSETS TOTAL ASSETS 8 9 10 11 14 15 16 17 18 19 The accompanying notes form an integral part of these consolidated financial statements 186186 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationIN THOUSANDS OF U.S. DOLLARS – THUS$ LIABILITIES AND EQUITY CURRENT LIABILITIES Other current financial liabilities Current lease liabilities Trade and other payables, current Current accounts payable to related parties Other current provisions Current tax liabilities Other current non-financial liabilities Total current liabilities other than those associated with groups of assets for disposal classified as held for sale or as held for distribution to owners Non-current liabilities associated with disposal groups held for sale or for distribution to owners Non-current liabilities associated with disposal groups held for sale or for distribution to owners TOTAL CURRENT LIABILITIES NON-CURRENT LIABILITIES Other non-current financial liabilities Non-current lease liabilities Trade payables, non-current Non-current accounts payable to related parties Other long-term provisions Deferred tax liabilities Non-current provisions for employee benefits Other non-current non-financial liabilities TOTAL NON-CURRENT LIABILITIES TOTAL LIABILITIES EQUITY Share and paid-in capital Retained earnings Other reserves Equity attributable to shareholders of Enel Américas Non-controlling interests TOTAL EQUITY TOTAL LIABILITIES AND EQUITY Note 12-31-2020 12-31-2019 20 21 24 11 25 13 9 5.1 20 21 24 11 25 19 26 9 27.1.1 27.5 27.6 1,825,130 51,495 4,093,576 597,122 220,425 222,870 266,604 1,408,407 81,644 3,920,045 494,511 286,052 220,727 320,755 7,277,222 6,732,141 - - 3,791 3,791 7,277,222 6,735,932 3,837,706 91,070 2,061,475 144,391 833,900 612,953 1,624,217 116,961 4,781,833 108,625 2,335,997 - 976,327 643,854 1,836,362 111,268 9,322,673 10,794,266 16,599,895 17,530,198 9,763,078 5,415,698 (7,072,917) 8,105,859 2,227,804 9,783,875 5,474,411 (5,291,999) 9,966,287 2,279,899 10,333,663 12,246,186 26,933,558 29,776,384 The accompanying notes form an integral part of these consolidated financial statements 187 Annual Report Enel Américas 2020Consolidated Statements of Comprehensive Income, by Nature For the years ended December 31, 2020, 2019 and 2018 IN THOUSANDS OF U.S. DOLLARS – THUS$ CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Profit (loss) Revenue Other income, by nature Revenues and Other income, by nature Raw materials and consumables used Contribution Margin Other work performed by the entity and capitalized Employee benefits expenses Depreciation and amortization expense Impairment (loss) reversal recognized in profit or loss Impairment (loss) impairment gain and reversal of impairment loss determined in accordance with IFRS 9 Other expense, by nature Operating Income Other gains (losses) Finance income Finance costs Share of profit (loss) of associates and joint ventures accounted for using the equity method Foreign currency translation differences Gains (losses) from indexed assets and liabilities Profit (loss) before taxes Income tax expense PROFIT (LOSS) Profit (loss) attributable to Note 28 28 2020 MUS$ 11.238.976 953.698 2019 MUS$ 13.053.376 1.260.736 2018 MUS$ 11.924.761 1.064.928 12.192.674 14.314.112 12.989.689 29 30 31 31 31 32 33 33 14 33 33 19 (7.555.915) 4.636.759 (8.541.023) 5.773.089 (7.948.400) 5.041.289 147.151 (565.046) (858.099) - (242.372) (1.065.278) 2.053.115 4.671 321.477 (768.453) 3.133 57.171 76.698 1.747.812 (566.560) 1.181.252 825.197 356.055 1.181.252 181.565 (809.753) (948.330) 2.126 (279.125) (1.150.709) 2.768.863 14.196 449.661 (1.088.631) 583 136.960 124.477 177.997 (840.493) (862.440) 61.753 (122.501) (1.021.085) 2.434.520 681 358.081 (1.071.759) 2.452 110.635 270.380 2.406.109 2.104.990 (236.346) (437.932) 2.169.763 1.667.058 1.614.085 555.678 2.169.763 - 1.201.381 465.677 1.667.058 Profit (loss) attributable to owners of the parent Profit (loss) attributable to non-controlling interests 27.6 Profit (loss) Basic earnings per share Basic earnings (losses) per share US$ / Share 0,01085 0,02465 0,02091 Weighted average number of outstanding shares 76.086.311.036 65.480.640.658 57.452.641.516 Diluted earnings per share Diluted earnings (losses) per share US$ / Share 0,01085 0,02465 0,02091 Weighted average number of outstanding shares 76.086.311.036 65.480.640.658 57.452.641.516 The accompanying notes form an integral part of these consolidated financial statements 188188 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information Consolidated Statements of Comprehensive Income, by Nature For the years ended December 31, 2020, 2019 and 2018 IN THOUSANDS OF U.S. DOLLARS – THUS$ CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Note 2020 2019 2018 Gains (losses) 1.181.252 2.169.763 1.667.058 Components of other comprehensive income that will not be reclassified subsequently to profit or loss before taxes Profit (loss) from defined benefit plans 26 (476.805) (576.143) (177.527) Other comprehensive income that will not be reclassified subsequently to profit or loss (476.805) (576.143) (177.527) Components of other comprehensive income that will be reclassified subsequently to profit or loss before taxes Gains (losses) from foreign currency translation difference 2.9 (2.249.915) (765.005) (1.575.134) Gains (losses) from measuring financial assets at fair value through other comprehensive income Gains (losses) from cash flow hedges Adjustments from reclassification of cash flow hedges, transferred to profit or loss (10) (15.547) (598) 6.100 (458) (5.763) 2.571 (194) 3.036 Other comprehensive income that will be reclassified subsequently to profit or loss (2.262.901) (759.697) (1.578.319) Total components of other comprehensive income (loss) before taxes (2.739.706) (1.335.840) (1.755.846) Income tax related to components of other comprehensive income that will not be reclassified subsequently to profit or loss Income tax related to defined benefit plans 161.766 195.098 59.684 Income tax related to components of other comprehensive income that will not be reclassified subsequently to profit or loss 161.766 195.098 59.684 Income tax related to components of other comprehensive income that will be reclassified subsequently to profit or loss Income tax related to cash flow hedge 5.038 (2.165) 1.354 Income tax related to components of other comprehensive income that will be reclassified subsequently to profit or loss 5.038 (2.165) 1.354 Total Other Comprehensive Income (Loss) (2.572.902) (1.142.907) (1.694.808) TOTAL OTHER COMPREHENSIVE INCOME (LOSS) (1.391.650) 1.026.856 (27.750) Comprehensive income (loss) attributable to: Owners of Enel Américas Non-controlling interests TOTAL COMPREHENSIVE INCOME (LOSS) (1.521.532) 129.882 623.512 403.344 (1.391.650) 1.026.856 (121.326) 93.576 (27.750) The accompanying notes form an integral part of these consolidated financial statements 189 Annual Report Enel Américas 2020Consolidated Statements of Changes in Equity For the years ended December 31, 2020, 2019 and 2018 IN THOUSANDS OF U.S. DOLLARS – THUS$ Changes in Other Reserves Changes in Other Reserves Share and paid-in capital Reserve for Exchange Differences in Translation Reserves for Cash Flow Hedges Reserve for Gains and Losses for Defined Benefit Plans 6.763.204 (453.995) Consolidated Statement of Changes in Equity Equity at beginning of period 1/1/2018 Increase (decrease) due to changes in accounting policies (1) - - Equity at beginning of period 1/1/2018 (As Restated) 6.763.204 (453.995) Changes in equity Comprehensive income: Profit (loss) Other comprehensive income (loss) Comprehensive income Dividends Increase (decrease) due to other changes Total changes in equity Equity at end of period 12/31/2018 Changes in equity Comprehensive income: Profit (loss) Other comprehensive income (loss) Comprehensive income Share issuance Dividends Increase (decrease) due to other changes Total changes in equity Equity at end of period 12/31/2019 Changes in equity Comprehensive income: Profit (loss) Other comprehensive income (loss) Comprehensive income Dividends Increase (decrease) due to other changes Total changes in equity Equity at end of period 12/31/2020 - - - - - - 6.763.204 - - - 3.020.671 - - - (1.212.114) - - - (1.212.114) (1.666.109) - (617.046) - - - - 3.020.671 9.783.875 (617.046) (2.283.155) - - - - (20.797) (20.797) 9.763.078 - (2.025.141) - - - (2.025.141) (4.308.296) (3.472) - (3.472) - (1.622) - - - (1.622) (5.094) - 3.760 - - - - 3.760 (1.334) - (8.049) - - - (8.049) (9.383) - - - - (108.749) - - 108.749 - - - (376.997) - - - 376.997 - - - (313.534) - - 313.534 - - (1) Considers a debit to retained earnings of ThUS$ 5,804 due to the application of IFRS 9, a debit to retained earnings of ThUS$ 1,272 due to the application of IFRS 15, and a credit to retained earnings of ThUS$ 961,107 due to the application of IAS 29. The accompanying notes form an integral part of these consolidated financial statements 190190 Other Comprehensive Miscellaneous Income Reserves Total other reserves (3.408.922) (3.866.564) (3.408.922) (3.866.564) to Owners of Non-Controlling Interests 1.798.036 286.583 2.084.619 Total Equity 8.278.507 954.030 9.232.537 (1.322.707) 199.639 199.639 (3.209.283) 308.388 (1.014.319) (4.880.883) 4.841.687 6.724.008 2.107.892 Reserve for Gains and Losses on measuring Financial Asset at Fair Value of Other (175) - (175) (222) (222) (397) - - - - - - - - - (290) (687) - (5) - - - (5) Equity Attributable Enel Américas 6.480.471 667.447 7.147.918 1.201.381 (1.322.707) (121.326) (502.223) 199.639 (423.910) 1.614.085 (990.573) 623.512 3.020.671 (604.364) 202.460 3.242.279 9.966.287 825.197 (2.346.729) (1.521.532) (570.376) 231.480 (1.860.428) 8.105.859 Retained Earnings 3.583.831 667.447 4.251.278 1.201.381 (502.223) (108.749) 590.409 1.614.085 (604.364) (376.997) 632.724 - - - - - - - 825.197 (570.376) (313.534) (58.713) 5.415.698 - - - - - - - - - - - (290) (990.573) 202.460 202.460 579.457 (411.116) (3.006.823) (5.291.999) 5.474.411 252.277 252.277 (692) (2.754.546) (2.346.729) 565.811 (1.780.918) (7.072.917) - - - - - - - - - - - - - 465.677 (372.101) 93.576 (255.242) 184.939 23.273 555.678 (152.334) 403.344 - (289.052) 57.715 172.007 2.279.899 1.667.058 (1.694.808) (27.750) (757.465) 384.578 (400.637) 8.831.900 2.169.763 (1.142.907) 1.026.856 3.020.671 (893.416) 260.175 3.414.286 12.246.186 356.055 (226.173) 129.882 (306.309) 124.332 (52.095) 1.181.252 (2.572.902) (1.391.650) (876.685) 355.812 (1.912.523) 2.227.804 10.333.663 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationIN THOUSANDS OF U.S. DOLLARS – THUS$ Changes in Other Reserves Changes in Other Reserves Consolidated Statement of Changes in Equity Equity at beginning of period 1/1/2018 Increase (decrease) due to changes in accounting policies (1) Equity at beginning of period 1/1/2018 (As Restated) 6.763.204 (453.995) (3.472) Reserve for Exchange Reserve for Gains Reserves for and Losses for Share and Differences in Cash Flow Defined Benefit paid-in capital 6.763.204 Translation (453.995) Hedges (3.472) Plans Changes in equity Comprehensive income: Profit (loss) Other comprehensive income (loss) Comprehensive income Dividends Increase (decrease) due to other changes Total changes in equity Equity at end of period 12/31/2018 Changes in equity Comprehensive income: Profit (loss) Other comprehensive income (loss) Comprehensive income Share issuance Dividends Increase (decrease) due to other changes Total changes in equity Equity at end of period 12/31/2019 Changes in equity Comprehensive income: Profit (loss) Other comprehensive income (loss) Comprehensive income Dividends Increase (decrease) due to other changes Total changes in equity Equity at end of period 12/31/2020 - - - - - - - - - - - - - - - - (1.212.114) (1.622) (108.749) 6.763.204 (1.212.114) (1.666.109) (1.622) (5.094) (617.046) 3.760 (376.997) 3.020.671 3.020.671 9.783.875 (617.046) (2.283.155) 3.760 (1.334) (2.025.141) (8.049) (313.534) (20.797) (20.797) 9.763.078 (2.025.141) (4.308.296) (8.049) (9.383) 313.534 108.749 376.997 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Reserve for Gains and Losses on measuring Financial Asset at Fair Value of Other Comprehensive Income (175) - (175) - (222) - - - (222) (397) - (290) - - - - (290) (687) - (5) - - - (5) Other Miscellaneous Reserves Total other reserves (3.408.922) (3.866.564) - - (3.408.922) (3.866.564) Equity Attributable to Owners of Enel Américas 6.480.471 667.447 7.147.918 Non-Controlling Interests 1.798.036 286.583 2.084.619 Retained Earnings 3.583.831 667.447 4.251.278 - 1.201.381 1.201.381 (1.322.707) (121.326) (502.223) 199.639 (423.910) 465.677 (372.101) 93.576 (255.242) 184.939 23.273 4.841.687 6.724.008 2.107.892 - - - 199.639 199.639 (3.209.283) - - - - - (1.322.707) - - 308.388 (1.014.319) (4.880.883) (990.573) - - - - - (502.223) (108.749) 590.409 - - - (604.364) (376.997) 632.724 - 1.614.085 202.460 202.460 579.457 (411.116) (3.006.823) (5.291.999) 5.474.411 Total Equity 8.278.507 954.030 9.232.537 1.667.058 (1.694.808) (27.750) (757.465) 384.578 (400.637) 8.831.900 2.169.763 (1.142.907) 1.026.856 3.020.671 (893.416) 260.175 3.414.286 12.246.186 - - - - 252.277 252.277 - 825.197 (2.346.729) - - 565.811 (1.780.918) (7.072.917) - - (570.376) (313.534) (58.713) 5.415.698 (692) (2.754.546) 555.678 (152.334) 403.344 - (289.052) 57.715 172.007 2.279.899 1.614.085 (990.573) 623.512 3.020.671 (604.364) 202.460 3.242.279 9.966.287 825.197 (2.346.729) (1.521.532) (570.376) 231.480 (1.860.428) 8.105.859 356.055 (226.173) 129.882 (306.309) 124.332 (52.095) 1.181.252 (2.572.902) (1.391.650) (876.685) 355.812 (1.912.523) 2.227.804 10.333.663 191 Annual Report Enel Américas 2020Consolidated Statements of Cash Flows, Direct Method For the years ended December 31, 2020, 2019 and 2018 Cash flows from (used in) operating activities Types of collection from operating activities Collections from the sale of goods and services Collections from royalties, payments, commissions, and other revenue Collections from premiums and services, annual payments, and other benefits from policies held Other collections from operating activities Payments to suppliers for goods and services Payments to and on behalf of employees Payments of premiums and services, annual payments, and other obligations from policies held 14.770.122 18.408.759 16.445.981 36.171 38.223 48.659 28.364 1.269.911 26.940 828.859 48.028 752.842 (8.185.560) (9.343.478) (8.597.388) (731.887) (867.683) (786.892) (13.014) (11.723) (11.345) Other payments for operating activities 7.c (4.013.788) (5.723.433) (5.227.832) Interests paid (4.675) (8.343) - Cash flows from (used in) operating activities Income taxes paid Other cash inflows (outflows) (527.952) (202.182) (561.805) (258.805) (593.948) (233.540) Net cash flows from (used in) operating activities 2.425.510 2.527.511 1.844.565 Cash flows from (used in) investing activities Cash flows used to obtain control of subsidiaries or other businesses Cash flows used in the purchase of non-controlling interests Other collections from the sale of equity or debt instruments belonging to other entities Other payments to acquire equity or debt instruments of other entities Proceeds from the sale of property, plant and equipment Purchases of property, plant and equipment Purchases of intangible assets Payments from future, forward, option and swap contracts Collections from future, forward, option and swap contracts Dividends received Interest received Other cash inflows (outflows) - - - (1.590.435) (97.517) - 176.383 (215.626) 284.939 (245.390) - - (813.827) (739.664) (5.070) 21.037 2.120 43.400 (4.369) (891.599) (767.291) (3.909) 14.981 1.521 111.730 (7.263) 294.562 (335.668) 1.000 (750.435) (790.184) (3.079) 14.003 1.524 99.648 (10.125) Net cash flows from (used in) investing activities (1.535.616) (1.599.798) (3.069.189) Cash flows from (used in) financing activities Proceeds from issuance of shares 27.1.1 - 2.999.874 - 192192 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationIN THOUSANDS OF U.S. DOLLARS – THUS$ Total proceeds from loans Proceeds from long-term loans Proceeds from short-term loans Loans from related parties Payment of borrowings Payment of lease liabilities Payment of loans to related parties Dividends paid Interest paid Other cash inflows (outflows) 2020 2019 2018 7.d 1.646.135 4.898.823 4.538.165 437.284 1.208.851 295.299 1.164.306 3.734.517 2.836.717 1.701.448 - 2.686.387 (1.775.865) (4.782.344) (4.301.358) (77.292) (59.177) (31.619) - (2.662.433) - (1.057.692) (326.703) 109.583 (723.983) (614.599) 120.935 (591.958) (439.552) 7.001 7.d 7.d 7.d 7.d 7.d 7.d Net cash flows from (used in) financing activities (1.186.535) (822.904) 1.867.066 Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes (296.641) 104.809 642.442 Effect of exchange rate changes on cash and cash equivalents Effect of exchange rate changes on cash and cash equivalents (135.363) (70.097) (210.920) Net increase (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period 7 7 (432.004) 1.938.997 34.712 1.904.285 431.522 1.472.763 1.506.993 1.938.997 1.904.285 The accompanying notes form an integral part of these consolidated financial statements 193 Annual Report Enel Américas 2020Content 1. GENERAL INFORMATION 2. BASIS OF PRESENTATION OF THE CONSOLIDATED FINANCIAL STATEMENTS 2.1 Accounting principles 2.2 New accounting pronouncements 2.3 Responsibility for the information, judgments and estimates provided 2.4 Subsidiaries 2.4.1 Changes in the scope of consolidation 2.4.2 Consolidated companies with an economic equity interest of less than 50% Investments in associates Joint arrangements Basis of consolidation and business combinations Functional Currency 2.5 2.6 2.7 2.8 2.9 Conversion of financial statements denominated in foreign currency 3. ACCOUNTING POLICIES a) b) c) d) e) f) g) h) i) j) k) l) m) n) o) p) q) r) s) t) u) Financial assets other than derivatives Impairment of financial assets Financial liabilities other than derivatives Property, plant and equipment Investment property Goodwill Intangible assets other than goodwill d.1) Concessions d.2) Research & development expenses d.3) Other intangible assets Impairment of non-financial assets Leases f.1) Lessee f.2) Lessor Financial instruments g.1) g.2) Cash and cash equivalents g.3) g.4) g.5) Derivative financial instruments and hedge accounting g.6) Derecognition of financial assets and liabilities g.7) Offsetting of financial assets and financial liabilities g.8) Fair value measurement Investments accounted for using the equity method Inventories Non-current assets (or disposal groups of assets) held for sale or held for distribution to owners and discontinued operations Treasury shares Provisions m.1) Provisions for post-employment benefits and similar obligations Translation of balances in foreign currency Classification of balances as current or non-current Income taxes Revenue and expense recognition Earnings per share Dividends Share issuance costs Statement of cash flows Financial guarantee contracts 4. SECTOR REGULATION AND ELECTRICITY SYSTEM OPERATIONS i. ii. iii. Regulatory Framework: Limits on integration and concentration Unregulated customers market 5. NON-CURRENT ASSETS OR DISPOSAL GROUPS HELD FOR SALE OR HELD FOR DISTRIBUTION TO OWNERS AND DISCONTINUED OPERATIONS 6. BUSINESS COMBINATION 7. CASH AND CASH EQUIVALENTS 8. OTHER FINANCIAL ASSETS 9. OTHER NON-FINANCIAL ASSETS AND LIABILITIES 10. TRADE AND OTHER RECEIVABLES 11. BALANCES AND TRANSACTIONS WITH RELATED PARTIES 11.1 Balances and transactions with related parties a) b) c) d) Receivables from related companies Accounts payable to related companies Significant transactions and effects on profit or loss: Significant transactions Enel Américas: 11.2 Board of directors and key management personnel a) b) Remunerations received by key management personnel Guarantees established by the Company in favor of key management personnel. 194194 196 197 197 197 202 203 204 204 205 205 205 207 207 208 208 210 211 211 211 212 212 213 214 215 215 216 216 217 217 218 218 219 220 220 220 221 222 222 223 223 223 224 224 225 225 227 227 227 228 228 228 246 247 248 249 251 252 253 255 258 258 258 259 260 260 261 261 262 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information INVENTORIES 12. 13. CURRENT TAX ASSETS AND LIABILITIES 14. INVESTMENTS ACCOUNTED FOR USING THE EQUITY METHOD 14.1 Investments accounted for using the equity method INTANGIBLE ASSETS OTHER THAN GOODWILL 15. 16. GOODWILL 17. PROPERTY, PLANT AND EQUIPMENT 18. RIGHT-OF-USE ASSETS 19. INCOME TAX AND DEFERRED TAXES a) b) Income taxes Deferred taxes 20. OTHER FINANCIAL LIABILITIES a) b) c) d) e) f) Interest-bearing borrowings. Unsecured bonds Secured bonds Hedged debt. Other information. Future undiscounted debt flows 21. LEASE LIABILITIES Individualization of Lease Liabilities 21.1 21.2 Undiscounted debt cash flows 22. RISK MANAGEMENT POLICY 23. FINANCIAL INSTRUMENTS 23.1 Financial instruments classified by type and category. 23.2 Derivative instruments 23.3 Fair value hierarchies 24. CURRENT AND NON-CURRENT PAYABLES 25. PROVISIONS 26. POST-EMPLOYMENT BENEFIT OBLIGATIONS 26.1 General information: 26.2 Details, changes and presentation in financial statements: 26.3 Other disclousures: 27. EQUITY 27.1 Equity attributable to the shareholders of Enel Américas. 27.2 Foreign currency translation reserves 27.3 Capital Management 27.4 Restrictions on subsidiaries transferring funds to the parent (equity note) 27.5 Other reserves 27.6 Non-controlling Interests. 28. REVENUE AND OTHER OPERATING INCOME 29. RAW MATERIALS AND CONSUMABLES USED 30. EMPLOYEE BENEFITS EXPENSE 31. DEPRECIATION, AMORTIZATION AND IMPAIRMENT LOSS OF PROPERTY, PLANT AND EQUIPMENT AND FINANCIAL ASSETS UNDER-IFRS 9 32. OTHER EXPENSE, BY NATURE 33. FINANCIAL RESULTS 34. INFORMATION BY SEGMENT 34.1 Basis of segmentation 34.2 Generation and transmission, distribution and others 34.3 Segment information by country 34.4 Generation and Transmission, and Distribution by Country 35. GUARANTEES WITH THIRD PARTIES, CONTINGENT ASSETS AND, LIABILITIES, AND OTHER COMMITMENTS Indirect guarantees 35.1 Direct guarantees 35.2 35.3 Litigation and Arbitration Proceedings 35.4 Financial restrictions 35.5 COVID-19 contingency 35.6 Other Information 36. HEADCOUNT 37. SANCTIONS 38. ENVIRONMENT 39. FINANCIAL INFORMATION ON SUBSIDIARIES, SUMMARIZED 40. SUBSEQUENT EVENTS APPENDIX 1 DETAIL OF ASSETS AND LIABILITIES IN FOREIGN CURRENCY APPENDIX 2 ADDITIONAL INFORMATION OFFICIAL BULLETIN No. 715 OF FEBRUARY 3, 2012 APPENDIX 2.1 SUPPLEMENTARY INFORMATION ON TRADE RECEIVABLES APPENDIX 2.2 ESTIMATED SALES AND PURCHASES OF CAPACITY AND TOLL APPENDIX 3 DETAIL OF DUE DATES OF PAYMENTS TO SUPPLIERS 264 264 265 265 266 268 270 272 274 274 275 278 278 282 288 290 291 291 294 296 308 308 313 313 314 317 318 319 320 320 321 325 326 326 328 328 328 329 330 331 332 332 332 333 333 335 335 337 340 344 352 352 352 354 370 373 374 376 376 380 384 386 388 390 394 398 400 195 Annual Report Enel Américas 2020 Notes to the consolidated financial statements AS OF DECEMBER 31, 2020 AND 2019 AND FOR THE YEARS ENDED DECEMBER 31, 2020, 2019 AND 2018. (In thousands of U.S. dollars – ThUS$) NOTE 1. General information Enel Américas S.A. (hereinafter “Enel Américas”, the “Company” or the “Parent Company”) and its subsidiaries comprise the Enel Américas Group (hereinafter “the Group”). The Company is a publicly traded corporation with registered address and head office located at Avenida Santa Rosa, No. 76, in Santiago, Chile. The Company is registered with the securities register of the Financial Market Commission of Chile, hereinafter “CMF”, under number 0175. In addition, the Company is registered with the Securities and Exchange Commission of the United States of America (hereinafter the “U.S. SEC”) and its shares have been listed on the New York Stock Exchange since 1993. The Company is a subsidiary of Enel S.p.A. (hereinafter “Enel”), an entity that owned a 65% interest as of December 31, 2020. The Company was initially incorporated in 1981 under the corporate name Compañía Chilena Metropolitana de Distribución Eléctrica S.A. Subsequently, on August 1, 1988 the Company became Enersis S.A., by means of an amendment to the articles of incorporation. Within the context of the reorganization process carried out by the Group, on March 1, 2016, the Company became Enersis Américas S.A. On December 1, 2016, the corporate name was changed, therefore Enersis Américas S.A. became Enel Américas S.A. For tax purposes, the Company operates under Chilean tax identification number 94.271.000-3. The Group recorded a staff of 16,731 employees as of December 31, 2020. On average, during the period 2020 the Group had 16,969 employees. For more information regarding the distribution of our employees, by category and geographic location, see Note 36. The Company’s corporate purpose consists of exploring for, developing, operating, generating, distributing, transmitting, transforming, and/or selling energy of any kind or form, whether in Chile or abroad, either directly or through other companies. It is also engaged in telecommunications activities, and it provides engineering consulting services in Chile and abroad. The Company’s corporate purpose also includes investing in, and managing, its investments in subsidiaries and associates which generate, transmit, distribute, or sell electricity, or whose corporate purpose includes any of the following: (i) (ii) (iii) (iv) Energy of any kind or form, Supplying public services, or services whose main component is energy, Telecommunications and information technology services, and Internet-based intermediation business. 196196 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationNOTE 2. Basis of Presentation of the Consolidated Financial Statements 2.1 Accounting principles The consolidated financial statements of Enel Américas as of December 31, 2020, approved by its Board of Directors at its meeting held on February 25, 2021, have been prepared in accordance with International Financial Reporting Standards (IFRS), as issued by the International Accounting Standards Board (IASB). These consolidated financial statements present fairly the financial position of Enel Américas and its subsidiaries as of December 31, 2020 and 2019, and the results of operations, changes in equity and cash flows for the years ended December 31, 2020, 2019 and 2018, and the related notes. These consolidated financial statements present on a voluntary basis the 2018 figures of the consolidated statement of comprehensive income, consolidated statement of cash flows, consolidated statement of changes in shareholders' equity, and related notes. These consolidated financial statements have been prepared under going concern assumptions on a historical cost basis except when, in accordance with IFRS, those assets and liabilities are measured at fair value. 2.2 New accounting pronouncements a) The following accounting pronouncements have been adopted by the Group effective as of January 1, 2020: Amendments and Improvements Conceptual Framework (Revised) Amendments to IFRS 3: Definition of a Business Amendments to IAS 1 and IAS 8: Definition of Material or Relative Importance Amendments to IFRS 9, IAS 39 and IFRS 7: Interest Rate Benchmark Reform (Phase 1) Mandatory application for annual periods beginning on: January 1, 2020 January 1, 2020 January 1, 2020 January 1, 2020 • Conceptual Framework (Revised) The IASB issued the Conceptual Framework (Revised) in March 2018. It incorporates some new concepts, provides updated definitions and recognition criteria for assets and liabilities and clarifies certain important matters. Revisions to the Conceptual Framework may affect the application of IFRS when no standard applies to a particular transaction or event . The IASB has also issued a separate accompanying document, "Amendments to References to the Conceptual Framework in IFRS Standards," which establishes amendments to IFRSs in order to update references to the new Conceptual Framework. The Conceptual Framework (Revised), as well as the Amendments to the References to the Conceptual Framework in IFRS, became effective beginning on January 1, 2020, with prospective application, with no impact generated in the Group’s consolidated financial statements. • Amendments to IFRS 3 Definition of a Business. IFRS 3 Business Combinations was amended by the IASB in October 2018, to clarify the definition of a business, in order to help entities determine whether a transaction should be accounted for as a business combination or as the acquisition of an asset. To be considered as a business combination, an acquired integrated set of activities and assets must include, at least, an input and a substantive process that together contribute significantly to the ability to create output. 197 Annual Report Enel Américas 2020The amendment also adds guidance and illustrative examples to assess whether a substantive process has been acquired and introduces an optional fair value concentration test. The amendment became effective beginning on January 1, 2020, with prospective application for business combinations and asset acquisitions carried out beginning on such date, with no impact generated in the consolidated financial statements of the Group. • Amendments to IAS 1 and IAS 8 Definition of Material or relative importance”. In October 2018, the IASB amended IAS 1 Presentation of Financial Statements and IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors, to improve the definition of material and the explanations accompanying the definition. The amendments ensure that the definition of material is consistent in all IFRSs. Information is material if omitting, misstating or obscuring it could reasonably be expected to influence the decisions that the primary users of general-purpose financial statements make on the basis of those financial statements, which provide financial information about a specific reporting entity. The amendments became effective beginning on January 1, 2020, with prospective application, with no impact generated in the Group’s consolidated financial statements. • Amendments to IFRS 9, IAS 39 and IFRS 7 – Interest rate benchmark reform (Phase 1). On September 26, 2019, the IASB issued amendments to IFRS 9 Financial Instruments and IAS 39 Financial Instruments: Recognition and Measurement, and IFRS 7 Financial Instruments: Disclosures, in response to the reform that gradually eliminates benchmark interest rates, such as interbank offered rates (IBORs). The amendments provide temporary relief measures which enable hedge accounting to continue during the period of uncertainty before the replacement of an existing interest rate benchmark with an alternative nearly risk-free interest rate (an RFR). These amendments became effective beginning on January 1, 2020. The amendments to IFRS 9 include a number of relief measures, which apply to all hedging relationships that are directly affected by the interest rate benchmark reform. A hedging relationship is affected if the reform gives rise to uncertainties about the timing and/or amount of benchmark-based cash flows of the hedged item or the hedging instrument. The first three relief measures provide for: - - - The assessment of whether a forecasted transaction (or component thereof) is highly probable. Assessing when to reclassify the amount in the cash flow hedge reserve to profit and loss. The assessment of the economic relationship between the hedged item and the hedging instrument. For each of these relief measures, it is assumed that the benchmark on which the hedged cash flows are based (whether or not contractually specified) and/or, for the third reliefmeasure , the benchmark on which the cash flows of the hedging instrument are based, are not altered as a result of the reform. A fourth relief measure provides that, for a benchmark component of interest rate risk that is affected by the reform, the requirement that the risk component is separately identifiable need be met only at the inception of the hedging relationship. The exceptions will continue to be applied indefinitely in the absence of any of the events described in the amendments. Upon the designation of a group of items as a hedged item or a combination of financial instruments, as a hedging instrument, the exceptions will cease being applied separately to each individual item or financial instrument, when there is no longer uncertainty arising from the interest rate benchmark reform. The application of these amendments has not had an impact on the Group’s consolidated financial statements, as there are currently no hedging relationships that are directly affected by the interest rate benchmark reform. 198198 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information b) Accounting pronouncements applicable beginning on January 1, 2021 and thereafter: As of the date of issuance of these consolidated financial statements, the following accounting pronouncements had been issued by the IASB, but their application was not mandatory: Amendments and Improvements Amendments to IFRS 16: COVID-19-Related Rent Concessions Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16: Interest Rate Benchmark Reform – Phase 2 Amendments to IFRS 3: References to the Conceptual Framework Amendments to IAS 16: Proceeds before Intended Use Amendments to IAS 37: Onerous Contracts – Cost of Fulfilling a Contract Annual improvements to IFRS: 2018-2020 Cycle - IFRS 1: First-time Adoption of IFRS - IFRS 9: Financial Instruments - Amendment to Illustrative Examples accompanying IFRS 16 - IAS 41: Agriculture Mandatory application for annual periods beginning on: June 1, 2020 January 1, 2021 January 1, 2022 January 1, 2022 January 1, 2022 January 1, 2022 Amendments to IAS 1: Classification of Liabilities as Current or Non-current January 1, 2023 • Amendments to IFRS 16: “COVID-19-Related Rent Concessions” As a result of the COVID-19 pandemic, lessees in many countries have been granted rent payment concessions, such as grace periods and delaying of lease payments for a period of time, sometimes followed by an increase in the payment in future periods. Within this context, on May 28, 2020, the IASB issued amendments to IFRS 16: Leases, in order to provide a practical expedient for lessees, through which they can opt for not evaluating whether the rent concessions is a modification of the lease. Lessees that elect this option, will account for such rent concessions as a variable payment. The practical expedient is only applicable to rent concessions that occur as a direct consequence of the COVID-19 pandemic and only if they comply with all the following conditions: i) the change in lease payments is the product of a revised lease payment that is substantially the same, or less than the lease payment immediately before the change; ii) iii) any reduction in lease payments affects only the payments originally due up to June 30, 2021; and there is no substantial change in the other terms and conditions of the lease. The amendments are applicable to annual periods beginning on June 1, 2020. Early application is permitted. These amendments must be applied retroactively, recognizing the accumulated effect from initial application as an adjustment in the beginning balance of retained earnings (or other equity component, as applicable) at the beginning of the annual period in which the amendment is applied for the first time. Management is evaluating the potential impact of the application of these amendments on the Group’s consolidated financial statements. • Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16: Interest Rate Benchmark Reform (Phase 2) On August 27, 2020, the IASB issued the Interest Rate Benchmark Reform (Phase 2) which supplements the amendments to IFRS 9, IAS 39 and IFRS 7 issued in 2019, and additionally incorporates amendments to IFRS 4 and IFRS 16. This final phase of the project focuses on the effects on the financial statements when a company replaces the previous interest rate benchmark with an alternative interest rate benchmark as a result of the reform. The amendments refer to: - Changes in contractual cash flows: a company will not have to derecognize accounts or adjust the carrying amounts of financial instruments due to changes required by the reform, but rather will update the effective interest rate to reflect the change in the alternative interest rate benchmark; 199 Annual Report Enel Américas 2020 - Hedge accounting: a company will not have to discontinue its hedge accounting solely because it makes the changes required by the reform, if the hedge complies with other hedge accounting criteria; and - Disclosures: a company will be required to disclose information about new risks that arise from the reform and how it manages the transition to alternative interest rate benchmarks. These amendments are effective for annual periods beginning on January 1, 2021, and early adoption is permitted. The amendments are applicable retroactively, with certain exceptions. Management is evaluating the potential impact of the application of these amendments on the Group’s consolidated financial statements. • Amendments to IFRS 3: "References to the Conceptual Framework". On May 14, 2020, the IASB issued a package of limited-scope amendments, including amendments to IFRS 3: Business Combinations. The amendments update references to the Conceptual Framework issued in 2018, in order to determine an asset or a liability in a business combination. In addition, the IASB added a new exception to IFRS 3 for liabilities and contingent liabilities, which specifies that, for certain types of liabilities and contingent liabilities, an entity that applies IFRS 3 must refer to IAS 37 “Provisions, Contingent Liabilities and Contingent Assets”, or IFRIC 21: “Levies”, instead of the 2018 Conceptual Framework. Without this exception, an entity would have recognized certain liabilities in a business combination that would not be recognized in accordance with IAS 37. The amendments are applicable prospectively to business combinations with acquisition dates beginning on the first annual period beginning on January 1, 2022. Early application is permitted. Management is evaluating the potential impact of the application of these amendments on the Group’s consolidated financial statements. • Amendments to IAS 16: “Proceeds before Intended Use” As part of the package of limited-scope amendments issued in May 2020, the IASB issued amendments to IAS 16 Property, Plant and Equipment, which prohibit a company from deducting from the cost of property, plant and equipment amounts received from selling items produced while the company is preparing the asset for its intended use. Instead, the company will recognize such sales proceeds and related costs in profit or loss for the period. The amendments also clarify that an entity is “testing whether an asset operates correctly” when it evaluates the technical and physical performance of the asset. These amendments are applicable to annual reporting periods beginning on January 1, 2022. Early application is permitted. The amendments will be applied retroactively, but only from the beginning of the first period presented in the financial statements in which the entity applies the amendments for the first time. The accumulated effect of initial application of the amendments will be recognized as an adjustment to the opening balance of retained earnings (or other equity components as applicable) at the beginning of the first reported period. Management is evaluating the potential impact of the application of these amendments on the Group’s consolidated financial statements. • Amendments to IAS 37: “Onerous Contracts: Cost of Fulfilling a Contract” The third standard amended by the IASB in the package of limited-scope amendments issued in May 2020 was IAS 37 Provisions, Contingent Liabilities and Contingent Assets. The amendments specify which costs a company should include when evaluating whether a contract is onerous. In this sense, the amendments clarify that the direct cost of fulfilling a contract comprises both the incremental costs of fulfilling this contract (for example, direct labor and materials), as well as the allocation of other costs that are directly related to compliance with the contracts (for example, an allocation of the depreciation charge for an item of property, plant and equipment used to fulfill the contract). These amendments are applicable for reported annual periods beginning as of January 1, 2022. Early application is allowed. Companies must apply these amendments to contracts for which all obligations have still not been fulfilled at the beginning of the reported annual period in which the amendments are applied for the first time. They do not require restatement of 200200 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Informationcomparative information. The accumulated effect of initially applying the amendments will be recognized as an adjustment to the opening balance of retained earnings (or another equity component as applicable) on the date of initial application. Management is evaluating the potential impact of the application of these amendments on the Group’s consolidated financial statements. • Annual Improvements to IFRS: 2018-2020 Cycle On May 14, 2020, the IASB issued a number of minor amendments to IFRSs, in order to clarify or correct minor issues or overcome possible inconsistencies in the requirements of certain standards. The amendments with potential impact on the Group are the following: • IFRS 9 Financial Instruments: clarifies that for the purpose of the 10% test for derecognition of financial liabilities, when determining commissions paid net of commissions received, the borrower must only consider the commissions paid or received between the borrower and the lender. These improvements are applicable to reported annual periods beginning on January 1, 2022. Early application is allowed. Entities must apply these amendments to financial liabilities that are modified or exchanged at the beginning of the reported annual period, in which the amendments are applied for the first time. • Examples that accompany IFRS 16 Leases: amendment of illustrative example 13, in order to eliminate a possible confusion regarding the treatment of lease incentives. The example included as part of its background information, a reimbursement from the lessor to the lessee, related to leasehold improvements. Since the example was not sufficiently clear as to whether the reimbursement complied with the definition of a lease incentive, the IASB decided to eliminate from the illustrative example any reference to this reimbursement, thus avoiding any possibility of confusion. Management believes that the application of these improvements will not generate an impact on the consolidated financial statements of the Group. • Amendments to IAS 1: “Classification of Liabilities as Current and Non-Current” On January 23, 2020, the IASB issued limited-scope amendments to IAS 1: Presentation of Financial Statements, in order to clarify how to classify debt and other liabilities as current or non-current. The amendments clarify that a liability is classified as non-current if the entity has, at the end of the reporting period, the substantial right to defer settlement of the liability during at least 12 months. The classification is not affected by the expectations of the entity or by events after the reporting date. The amendments include clarification of the classification requirements for debt that a company could settle converting it to equity. The amendments only affect the presentation of liabilities as current and non-current in the statement of financial position, not the amount and timing of their recognition, or the related disclosures. However, they could lead to companies reclassifying certain current liabilities to non-current and vice versa. This could affect compliance with covenants in the debt agreements of companies. These amendments are applicable retroactively beginning on January 1, 2023. In response to the COVID-19 pandemic, in July 2020 the IASB extended its mandatory effective date established initially for January 1, 2022, by a year in order to provide companies more time to implement any change in classification resulting from these amendments. Early application is permitted. Management is evaluating the potential impact of the application of these amendments on the Group’s consolidated financial statements. 201 Annual Report Enel Américas 2020 2.3 Responsibility for the information, judgments and estimates provided The Company’s Board of Directors is responsible for the information contained in these consolidated financial statements and expressly states that all IFRS principles and standards have been fully implemented. In preparing the consolidated financial statements, certain judgments and estimates made by the Group’s management have been used to quantify some of the assets, liabilities, revenue, expenses and commitments recognized. The most significant areas where critical judgment was required are: - In a service concession agreement, determination of whether a grantor controls or regulates what services the operator must provide, to whom and at what price, are critical factors for the application of IFRIC 12 Service Concession Arrangements (see Note 3.d.1). - - - - The identification of Cash Generating Units (CGU) for impairment testing (see Note 3.e). The hierarchy of information used to measure assets and liabilities at fair value (see Note 3.h). The determination of the Group’s functional currency (see Note 2.8). Application of the revenue recognition model in accordance with IFRS 15 (see Note 3.q). The estimates refer basically to: - - - - - - - - - - - - The valuations performed to determine the existence of impairment losses in assets and goodwill (see Note 3.e). The assumptions used to calculate the actuarial liabilities and obligations with employees, such as discount rates, mortality tables, salary increases, etc. (see Notes 3.m.1 and 26). The useful lives of property, plant and equipment and intangible assets (see Notes 3.a and 3.d). The assumptions used to calculate the fair value of financial instruments (see Notes 3.h and 23). The energy supplied to customer whose meters have not yet been read (see Note 3.q). Certain assumptions inherent in the electricity system affecting transactions with other companies, such as production, customer billings, energy consumption, that allow for estimation of electricity system settlements that occur on the corresponding final settlement dates, but that are pending as of the date of issuance of the consolidated financial statements and could affect the balances of assets, liabilities, income and expenses recognized in the financial statements (see Appendix 2.2). The probability that uncertain or contingent liabilities will be incurred and their related amounts (see Note 3.m). Future disbursements for closure of facilities and restoration of land, as well as associated discount rates to be used (see Note 3.a). The tax results of the different Group subsidiaries that will be reported to the respective tax authorities in the future, and other estimates have been used as a basis for recording the different income tax related balances in these consolidated financial statements (see Note 3.p). The fair value of assets acquired, and liabilities assumed, and any pre-existing interest in an entity acquired in a business combination. Determination of expected credit losses on financial assets (see Note 3.g.3). Determination of the lease term of contracts with renewal options, as well as the rates to be used to discount lease payments (see Note 3.f). In relation to the COVID-19 pandemic, the degree of uncertainty generated in the macroeconomic and financial environment in which the Group operates, could affect the valuations and estimates made by Management to determine the carrying amounts of the more volatile assets and liabilities. As of December 30, 2020, according to the information available and considering a scenario in constant evolution, the main areas that required Management to use their judgment and make estimates were the following: i) measurement of expected credit losses on financial assets; ii) determination of impairment losses on non-financial assets; and iii) measurement of employee benefits, including actuarial assumptions. Although these judgments and estimates have been based on the best information available as of the date of issuance of these consolidated financial statements, future events may occur that would require a change (increase or decrease) to these 202202 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Informationjudgments and estimates in subsequent periods. This change would be made prospectively, recognizing the effects of this change in judgment or estimation in the related future consolidated financial statements. 2.4 Subsidiaries Subsidiaries are defined as those entities controlled either, directly or indirectly by Enel Américas. Control is exercised if and only if the following conditions are met: the Company has i) power over the subsidiary; ii) exposure, or rights to variable returns from these entities; and iii) the ability to use its power to influence the amount of these returns. Enel Américas has power over its subsidiaries when it holds the majority of the substantive voting rights or, should that not be the case, when it has rights granting the practical ability to direct the entities’ relevant activities; i.e., the activities that significantly affect the returns from the subsidiary. The Group will reassess whether or not it controls a subsidiary if facts and circumstances indicate that there are changes to one or more of the control elements listed above. Subsidiaries are consolidated as described in Note 2.7. The entities in which the Group has the ability to exercise control and consequently are included in consolidation in these consolidated financial statements are detailed below: Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Enel Distribución Río S.A. EGP Cachoeira Dourada S.A. Enel Generación Fortaleza S.A. Enel Cien S.A. Enel Distribución Ceará S.A. Enel Brasil S.A. Enel X Brasil S.A. Enel Distribución Goias S.A. Enel Distribución Sao Paulo S.A. Enel Green Power Proyectos I (Volta Grande) Luz de Angra Energía S.A. Central Generadora Fotovoltaica Sao Francisco Ltda. Enel Tecnología de Redes S.A. Enel Trading Brasil S.A. Enel Uruguay S.A. (1) Central Dock Sud S.A. Compañía de Transmisión del Mercosur S.A. - CTM Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazilian real Brazilian real Brazilian real Brazilian real Brazilian real Brazilian real Brazilian real Brazilian real Brazilian real Brazilian real Brazilian real Brazilian real Brazilian real Brazilian real Uruguay American dollar Argentina Argentine peso Argentina Argentine peso - - - - - 99.73% 99.73% 99.75% 99.75% 100.00% 100.00% 100.00% 100.00% 74.05% 74.05% - - - - - 99.73% 99.73% 99.75% 99.75% 100.00% 100.00% 100.00% 100.00% 74.05% 74.05% 100.00% - 100.00% 100.00% - 100.00% - - - - - - - - - - - 100.00% 100.00% 99.96% 99.96% 100.00% 100.00% 100.00% 100.00% 51.00% 51.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 70.24% 70.24% 100.00% 100.00% - - - - - - - - - - - 100.00% 100.00% 99.93% 99.93% 100.00% 100.00% 100.00% 100.00% - - 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 70.24% 70.24% 100.00% 100.00% Distrilec Inversora S.A. Argentina Argentine peso 51.50% - 51.50% 51.50% - 51.50% Empresa Distribuidora Sur S.A. - Edesur Argentina Argentine peso - 99.45% 99.45% - 99.45% 99.45% Enel Argentina S.A. Argentina Argentine peso 99.92% - 99.92% 99.92% - 99.92% Enel Trading Argentina S.R.L. Argentina Argentine peso 55.00% 45.00% 100.00% 55.00% 45.00% 100.00% Enel Generación Costanera S.A. Argentina Argentine peso Enel Generación El Chocón S.A. Argentina Argentine peso - - 75.68% 75.68% 67.67% 67.67% - - 75.68% 75.68% 67.67% 67.67% Hidroinvest S.A. Argentina Argentine peso 41.94% 54.76% 96.70% 41.94% 54.76% 96.70% Inversora Dock Sud S.A. Argentina Argentine peso 57.14% - 57.14% 57.14% - 57.14% Transportadora de Energía S.A. - TESA Argentina Argentine peso - 100.00% 100.00% - 100.00% 100.00% Compañía Distribuidora y Comercializadora de Energía S.A. - Codensa Emgesa S.A. E.S.P. Inversora Codensa S.A.S. Colombia Colombian peso Colombia Colombian peso Colombia Colombian peso Sociedad Portuaria Central Cartagena S.A. Colombia Colombian peso Enel X Colombia S.A.S Bogotá ZE S.A.S. Enel Perú S.A.C. Colombia Colombian peso Colombia Colombian peso Peru Peruvian soles 100.00% - 100.00% 100.00% 48.30% 48.48% - - 48.30% 48.30% 48.48% 48.48% - - 48.30% 48.48% - - - - 100.00% 100.00% 99.99% 99.99% 100.00% 100.00% 100.00% 100.00% - - - - 100.00% 100.00% 99.99% 99.99% 100.00% 100.00% - - - 100.00% 203 Annual Report Enel Américas 2020 Taxpayer ID No. Foreign Foreign Foreign Foreign Foreign Foreign Company Chinango S.A.C. Enel Generación Perú S.A.A. Enel Distribución Perú S.A.A. Enel Generación Piura S.A. Enel X Perú S.A.C. Compañía Energética Veracruz S.A.C. Country Peru Peru Peru Peru Peru Peru Functional Currency Peruvian soles Peruvian soles Peruvian soles Peruvian soles Peruvian soles Peruvian soles 12-31-2020 12-31-2019 Direct Indirect Total Direct Indirect Total - - - - - - 80.00% 80.00% 83.60% 83.60% 83.15% 83.15% 96.50% 96.50% 99.99% 99.99% 100.00% 100.00% - - - - - - 80.00% 80.00% 83.60% 83.60% 83.15% 83.15% 96.50% 96.50% 99.99% 99.99% 100.00% 100.00% (1) Nuxer Trading S.A. changed its name in 2020 to Enel Uruguay S.A. 2.4.1 Changes in the scope of consolidation 2020 - On September 22, 2020, the Company’ssubsidiary Enel X Brasil S.A. acquired 51% of the share capital of Luz de Angra Energía S.A., whose corporate purpose is to perform works and services related to public lighting and signage in streets, ports and airports. - On October 22, 2020, Bogotá ZE SAS was incorporated, which is 100% owned by the Company’s subsidiary Enel X Colombia S.A.S. The new company is engaged in performing any acts related to sustainable electromobility in Colombia and abroad. 2019 - The Company’s subsidiary Enel X Perú S.A.C was incorporated in the first quarter of 2019. This subsidiary, among others, is engaged in the development, implementation and sale of products and services related to energy that incorporate innovation, state-of-the-art technology and trends of the future, other than the electricity distribution under concession and the related services. - The company Enel Tecnología de Redes S.A. was incorporated in September 2019. This company is 100% owned by Enel Brasil S.A., and is engaged in the planning, development and execution of energy generation, distribution, transmission and/or commercialization, as well as the marketing of equipment intended for energy distribution, measurement and control. - In October of 2019, Enel Trading Brasil S.A. was included in the Group's consolidation. This company is 100% owned by Enel Brasil S.A., and is engaged in the performance of wholesale and retail activities involving energy and other unspecified products, import and export, management activities, such as those associated with products and related services, as well as holding ownership interests in other companies. - On November 6, 2019, Enel Brasil Investimento Sudeste S.A. was acquired by Enel Distribución Sao Paulo S.A., where the latter became the legal successor company. - On November 27, 2019, within the framework of the public tender offer for the acquisition of shares in the Company’s subsidiary Enel Distribución Sao Paulo S.A., the market was informed that the Company’s subsidiary Enel Brasil S.A. acquired 2,959,302 shares, equivalent to 1.5% of the total shares of this company, for BRL146.2 million (approximately US$ 35.2 million). Subsequently, on December 5, 2019, Enel Distribución Sao Paulo S.A. redeemed the remaining 5,174,050 shares, representing 2.62% of total shares, by paying BRL256 million (approximately US$ 62 million). Through these transactions, Enel Brasil S.A. obtained the control of 100% of the shares of Enel Distribución Sao Paulo S.A. 2.4.2 Consolidated companies with an economic equity interest of less than 50% Although the Group has an interest of less than 50% in Codensa S.A. E.S.P. and Emgesa S.A. E.S.P. in Colombia, representing 48.3% and 48.48%, respectively, these companies are considered to be “subsidiaries” since Enel Américas exercises control over them by virtue of a shareholders’ agreement or as a result of its share structure, composition and classes. In this respect, Enel Américas has 57.15% and 56.43% of the voting shares of Codensa S.A. E.S.P., and Emgesa S.A. E.SP., respectively. 204204 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information2.5 Investments in associates Associates are those entities over which Enel Américas, either directly or indirectly, exercises significant influence. Significant influence is the power to participate in the decisions related to the financial and operating policy of the associate but without having control or joint control over those policies. In assessing significant influence, the Group takes into account the existence and effect of currently exercisable voting rights or convertible rights at the end of each reporting period, including currently exercisable voting rights held by the Company or other entities. In general, significant influence is presumed to be present in those cases in which the Group has more than 20% of the voting power of the investee. Associates are accounted for in the consolidated financial statements using the equity method of accounting, as described in Note 3.i. The detail of the companies that qualify as associates is the following: Taxpayer ID No. Foreign Foreign Foreign Foreign Foreign Company Sacme S.A. Yacylec S.A. Country Argentina Argentina Central Térmica Manuel Belgrano (*) Argentina Argentine peso Central Térmica San Martin (*) Central Vuelta Obligada S.A. Argentina Argentina Argentine peso Argentine peso - - - Functional Currency 12-31-2020 12-31-2019 Direct Indirect Total Direct Indirect Total Argentine peso - 50,00% 50,00% - 50,00% 50,00% Argentine peso 33,33% 33,33% 33,33% - 33,33% - - - - - 40,90% 40,90% - - - 25,60% 25,60% 25,60% 25,60% 40,90% 40,90% (*) See Note 14.1 2.6 Joint arrangements Joint arrangements are defined as those entities in which the Group exercises control under an agreement with other shareholders and jointly with them, i.e., when decisions on the entities’ relevant activities require the unanimous consent of the parties sharing control. Depending on the rights and obligations of the participants, joint agreements are classified as: - - Joint venture: an agreement whereby the parties exercising joint control have rights to the entity’s net assets. Joint ventures are included in the consolidated financial statements using the equity method of accounting, as described in Note 3.i. Joint operation: an agreement whereby the parties exercising joint control have rights to the assets and obligations with respect to the liabilities relating to the arrangement. Joint operations are included in the consolidated financial statements recognizing the proportional interest in the assets and liabilities impacted by such operation. In determining the type of joint arrangement in which it is involved, the Group’s Management assesses its rights and obligations arising from the arrangement by considering the structure and legal form of the arrangement, the terms agreed by the parties in the contractual arrangement and, when relevant, other facts and circumstances. If facts and circumstances change, the Group reassesses whether the type of joint arrangement in which it is involved has changed. Currently, the Company is not involved in any joint arrangement that qualifies as a joint operation. 2.7 Basis of consolidation and business combinations The subsidiaries are consolidated, and all their assets, liabilities, revenues, expenses, and cash flows are included in the consolidated financial statements once the adjustments and eliminations of intra-group transactions have been made. The comprehensive income from subsidiaries is included in the consolidated statement of comprehensive income from the date when the parent company obtains control of the subsidiary until the date on which it loses control of the subsidiary. 205 Annual Report Enel Américas 2020The Group records its business combinations using the acquisition method when the set of activities and assets acquired meet the definition of a business, and control is transferred to the Group. To be considered a business, a set of activities and assets acquired must include, as a minimum, an input and a substantive process applied to it which, as a whole, significantly contribute to the capacity to create products. IFRS 3 offers the option to apply a “concentration test” as a simplified evaluation of whether or not an acquired set of activities and assets is a business. The concentration test is positive if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets. The operations of the Parent company and its subsidiaries have been consolidated under the following basic principles: 1. At the date the parent obtains control, the subsidiary’s assets acquired, and its liabilities assumed are recorded at fair value, except for certain assets and liabilities that are recorded using valuation principles established in other IFRS standards. If the fair value of the consideration transferred plus the fair value of any non-controlling interests exceeds the fair value of the net assets acquired, this difference is recorded as goodwill. In the case of a bargain purchase, the resulting gain is recognized in profit or loss after reassessing whether all of the assets acquired and the liabilities assumed have been properly identified and following a review of the procedures used to measure the fair value of these amounts. For each business combination, IFRS allow valuation of the non-controlling interests in the acquiree on the date of acquisition: i) at fair value; or ii) for the proportional ownership of the identifiable net assets of the acquiree, with the latter being the methodology that the Group has systematically applied to its business combinations. If the fair value of all assets acquired and liabilities assumed at the acquisition date has not been completed, the Group reports the provisional values accounted for in the business combination. During the measurement period, which shall not exceed one year from the acquisition date, the provisional values recognized will be adjusted retrospectively as if the accounting for the business combination had been completed at the acquisition date, and also additional assets or liabilities will be recognized to reflect new information obtained about events and circumstances that existed on the acquisition date, but which were unknown to Management at that time. Comparative information for prior periods presented in the financial statements is revised as needed, including making any change in depreciation, amortization or other income effects recognized in completing the initial accounting. For business combinations achieved in stages, the Company measures at fair value the participation previously held in the equity of the acquiree on the date of acquisition and the resulting gain or loss, if any, is recognized in profit or loss of the period. 2. Non-controlling interests in equity and in the comprehensive income of the consolidated subsidiaries are presented, respectively, under the line items “Total Equity: Non-controlling interests” in the consolidated statement of financial position and “Profit (loss) attributable to non-controlling interests” and “Comprehensive income attributable to non- controlling interests” in the consolidated statement of comprehensive income. 3. Balances and transactions between consolidated companies have been fully eliminated on consolidation. 4. Changes in the ownership interests in subsidiaries that do not result in the Group obtaining or losing control are recognized as equity transactions. The carrying amounts of the controlling and non-controlling interests are adjusted to reflect the changes in their relative interests in the subsidiaries. Any difference between the amount by which the non-controlling interests are adjusted and the fair value of the consideration paid or received is recognized directly in equity attributable to shareholders of the Parent. 5. Business combinations under common control are accounted for using the “pooling of interest” method. Under this method, the assets and liabilities involved in the transaction remain reflected at the same carrying amounts at which they were recorded in the ultimate parent company, although subsequent accounting adjustments may be needed to align the accounting policies of the companies involved. The Group does not apply a retrospective item of business combinations under common control. 206206 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information Any difference between assets and liabilities contributed to the consolidation and the consideration paid is recorded directly in equity, as a debit or credit to “Other reserves.” 2.8 Functional Currency The functional and presentation currency of the consolidated financial statements of Enel Américas is the United States dollar (US$). The functional currency has been determined, considering the economic environment in which the Company operates. This conclusion is based on the fact that the US$ is the currency that fundamentally influences its financing, capital issuance and cash and cash equivalent activities. Accordingly, the US$ reflects the underlying transactions, events and conditions for Enel Américas. Any information presented in US$ has been rounded to the closest thousand (ThUS$) or million (MUS$), unless indicated otherwise. 2.9 Conversion of financial statements denominated in foreign currency Conversion of the financial statements of the Group companies that have functional currencies different than US$, and do not operate in hyperinflationary economies, is carried out as follows: a. Assets and liabilities, using the exchange rate prevailing at the closing date of the financial statements. b. Comprehensive income statements using the average exchange rate for the period (unless this average is not a reasonable approximation of the cumulative effect of the exchange rate existing on the transaction dates, in which case the exchange rate on the date of each transaction is used). c. Equity is maintained at the historical exchange rate on the date of its acquisition or contribution, and at the average exchange rate as of the date of generation for retained earnings. d. Foreign currency translation differences generated in the conversion of the financial statements are recorded under “Foreign currency translation gains (losses)” in the consolidated comprehensive income statement: Other comprehensive income (see Note 27.2). The financial statements of subsidiaries whose functional currency is that of a hyperinflationary economy, are first adjusted for inflation, recording any gain or loss in the net monetary position in profit or loss. Subsequently, all items (assets, liabilities, equity items, expenses and revenue) are converted at the exchange rate prevailing at the closing date of the most recent statement of financial position. Argentine Hyperinflation Beginning on July 2018, the Argentine economy has been considered to be hyperinflationary in accordance with the criteria established in IAS 29 “Financial Reporting in Hyperinflationary Economies”. This determination was made on the basis of a number of qualitative and quantitative criteria, especially the presence of accumulated inflation in excess of 100% during the three previous years. In accordance with IAS 29, the financial statements of investees in Argentina have been restated retrospectively, applying the general price index at historical cost, in order to reflect changes in the purchasing power of the Argentinean peso, as of the closing date of these financial statements. Non-monetary assets and liabilities were restated from February 2003, the last date on which an inflation adjustment was applied for accounting purposes in Argentina. Within this context, note that the Group carried out its transition to IFRS on January 1, 2004, and applied the deemed cost exception to property, plant and equipment. 207 Annual Report Enel Américas 2020 For consolidation purposes in Enel Américas and as a result of the application of IAS 29, the results of our subsidiaries in Argentina were converted at the prevailing period-closing exchange rate (ARS/US$), in accordance with IAS 21 “Effects of Changes in Foreign Exchange Rates”, when dealing with a hyperinflationary economy. Previously, the profit or loss of Argentinean subsidiaries were converted using the average exchange rate for the period, as used for the other subsidiaries operating in other countries whose economies are not considered to be hyperinflationary. The general price indexes used at the end of the reporting periods are as follows: From January to December 2018 From January to December 2019 From January to December 2020 General Price Index 47.83% 53.64% 36.13% The first-time application of IAS 29 led to a positive adjustment in the retained earnings of Enel Américas, of ThUS$ 961,107 (net of taxes) as of January 1, 2018, of which ThUS$ 668,693 were attributable to the shareholders of Enel Américas. The effects of the application of this standard on these consolidated financial statements are detailed in Note 33. Exchange rates The exchange rates used to convert the financial statements of the different foreign subsidiaries are detailed as follows (local currency versus the US$): Currency Argentine peso Brasilean real Peruvian sol Colombian peso 12-31-2020 12-31-2019 Closing Date Mid Average Closing Date Mid Average 84.15 5.20 3.62 84.07 5.16 3.50 59.89 4.03 3.32 59.88 3.94 3.34 12-31-2018 Mid Average 37.67 3.65 3.28 3,432.50 3,693.52 3,277.14 3,281.39 2,952.39 NOTE 3. Accounting policies The main accounting policies used in preparing the accompanying consolidated financial statements are the following: a) Property, plant and equipment Property, plant and equipment are generally measured at acquisition cost, net of accumulated depreciation and any impairment losses experienced. In addition to the price paid to acquire each item, the cost also includes, the following concepts, where applicable: - Finance costs accrued during the construction period that are directly attributable to the acquisition, construction, or production of qualifying assets, which require a substantial period of time before being ready for use such as; e.g., electricity generation or distribution facilities. The Group defines “substantial period” as a period exceeding twelve months. The interest rate used is that of the specific financing or, if none exists, the weighted average financing rate of the company making the investment (see Note 17.b.1). Employee expenses directly related to construction in progress (see Note 17.b.2). Future disbursements that the Group will have to make to close its facilities are added to the value of the asset at fair value, recognizing the related provision for dismantling or restoration. The Group reviews its estimate of these future disbursements on an annual basis, increasing or decreasing the value of the asset based on the results of this estimate (see Note 25). - - 208208 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationAssets under construction are transferred to operating assets once the testing period has been completed and they are available for use, at which time depreciation begins. Expansion, modernization or improvement costs that represent an increase in productivity, capacity or efficiency, or a longer useful life are capitalized as an increase in the cost of the related assets. The replacement or overhaul of entire components that increase the asset’s useful life or economic capacity are recorded as an increase in cost of the related assets, derecognizing the replaced or overhauled components. Expenditures for periodic maintenance, and repair are recognized directly as an expense for the year in which they are incurred. Property, plant and equipment, net of its residual value, is depreciated by distributing the cost of the different items that comprise it on a straight-line basis over its estimated useful life, which is the period during which the Group expects to use the assets. Useful life estimates and residual values are reviewed on an annual basis and if appropriate adjusted prospectively. In addition, the Group recognizes right-of-use assets for leases relating to property, plant and equipment in accordance with the criterion established in Note 3.f. The following are the main categories of property, plant and equipment with their related estimated useful lives: Classes of property, plant and equipment Years of estimated useful life Buildings Plant and equipment IT equipment Fixtures and fittings Motor vehicles 10 – 85 10 – 85 3 – 15 3 – 75 5 – 20 In addition, for further information, the following is a more detailed breakdown of the class plant and equipment class: Generating plant and equipment: Hydroelectric plants Civil engineering works Electromechanical equipment Coal/Fuel power plants Combined cycle power plants Distribution plant and equipment: High-voltage network Low- and medium-voltage network Measuring and remote-control equipment Primary substations Years of estimated useful life 10 – 85 10 – 60 10 – 40 10 – 50 15 – 50 30 – 50 10 – 30 20 – 40 Land is not depreciated since it has an indefinite useful life, unless it relates to a right-of-use asset in which case it is depreciated over the term of the lease. 209 Annual Report Enel Américas 2020 Regarding the administrative concessions held by the Group’s electric companies, the following table lists the remaining periods until expiration of the concessions that do not have an indefinite term: Concession holder and operator Empresa Distribuidora Sur S.A. - Edesur (Distribution) Enel Generación El Chocón S.A. (Generation) (*) Transportadora de Energía S.A. (Transmission) Compañía de Transmisión del Mercosur S.A. (Transmission) EGP Cachoeira Dourada S.A. (Generation) Enel Generación Fortaleza S.A (Generation) Enel CIEN S.A. (Garabi I) (**) Enel CIEN S.A. (Garabi II) (**) Country Argentina Argentina Argentina Argentina Brazil Brazil Brazil Brazil Year concession started Concession term Remaining period to expiration 1992 1993 2002 2000 1997 2001 2000 2002 95 years 30 years 85 years 87 years 30 years 30 years 22 years 20 years 67 years 3 years 67 years 67 years 7 years 11 years 1.6 years 1.6 years (*) The Chocón Complex Concession Contract (Chocón and Arroyito plants) expires on August 11, 2023. This contract does not foresee any extension or new call for proposals, but rather the restitution to the licensor (Argentine State). However, some proceedings are being carried out to achieve a temporary extension. (**) The main assets of our subsidiary Enel CIEN are the Garabi I and Garabi II energy interconnection systems, which through two frequency conversion stations and 2,200 MW transmission lines, transport energy between Brazil and Argentina. In June 2020, the Ministry of Mines and Energy of Brazil enacted an ordinance that allows Enel CIEN to continue operating the Garabi I line after the end of the concession on June 20, 2020, approving its term to correspond with the conces- sion of the Garabi II line, up to July 31, 2022. During 2021, there will be a new tender for the operation of both lines, and Enel CIEN has the possibility of participating in such process. If the concession is not renewed, Enel CIEN will recover the carrying amount of the underlying assets. To the extent that the Group recognizes the assets as Property, plant and equipment, these are amortized over their economic life or the concession term, whichever is shorter, when the economic benefit from the asset is limited to its use during the concession term. Any required investment, improvement or replacement made by the Group is considered in the impairment test to Property, plant, and equipment as a future contractual cash outflow that is necessary to obtain future cash inflows. The Group’s Management analyzed the specific contract terms of each of the aforementioned concessions, which vary depending on the by country, business activity and jurisdiction, and concluded that, with the exception of Enel CIEN, there are no determining factors indicating that the grantor, which in every case is a government entity, controls the infrastructure and, at the same time, can continuously set the price to be charged for the services. These requirements are essential for applying IFRIC 12, Service Concession Arrangements, an interpretation that establishes how to recognize and measure certain types of concessions (see Note 3.d.1). On April 19, 2011, the Company’s subsidiary Enel CIEN successfully completed its change in business model. Under the new agreement, the Brazilian government continues to control the infrastructure, but Enel CIEN receives fixed payments, which places it at anequal level with a public transmission concession (with regulated prices). Under this business model, its concessions fall within the scope of IFRIC 12; however, the infrastructure has not been derecognized due to the fact that Enel CIEN has not substantially transferred the significant risks and benefits to the Brazilian government. An item of property, plant and equipment is derecognized when it is sold or otherwise disposed of, or when no future economic benefits are expected from its use, sale or other disposal. Gains or losses arising from the sale or disposal of items of property, plant and equipment are recognized as “Other gains (losses)” in the statement of comprehensive income and calculated by deducting the amount received for the sale from the net carrying amount of the asset and the selling value. b) Investment property “Investment property” basically includes land and buildings that are kept for the purpose of obtaining gains from future sales or lease arrangements. Investment property is measured at acquisition cost, net of accumulated depreciation and any impairment losses experienced. Investment property, excluding land, is depreciated by distributing the cost of the several elements that comprise it on a straight-line basis over the years of useful life. 210210 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationAn investment property is derecognized on disposal, or when no future economic benefits are expected from use or disposal. Gains or losses arising from the sale or disposal of items of investment property are recognized as “Other gains (losses)” in the statement of comprehensive income and determined as the difference between the sales amount and the net carrying amount of the asset. c) Goodwill Goodwill arising from business combinations, and reflected upon consolidation, represents the excess value of the consideration paid plus the amount of any non-controlling interests over the Group’s share of the net value of the assets acquired and liabilities assumed, measured at fair value at the acquisition date. If the accounting for a business combination is completed within the following year after the acquisition date, and thus the goodwill determination as well, the entity recognizes the related adjustments to the provisional amounts as if the accounting for the business combination had been completed at the acquisition date. If the accounting for a business combination is completed within the following year after the acquisition date, and thus the goodwill determination as well, the entity recognizes the related adjustments to the provisional amounts as if the accounting for the business combination had been completed at the acquisition date (see Note 2.7.1). Goodwill arising from acquisition of companies with functional currencies other than the functional currency of the Parent is measured in the functional currency of the acquiree and translated to US dollar using the exchange rate effective as of the date of the statement of financial position. Goodwill is not amortized; instead, at the end of each reporting period or when there are indicators that an impairment might have occurred, the Group estimates whether any impairment loss has reduced its recoverable amount to an amount less than the carrying amount and, if so, an impairment loss is immediately recognized in profit or loss (see Note 3.e). d) Intangible assets other than goodwill Intangible assets are initially recognized at their acquisition cost or production cost, and are subsequently measured at their cost, net of their accumulated amortization and impairment losses experienced. Intangible assets are amortized on a straight-line basis during their useful lives, starting from the date when they are ready for use, except for those with an indefinite useful life, which are not amortized. As of December 31, 2020, and 2019, there are no significant amounts in intangible assets with an indefinite useful life. The criteria for recognizing these assets’ impairment losses and, if applicable, recovery of impairment losses recorded in previous periods are explained in Note e) below. An intangible asset is derecognized when it is sold or otherwise disposed of, or when no future economic benefits are expected from its use, sale or other disposal. Gains or losses arising from sales of intangible assets are recognized in profit or loss for the period and determined as the difference between the amount of the sale and the carrying amount of the asset. d.1) Concessions Public-to-private service concession agreements are recognized according to IFRIC 12: Service Concession Arrangements. This accounting interpretation applies if: a) The grantor controls or regulates what services the operator should provide with the infrastructure, to whom it must provide them, and at what price; and 211 Annual Report Enel Américas 2020 b) The grantor controls – through ownership, beneficial entitlement, or otherwise – any significant residual interest in the infrastructure at the end of the term of the arrangement. If both of the above conditions are met simultaneously, the consideration received by the Group for the constructed infrastructure is initially recognized at its fair value, as either: - An intangible asset when the Group receives the right to charge users of the public service, as long as these charges are conditional on the degree to which the service is used; - A financial asset when the Group has an unconditional contractual right to receive cash or another financial asset directly from the grantor or from a third party. However, both types of considerations are classified as a contract asset during the construction or improvement period, in accordance with IFRS 15 (see Note 9). The Group recognizes the contractual obligations assumed for maintenance of the infrastructure during its use, or for its return to the grantor at the end of the concession agreement within the conditions specified in the agreement, as long as it does not involve an activity that generates income, in accordance with the Group’s accounting policy to recognize provisions (see Note 3.m). Finance costs attributable to the concession arrangements are capitalized based on the criteria established in a) above, provided that the operator has a contractual right to receive an intangible asset. The Company’s subsidiaries that have recognized an intangible asset and/or a financial asset from their service concession arrangements are the following: Concession holder and operator Enel Distribución Río S.A. (formerly - Ampla) (Distribution) (*) Enel Distribución Ceará S.A. (formerly - Coelce) (Distribution) (*) Enel Distribución Goiás S.A. (Distribution) (*) Enel Green Power Proyectos I (Volta Grande) (**) Enel Distribución Sao Paulo S.A. (Distribution) (*) Country Year concession started Concession term Remaining period to expiration Brazil Brazil Brazil Brazil Brazil 1996 1997 2015 2017 1998 30 years 30 years 30 years 30 years 30 years 6 years 7 years 24 years 27 years 8 years (*) Because part of the rights acquired by these subsidiaries are unconditional, an intangible asset and financial asset at fair value through profit and loss have been recognized for the concession (See Notes 3.g.1 and Note 8). (**) Because all of the rights acquired by this subsidiary are unconditional, only a financial asset at fair value through profit and loss has been recognized for this concession (see Note 3.g.1 and Note 8). At the end of each concession period, this can be renewed at the discretion of the granting authority, otherwise all assets and facilities will be returned to the Government or its assignee, upon reimbursement for investments made and not yet amortized. d.2) Research & development expenses The Group recognizes the costs incurred in a project’s development phase as intangible assets in the statement of financial position as long as the project’s technical feasibility and future economic benefits have been demonstrated. Research costs are recorded as an expense in the consolidated statement of comprehensive income in the period in which they are incurred. d.3) Other intangible assets Other intangible assets correspond to computer software, water rights, and easements. They are initially recognized at acquisition or production cost and are subsequently measured at cost less accumulated amortization and impairment losses, if any. 212212 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information Computer software is amortized (on average) over five years. Certain easements and water rights have indefinite useful lives and are therefore not amortized, while others have useful lives ranging from 40 to 60 years, depending on their characteristics, and they are amortized over that term. e) Impairment of non-financial assets During the period, and mainly at the end of each reporting period, the Group evaluates whether there is any indication that an asset has been impaired. If any such indication exists, the Group estimates the recoverable amount of that asset to determine the amount of the impairment loss. For identifiable assets that do not generate cash flows independently, the Group estimates the recoverable amount of the Cash Generating Unit (CGU) to which the asset belongs, which is understood to be the smallest identifiable group of assets that generates independent cash inflows. Notwithstanding the preceding paragraph, for CGUs to which goodwill or intangible assets with indefinite useful life have been allocated, a recoverability analysis is performed routinely at each year-end. The criteria used to identify the CGUs are based, in line with Management’s strategic and operating vision, within the specific characteristics of the business, the operating rules and regulations of the market in which the Group operates and corporate organization. Recoverable amount is the higher of fair value less costs of disposal and value in use, which is defined as the present value of the estimated future cash flows. In order to calculate the recoverable amount of Property, plant, and equipment, as well as of goodwill and intangible assets, the Group uses value in use criteria in practically all cases. To estimate value in use, the Group prepares future pre-tax cash flow forecasts based on the most recent budgets available. These budgets include Management’s best estimates of a CGU’s revenue and costs using sector forecasts, past experience and future expectations. In general, these projections cover the next five years, estimating cash flows for subsequent years by applying reasonable growth rates which, in no case, are increasing rates nor exceed the average long-term growth rates for the particular sector and country in which the Group operates. The growth rates used to extrapolate the projections as of December 31, 2020 and 2019 were the following: Country Argentina Brazil Peru Currency Argentine peso Brazilian reais Peruvian soles Colombia Colombian pesos 12-31-2020 12-31-2019 Minimum Maximum Minimum Maximum 10.1% 3.5% 2.5% 3.0% 12.8% 3.5% 2.5% 3.0% 6.7% 3.8% 2.5% 3.0% 6.7% 3.8% 2.5% 3.0% Future cash flows are discounted to calculate their present value at a pre-tax rate that covers the cost of capital for the business activity and the geographic area in which it is being carried out. The time value of money and risk premiums generally used among analysts for the business activity and the geographic zone are taken into account to calculate the pre-tax rate. The following are the pre-tax discount rates applied as of December 31, 2020 and 2019, expressed in nominal terms: Country Argentina Brazil Peru Currency Argentine peso Brazilian reais Peruvian soles Colombia Colombian pesos 12-31-2020 12-31-2019 Minimum Maximum Minimum Maximum 35.8% 9.6% 7.4% 8.7% 63.4% 40.2% 11.1% 10.5% 24.7% 10.1% 7.8% 8.7% 50.6% 23.4% 12.9% 11.8% 213 Annual Report Enel Américas 2020The Company’s approach to allocate value to each key assumption used to project cash flows, considers: - - Evolution of demand: the growth estimate has been calculated based on the projected increase in the Gross Domestic Product (GDP), in addition to other assumptions used by the Company regarding the evolution of consumption. Energy purchase and sale prices: based on specifically developed internal projection models. The price of the planned “pool” is estimated by considering a number of determining factors, such as the different technologies costs and productions and energy demand, among other items. - Regulatory measures: an important part of the Company’s business is regulated and subject to extensive standards, which could undergo revisions, either as a result of new laws or the amendment of existing laws, and therefore the projections include adequate application of the current standards and those that are currently being developed, and those expected to be effective during the projected period. - Installed capacity: in the estimating of the Group’s installed capacity, the existing facilities are taken into account, as well as the plans for both increasing capacity and capacity closure. The investment plan is constantly updated based on the evolution of the business, quality of service regulations determined by the regulator and changes in the business development strategy adopted by management. The necessary investments are taken into account to maintain the - - - installed capacity in appropriate operating conditions. Hydrology and NCRE: the projections are made from historical series of meteorological conditions and projecting an average year, based on these. Fuel costs: to estimate fuel costs, existing supply contracts are taken into account and long-term projections of oil, gas or coal prices are made, based on forward markets and available analyst estimates. Fixed costs: these are projected considering the foreseen level of business activities, both in terms of the evolution of the workforce (considering salary raises in line with the CPI), and in term of other operating and maintenance costs, the level of projected inflation and long-term existing maintenance or other contracts. The efficiencies that the Group is adopting over time are also considered, such as those that arise from the initiatives for the digitalization for the internal processes. - External sources are always considered to verify the assumptions related to the macroeconomic environment such as price evolution, GDP growth, demand, inflation, interest rates and exchange rates, among others. Past experience has demonstrated the reliability of the Company’s forecasts, which allows it to base key assumptions on historical information. During 2020, the deviations observed with respect to the projections used to perform impairment testing as of December 31, 2019, were not significant and cash flows generated in 2020 remained in a reasonable variance range compared to those expected for that period, with the exception of the effects generated by the COVID-19 pandemic. If the recoverable amount of the CGU is less than the net carrying amount of the asset, the related impairment loss is recognized for the difference, and charged to “Impairment loss (impairment reversals) recognized in profit or loss” in the consolidated statement of comprehensive income. The impairment is first allocated to the CGU’s goodwill carrying amount, if any, and then to the other assets comprising it, prorated on the basis of the carrying amount of each one, limited to the fair value less costs of disposal, or value in use, where no negative amount could be obtained. Impairment losses recognized in prior periods for an asset other than goodwill are reversed, if and only if, there has been a change in the estimates used to determine the asset’s recoverable amount since the last impairment loss was recognized. If this is the case, the carrying amount of the asset is increased to its recoverable amount with a credit to profit or loss, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset. For goodwill, impairment losses are not reversed in subsequent periods. f) Leases In order to determine whether an arrangement is, or contains, a lease, the Company assesses the economic substance of the agreement, assessing whether the agreement conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Control is considered to exist if the customer has i) the right to obtain substantially all the economic benefits arising from the use of an identified asset; and ii) the right to direct the use of the asset. 214214 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Informationf.1) Lessee When the Group acts as a lessee at the commencement of the lease (i.e. on the date on which the underlying asset is available for use) it records a right-of-use asset and a lease liability in the statement of financial position. The Group initially recognizes right-of-use assets at cost. The cost of right-of-.use assets comprises: (i) the amount of the initial measurement of the lease liability; (ii) lease payments (made until the commencement date less lease incentives received), (iii) initial direct costs incurred; and (iv) the estimate of decommissioning or restoration costs. Subsequently, the right-of-use asset is measured at cost, adjusted by any re measurement of the lease liability, less accumulated depreciation and accumulated impairment losses. A right-of-use asset is depreciated on the same terms as other similar depreciable assets, as long as there is reasonable certainty that the lessee will acquire ownership of the asset at the end of the lease. If no such certainty exists, the leased assets are depreciated over the shorter of the useful lives of the assets and their lease term. The same criteria detailed in Note 3.e are applied to determine whether the right-of-use asset has become impaired. The lease liability is initially measured at the present value of the lease payments, discounted at the Company's incremental borrowing rate, if the interest rate implicit in the lease cannot be readily determined. The incremental borrowing rate is the interest rate that the company would have to pay to borrow over a similar term, and with similar security, the funds necessary to obtain an asset of similar value to the right-of-use asset in a similar economic environment. The Group determines its incremental borrowing rate using observable data (such as market interest rates) or by making specific estimates when there are no observable rates available (e.g., for subsidiaries that do not carry out financing transactions) or when they must be adjusted to reflect the terms and conditions of the lease (e.g., when the leases are not in the functional currency of the subsidiary). Lease payments included in the measurement of liabilities comprise: i) fixed payments, less any lease incentive receivable; ii) variable lease payments that depend on an index or a rate; iii) residual value guarantees; iv) the exercise price of a purchase option, if the Group is it is reasonably certain to exercise that option; and v) penalties for terminating the lease, if any. After the commencement date, the lease liability increases to reflect the accrual of interest and is reduced by the lease payments made. In addition, the carrying amount of the liability is remeasured if there is a change in the terms of the lease (changes in the lease term, in the amount of expected payments related to a residual value guarantee, in the evaluation of a purchase option or in an index or rate used to determine lease payments). Interest expense is recognized as finance cost and distributed over the years making up the lease period, so that a constant interest rate is obtained in each year on the outstanding balance of the lease liability. Short-term leases of one year or less or leases of low value assets are exempt from the application of the recognition criteria described above, with the payments associated with the lease recorded as an expense on a straight-line basis over the term of the lease. Right-of-use assets and lease liabilities are presented separately from other assets and liabilities, respectively in the consolidated statement of financial position. f.2) Lessor When the Group acts as a lessor, it classifies at the commencement of the agreement whether the lease is an operating or finance lease, based on the substance of the transaction. Leases in which all the risks and rewards incidental to ownership of an underlying asset are substantially transferred are classified as finance leases. All other leases are classified as operating leases. For finance leases, at the commencement date, the company recognizes in its statement of financial position the assets held under finance leases and presents them as an account receivable, for an amount equal to the net investment in the lease, calculated as the sum of the present value of the lease payments and the present value of any accrued residual value, discounted at the interest rate implicit in the lease. Subsequently, finance income is recognized over the term of the lease, based on a model that reflects a constant rate of return on the net financial investment made in the lease. 215 Annual Report Enel Américas 2020For operating leases, lease payments are recognized as income on a straight-line basis, over the term of the lease unless another type of systematic basis of distribution is deemed more representative. The initial direct costs incurred in obtaining an operating lease are added to the carrying amount of the underlying asset and are recognized as expense throughout the lease period, applying the same basis as for rental income. g) Financial instruments Financial instruments are contracts that give rise to both a financial asset in one entity and a financial liability or equity instrument in another entity. g.1) Financial assets other than derivatives The Group classifies its non-derivative financial assets, whether permanent or temporary, excluding investments accounted for using the equity method (see Notes 3.i and 14) and non-current assets and disposal groups held for sale or distribution to owners (see Note 3.k), into three categories: (i) Amortized cost: This category includes the financial assets that meet the following conditions (i) the business model that supports the financial assets seeks to maintain such financial assets to obtain contractual cash flows, and (ii) the contractual terms of such financial assets give rise on specific dates to cash flows that are solely payments of principal and interest (SPPI criterion). Financial assets that meet the conditions established in IFRS 9, to be valued at amortized cost in the Group are: cash equivalents, accounts receivable and, loans. Such assets are recorded at amortized cost, which is the initial fair value, less repayments of principal, plus uncollected accrued interest, calculated using the effective interest method. The effective interest method is a method for calculating the amortized cost of a financial asset or a financial liability (or a group of financial assets or financial liabilities) and allocating the finance income or finance costs throughout the relevant period. The effective interest rate is the discount rate that exactly matches the estimated cash flows to be received or paid over the expected useful life of the financial instrument (or when appropriate in a shorter period of time), with the net carrying amount of the financial asset or financial liability. (ii) Financial Assets Recorded at Fair Value through Other Comprehensive Income: This category includes the financial assets that the meet the following conditions: (i) they are classified in a business model, the purpose of which is to maintain the financial assets both to collect the contractual cash flows and to sell them, and (ii) the contractual conditions meet the SPPI criterion. These financial assets are recognized in the consolidated statement of financial position at fair value when this can be determined reliably. For the holdings in unlisted companies or companies with low liquidity, it is usually not possible to determine the fair value reliably. Therefore, when this occurs, such holdings are valued at their acquisition cost or for a lower amount if there is evidence of their impairment. Changes in fair value, net of their tax effect, are recorded in the consolidated statement of comprehensive income: Other comprehensive income, until the disposal of these financial assets, where the accumulated amount in this section is fully allocated to profit or loss for the period except for investments in equity instruments where the accumulated balance in other comprehensive income is never reclassified to profit or loss. In the event that the fair value is lower than the acquisition cost, if there is objective evidence that the asset has suffered an impairment that cannot be considered as temporary, the difference is recorded directly in the loss for the period. (iii) Financial Assets Recorded at Fair Value through Profit or Loss: This category includes the trading portfolio of the financial assets that have been allocated as such upon their initial recognition 216216 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Informationand which are managed and assessed according to the fair value criterion, and the financial assets that do not meet the conditions to be classified in the two categories indicated above. These are measured at fair value in the consolidated statement of financial position and any changes in value are recorded directly in profit or loss when they occur. g.2) Cash and cash equivalents This item within the consolidated statement of financial position includes cash and bank balances, time deposits, and other highly liquid investments (with original maturity of less than or equal to 90 days) that are readily convertible into cash and are subject to insignificant risk of changes in value. g.3) Impairment of financial assets Under IFRS 9, the Group applies an impairment model based on expected credit losses, based on the Group’s past history, existing market conditions, and prospective estimates at the end of each reporting period. The impairment model is applied to financial assets measured at amortized cost or those measured at fair value through other comprehensive income, except for investments in equity instruments. Expected credit loss is the difference between the contractual cash flows that are due in accordance with the contract and all the cash flows that are expected to be received, i.e. all cash shortfalls), discounted at the original effective interest rate. It is determined considering: i) the probability of default (PD); ii) loss given default (LGD), and iii) exposure at default (EAD). To determine the expected credit losses the Group applies two separate approaches: • General approach: applied to financial assets other than trade accounts receivable, contractual assets or lease receivables. This approach is based on the evaluation of significant increases in the credit risk of financial assets, from the date of initial recognition. If on the reporting date of the financial statements the credit risk has not increased significantly, the impairment losses are measured related to the expected credit losses in the next 12 months; if, on the contrary, the credit risk has increased significantly, the impairment is measured considering the expected credit losses throughout the lifetime of the asset. In general, the measurement of expected credit losses for financial assets other than trade accounts receivable, contractual assets or lease receivables, are performed separately. • Simplified approach: The Group applies a simplified approach for trade receivables, contract assets and lease receivables so that the impairment provision is always recognized related to the lifetime expected credit losses for the asset. This is the approach that the Group has mostly most applied because trade receivables represent the main financial asset of Enel Américas and its subsidiaries. For trade accounts receivable, contractual assets and lease receivables, the Group applies two types of evaluations of expected credit losses: - Collective evaluation: based on grouping accounts receivable into specific groups or “clusters”, taking into account each business and the local regulatory context. Accounts receivable are grouped according to the characteristics of customer portfolios in terms of credit risk, maturity information and recovery rates. A specific definition of default is considered for each group. To measure the expected credit losses collectively, the Group considers the following assumptions: PD: average default estimate, calculated for each group of trade receivables, taking into account a minimum of 24-month historical data. 217 Annual Report Enel Américas 2020 LGD: calculated based on the recovery rates of a predetermined section, discounted at the effective interest rate; and EAD: accounting exposure on reporting date, net of cash deposits, including invoices issued, but not due and invoices to be issued. - Analytical or individual evaluation: if accounts receivables are considered individually significant by Management and there is specific information regarding any significant increase in the credit risk, the Group applies an individual evaluation of accounts receivable. For the individual evaluation, the PD is obtained mainly from an external supplier, when it is possible to do so, and the LGD through an internal model that considers the recovery rate and other contractual and financial characteristics of accounts receivable. The expected credit loss is obtained by multiplying both factors by the EAD, which is defined as the accounting exposure at the reporting date, including the invoices issued but not due and invoices to be issued for services rendered, net of potential cash deposits obtained as guarantees. On the basis of the benchmark market and the regulatory context of the sector, as well as the recovery expectations after 90 days, for those accounts receivable, the Group mainly applies a predetermined definition of 180 days overdue to determine expected credit losses, since this is considered an effective indicator of a significant increase in credit risk. Consequently, financial assets that are more than 90 days overdue generally are not considered to be in default. Based on specific evaluations performed by management, the prospective adjustment can be applied considering qualitative and quantitative information to reflect possible future events and macroeconomic scenarios, which may affect the risk of the portfolio or the financial instrument. g.4) Financial liabilities other than derivatives General financial liabilities are initially recognized, at fair value net of any costs incurred in the transaction. In subsequent periods, these obligations are measured at their amortized cost using the effective interest method (see Note 3.g.1). Lease liabilities are initially measured at the present value of future lease payments, determined in accordance with the criteria described in Note 3.f. In the particular case that a liability is the hedged item in a fair value hedge, as an exception, such liability is measured at its fair value for the portion of the hedged Risk. In order to calculate the fair value of debt, both when it is recorded in the statement of financial position and for fair value disclosure purposes as shown in Note 23, debt has been divided into fixed interest rate debt (hereinafter “fixed-rate debt”) and floating interest rate debt (hereinafter “floating-rate debt”). Fixed-rate debt is that on which fixed-interest coupons established at the beginning of the transaction are paid explicitly or implicitly over its term. Floating-rate debt is that debt issued at floating interest rate, i.e., each coupon is established at the beginning of each period based on the benchmark interest rate. All debt has been measured by discounting expected future cash flows with a market interest rate curve based on the payment currency. g.5) Derivative financial instruments and hedge accounting Derivatives held by the Group are transactions entered into to hedge interest and/or exchange rate risk, intended to eliminate or significantly reduce these risks in the underlying transactions being hedged. Derivatives are recorded at fair value at the end of each reporting period as follows: if their fair value is positive, they are recorded within “Other financial assets” and if their fair value is negative, they are recorded within “Other financial liabilities”. For derivatives on commodities, positive fair value is recorded in “Trade and other receivables”, and negative fair value, if any, is recognized in “Trade and other liabilities.” Changes in fair value are recorded directly in profit or loss, except when the derivative has been designated for hedge accounting purposes as a hedging instrument and all of the conditions for applying hedge accounting established by IFRS are met, including that the hedge is highly effective. In this case, changes are recognized as follows: 218218 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information - Fair value hedges: The underlying portion for which the risk is being hedged and the hedging instrument are measured at fair value, and any changes in the value of both items are recognized in the statement of comprehensive income offsetting the effects in the same caption of the statement comprehensive income. - Cash flow hedges: Changes in the fair value of the effective portion of the hedged item and hedging instrument are recognized in other comprehensive income and accumulated in an equity reserve referred to as “Hedging reserve.” The cumulative loss or gain in this caption is transferred to the consolidated statement of comprehensive income to the extent that the hedged item impacts the consolidated statement of comprehensive income offsetting the effect in the same comprehensive income statement caption. Gains or losses from the ineffective portion of the hedging relationship are recognized directly in the statement of comprehensive income. Hedge accounting is discontinued only when the hedging relationship (or a part of the relationship) fails to meet the required criteria, after making any rebalancing of the hedging relationship, if applicable. If it is not possible to continue the hedging relationship, including when the hedging instrument expires, is sold, settled or exercised, any gain or loss accumulated in equity at that date remains in the equity until the forecast transaction affects the statement of comprehensive income. When a forecast transaction is no longer expected to occur, the gain or loss accumulated in equity is immediately transferred to the statement of income. The Group does not apply hedge accounting to its investments abroad. As a general rule, long-term commodity purchases or sales agreements are recognized in the statement of financial position at their fair value at the end of each reporting period, recognizing any differences in value directly in profit or loss, except for, when all of the following conditions are met: - The sole purpose of the agreement is for its own use, which is understood as: for fuel purchase agreements such use is to generate electricity; for electrical energy purchased for sale, its sale is to the end-customers; and for electricity sales its sale is to the end-customers. - - The Group’s future projections evidence the existence of these agreements for own use. Past experience with agreements shows that they have been used for the Group’s “own use”, except for certain isolated cases when for exceptional reasons or reasons associated with logistical issues, these have been used for other purposes beyond the Group’s control and expectations. - The agreement does not establish net settlement of differences and there has been no practice to settle similar differences in similar contracts in the past. The long-term commodity purchase or sale agreements maintained by the Group, which are mainly for electricity, fuel, and other supplies, meet the conditions described above. Accordingly, the purpose of fuel purchase agreements is to use them to generate electricity, electricity purchase contracts for use in sales to end-customers, and electricity sale contracts for sale of the Group’s own products. The Group also evaluates the existence of derivatives embedded in contracts or financial instruments to determine if their characteristics and risk are closely related to the host contract, provided that when taken as a whole they are not being accounted for at fair value. If they are not closely related, they are recorded separately and changes in value are accounted for directly in the statement of comprehensive income. g.6) Derecognition of financial assets and liabilities Financial assets are derecognized when: - The contractual rights to receive cash flows from the financial asset expire or have been transferred or, even when, the Group has assumed a contractual obligation to pay these cash flows to one or more recipients. 219 Annual Report Enel Américas 2020- The Group has substantially transferred all the risks and rewards of their ownership, or, if it has neither assigned nor retained substantially all the risks and rewards, when it does not retain control of the financial asset. For transactions in which the Group retains substantially all the inherent risks and rewards of ownership of the financial asset assigned, it recognizes them as a financial liability for the consideration received. Transactions costs are recognized in profit and loss by using the effective interest method (see Note 3.g.1). Financial liabilities are derecognized when they are extinguished; i.e., when the obligation arising from the liability has been paid or cancelled or has expired. An exchange for a debt instrument with substantially different conditions, or a substantial modification in the current conditions of an existing financial liability (or a part thereof), is recorded as a cancellation of the original financial liability, and a new financial liability is recognized. g.7) Offsetting of financial assets and financial liabilities The Group offsets financial assets and liabilities and the net amount is presented in the statement of financial position only when: - - there is a legally binding right to offset the amounts recognized; and the Group intends to settle them on a net basis, or to realize the asset and settle the liability simultaneously. Such rights may only be legally enforceable in the normal course of business, or in the event of default, or in the event of insolvency or bankruptcy, of one or all the counterparties. g.8) Financial guarantee contracts The financial guarantee contracts, defined as the guarantees issued by the Group to third parties, are initially measured at their fair value, adjusted for transaction costs that are directly attributable to the issuance of the guarantee. Subsequent to initial recognition, financial guarantee contracts are recognized at the higher of: - - the amount of the liability determined in accordance with the accounting policy described in Note 3.m; and the amount of the asset initially recognized less, if applicable, any accumulated amortization recognized in accordance with the revenue recognition policies described in Note 3.q. h) Fair value measurement The fair value of an asset or liability is defined as the price that would be received from the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurement assumes that the transaction to sell an asset or transfer a liability occurs in the principal market, namely, the market with the greatest volume and level of activity for that asset or liability. In the absence of a principal market, it is assumed that the transaction is carried out in the most advantageous market available to the entity, namely, the market that maximizes the amount that would be received to sell the asset or minimizes the amount that would be paid to transfer the liability. In estimating fair value, the Group uses valuation techniques that are appropriate for the circumstances and for which there is sufficient data to perform the measurement where it maximizes the use of relevant observable data and minimizes the use of unobservable data. Given the hierarchy explained below, data used in the valuation techniques, assets and liabilities measured at fair value can be classified at the following levels: 220220 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationLevel 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2: Inputs other than quoted prices included in Level 1 that are observable for the assets or liabilities, either directly (i.e. as prices) or indirectly (i.e. derived from prices). The methods and assumptions used to determine the fair values at Level 2 by type of financial assets or financial liabilities take into consideration estimated future cash flows discounted at market rates. Future cash flows for financial assets and financial liabilities are discounted with the zero-coupon interest rate curves for each currency (these valuations are performed using external tools such as Bloomberg); and Level 3: Inputs for assets or liabilities that are not based on observable market data (unobservable inputs). The Group takes into account the characteristics of the asset or liability when measuring fair value, in particular: - For non-financial assets, fair value measurement takes into account the ability of a market participant to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset at its highest and best use; - For liabilities and equity instruments, the fair value measurement assumes that the liability would not be settled, and an equity instrument would not be cancelled or otherwise extinguished on the measurement date. The fair value of the liability reflects the effect of non-performance risk, namely, the risk that an entity will not fulfill the obligation, which includes but is not limited to, the Company’s own credit risk; - For derivatives not traded in active markets, the fair value is determined by using the discounted cash flow method and generally accepted options valuation models, based on current and future market conditions as of the closing date of the financial statements. This methodology also adjusts the value based on the Company’s own credit risk (Debt Valuation Adjustment, DVA), and the counterparty risk (Credit Valuation Adjustment, CVA). These CVA and DVA adjustments are measured on the basis of the potential future exposure of the instrument (asset or liability position) and the risk profile of both the counterparties and the Group itself. - For financial assets and financial liabilities with offsetting positions in market risks or counterparty credit risks, measuring the fair value on a net basis is allowed. However, this must be consistent with the manner in which market participants would price the net risk exposure at the measurement date. Financial assets and financial liabilities measured at fair value are shown in Note 23.3. i) Investments accounted for using the equity method The Group’s interests in joint ventures and associates are recognized using the equity method of accounting. Under the equity method of accounting, an investment in an associate or joint venture is initially recognized at cost. As of the acquisition date, the investment is recognized in the statement of financial position based on the share of equity that the Group’s interest represents in capital, adjusted for, if appropriate, the effect of transactions with the Group plus any goodwill generated in acquiring the company. If the resulting amount is negative, zero is recorded for that investment in the statement of financial position, unless the Group has a present obligation (either legal or constructive) to reinstate the Company’s equity position, in which case a provision is recognized. The financial statements of associates or joint ventures are prepared for the same reporting period as the Group. When required, adjustments are made to align the accounting policies with those of the Group. Goodwill from the associate or joint venture is included in the carrying amount of the investment. It is not amortized but is subject to impairment testing as part of the overall investment carrying amount when there are indicators of impairment. Dividends received from these investments are deducted from the carrying amount of the investment, and any profit or loss 221 Annual Report Enel Américas 2020obtained from them to which the Group is entitled based on its ownership interest is recognized under “Share of profit (loss) of associates accounted for using equity the method of accounting.” The companies classified as “Associates” and “Joint Ventures” (see Notes 2.5 and 2.6, respectively) in these consolidated financial statements are accounted for under the equity this method of accounting. j) Inventories Inventories are measured at their weighted average acquisition cost or the net realizable value, whichever is lower. The net realizable value is the estimated selling price in the ordinary course of business less the applicable costs to sell. The cost of inventories includes all costs of purchase and all necessary costs incurred in bringing the inventories to their present location and condition net of trade discounts and other rebates. k) Non-current assets (or disposal groups of assets) held for sale or held for distribution to owners and discontinued operations Non-current assets, including property, plant and equipment; intangible assets; investments accounted for using the equity method of accounting and joint ventures and disposal groups (a group of assets for disposal or distribution together with liabilities directly associated with those assets), are classified as: - Held for sale, if their carrying amount will be recovered mainly through a sale transaction rather than through continuing use, or - Held for distribution to owners, when the entity is committed to distribute the assets (or disposal groups) to the owners. For the above classifications, the assets must be available for immediate sale or distribution in their present condition and their sale or distribution must be highly probable. For a transaction to be considered highly probable, management must be committed to the sale or distribution and actions to complete the transaction must have been initiated and should be expected to be completed within one year from the date of classification. Actions required to complete the sale or distribution plan should indicate that it is unlikely that significant changes to the plan can be made or that the plan will be cancelled. The probability of shareholders’ approval (if required in the jurisdiction) should be considered as part of the assessment of whether the sale or distribution is highly probable. The assets or disposal groups classified as held-for-sale or held for distribution to owners are measured at the lower of their carrying amount and fair value less costs to sell or costs to distribute, as appropriate. Depreciation and amortization on these assets cease when they meet the criteria to be classified as non-current assets held for sale or held for distribution to owners. Assets that are no longer classified as held for sale or held for distribution to owners, or are no longer part of a disposal group, are measured at the lower of their carrying amounts before being classified as held for sale or held for distribution, less any depreciation, amortization or revaluation that would have been recognized had they had not been classified as held for sale or held for distribution to owners and their recoverable amount at the date of reclassification non-current assets. Non-current assets held for sale and the components of the disposal groups classified as held for sale or held for distribution to owners are presented in the consolidated statement of financial position as a single line item within assets referred to as 222222 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information“Non-current assets or disposal groups held for sale or for distribution to owners”, and the related liabilities are presented as a single line item within liabilities referred to as “Liabilities included in disposal groups held for sale or for distribution to owners”. The Group classifies as discontinued operations those components of the Group that either have been disposed of, or are classified as held for sale and: - - represent a separate major line of business or geographical area of operations; is part of a single coordinated plan to dispose of a separate major line of business or geographical area of operations; or - is a subsidiary acquired exclusively with a view to resale it. The after-tax results of discontinued operations are presented in a single line of the statement of comprehensive income referred to as "Profit (loss) from discontinued operations", as well as the gain or loss recognized from the measurement at fair value less costs to sell or from the disposal of the assets or groups for disposal comprising the discontinued operation. l) Treasury shares Treasury shares are presented deducting the caption “Total equity” in the consolidated statement of financial position and measured at acquisition cost. Gains and losses from the disposal of treasury shares are recognized directly in “Total Equity – Retained earnings (losses)”, without affecting profit or loss for the period. m) Provisions Provisions are recognized when the Group has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. When a provision is measured using the cash flows estimated to settle the present obligation, it´s carrying amount is the present value of those cash flows (when the effect of the time value of money is material). The unwinding of the discount is recognized as finance cost. Incremental legal costs expected to be incurred in resolving a legal claim are included in measuring of the provision. Provisions are reviewed at the end of each reporting period and adjusted to reflect the current best estimate. If it is no longer probable that an outflow of resources embodying economic benefits will be required to settle the obligation, the provision is reversed. A contingent liability does not result in the recognition of a provision. Legal costs expected to be incurred in defending a legal claim are expensed as incurred. Significant contingent liabilities are disclosed unless the likelihood of an outflow of resources embodying economic benefits is remote. m.1) Provisions for post-employment benefits and similar obligations Certain of the Group’s companies have entered into pension and other similar commitments with their employees. Those defined benefit and defined contribution commitments are basically through pension plans, except for those related to certain benefits in lieu of payment, basically commitments to supply electric energy, which, due to their nature have not been outsourced and their coverage is provided through the related internal provision. 223 Annual Report Enel Américas 2020For defined benefit plans, the companies record the related expense for these commitments following the accrual criteria over the service life of the employees through timely actuarial studies performed as of the reporting date calculated applying the projected credit unit method. The cost of past services which correspond to variances in benefits is recognized immediately. The defined benefit plan obligations in the statement of financial position represent the present value of the accrued obligations, upon deduction of the fair value of the different plans’ assets, if any. For each defined benefit plan, if the difference between the actuarial liability for past services and the plan assets is positive, it is recognized under line item “Provisions for employee benefits” in liabilities in the consolidated statement of financial position, and if such difference is negative is recognized under line item “Other financial assets” in the consolidated statement of financial position, provided that is recoverable for the Group, usually through a reduction in future contributions and taking into consideration the limit established in IFRIC 14, IAS 19 The Limit on a Defined Benefit Asset, Minimum Funding Requirements, and their interaction. Actuarial gains and losses arising from measurements of both the plan liabilities and the plan assets, including the limit in IFRIC 14, are recognized directly as a component of other comprehensive income. Contributions to defined contribution benefit plans are recognized as an expense when the employees have rendered provide their services. n) Translation of balances in foreign currency Transactions performed by each entity in a currency other than its functional currency are recognized using the exchange rates prevailing as of the date of the transactions. During the period, differences arising between the prevailing exchange rate at the date of the transaction and the exchange rate as of the date of collection or payment are recognized as “Foreign currency translation differences” in the consolidated statement of comprehensive income. Likewise, at the end of each reporting period, balances receivable or payable denominated in a currency other than each entity’s functional currency are remeasured using the closing date exchange rate. Any differences are recorded as “Foreign currency translation differences” in the consolidated statement of comprehensive income. The Group has established a policy to hedge the portion of revenue from its consolidated entities that is directly linked to variations in the U.S. dollar, through obtaining financing in such currency. Exchange differences related to this debt, which is regarded as the hedging instrument in cash flow hedge transactions, are recognized, net of taxes, in other comprehensive income and are accumulated in an equity reserve and recorded in profit or loss in the term in which the cash flows hedged will be realized. This term has been estimated as ten years. o) Classification of balances as current or non-current In these consolidated statements of financial position, assets and liabilities expected to be recovered or settled within twelve months are presented as current assets or liabilities, except for post-employment and other similar obligations. Those assets and liabilities expected to be recovered or settled in more than twelve months are presented as non-current items. Deferred income tax assets and liabilities are classified as non-current. When the Group has any obligation that mature in less than twelve months but can be refinanced over the long term at the Group’s discretion, through unconditionally available loan agreements with long-term maturities, such obligations are classified as non-current liabilities. 224224 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Informationp) Income taxes Income tax expense for the period is determined as the sum of current taxes from each of the Group’s subsidiaries and results from applying the tax rate to the taxable income for the period, after deductions allowed have been made, plus any changes in deferred tax assets and liabilities and tax credits, both for tax losses and deductions. Differences between the carrying amount and tax basis of assets and liabilities generate deferred tax assets and liabilities, which are calculated using the tax rates expected to be applied when the assets and liabilities are realized or settled, based on tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax assets are recognized for all deductible temporary differences, tax losses and unused tax credits to the extent that it is probable that sufficient future taxable profits exist to recover the deductible temporary differences and use the tax credits. Such deferred tax asset is not recognized if the deductible temporary difference arises from the initial recognition of an asset or liability that: - - did not arise from a business combination; and at initial recognition provide it affected neither accounting profit nor taxable profit (loss). With respect to deductible temporary differences associated with investments in subsidiaries, associates and joint arrangements, deferred tax assets are recognized only to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profits will be available against which the temporary differences can be utilized. Deferred tax liabilities are recognized for all temporary differences, except for those derived from the initial recognition of goodwill and those that arose from investments in subsidiaries, associates and joint ventures in which the Group can control their reversal and where it is probable that they will not be reversed in the foreseeable future. Current tax and changes in deferred tax assets or liabilities are recorded in profit or loss or in equity, depending on where the gains or losses that triggered these tax entries have been recognized. Any tax deductions that can be applied to current tax liabilities are credited to earnings within the line item “Income tax expenses”, except when uncertainty exists about their tax realization, in which case they are not recognized until they are effectively realized, or when they relate to specific tax incentives, in which case they are recorded as grants. At the end of each reporting period, the Group reviews the deferred tax assets and liabilities recognized, and makes, any necessary adjustments based on the results of this analysis. Deferred tax assets and deferred tax liabilities are offset in the consolidated statement of financial position if the Group has a legally enforceable right to set off current tax assets against current tax liabilities, and only when the deferred taxes relate to income taxes levied by the same tax authority. q) Revenue and expense recognition Revenue is recognized when (or as) the control over a good or service is transferred to the customer. Revenue is measured based on the consideration to which the Group is expected to be entitled for said transfer of control, excluding the amounts collected on behalf of third parties. The Group analyzes and takes into consideration all the relevant facts and circumstances for revenue recognition, applying the five-step model established by IFRS 15: 1) Identifying the contract with a customer; 2) Identifying the performance obligations; 3) Determining the transaction price; 4) Allocating the transaction price; and 5) Recognizing revenue. 225 Annual Report Enel Américas 2020The following are the criteria for revenue recognition by type of good or service provided by the Group: • Electricity supply (sale and transportation): Corresponds to a single performance obligation that transfers to the customer a number of different goods/services that are substantially the same and that have the same transfer pattern. Since the customer receives and simultaneously consumes the benefits provided by the Company, it is considered a performance obligation met over time. In these cases, the Group applies an output method to recognize revenue in the amount to which it is entitled to bill for electricity supplied to date. - Generation: revenue is recorded according to the physical deliveries of energy and power, at the prices established in the respective contracts, at the prices established in the electricity market by the current regulations, or at the marginal cost of energy and power, depending on whether they are unregulated customers, regulated customers or energy trading in the spot market are involved, respectively. - Distribution of electricity: Revenue is recognized based on the amount of energy supplied to customers during the period, at prices established in the related contracts or at prices stipulated in the electricity market by applicable regulations, as appropriate. These revenues include an estimate of the service provided and not invoiced, at the reporting date (see Notes 2.3 and 28 and Appendix 2.2). • Other Services: mainly the provision of supplementary services to the electricity business, construction of works and engineering and consulting services. Customers control committed assets as they are created or improved. Therefore, the Company recognizes this revenue over time based on the progress, measuring progress through output methods (percentage of completion through the present date, milestones reached, etc.), or costs incurred (resources consumed, hours of labor spent, etc.), as appropriate in each case. • Sale of goods: revenue from the sale of goods is recognized at a certain time, when control of the goods has been transferred to the customer, which generally occurs at the time of the physical delivery. Revenues are measured at the independent sale price of each good, and any type of applicable variable compensation. In contracts in which multiple committed goods and services are identified, the recognition criteria will be applied to each of the identifiable performance obligations of the transaction, based on the control transfer pattern of each good or service that is separate and an independent selling price allocated to each of them, or jointly to two or more transactions, when these are linked to contracts with customers that are negotiated with a single business purpose and the goods and services committed represent a single performance obligation and their selling prices are not independent. Enel Américas determines the existence of significant financing components in its contracts, adjusting the value of the consideration if applicable, to reflect the effects of the time value of money. However, the Group applies the practical expedient provided by IFRS 15, and will not adjust the value of the consideration committed for the purpose of a significant financing component, if it expects, at the beginning of the contract, that the period between the payment and the transfer of goods or service to the customer is one year or less. The Group excludes the gross revenue of economic benefits received when acting as an agent or broker on behalf of third parties from the revenue amount. The Group only records as revenue the payment or commission to which it expects to be entitled. Because the Group mainly recognizes revenue for the amount to which it has the right to invoice, it has decided to apply the disclosure practical expedient provided in IFRS 15, through which it is not required to disclose the aggregate amount of the transaction price allocated to the performance obligations not met (or not met partially) at the end of the reporting period. In addition, the Group evaluates the existence of incremental costs of obtaining a contract and costs directly related to the fulfillment of a contract. These costs are recognized as an asset, if their recovery is expected, and amortized in a manner consistent with the transfer of the related goods or services. As a practical expedient, the incremental costs of obtaining a contract are recognized as an expense, if the depreciation period of the asset that has been recognized is one year or less. 226226 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationCosts that do not qualify for capitalization are recognized as expenses at the time they are incurred, unless they are explicitly attributable to the customer. As of December 31, 2020, and 2019 the Group has not incurred costs to obtain or perform a contract which meet the conditions for their capitalization. The costs incurred to obtain a contract are substantially commission payments for sales that, although are incremental costs, relate to short-term contracts or performance obligations that are met at a certain time, therefore, the Group has decided to recognize these costs as an expense when they occur. Interest income (expenses) are recorded considering the effective interest rate applicable to the principal pending amortization, during the related accrual period. r) Earnings per share Basic earnings per share are calculated by dividing net income attributable to shareholders of the Parent Company by the weighted average number of ordinary shares outstanding during the period, excluding the average number of shares of the Company held by other subsidiaries within the Group, if any. Basic earnings per share for continuing and discontinued operations are calculated by dividing net income from continuing and discontinued operations attributable to shareholders of the Company (the numerator) by the weighted average number of shares of common stock outstanding (the denominator) during the year, excluding the average number of shares of the Company held by other subsidiaries within the Group. Diluted earnings per share is calculated by dividing profit attributable to shareholders of the Parent Company by the weighted average number of ordinary shares outstanding during the period plus the weighted average number of ordinary shares of that would be issued on conversion of all the potential dilutive securities into ordinary shares, if any. s) Dividends Article No. 79 Law No. 18,046 of the Chilean Corporations Law, establishes that, unless unanimously agreed otherwise by the shareholders of all issued shares, listed corporations must distribute a cash dividend to shareholders on an annual basis, pro rata among the shares owned or the proportion established in the Company’s by-laws if there are preferred shares, of at least 30% of profit for each year, except when accumulated losses from prior years must be absorbed. As it is practically impossible to achieve a unanimous agreement given Enel Américas’ highly fragmented share ownership, at the end of each reporting period the amount of the minimum statutory dividend obligation to its shareholders is determined, net of interim dividends approved during the period, and then accounted for in “Trade and other payables, current” and “Current accounts payable to related parties”, as appropriate, and recognized in equity. The interim and final dividends are deducted from equity when approved by the relevant authority, which in the first case is normally the Board of Directors and in the second case is the responsibility of the shareholders as agreed at a General Shareholders’ Meeting. t) Share issuance costs Share issuance costs, only when they represent incremental expenses directly attributable to the transaction, are recognized directly in net equity as a deduction from “Share premiums,” net of any applicable taxes. If the share premium account has a zero balance or if the costs described exceed the balance, they are recognized in “Other reserves”. Subsequently, these costs must be deducted from paid-in capital, and this deduction must be approved at the Extraordinary Shareholders’ Meeting, which occurs immediately after the date on which the disbursements were incurred. 227 Annual Report Enel Américas 2020 Share issuance and placement expenses directly related to a probable future transaction are recorded as prepaid expenses in the statement of financial position. These expenses are recorded in equity upon issuance and placement of the shares, or in profit or loss when the conditions change and the transaction is no longer expected to occur. u) Statement of cash flows The statement of cash flows reflects changes in cash and cash equivalents that took place during the period, determined with the direct method. It uses the following definitions and related meanings: • • • • Cash flows: inflows and outflows of cash or cash equivalents, which are defined as highly liquid investments maturing in less than three months with a low risk of changes in value. Operating activities: the principal revenue-producing activities of the Group and other activities that cannot be considered investing or financing activities. Investing activities: the acquisition and disposal of long-term assets and other investments not included in cash and cash equivalents. Financing activities: activities that result in changes in the size and composition of the total equity and borrowings of the Group. NOTE 4. Sector regulation and electricity system operations i. Regulatory Framework: a) Argentina Argentina has shown signs of intervention in the electric market since the 2002 crisis. Within this context, the Government announced in 2012 its intention to replace the regulatory framework with a framework based on average cost. Resolution No. 95/2013 was issued in March 2013, significantly changing the system for the remuneration of generation companies and setting new prices for capacity depending on the type of technology used and availability. It also established new values for the remuneration of non-fuel variable costs in addition to consider additional remuneration for energy generated. This Resolution also defined remuneration by type of technology and size of the plants, establishing for each case a recognition of fixed costs (to be determined based on fulfillment of availability), and variable costs plus additional remuneration (these two concepts are determined based on energy generated). Part of the additional remuneration is consolidated in a trust for future investments. The commercial management and fuel delivery are centralized by Compañía Administradora del Mercado Mayorista de Electricidad Sociedad Anónima (CAMMESA). On February 2, 2017, the Secretariat Electric Energy (SEE) issued Resolution No. 19/2017 replacing Resolution No. 22/2016 issued by the SEE, which set the remuneration guidelines for existing power generating plants. Such resolution defines the minimum remuneration for the energy capacity by technology and scale, and allows thermal units to offer availability commitments with differentiate remuneration that is equal for all technologies. Thermal generators may declare the price of firm capacity to be committed for a three-year period per unit each summer period, and may also provide the information by summer and winter periods (adjustments can be made during the period). Remuneration will be received by each generation unit with committed capacity and will be proportional to its compliance, with the minimum remuneration calculated based on the minimum price. In addition, the thermal generator could offer additional capacity availability for bi-annual periods, which will be auctioned at a maximum price. 228228 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information In relation to hydroelectric power plants, a new scheme is defined to assess energy capacity based on actual energy capacity available (that will result in a higher value for capacity than under the previous regulation). Likewise, a base capacity amount and an additional selected amount are defined for the period from May 2017 to October 2017, and another amount beginning in November 2017. The remuneration amounts included in Resolution No. 19/2017 are denominated in U.S. dollars and will be translated to Argentine pesos using the last business day exchange rate published by the Argentine Central Bank, and will be effective for the term established in CAMMESA’s procedures. Subsequently, the SEE established that the exchange rate to be used to translate to Argentinean pesos should correspond to the spot exchange rate from the day before the transaction due date, starting from November 2017. Accordingly, the SEE instructed CAMMESA to acquire natural gas under fixed and uninterruptable conditions through the Electronic Gas Market (MEGSA) to supply thermal power generation. On Wednesday, November 7, 2018, Resolution 2018-70-APN-SGE was published in the Official Gazette, enabling MEM Generators, Co-Generators, and Self-Generators to acquire their own supply of fuel for electricity generation, and allowing generators to obtain an additional margin when producing using their own fuel, only if the purchase price of gas is lower than the price recognized by CAMMESA. With this resolution, generators charge the Variable Cost of Production (CVP) according to the prices recognized and CAMMESA is responsible for continued supply to all other generators that do not acquire their own fuel. On February 28, 2019, SRR and ME Resolution No. 1/2019 replaced SEE Resolution No. 19/2017 which established the guidelines for the remuneration of existing power plants. On September 12, an agreement was entered into between Enel Generación Costanera, Enel Generación El Chocón, Enel Trading and CAMMESA, which establishes that there are no pending issues to be claimed on Availability Contracts and other financing contracts. This agreement provides the aforementioned companies with the following benefits: for Costanera the risk of penalties, interest contingencies and the waiver of future tariffs (provided in the agreements) were eliminated. In addition, this agreement allows for the collection of receivables assigned to Enel Generación Costanera in the transaction from Enel Generación El Chocón and Enel Trading. In December 2019, through Resolution No. 12/2019, the new government decided to repeal Resolution No. 2018-70-APN-SGE, which allowed companies to manage their own fuel supply, leaving CAMMESA in charge again. On February 27, 2020, the Department of Energy issued Resolution SE 31/2020, which replaced SRR and ME Resolution No. 1/2019, effective from February 1, 2020. Under this resolution, remuneration prices are set in pesos at the exchange rate of ARS 60 = US$ 1 and the resolution established the update of values in Argentinean pesos. Resolution SE 31/2020 defines minimum power remuneration for technology and scale according to real availability, and additionally for thermal units the possibility of offering commitments on availability with equal differential remuneration for all technologies. CAMMESA will enable the thermal generator to file a statement up to 30 days before the beginning of each quarterly period stating the firm power value to be committed by each unit, differentiating by summer, winter and the remainder of the year (adjustments can be made in the same period). The remuneration that a unit with power commitment will receive will be proportional to its compliance, and the minimum value is calculated based on the minimum price. The power remuneration will be affected depending on the usage factor of thermal generation equipment. Through Decree 732 dated September 4, 2020, the Secretariat of Energy became part of the Ministry of Economy. Non-Conventional Renewable Energy In Argentina, on October 21, 2015, Law No. 27,191 for Renewable Energy was issued, replacing Law No. 26,190. The new regulation postpones reaching an 8% share in the national demand of energy with renewable sources for generation to December 31, 2017 and establishes a second stage goal of reaching a 20% share in 2025 by establishing milestones of 12% at the end of 2019 , 16% at the end of 2021 and 18% at the end of 2023. The enacted law creates a Fiduciary Fund (“FODER”) to finance works, grant tax benefits for renewable energy projects and establish exemptions for specific taxes and nationwide, provincial and 229 Annual Report Enel Américas 2020municipality royalties until December 31, 2025. Customers classified as Large Users (>300 Kw) will comply on an individual basis with the renewable share goals, establishing that the price of contracts will not exceed US$ 113 per MWh, and establishing sanctions for those not fulfilling the goals. Tariff Revisions On February 1, 2017, ENRE issued Resolution No. 64/2017, which finalized the RTI and as a result establishes the annual remuneration recognized to Edesur S.A. of ARS14,539,836,941. In connection with the new tariff structure and charges, MEyM instructed ENRE to limit the VAD increase as a result of the RTI process to be applied beginning on February 1, 2017 to 42% as compared to the VAD currently effective. The application of the remaining VAD increase would be made in two stages: the first stage in November 2017 and the second stage in February 2018. In addition, it instructed ENRE to compensate Edesur S.A. and Edenor S.A. for the difference in VAD as a result of the gradual application of the tariff increases in the RTI, in 48 installments beginning on February 1, 2018, which would be incorporated to the VAD determined on that date. The new regulation also sets the method for updating the revenues of distribution companies based on fluctuations in economic prices, and all other matters related to service quality and supply requirements. On December 1, 2017 through Resolution 602 the ENRE resolved to approve Edesur’s new Inherent Distribution Cost value, through the application of the mechanisms foreseen in the RTI. It jointly issued the Tariff Tables that reflect the Seasonal Prices (generation and transportation) contained in the Department of Electrical Energy Resolution No. 1091 of 2017, as well as the new subsidy schemes for the Social Tariff and consumption savings bonus for residential users. As a continuation of the same event, on January 31, 2018, the ENRE approved the new values in effect as of February 1, 2018. These tables include a new reduction in the subsidies of the wholesale price, taking it to a value of 90% of the seasonal price in 2017. In addition, it maintained the subsidies on the social tariff and a lower stimulation plan bonus, for reduction of electrical consumption. Accordingly, the EDESUR tariff reaches ARS 2.2828 / kWh without taxes beginning on February 1, 2018. Simultaneously and in order to resume the normal structural conditions, the Argentine National Government decided not to extend the validity of the Electric Emergency Law (effective until December 31, 2017) and the Economic Emergency (effective until January 6, 2018). In addition, on April 17, 2017, the MEyM issued a note which instructs the SEE to determine within 120 working days if there are pending obligations of the Agreement and the treatment to be granted, and to issue a final resolution report during the following 30 days. For these purposes, the SEE requested that Edesur, ENRE and CAMMESA provide the relevant information. On July 30, 2018, and within the framework of the Ministry of Energy’s intention to make tariff increases more gradually, a commitment was signed between the MINE and Edesur through which Edesur would receive 50% of the increase related to the adjustment mechanism foreseen in the tariff beginning on August 1, 2018 and would receive the remaining 50% in 6 adjusted installments beginning on February 1, 2019, and maintain the Investments Plan agreed in the RTI. The same commitment was also signed by EDENOR simultaneously. Under the agreed commitment, on August 1, 2018, 50% (7.925%) of the increase corresponding to the August 2018 application of the MMC to Distribution Added Value was applied. Together with this increase the intention to eliminate subsidies to the wholesale price of energy continued, which had been delayed by the devaluation in June and July. With an increase of almost 50%, this led to the price of the Distributors’ Large Users (demand greater than 300 kW/month) at approximately ARS$2,700 per MWh and the rest of the distributors’ demand at approximately ARS$1,400 per MWh. In addition, the ex-post adjustments were applied corresponding to the reimbursement of the AT Transportation costs of the previous Tariff Schedule (amendment of regulations) and to the amounts recognized as compensation for the Debit/Credit tax and the Safety and Hygiene Rates. On December 10, ENRE issued Resolution 318/2018 in which it approved the methodology and updated the values of remuneration for the sub-transmission service (PAFTT) offered among the distributors Edesur, Edenor and Edelap, effective 230230 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Informationbeginning on March 6, 2017. This was pending in the Comprehensive Tariff Review. This mechanism makes it possible to remunerate operating and maintenance costs, as well as the recognition of the related losses and the transfer to the tariff of the costs incurred by Edesur for this concept. Additionally, by means of Resolution No. 366 of the Secretariat of Energy of December 27, 2018, it was announced that the new supply cost wasapproximately US$ 68 perMWh, which was 13% lower than that established in August 2018 due to the improvements in the gas contracts obtained by CAMMESA and the decrease in the international price of oil. In addition, the future Seasonal Prices to be transferred to the end users’ tariff continue with subsidy reductions foreseen by the authorities going from around 30% in February to a 15% subsidy in August 2019. However, these prices translated into local currency mean an initial increase of 26% in February 2019 and subsequent increases of 6% in May and August 2019. On February 1, 2019, ENRE Resolutions 24/2019 and 26/2019 were issued in the Official Gazette. The former approved the values of the Rate Table effective from the invoicing related to the reading of meters after midnight on February 1, 2019 according to the increases in the Energy Stabilized Price and the Reference Price of power, as established by Resolution SGE 366/2019. Also, the FNEE increase is included, from ARS$ 15.50 per MWh to ARS$ 80 per MWh, while the AT Transport Cost had no changes. The second resolution (Resolution 26/2019) approves the new values of the Own Distribution Cost effective from the same period as the first (February 2019), stating that they will be applied from March 1, 2019. In relation to the Social Rate that was no longer funded by the National State from January 1, 2019, both the Autonomous City of Buenos Aires and the Province of Buenos Aires undertook the commitment of continuing with this effective system. This is the reason why ENRE provides instructions Edesur to continue the application of the Social Rate, including Maximum Amounts. On May 2, 2019, the new table of rates was issued; containing an update of the Seasonal Price for May through July 2019. The new feature is a differential price for the residential segment in order to keep it from increasing (per measures announced by the government on April 17, 2019). It will be applied beginning with consumption starting on May 1, 2019. On July 18, 2019 by means of Resolution No. 189/19, ENRE finalized the regulations to be applied to the User-Generators (distributed generation). The most relevant aspects of the resolution are: • • • The approval of the Injection Tariffs for Users-Generators of the various tariff categories, corresponding to the Stabilized Energy Prices (PEE) and the Stabilized Transport Price (PET). The parameters established for the Users-Generators of the T1 category with respect to the maximum value registered between the energy acquired or demanded and the energy injected. The parameters set for the User-Generators of the T2 and T3 categories with respect to the Capacity to be Invoiced for Distribution Service which will be the maximum value registered between the power consumed and the power injected. Note that the whole set of regulations issued from those under Law 27,424 (on the Promotion of Distributed Generation) to ENRE Resolutions No. 111/19 and 189/19 affirm the position of Argentine regulation for the protection of Edesur's remuneration. On September 19, 2019, Edesur entered into a Rate Chart Maintenance Agreement with the National Government, by means of which the latter instructed ENRE, during the six-month period starting from August 1, 2019, to maintain the rate charts effective prior to such period for all tariff categories, which implies that Edesur will continue to receive the compensations included therein due for previous recoveries and deferrals (Resolution No. 26/19 issued by ENRE). The difference generated in VAD and the difference related to seasonal prices for the period between August 1, 2019 and December 31, 2019, will be recovered in 7 monthly installments starting from January 1, 2020. Within this framework, an agreement was reached to postpone the payment of all sanctions until March 1, 2020 at their original value plus any adjustments applicable at the time of payment, in 6 monthly installments, and Edesur committed to maintain the quality of its services. On Friday, December 20, 2019, the National Congress approved Law No. 27,541 on Social Solidarity Reactivation of Production in the Public Emergency Framework of The Public Emergency, which declared a public emergency in economic, financial, fiscal, administrative, pension, tariff, energy, health and social matters until December 31, 2020. Article 5 empowers the National Executive Power to maintain the tariffs under federal jurisdiction for electricity and gas and to initiate a process of 231 Annual Report Enel Américas 2020renegotiation of the Comprehensive Tariff Review in force in an extraordinary manner for a maximum period of up to 180 days, aimed at reducing the actual tariff burden on households, businesses and industries for the year 2020. Article 6 enables ENRE to maintain its competency during the emergency by, in Article 7, suspending the validity of the second paragraph of Article 124 of Law No.27,467 On Friday, December 27, 2019, the ENRE, under the provisions of Article 7 of Law No. 27,541, instructed Edesur not to modify the Tariff Schedule in force even though it is no longer subject to federal jurisdiction. On March 17, 2020, through the Need and Urgent Decree issued by the National Executive Power No. 277/2020 an administrator was appointed for ENRE until December 31, 2020. This together with the performance of a technical, legal and financial audit and review of the previous management, where it should provide information and/or documentation to the PEN, and propose actions and measures that should be adopted. On March 25, 2020 DNU 311/2020 was issued setting forth a limitation on the possibility of suspending basic services (180 consecutive days) including for users who had already been notified that they would be disconnected. Note that due to the Group’s efforts, especially through ADEERA, we determined that on the one hand the universe reached was restricted, and on the other this was an unprecedented event in measures of this type given its scope that encompasses telephone, internet and cable television. Although from the point of view of the media, the limitation will be communicated without clarification by the authorities, the fine print restricts the universe of users impacted to those that currently have a social tariff or those that receive some type of allowance or particular subsidy (Public Welfare Entities, Neighborhood Clubs, etc.). On June 18, 2020 and before the expiration of the 180-day term established by Article 5 of Law 27,541 on Production Solidarity and Reactivation, Edesur proactively and through General Manager Note 55, sent a “Report” to ENRE, without implying consent to jurisdiction, which contained a detailed analysis of the evolution of the Integral Rate Review defined under the scope of ENRE Resolution No. 64/17, also considering its comparison with the actual evolution from the effective date thereof on February 1, 2017, to December 31, 2020. Accordingly, the “Report” would be part of the Extraordinary Tariff Review established by that law. It was accompanied by the relevant claim for the related tariff update. Simultaneously, notes and copies were issued to the licensors (CABA and PBA) and the Secretariat of Energy, different municipalities in the concessions area, and the related public defenders’ offices. Finally, and almost simultaneously, on June 19, 2020 the Need and Urgent Decree (DNU) No. 543 was published in the Official Gazette, establishing, in the first place, the 180-day extension with a new deadline for this review on December 17, 2020. Secondly, it extended the benefits established by DNU 311/20 (restrictions to disruption of energy supply) in the case of users recording payment default in up to 6 consecutive or alternate bills (previously in 3), with due dates from March 1, 2020. In order to progress toward a solution that allows for regularization of the debts of the authorities of the Province of Buenos Aires and the National State in relation to the supply in Underprivileged Neighborhoods, on August 8, 2020, authorities of Edesur met with the Governor of the Province of Buenos Aires. The proposal made by Edesur consists in an agreed procedure that guarantees to the Government of the Province of Buenos Aires that the funds that are received for that purpose will be used by Edesur exclusively for the execution of the electrical infrastructure in that Province. Decree 756 was issued on September 21, 2020 and extends the benefits of DNU 311/2020 and 543/2020 in case of default or lack of payment of up to seven (7) consecutive or alternate invoices, due from March 1, 2020 for vulnerable customers (previously 3 and then 6); and extension of the term of application up to December 31, 2020. On December 1, 2020, the lawyer María Soledad Manin (D.N.I. No. 28.447.869) was named as administrator for ENRE beginning on November 11, 2020, under the conditions and in accordance with the terms of Article 1 of Decree No. 277 of March 16, 2020. The most significant aspects of such article are summarized below. On December 17, 2020, the National Executive Power issued DNU 1020, which postpones the tariff freeze for a maximum of 90 days, or until the tariff chart associated with a Transition Agreement becomes effective, whichever occurs first. It begins the Comprehensive Tariff Renegotiation Process, the final result of which will be a Final Renegotiation Agreement within a term lower than 2 years. This negotiation exclusively falls upon the regulatory entities. It authorizes regulators to set transition rates 232232 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Informationand segment rate categories. And for the purpose of complying with that indicated above, the DNU assigns powers to the entities (ENRE and ENARGAS). These powers include, in addition to those required by renegotiation processes, the capacity to perform transactions and/or settlements, compensations, etc. On December 27, 2020, authorized representatives of the Argentine Government, the Province of Buenos Aires, the ENRE, Edenor and Edesur entered into an agreement to formalize the debt payment mechanism associated with the Framework Agreement, where companies assumed the commitment to assign those funds to works to improve the energy supply service. b) Brazil The legislation in Brazil allows the participation of private equity in the electricity sector, upholds free competition among companies in electricity generation and transmission, and defines criteria to avoid certain levels of economic concentration and/or market practices that may cause a decline in free competition. In relation to the indicative plans made by authorities based on the contract requirements stated by distribution companies, the Ministry of Energy is involved in the expansion of the electricity system, both setting capacity quotas by technology and, promoting separate tender processes for thermal, hydraulic or renewable energies, or directly holding tender processes for specific projects. In addition, the operation is centrally where an independent operator (National System Operator “ONS” in its Portuguese acronym) coordinates centralized load dispatch based on variable production costs and seeks to ensure the supply of demand at minimum cost for the system. The spot market price is denominated Difference Settlement Price (PLD). Generation companies are entitled to sell their energy on the regulated or unregulated market through contracts and trade their surpluses or deficits on the spot market. The unregulated market is aimed at significant users, with a limit of 2000 kW if they buy energy from any source or 500 kW if they buy Non-Conventional Renewable Energy (NCRE) *(this limit changed to 2,500 kW from July 1, 2019, and to 2,000 kW from January 1, 2020 and will change to 1,500 kW, 1,000kW and 500kW, respectively from January 1, 2021, 2022 and 2023). In the unregulated market, suppliers and their clients directly negotiate energy purchase conditions. In the regulated market, where distribution companies operate, the energy purchase must be performed through a bidding process instead, which is coordinated by the National Electricity Agency (“ANEEL” in its Portuguese acronym). Accordingly, the regulated purchase price used in the determination of tariffs for end users is based on average prices of open bids, and there are separate bidding processes for existing and new energy. Bidding processes for new energy consider long-term generation contracts in which new generation projects must address the growth of demand foreseen by distributors. The open bids for existing energy consider shorter contractual terms and are intended to address the distributors’ contractual requirements needs arising from maturity date of previous contracts. Each bidding process is centrally coordinated, Where ANEEL establishes maximum prices and, as a result, contracts where all distributors involved in the process buy pro rata from each offering generator are entered to. These regulatory mechanisms ensure the creation of regulatory assets/liabilities, whose tariff adjustment for possible deficits will be made from in the subsequent tariff adjustments (March 15 for Enel Distribución Río S.A. (formerly Ampla) April 22 for Enel Distribución Ceará S.A. (formerly Coelce), July 4, for Enel Distribución São Paulo (formerly Eletropaulo) and October 22 for Enel Distribución Goiás). This mechanism has existed since 2001, and is called the Securities Compensation Account - Part A “CVA” in its Portuguese acronym) which is aimed at maintaining consistent operating margins for the dealer by allowing tariff revenue from costs of Part A. The CVA helps maintain market stability and allows for the creation of deferred costs, which can be compensated through rate adjustments based on the necessary rates to compensate deficits from the previous year. These regulatory assets (CVAs and others) are part of the assets that can be compensated at the end of the concession, in the event these cannot be compensated through rates. Accordingly, in compliance with IFRS, these regulatory assets can be recorded in the accounting records (see Note 3.d.1). In 2014, Brazil experienced severe drought conditions. In November 2014, the system reached its maximum risk of energy rationing. The average reservoir limits were 1% below the last rationing. To cover the overcost of energy, the government created 233 Annual Report Enel Américas 2020 the ACR account through bank loans to be paid off within two years through the rates. Payments into the ACR account ended in September 2019, and the remaining balance of this fund was accredited to distributors in October 2019. In January 2015, based on the mismatches between the costs recognized in tariffs and actual costs other than those related to operations of distribution entities, ANEEL began the application of a Pricing System known as “Tariffs Flags” of additional monthly charges over the tariff to the customers, provided that the marginal cost of the system is higher than the regulatory standard. The Tariff Flags System is comprised of three levels of colored flags: Red, Yellow and Green. From January 2015 until the reporting date of these financial statements, the supplemental values of the flags have been changing based on new expectations of future generation costs. The values currently used (since November 2019) for the flags are: • • • • Green flag rate: Favorable generation conditions Yellow flag rate: BRL1,343 per 100 (kWh) Red flag rate - level 1: BRL4,169 per 100 (kWh) Red flag rate - level 2: BRL6,243 per 100 (kWh) In conclusion, under this tariff system the generation cost that is currently transferred to the customer only once a year (when the annual tariff adjustment is performed), will have a variation on a monthly basis and the customer will be able to better manage its electricity consumption. Energy tenders Regarding energy tenders under regulated regime, the Brazilian government performs several tenders each year in order to change the composition of the energy bid. Given the measures to address COVID-19, the tenders in 2020 were postponed and a future date has not yet been defined, based on Ordinance No. 134/2020 issued by the Ministry of Mining and Energy. Energy exports On June 2, 2020, Enel Green Power Cachoeira Dourada S.A. (CDSA) was authorized to export electricity to Argentina and Uruguay, as per MME Ordinance No. 226/2020. The authorization will be effective until December 31, 2022. Energy sales On April 17, 2020 Enel Trading Brasil S.A. (Enel Trading) a company from the Group established for energy sales, was authorized to act as an Electric Energy Commercialization Agent in Brazil. Distributed Generation General features Regulatory REN Resolution 482/2012 and its revision in 2015 regulated the connection of the distributed generation systems to consumers connected to the distribution network, as well as the Electricity Compensation System (“SCEE”), where the energy injected by the Distributed Generation systems is compensated in the energy billed to the consumer that has this system. This situation created a large incentive for investment in Distributed Generation, as it expanded the market share of the companies that created products for sale to consumers. Definitions of Distributed Generation Distributed generation allows the use of any source of renewable energy and qualified co-generation. The term distributed micro-generation refers to power plants with an installed power capacity of up to 75 kilowatts (kW) and distributed mini- generation refers to power plants with higher than 75 kW and less than or equal to 5 MW, which are connected to the distribution network through the consumption units installation.. The regulation prohibits power stations from qualifying as distributed microgeneration when they have been subject to registration, concession, permission or authorization, or have: (i) 234234 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information begun commercial operation; (ii) transferred their electric energy to a distribution concessionary or permission holder, where the distributor has to identify those cases. Reviews, Tariff Adjustment and others The Electricity Compensation System, established by Regulatory Resolution No. 482/12 presents distortions in the remuneration of the distribution and transmission infrastructure, as well as in charges, by consumers who have a Distributed Generation system. These distortions affect the remuneration of the distributors’ investment and also the energy rate of other consumers in the concession area, who do not have distributed generation installed. A review of the regulations is planned for 2021, with changes to the incentives currently in force. Tariff Review of Enel Distribución Rio (2018) On March 13, 2018, ANEEL approved the provisional result of the Fourth Periodic Tariff Review of Enel Distribución Rio, starting from February 15, 2018, which was consolidated upon evaluation of the contributions made in the Public Hearing No. 078/2017. The result leads to an average effect for consumers of 21.04%, and 19.94% for consumers connected to High Voltage – HV, and 21.46% for those connected to Low Voltage – LV. It established the T component of X Factor at 0.00% and technical losses at 9.1%. Tariff Adjustment of Enel Distribución Ceará S.A. (2018) On April 17, 2018, ANEEL approved the result of the adjustment of Enel Distribución Ceará, starting from April 22, 2018. The result leads to an average effect for consumers of 4.96 %, and 7.96% for consumers connected to High Voltage – HV and 3.8% for those connected to Low Voltage – LV. Adjustment of Enel CIEN (2018) Resolution No. 2408, dated October 22, 2018, established the permitted annual revenue (RAP). The values for Enel CIEN are: Garabi I (RAP: BRL 172,667,795.35 and adjusted PA: BRL 6,579,727.76) and Garabi II (RAP: BRL 179,367,079,58 and adjusted PA: BRL 6,834,803.35). Tariff Adjustment of Enel Distribución São Paulo (2018) On July 4, 2018, ANEEL approved the tariffs applicable for consumers. The result of this process was a tariff adjustment index of +16.4%, composed of an economic adjustment of +10.5% and a financial adjustment of +5.9%. Upon removal of the financial adjustment of the previous year (0.6%), the average effect for the consumer was +15.8%, being larger for consumers connected to High Voltage (+17.7%) whereas for those connected to Low Voltage recorded a low increase of 15.1%. Tariff Adjustment of Enel Distribución Goiás S.A. (2018) On October 16, 2018, ANEEL approved the result of the review of Enel Distribución Goiás, starting from April 22, 2018. The result leads to an average effect for consumers of 18.54%, with 26.52% for consumers connected to High Voltage - HV and 15.31% for those connected to Low Voltage – LV. Enel Generación Fortaleza The Fortaleza Thermal Power Generation Plant (CGTF), a thermal power plant that runs on natural gas, had a discrepancy with Petrobras, the power plant's gas supplier, leading to the unilateral termination of the supply contract by Petrobras. Enel filed a lawsuit against Petrobras to reestablish the gas supply to the plant, and secured fuel supply under the court's rulings, until August 31, 2020 when CGTF and Petrobras reached a mutual agreement to withdraw the lawsuit, without prejudice to the maintenance of the contract. These processes are expected to be finalized in the short-term. Proposal for a solution to the short-term lack of market liquidity Brazil has been a short-term illiquid market since 2015, the year in which several legal limits were granted to hydro generators for their assumption of non-hydrological risks. This is because the thermal dispatch performed outside the cost merit order, the import of energy without physical guarantee and the impact of the structuring power plants (Belo Monte, Jirau and Santo Antônio power plants) displaced their generation and exposed them to the short-term market under non-manageable factors unrelated to hydrological risk. Accordingly, the hydro generators would be exempted to pay their debts in the short-term market, which currently amounts to BRL$8 billion and represents about 70% of the total amount recognized of the market. 235 Annual Report Enel Américas 2020After the enactment of Law No. 14,052/2020 on September 8, 2020, which establishes new conditions for renegotiating the hydrological risk, ANEEL opened a public consultation to regulate the compensation of non-hydrological risks assumed by hydropower plants during the period 2013 through the present date. The term to submit contributions ends on October 23, 2020 and, after the issuance of a Regulatory Resolution, the agents will know the individual economic compensation per power plant and the related extension term of their concession, which is limited to 7 years. Considering this information, and subject to the waiver of legal proceedings and payment of their debts through the present date sustained by precautionary measures, the agents will be able to enter into the contract with ANEEL within 60 days after becoming aware of the results. After the enactment of Law 14,052 on September 8, 2020, which establishes new conditions for the renegotiation of hydrological risk, on December 1, ANEEL issued Regulatory Resolution 895/2020 (REN 895/2020) to regulate the compensation of non- hydrological risks assumed by hydropower plants since 2013. As the next steps to take, within 90 days following the REN 895/2020, the CCEE must issue the economic compensation by plant and the related extension period for its concession, limited to 7 years, and the agents will have over 60 days to enter into the agreement and withdraw from the judicial processes. This agreement will resolve the impasse noted by the hydraulic generators in the courts, and will reestablish the liquidity in the Brazilian market in the short term. Official Communication No. 18 of January 4, 2019 ANEEL, under its regulatory attributions, ordered that, when a billing error occurs for reasons attributable to the distributor, the limit of setback to refund to consumers will be 10 years instead of 36 months. Tariff adjustment of Enel Distribución Rio (2019) Enel Distribución Rio’s tariff review was provisionally approved on March 13, 2018, according to Resolution No. 2.377, when tariffs were adjusted to 21.04%. At that time, the values of the Regulatory Remuneration Base (RRB) and the history of non- technical losses from 2019 to 2022 were provisional. The final calculation of these issues occurred in the Tariff Adjustment of 2019, based on the final calculation of the remuneration basis, BRL 20,052,539.92 were added to Plot B and the difference between the amount approved in 2018 and the final value of 2019 resulted in BRL 21,819,141.88, at the price of March 2019, included as financing items in the Tariffs Adjustment (RTA) of 2019. The following values were defined for non-technical losses: 19.80% (for 2019), 19.39% (for 2020), 18.98% (for 2021) and 18.57% (for 2022). The tariff adjustment of Enel Distribución Rio was approved by ANEEL on March 12, 2019, with an average effect for consumers of 9.70%, with 9.72% for low voltage consumers and 9.65% for medium and high voltage customers. This adjustment became effective from March 15, 2019 to March 31, 2019. ANEEL authorizes CCEE to reach agreement with banks for payment of ACR account ANEEL authorized the Chamber of Electricity Commercialization (CCEE) to conclude an agreement with a group of eight banks to push up the approval of the so-called ACR Account, a mechanism for the transfer of funds to distributors to cover costs with involuntary exposure in the short-term market and the thermal power plant dispatch between February and December 2014. The measure will withdraw BRL 8.4 billion from electricity rates until 2020, and allow for an average reduction in rate adjustments of 3.7% in 2019 and 1.2% in 2020. ANEEL incorporated the effects of the agreement into the tariffs of the companies for which adjustments were made between December 2018 and March 2019 through an extraordinary tariff review: Cepisa, Ceron, Electroacre, Energisa Borborema, Light, and Enel Distribución Rio. Extraordinary Tariff Review of Enel Distribución Rio (2019) The extraordinary review was necessary due to the decision of ANEEL’s Board of Directors on March 20, 2019, which authorized CCEE to reach the agreement with the group of eight banks to anticipate the payment of the so-called CDE Conta- ACR by September 2019. This decision was reflected in Enel Distribución Rio’s tariff, which was 7.59% (average for all consumers). For low-voltage consumers, the adjustment changed the increase from 9.72% to 7.49%, and for medium- and high-voltage customers, the approved rate changed from 9.65% to 7.89%. The review was applied from April 1, 2019 to March 14, 2020. 236236 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationTariff Review of Enel Distribución Ceará (2019) On April 18, 2019, ANEEL approved the result of the fifth periodic tariff review of Enel Distribución Ceará, effective from April 22, 2019. The result leads to an average effect on consumer rates of 8.22%, which is 7.87% for high-voltage consumers and 8.35% for low- voltage consumers. The T component of X the Factor was adjusted by 1.17%, recording technical losses of 9.52% in injected energy and non-technical losses of 7.56% in the low-voltage market. Adjustment of Enel CIEN (2019) Resolution No. 2,565, dated June 25, 2019, established the annual income allowed (RAP) resulting in the values of Enel CIEN: Garabi I (RAP: BRL B180,711,108.53 and PA: BRL -6,391,867.71) and Garabi II (RAP: BRL 187,722,462.73 and PA: BRL -6,662,275.47). It should be noted that Enel CIEN should have updated its tariffs in 2019, but the regulator postponed this process until 2020, and its effects were considered in the related adjustment during 2020. ANEEL Regulatory Resolution No. 853/2019 On August 16, 2019, ANEEL established the provisions related to the quality of the public services for energy transmission, associated with the availability and operating capacity of the Transmission Functions - FT Converter; the new rules become effective starting from January 1, 2020. Tariff Review of Enel Distribution São Paulo (2019) On July 2, 2019, ANEEL approved the result of the Fifth Periodic Tariff Review of Enel Distribución Sao Paulo, starting from July 4, 2019, which was consolidated after the evaluation of the contributions submitted at the Public Hearing No. 011/2019. The result is an average effect on consumers rates of 7.03%, with 8.46% for high-voltage consumers and 6.48% for low-voltage consumers. During the review, the parameters that will be effective for 4 years were established, until the next review in 2023. Such parameters are: technical and non-technical losses (commercial), RAB, operating costs, doubtful accounts and X Factor (productivity and regulatory operating costs). Tariff Adjustment of Enel Distribución Goiás S.A. (2019) On October 22, 2019, ANEEL approved the result of the adjustment of Enel Distribuición Goiás, starting from October 22, 2019. The average effect on consumer rates is -3.90% and consisted of (i) an economic adjustment of -4.42%, with -5.18% on Plot A and +0.76% on Plot B, and (ii) financial components of +6.25% discounting the financial components considered in the last tariff process quantified at 5.73%. The result leads to an average effect on consumers of -3.90 %, with -2.89% for high-voltage consumers” and -4.32% for low- voltage consumers. Tariff Adjustment of Enel Distribución Rio (2020) On March 10, 2020, ANEEL approved the result of the adjustment of Enel Distribución Rio, starting from March 15, 2020. The result leads to an average effect on consumers of +2.71 %, with +3.38% for high-voltage consumers and +2.48% for low-voltage consumers. Tariff Adjustment of Enel Distribución Ceará (2020) On April 14, 2020, ANEEL approved the tariff adjustment of Enel Distribución Ceará, with an average effect of 3.94% on end consumers. The regulator entity postponed the tariff increases for the next three months, as a response to the economic emergency created by the COVID-19 crisis and for the purpose of protecting captive customers. The tariffs will be fixed until June 30, 2020 and will be adjusted on July 1, 2020. It should be noted that the loss of revenue due to the non-application of the new tariffs in the mentioned period will be compensated with a delay in the payment of the CDE installments, for May, June and July 2020. Those payments will be duly adjusted by the Selic rate and recomposed to the CDE fund for Enel Distribución Ceará in up to 5 equal installments starting from August 2020. Lastly, the difference in revenue between the approved tariff and extended tariff will be adjusted by the market occurring up to June 30, 2020 and considered in the subsequent tariff process. 237 Annual Report Enel Américas 2020CIEN Designation On June 19, the Ministry of Mining and Energy published ordinance No. 255, which establishes that Enel CIEN by official designation will continue operating the facilities of Garabi 1 until a new operator is designated through a tender process, probably starting from August 2022. Until that date, Enel CIEN will receive annual revenue (RAP) calculated based on current criteria and methodology. Tariff Review of Enel CIEN (2019) Through Regulatory Resolution No. 2700, dated June 23, 2020, ANEEL approved the final result of the tariff review of Enel Cien, relating to 2019, which was proposed for 2020. The new permitted annual revenue will become effective retroactively from July 1, 2019 and will still be updated upon tariff adjustment of 2020. The values for Enel CIEN are: Garabi I (RAP: BRL 145,870,451.38) and Garabi II (RAP: BRL 175,884,264.79). Tariff Adjustment of Enel Distribución São Paulo (2020): On June 30, 2020, ANEEL approved the tariff adjustment of Enel Distribución São Paulo, with an average effect of 4.23% on end consumers, with 6.00% average, for high-voltage consumers and 3.58% for low-voltage consumers. It should be noted that the adjustment already considered the effects due to anticipation of the COVID-19 account, thus reducing a greater increase in tariffs for the consumer, which without such resource would be 12.22%. Tariff Adjustment of Enel CIEN (2020) Resolution No. 2,725, dated July 14, 2020, established the permitted annual revenue (RAP) for public service concessionaries for energy transmission, due to availability of the transmission facilities under their responsibility. The values for Enel CIEN are: Garabi I (RAP: BRL 148,620,461.29 and PA: BRL -34,591,321.34) and Garabi II (RAP: BRL 179,251,086.59 and PA: BRL -12,198,352.85). Rate Adjustment of Enel Distribución Goiás S.A. (2020) On October 20, 2020, ANEEL approved the result of the rate adjustment by Enel Distribución Goiás, starting October 22, 2020. The result leads to an average effect on consumers of +4.28%, with +6.63% for consumers connected at High Voltage - HV and +3.36% for those connected at Low Voltage - LV. ANEEL considered a negative financial adjustment of -7.84%, due to the amounts received in the COVID-19 Account. ANEEL Regulatory Resolution No. 874/2020 On March 10, 2020, ANEEL approved the new methodology for the calculation and frequency for updating the remuneration rate of regulatory capital (WACC) used to review the tariff or revenue of electric energy distributors, transmitters and generators. Enel Distribución Sao Paulo, Enel Distribución Goias, Enel Distribución Rio and Enel Distribución Ceará will only know the WACC in 2023, which will be applied for their new tariff review. It should be noted that ANEEL also defined the WACC for transmitters that should have performed their Tariff Review in 2019, but was postponed until 2020 (as in the case of Enel CIEN). ANEEL Regulatory Resolution No. 877/2020 On March 17, 2020, ANEEL approved the methodological review of the Xp Factor associated with productivity (Pd component), applicable to distributors from April 1, 2020. The purpose of the new methodology is to reflect the recent history of productivity gains and cyclical market variances. For companies whose concession contracts have not been extended, the value of the Xp factor is established in the tariff review, recording no subsequent tariff adjustments. Accordingly, for Enel Distribución Sao Paulo and Enel Distribución Ceará, the adjustment of the Xp factor will only be applied in 2023. In the case of distributors with a new contract (Enel Distribución Goiás and Enel Distribución Rio), the value of the component is calculated in the annual tariff adjustments, based on current data. 238238 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information ANEEL Regulatory Resolution No. 878/2020 For 90 days (starting from March 24, 2020), this regulatory resolution established measures to preserve the provision of electricity distribution public service due to the public emergency related to the COVID-19 pandemic, which include: prohibiting the suspension of supply according to consumption units residential customers from urban and rural areas allowing the suspension of delivery of the monthly printed invoice to consumers (replacing it with electronic invoices or bar codes), prioritizing emergency services and those destined to attend to essential services, among various other measures, to contribute to social isolation actions and prioritize the continuous and reliable supply of electric energy This was amended on July 21, 2020 by Regulatory Resolution 891/2020, which extended its term to December 31, 2020, and reduced the prohibition of shut offs for consumers in the low-income residential sub-class. Federal Government Provisional Measure No. 950/2020 This measure is intended to increase the discount of the Social Tariff for consumers to 100% with billing of up to 220 KW per month, using CDE resources for this coverage, and allow financial resources to be assumed by CDE in order to face the impact on the electricity sector as a result of the COVID-19 pandemic. ANEEL Dispatch No. 986/2020 The difference in spot prices in 2019 brought CCEE to an amount of BRL 2 billion. On April 7, ANEEL approved the transfer of this surplus to free consumers (BRL 500 billion) and distributors (BRL 1.4 billion) for future costs of ancillary service charges and operation restrictions. Reduction of Transmission Charges As a measure to provide liquidity to the Electricity Sector due to the effects of COVID-19, on April 20, 2020, ANEEL approved the anticipation of the financial effects of the Adjustment Installment for the months of April, May, and June 2020. The immediate effect is BRL 144 million on discounts to charges for the use of the transmission system by distribution companies (90%) and free consumers (10%), recording similar discounts in May and June. Decree No. 10,350/2020 On May 18, 2020, the Brazilian government published Decree No. 10,350/2020 that regulated the COVID-19 account, a sector rescue loan to distribution companies in response to the COVID-19 pandemic. The COVID-19 account consists of a loan obtained from a group of public and private banks, destined to preserve the liquidity of companies from the sector and, at the same time, alleviate the impacts of the crisis affecting the consumers. Subsequently, these values will be included in the 2021 rate adjustments and continue for 5 years until the loan is fully repaid. ANEEL Dispatch No. 1,511/2020 Due to the COVID-19 pandemic, on June 1st, 2020 ANEEL suspended, in an exceptional and temporary manner, the application of the Tariff Flags system, until December 31, 2020. ANEEL Regulatory Resolution No. 885/2020 Regulatory Resolution No. 885/220 was published on June 23, 2020, which regulates Decree No. 10,350/20 and established (i) the cost structure of the COVID-19 account, (ii) the conditions for transferring funds, (iii) the manner in which the account is managed, (iv) the structure of charges for amortization of financial transactions, (v) the settlement of credit transactions, (vi) clauses regulating the acceptance term for the decree provisions, and (vii) limits to the collection of funds by the Distribution Companies, for a total amount of BRL 16 billion. ANEEL Regulatory Resolution No. 888/2020 Regulatory Resolution No 888/2020, was published on July 9, 2020, and regulates the electricity supply conditions for the public lighting service. Electricity distribution companies will no longer be able to charge for collecting the municipal tax (COSIP) after the next tariff review. Until then, the charge is limited to 1%. 239 Annual Report Enel Américas 2020Federal Government Provisional Measure No. 998/2020 On September 1, 2020 the Federal Government entered into a contract to establish a Provisional Measure with special measures to reduce tariffs in the pandemic period and also in the medium and long-term. The measure is effective for 120 days, after which is no longer valid. After an extensive political and regulatory debate, on February 4, the MP 998 was passed by the Federal Senate and sent to the president for approval as law. Enel made a significant contribution to the definition of this law, in order to guarantee positive impacts for the group and mitigate problems and risks found in the initial formulations. The approved text includes (i) a capacity contracting mechanism; (ii) the removal of incentives for renewable energies starting 12 months after the publication of the law; (iii) the approval of the use of funds to contain increases in the Distribution rate; (iv) instructions for developing competitive mechanisms that will allow Distributors to dispose of energy surplus; (v) definition of a special type of sales agent to represent small-scale free consumers in the free market, with the possibility of suspending the offer in the case of payment default. The bill was expected to be passed, without veto, by the end of February. ANEEL Dispatches No. 2,177/20, 2,353/20, 2.640/20, 2,914/20, 3,197/20 and 3,490/20 The dispatches established the values of the resources of the COVID-19 account transferred to the distribution concessionaries, which were received from July to December 2020. ANEEL Order No. 3,364/2020 Given the adverse hydropower conditions, on November 30, 2020, ANEEL decided to revoke Order No. 1.511/2020 and reactivated the rate flag system, which was reinstated on December 1, 2020. Non-Conventional Renewable Energy ANEEL holds auctions by technology considering the expansion plan set by the planning agency, the Empresa de Pesquisa Energética (“EPE”), so that the target amount set for non-conventional renewable energy capacity is met. Tariff revisions In Brazil, there are three types of tariff adjustments: i) Ordinary Tariff Reviews (“RTO”) which are conducted periodically in accordance with the provisions in the concession contracts (for Enel Distribución Ceará and Enel Distribución São Paulo every 4 years and for Enel Distribución Río and Enel Distribución Goiás every 5 years); (ii) Annual Adjustments (“IRT”) since Brazil, unlike other countries, does not automatically index its tariffs to inflation; and (iii) Extraordinary Reviews (“RTE”) when important events have occurred that may affect the financial situation of the distributors. The final tariff revisions of Enel distributors were performed in 2018 (Enel Distribución Río and Enel Distribución Goiás) and 2019 (Enel Distribución Ceará and Enel Distribución São Paulo). The Enel distributors’ next revisions will be performed in 2023. c) Colombia In 1994, Act 142 or the Public Utility Act (Ley de Servicios Públicos Domiciliarios) and Act 143 or the Electricity Act (Ley Eléctrica) were issued, which established the general criteria and policies regulating the public utility service provision in Colombia, as well as the procedures and mechanisms for its regulation, monitor and oversight. The Electricity Act make the constitutional approach viable, regulates the generation, transmission, distribution and sale of electricity, creates a market and competitive environment, strengthens the industry and delimit the government intervention. Considering the characteristics of each activity or business, general guidelines were established for the development of the regulatory framework, creation and implementation of the rules that would allow free competition in the power generation and sales industries, while the guidelines for the transmission and distribution industries were aimed to address these activities as monopolies, looking for competitive conditions if possible. The main institution in the electricity sector is the Ministry Mining and Energy, which through the Mining Energy Planning Unit, (Unidad de Planeación Minero Energética, or UPME) develops the national Energy Plan and the Generation and Transmission Expansion Plan. The Energy and Gas Regulatory Commission (Comisión de Regulación de Energía y Gas or CREG) and the 240240 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationPublic Service Superintendency (Superintendencia de Servicios Públicos, or SSPD) regulate and oversee, respectively, the companies in the industry. In addition, the Superintendency of Industry and Commerce is the national authority for free trade protection issues. The electricity industry operates on the basis of electricity-selling companies and the large consumers are able to buy and sell energy through bilateral contracts or on a short-term energy exchange market, called the “energy exchange” that operates freely according to supply and demand conditions. In addition, there are two mechanisms to promote the expansion of the system: i) auctions of Firm Energy within a “Reliable Charge” scheme and ii) long-term auctions to enhance the Non-conventional Renewable Energy Sources (FRNCE). The market is operated and managed by XM, which is in charge of the National Dispatch Center (Centro Nacional de Despacho, CND), and the Manager of the Commercial Exchange System (Administrador del Sistema de Intercambios Comerciales, ASIC). Act 1715 of 2014 was created, "By means of which the integration of non-conventional renewable energies into the National Energy System is regulated", which is also intended to promote the efficient management of energy, addressing both energy efficiency and the response to the demand. Such act also promotes the development and use of non-conventional resources, mainly those of a renewable nature, in the national energy system, through their integration into the electricity market, their participation in non-interconnected areas and other energy uses as a necessary means for sustainable economic development, the reduction of greenhouse gas emissions, and the security of energy supply. In 2019, the CREG established general rules of market behavior for agents performing activities of home utility services of electric power and fuel gas. CREG considers it is necessary to establish a regulatory framework that, in addition to the specific market rules and obligations, defines general rules of behavior that promote and allow further development of: free access to networks and facilities that are monopolies by nature, free choice of service providers and the possibility of user migration, transparency, neutrality, economic efficiency, free competition and the non-abuse of dominant positions. Due to the worldwide and national situation caused by the COVID-19 pandemic, in March 2020 the National Government declared a State of Economic, Social and Ecological Emergency throughout the national territory and ordered the mandatory preventive lockdown of all the inhabitants of the territory; these measures have generated the issuance of different transitory standards and regulations by the MME, CREG and SSPD among others, which looks forward to guarantee the continuous and stable provision of public residential services and mitigate the economic and social effects in the electric energy and natural gas sectors. The National Government has published the final documents containing the analysis and proposals of the “Energy Transformation Assignment" which will be established in the sector route sheet, as a guide for the main transformations that will be adopted in the future. The Mission's recommendations were disseminated and reported to the sector's agents for review and comment in February 2020. Non-Conventional Renewable Energy In 2014, Law No. 1.715 was enacted, creating a legal framework for the development of non-conventional renewable energies, which established guidelines on the declaration of public utility, tax, tariff and accounting incentives. As part of the regulation, the Ministry of Mining and Energy issued Decree No. 2.469 of 2014, which established the energy policy guidelines for the delivery of self-generation surpluses. The regulations issued by the CREG have been aimed at allowing the participation of Non-Conventional Renewable Energy Sources (NCREs) in the Reliability Charge mechanism, and strengthened the participation of demand through large- and small-scale self generation. In this manner, for the purpose of having an electric energy generation matrix that is resilient and complementary while reducing the emission of greenhouse effect gasses (GEI) and promoting competition in the sector, the Ministry of Mining and Energy (MME), the Mining Energy Planning Unit (UPME) and the Energy and Gas Commission (CREG) have made a number of adjustments to the tender regulations, defining a two separate, sealed envelope tender with voluntary participation, exclusively for new FNCER projects, with a price ceiling, the product of which is a 15-year pay of what was contracted contract model in COP/kWh and with inception date anuary 1, 2022. 241 Annual Report Enel Américas 2020In May 2019, Law 1955 - 2018-2022 National Development Plan “Pacto por Colombia, Pacto por la Equidad” was approved. The following items of the final wording are emphasized: i. Tax Benefit: whoever makes investments in FNCER shall have a right to deduct from their income in a period of no more than 15 years, 50% of the total investment made. ii. Energy matrix – FNCER Energy Purchase in long-term contracts: commercializing agents will be obliged to purchase electric energy from FNCER (between 8% and 10% of their purchases). However, the Ministry of Mining and Energy or the delegated entity, shall regulate the scope of the obligation. Tariff Revisions CREG is the entity that defines the method by which distribution networks are paid. Distribution charges are reviewed every five years and updated monthly according to the Producer Price Index (“PPI”). Currently, these charges include the new replacement value of all operational assets, the Administration, Operation and Maintenance (“AOM”) and non-electrical assets used in the distribution business. The current distribution charges for Codensa were issued by CREG in October 2009. Additionally, CREG issued Resolution No. 95 in 2015, which defined a method for calculating the regulated remuneration tariff (“WACC”) for electricity transmission and distribution, as well as for natural gas transportation and distribution. In February 2018, CREG issued Resolution No. 015 of 2018, which definitively decides on the Distribution Remuneration Methodology for the new tariff period, which determines the remuneration over the existing asset base, the presentation of investment plans, the remuneration of operating and maintenance expenses and defines ways to decrease losses and service quality. Finally, in December 2019, the Commission published CREG Resolution 189 of 2019, which approves the necessary variables for calculating the revenue and charges associated with the electricity distribution activity for the commercialization market in which Codensa operates. In September 2018, CREG issued Resolution No. 114 of 2018, by which it determined the general principles and conditions that must be met by the mechanisms for the marketing of electric energy in order for its prices to be recognized in the component of costs of energy purchases from the regulated user. In February 2019, CREG issued Resolution No. 015 of 2019, which modifies the rate of return for the electricity distribution activity (with 11.79% for the year 2019, 11.64% for the year 2020, 11.5% for the year 2021 and 11.36% from the year 2022 onwards), which responds to the aforementioned methodology. In May 2019, the Ministry of Mining and Energy issued Resolution No. 40,459. This new regulation from the ministry revises the public policy guidelines on Advanced Measurement Infrastructures (AMI) in the public electric power service. In May 2019, Law No.1,955, the National Development Plan, was approved, which contains the following guidelines: • • • • Subsidies to customers in categories 1, 2 and 3 are extended until December 31, 2022. A special transitional regime is created to ensure the sustainability of efficient service provision: i) surcharge per kilowatt hour consumed to support the Business Fund in the national territory (COP 4/kWh); and ii) additional 1% contribution to the SSPD regulated in article 85 of Law No.142 of 1994. Law No.143 of 1994 is revised to extend the restriction on vertical integration and restrict integration through business groups. The Ministry of Mining and Energy (or the entity designated to perform this function) will regulate the scope of the aforementioned measures. In September 2019, the SSPD issued the regulation of the national surcharge of COP 4 / kWh, as part of the measures required to guarantee the provision of electric power service under the charge of the companies operated by the SSPD. This rate applies to strata 4.5 and 6; commercial and industrial and will be in force from November and will be retroactive to July and its collection is considered third party income. 242242 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationIn October 2019, CREG issued Resolution No. 129 of 2019; which establishes the formula for the transfer in the energy purchase component to the regulated user of the prices of the contracting mechanism that sign contracts resulting from the auction referred to in Resolution No. 40,590 of 2019 of the Ministry of Mining and Energy. In December 2019, CREG issued draft Resolution No. 155 of 2019, which contains the conceptual bases for the remuneration of the marketing activity. In December 2019 CREGissued Resolution No. 198 of 2019, extending the application of the subsidies to tier 1 and tier 2 users. On March 17, 2020, the National Government declared a state of economic, social and environmental emergency throughout the country, to reflect the public crisis affecting the country due to the new coronavirus (COVID-19), which has been extended until February 28, 2021. On June 24, 2020, CREG issued Resolution No. 122 of 2020, approving the final distribution for Enel Codensa. In its approval, CREG resolved the appeal filed by the Company with respect to Resolution No. 189 of 2019. In addition, CREG in its final approval makes the correction of the Base of Assets, the incorporation of additional events in the calculation of quality indicators and the retroactive application of service quality incentives. The Constitutional Court declared the unenforceability of Article 313 of Law 1955 of 2019, through ruling C-504, which indicates that the surcharge collection agents must abstain from billing, charging, or collecting the surcharge during billing periods immediately following December 3, 2020. The portfolio cannot be written off, and collection proceedings must be arranged to be transferred to the corporate fund. The Constitutional Court declared the unenforceability of Article 18 of Law 1955 of 2019, through ruling C-484, which implies that, as of 2021, the contribution will be reliquidated both for CREG and SSPD, as before i.e. this implies a reduction in both contributions. d) Peru Law No. 25,844, the Law on Electricity Concessions, indicates that the Peruvian electricity sector is divided into three large segments: generation, transmission and distribution, such that no more than one activity can be developed by the same company. The Peruvian electricity system is known as the National Interconnected Electricity System (SEIN), in addition to some isolated electricity systems. According to the abovementioned Law, generation companies’ operations will be subject to the provisions of the Economic Operations Committee for the National Interconnected System (COES) for the purpose of coordinating their operations at minimum cost, guaranteeing the secure supply of electricity and best use of energy resources. The COES manages power and energy transfers between generators, considering contractual injections and withdrawals, and values these transfers on a monthly basis, as well as compensations to the transmission system owners and compensations to other generators according to the regulations established by OSINERGMIN in this regard. The main purposes of Law No. 28,832 are i) to ensure the sufficiency of efficient electricity generation, which reduces the electricity system's exposure to price volatility and the risk of rationing due to energy shortage; and to ensure a competitive electricity rate for consumers; ii) to reduce administrative intervention in the determination of generation prices through market solutions; and iii) to promote effective competition in the generation market. The main changes introduced by the law refer to the short-term market participation of generation companies, distribution companies, and free large customers, including both distributors and free customers as participants in the COES, and modifying the latter's structure. It also added the bid mechanism to be followed by electricity distribution companies for the purposes of entering into electricity supply contracts with generation companies for the public supply of electricity and, optionally, in the case of free users. 243 Annual Report Enel Américas 2020The sale of energy by generators to distributors for the purpose of the public supply of electricity, shall be performed through bids or bilateral contracts (with a regulated maximum price - bar rate). The bid mechanism has the purpose of establishing a system that promotes investments in new generation capacity through long-term electricity supply contracts and firm rates with distribution companies. Supreme Decree No. 026-2016-EM approves the Wholesale Electricity Market Regulations (MME Regulations) and incorporates the definition of “MME” which is composed of the short-term market (“MCP”) and the complementary service allocation, operative inflexibility, and congestion income allocation mechanisms. The participants authorized to purchase in the MCP are: generators to meet their supply contracts, distributors to meet the needs of their free users (up to 10% of maximum demand), and large users to meet up to 10% of maximum demand. The COES will calculate marginal energy costs and marginal congestion costs, provisional daily values of the transactions in the MME, and the results will be reported to participants on the COES website. The participants must have payment guarantees, and the COES will take action in the event of non-compliance with these. Legislative Decree No. 1.002 creates a promotional regime for non-conventional renewable sources of energy “RER”; through tenders for specific technologies (to cover up to 5% of the electrical power demand) with a mechanism of guaranteed revenue paid by the demand through a tariff charge in the connection fee. Legislative Decree No. 1,221 amends the Law on Electricity Concessions, mainly introducing the following changes: • • • • The Ministry of Energy and Mining will determine a Technical Responsibility Zone for each distribution concessionary. It establishes the performance of studies and the setting of Value-Added Distribution (VAD) for each distribution concessionary providing services to more than 50,000 suppliers. Recognition of an additional charge for technological innovation projects previously approved by OSINERGMIN, equivalent to a maximum percentage of the annual revenue. Incentives to improve the quality of the service from the actual quality until the target value is achieved. Through Executive Decree No. 018-2016-EM the Regulations of the Electricity Concessions Law is amended, which are mainly: the incorporation of the possibility to install supplies with intelligent metering owned by the distribution Company and its investment costs and operation and maintenance costs (O&M) will be considered in the VAD; the proposed Technical Responsibility Zones (ZRT) will be published; technological innovation projects will be included in the VAD and they will be compensated through a charge for power. In addition, with respect to customers who may choose to belong to the regulated or unregulated market, Executive Decree No. 018-2016 maintained the following provisions: • • • The range for customers who may choose to be regulated or unregulated fluctuated between 200 and 2,500 kW. The condition change shall be notified to the current supplier at least one year in advance. The user must remain in the new condition for at least 3 years. Customers whose maximum demand is greater than 2,500 kW are necessarily unregulated customers. Legislative Decree No. 1041 modified various articles of Law on Electricity Concessions (D. Law No. 25.844) and the Law to Ensure Efficient Development of Electricity Generation (Law No.28.832). Through Executive Decree No. 001-2010-EM, D. Leg No. 1041 was regulated, which amends the electricity regulatory framework to dispatch natural gas and the remuneration of power and energy. Concerning the transmission regime, the payment responsibility of the rate base of the Guaranteed Transmission System was finally amended to assign it exclusively to the users. Law No. 29970 declares the national interest in implementing measures to guarantee the country's energy security through the diversification of energy sources, the reduction of external dependency, and the reliability of the energy supply chain. Law No. 30543, published on March 3, 2017 and regulated by Supreme Decree No. 022-2017-EM published on August 16, 2017, eliminates the energy security guarantee charge (CASE) derived from Law No. 29970. Through Legislative Decree No. 1,451 the article 122 of the Law on Electricity Concessions was amended, which incorporates provisions for those cases of vertical integration that do not qualify as acts of concentration according to the related regulations. 244244 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationThe Regulations of the Electricity Wholesale Market were approved through Executive Decree No. 026-2016-EM and are expected to be effective from January 1, 2018 through Executive Decree No. 033-2017-EM. Through Executive Decree No. 022-2018-EM (amended by Executive Decree No. 026-2018-EM) the Regulation of Electricity Supply Tenders, approved by Executive Decree No. 052-2007-EM, was amended in order to establish provisions on the procedure for the evaluation of proposals to amend contracts resulting from tenders. Through Executive Decree No. 237-2019-EFthe National Competitiveness and Productivity Plan was approved, which is intended to promote economic growth that will improve the population’s well-being in the medium term. There are 9 priority objectives, including Environmental Sustainability (OP9), which guidelines (9.1) include the Strategy for Financing Climate Change Measures and (9.4) the Strategy for Renewable Energy, Electromobility and Clean Fuels. Through Executive Resolution No. 006-2019-EM the Multisectoral Commission for the Reform of the Electricity Subsector was created. Its purpose is to perform an analysis of the electricity market, in order to make proposals aimed at the adoption of measures that guarantee the sustainability and development of the Electricity Sub-sector. The commission is effective for 24 months. Through Resolution OSINERGMIN No.144-2019-OS/CD, the Technical Procedure of COES No. 26 “Calculation of Firm Capacity” was amended. This parameter is used to determine the revenue from capacity of the generators in the COES, as well as the contracting level that they can achieve. Starting from September 2019, the Firm Capacity for RER power plants using wind, solar or tidal technology will be determined considering the energy production in the peak hours of the system. On January 6, 2021, Law No. 31,112 was published to establish prior control of corporate concentration operations. By publishing this law, which supposes the prior approval of its regulations and other regulatory modifications provided by the law itself, the content of Law No. 26,876 is repealed, with the exception of article 13, which modifies article 122 of Decree Law No. 25,844, the Law on Electricity Concessions (related to restrictions to concentration in the electricity sector), as well as the Emergency Decree No. 013-2019 which established prior control of corporate concentration operations starting March 1, 2021. Supreme Decree No. 044-2020-PCM of March 15, 2020 and its modifying regulations, declared a National State of Emergency, which has been extended until February 28, 2021, due to the Coronavirus outbreak in the country. During this period, different mandatory social distancing measures were established, along with restrictions to the freedom of assembly and freedom of transit. Likewise, it establishes that the State guarantees access to public services and essential products and services (established in the Supreme Decree). Through Vice-ministerial Resolution No. 001-2020-MINEM/VME, published on March 19, 2020, it was established that electricity generation, transmission and distribution companies must: (i) activate their security protocols in order to safeguard their employees, contractors or third parties; (ii) prioritize actions to ensure continuity of electricity services, and (iii) present to the OSINERGMIN and MINEM their Contingency Plans to ensure continuity of the service specifying the coordinator in charge. Through Executive Decree No. 035-2020, published on April 3, 2020, it was established that distribution companies can divide in up to 24 months the receipts issued in March 2020 or which comprise any consumption during the state of national emergency of vulnerable users (those with consumption of up to 100 kWh/month or users from non-conventional rural electrical systems supplied with autonomous photovoltaic power). The Government recognizes compensatory interest for the mentioned division, which is paid to companies using the resources of the Energy Social Inclusion Fund. In addition, it considers the suspension of meter reading activities and delivery of physical receipts (the delivery of digital receipts is authorized), suspending the obligation to physically attend to users in Customer Service Centers and authorizes billing using an average of consumption. Through Executive Decree No. 062-2020, issued on May 28, 2020, the range of customers that can access division of their bills was extended to those with consumption that is greater than 100 kWh/month and less than 300 kWh/month. In this case, the standard establishes that the division can be applied to bills from May and those that comprise consumption while the State of Emergency is in force, with the compensatory interest being partly subsidized by the Government (according to the consumption range) and the difference is assumed by the users. Finally, the standard also establishes that non-compliance 245 Annual Report Enel Américas 2020with the Electricity Service Quality Technical Standard and the Rural Electricity Service Quality Technical Standard will not lead to payment of compensation and sanctions until 60 calendar days subsequent to the end of the State of Emergency. Through Emergency Decree No. 074-2020, issued on June 27, 2020, the “Electricity Bonus” was created, which is a subsidy that covers consumption pending payments in the period from March to December 2020 and that are not involved in a user complaint process with consumption of up to 125 kWh/month (subject to conditions). Such bonus will cover the debts up to PEN 160, since the resources will be transferred directly to the distribution companies. The procedure for application of the Electricity Bond was approved through Resolution No. 080-2020-OS/CD issued by the Governing Board of OSINERMGIN, and was issued on July 9, 2020. Such standard establishes the considerations that distribution companies must consider to identify the beneficiaries of the Electricity Bonus and the procedure for its execution. Urgent Decree No. 105-2020, issued on September 10, 2020, modified Urgent Decree No. 074-2020 including customers with prepayment supply and those associated to collective supply in the “Electricity Bonus.” Supreme Decree No. 031-2020-EM, published on December 21, 2020, repeals Supreme Decree No. 043-2017-EM, which establishes the provisions for determining the prices of natural gas for electricity generation. OSINERGMIN Directors’ Council Resolution No. 218-2020-OS/CD, published on December 24, 2020, approves the “Activities- Based Costs Manual, applicable to electricity distribution companies.” Non-Conventional Renewable Energy In Peru, a target up to 5% has been set as the non-conventional renewable energy share in the country’s energy system (“ERNC” in its Spanish acronym). It is a nonbinding target and the regulatory agency, OSINERGMIN, holds differential quota tenders by technology and limited prices to help reach the goal. In 2016, the Fourth Tender of Energy Supply with Renewable Energy Resources (“RER” in its Spanish acronym) was carried out. The tender was awarded to thirteen projects consisting of two biomass plants, two solar plants, three wind plants and six hydroelectrical plants, and will add 430.1 MW to the SEIN. Tariff Revisions In Peru, the process for the determination of the distribution rate is carried out every 4 years, and is called "Value Added Distribution Fixation" (“VAD”). Exceptionally, the last process lasted 5 years, since one year was required to implement the last reforms approved in 2015 by Legislative Decree No. 1221. The process of determining the VAD for Enel Distribución Perú corresponding to the 2018-2022 period took place during 2018. The regulator reviewed the cost studies proposed, made observations and the distribution companies technically supported their proposals. At the end of that tariff process, in general, the company, in general, maintained its annual income received in the 2013-2017 tariff period. It should be noted that the Peruvian regulation follows the regulatory scheme of an efficient model company, so that in each tariff period the efficient investment costs are established, as well as the standard operation and maintenance costs that will be recognized to each distribution company under the parameters and criteria defined by the OSINERGMIN (regulatory body). As of the tariff period of 2018, the efficient model company is built individually for each distributor with more than 50,000 customers. ii. Limits on integration and concentration In general, all of the countries have legislation in effect that defends free competition and, together with specific regulations that apply to the electricity market, defines criteria to avoid certain levels of economic concentration and/or abusive market practices. 246246 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationIn principle, the regulators allow the participation of companies in different activities (e.g. generation, distribution, and commercialization) as long as there is an adequate separation of each activity, for both accounting and company purposes. Nevertheless, most of the restrictions imposed involve the transmission sector mainly due to its nature and to the need to guarantee adequate access to all agents. In Argentina and Colombia, there are specific restrictions if generation or distribution companies want to become majority shareholders in transmission companies. Regarding concentration in a specific sector, in Argentina, there are no specific limits that affect the vertical or horizontal integration of a company. In Peru, integration is subject to the authorization of the Instituto Nacional de Defensa de la Competencia y Protección de la Propiedad Intelectual (“INDECOPI”), an antitrust authority that is able to establish commercial conduct. In Colombia, no company may have a direct or indirect market share of over 25% in electricity sale activities, although two criteria have been established for generating activity. In May 2019, Law No.1,955 of the National Development indicates that in order to ensure the sustainability of the provision of the service on the Caribbean Coast, the limits on the participation in the commercialization activity may be higher, than the current regulatory limit by possibly as much as 10 additional percentage points. One of these relates to participation limits depending on market concentration (HHI) and the size of the players according to their Firm Energy, and the other relates to pivotally conditions in the market depending on the availability of resources to meet system demand. In addition, Colombian companies created after the Public Service Law was enacted in 1994, can only engage in activities that complement generation/sales and distribution/sales. Finally, in Brazil, with the changes taking place in the power industry under Law No. 10,848/2004 and Decree No. 5,163/2004, the ANEEL gradually perfected regulations, eliminating concentration limits as no longer compatible with the prevailing regulatory environment. However, regulatory approval is required for consolidations or mergers to take place between players operating within the same business segment. In July 2019, in Colombia, CREG No. 079 of 2019, the purpose of which is to ensure that the level of contracting between vertically integrated and/or controlled companies does not change until CREG approves its own definitive path with respect to maximum contracting. iii. Unregulated customers market In all of the countries where the Group operates, distributing companies can supply their customers under regulated or freely agreed conditions. The supply limitations imposed on the unregulated market are as follows: Country Argentina Brazil Colombia Peru kW threshold > 30 kW > 2,000 kW or > 500 kW (1) > 100 kW or 55 MWh- month > 200 kW (2) (1): The > 500 kW limit is applied if energy from renewable sources is purchased, which is encouraged by the Government through a toll discount. As of January 1, 2021, the limit of 2,000 KW decreases to 1,500 KW. (2): D.S. 018-2016-EM established that: • • • The demand of customers that can opt between the regulated and free market (those with demand from 200 to 2,500 kW) is measured at each point of supply. Regulated customers whose demand exceeds 2,500 kW, will remain regulated for 1 year. Customers whose demand at each point of supply is greater than 2,500 kW are necessarily free customers. 247 Annual Report Enel Américas 2020 NOTE 5. Non-Current assets or disposal groups held for sale or held for distribution to owners and discontinued operations 5.1.- Operation Central Rio Negro (CODENSA). In October 2018, Codensa’s Board of Directors approved the start of the sale process of the Small Hydroelectric Power Plant PCH Rio Negro (the “Río Negro SHP”). The Rio Negro SHP was received as a result of the merger with Empresa de Energía de Cundinamarca, or EEC, in 2016. Considering that Codensa was constituted after 1992, the restriction of vertical integration is applicable and therefore it cannot operate or commercially represent any generation asset. Due to the above, the SHP was operated by Emgesa S.A. E.S.P. under a usufruct agreement. After a selling process in 2019, the transaction was successfully carried out with the signing of the asset’s purchase/sales contract on December 26, 2019. 82% of the agreed purchase price was effectively collected by Codensa and the balance is subject to the total transfer of real estate, whose process is in progress. Taking into account the sales process and what is established in IFRS 5 “Non-current assets held for sale and discontinued operations”, prior to the classification as non-current asset held for sale, the PCH was recorded at fair value. During 2019, there were additions due to mandatory compliance with environmental issues and fair value was updated. As of June 30, 2020, assets and liabilities held for sale were derecognized, since to date Codensa does not have control over the transferred assets. Non-current assets and liabilities held for sale as of December 31, 2019, are detailed as follows. IN THOUSANDS OF U.S. DOLLARS – THUS$ Property, plant and equipment TOTAL NON-CURRENT ASSETS Other non-current non-financial liabilities TOTAL NON-CURRENT LIABILITIES 12-31-2019 MUS$ 11,326 11,326 3,791 3,791 248248 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationNOTE 6. Business combination 6.1 Acquisition of Enel Distribución Paulo S.A. (Formerly Eletropaulo Metropolitana de Eletricidade de Sao Paulo S.A.) On April 17, 2018, subsidiary Enel Brasil S.A. through wholly-owned subsidiary Enel Investimentos Sudeste S.A. (Enel Sudeste) launched a voluntary public tender offer for all the shares issued by the Brazilian electric energy distributor Enel Distribución Sao Paulo S.A., subject to the acquisition of more than 50% of those shares in order to obtain control of it. On June 4, Enel Sudeste received approval from the Free Competition authority in Brazil, the Conselho Administrativo de Defensa Econômica (“CADE”). On that same date, the success of the public tender offer and acquisition of the initial auction was confirmed, and completed through payment of the price and transfer of shares in favor of Enel Sudeste, which took place on June 7, 2018, the date from which the accounting for the purchase as established in IFRS 3 Business Combinations was applied. Specifically, 122,799,289 shares were acquired, all of the same class, corresponding to 73.38% of the share capital of Enel Distribución Sao Paulo S.A. for a total of BRL 5,552,984 (US$ 1,484 million). Complementing the above, on June 11, 2018, Agência Nacional de Energía Eléctrica (ANEEL) issued a technical note approving the acquisition of control of Enel Distribución Sao Paulo S.A., which was produced with the purchase of the shares mentioned in the previous paragraphs. This technical note was issued by ANEEL on June 26, 2018. Since the shareholders of Enel Distribución Sao Paulo S.A. had a deadline of July 4, 2018 to sell the remaining shares to Enel Sudeste, at the same price offered in the public tender offer (BRL 45.22 per share), during June and July the additional participation increases took place. In effect, on June 22 and June 30 and on July 2 and July 4, 2018, the amount of 4,692,338, 4,856,462, 14,525,826 and 9,284,666 shares were acquired, respectively, equivalent to a total of BRL 1,516,362 (US$ 384 million). These subsequent acquisitions represented an increase in ownership from 73.38% to 95.05%. On September 19, 2018, the Management Council of Enel Distribución Sao Paulo S.A. approved an increase in the company’s share capital of BRL 1,500,000, through the issuance of 33,171,164 new shares. Enel Sudeste concurred in this capital increase, acquiring 33,164,964 of the new shares (US$ 395 million) with which it increased its ownership in the company to 95.88%. The functional currency of Enel Distribución Sao Paulo S.A. is the Brazilian Real. Enel Américas has converted the initial effects of the business combination to its presentation currency, using the exchange rates current as of the acquisition date. As of the closing date of each reporting period, the financial statements of Enel Distribución Sao Paulo S.A. are converted following the accounting criteria detailed in Note 2.7.3. Enel Distribución Sao Paulo S.A. has an area under concession that encompasses 4,526 km², which concentrates most of the gross domestic product and the highest demographic density in Brazil, with 1,581 consumer units per km², which corresponds to 33.3% of total electric energy consumed in the State of Sao Paulo and 9.3% of Brazil’s total. It covers the demand of approximately 7.2 million consumer units, it has 7,355 internal collaborators and has an infrastructure composed of 156 substations. As of the acquisition date, Enel Distribución Sao Paulo S.A. contributed revenue from operating activities in the amount of ThUS$2,214,855 and profit before taxes in the amount of ThUS$39,227 to the income of Enel Américas for the year ended December 31, 2018. If the acquisition had occurred on January 1, 2018, it is estimated that, for the year ended December 31, 2018, consolidated revenue from operating activities would have increased by ThUS$3,587,161 and profit before taxes would have decreased by ThUS$14,678. 249 Annual Report Enel Américas 2020Assets acquired and liabilities assumed at the acquisition date Definitive values Identifiable net assets acquired Cash and cash equivalents Other current non-financial assets Trade and other current receivables Inventories Current tax assets Other non-current financial assets Other non-current non-financial assets Trade and other non-current receivables Intangible assets other than goodwill Property, plant and equipment Investment property Deferred tax assets Other current financial liabilities Trade and other current payables Other current provision Other current non-financial liabilities Other non-current financial liabilities Other non-current payables Other non-current provision (*) Deferred tax liabilities Provisions for non-current employee benefits Fair Value ThR$ 1,037,105 400,311 3,948,137 275,129 41,179 3,205,469 1,056,711 205,249 11,055,574 65,804 44,049 3,229,417 (2,266,501) (3,551,676) (759,862) (600,990) (2,505,299) (567,355) (2,788,278) (3,009,203) (3,327,621) Fair Value ThUS$ 273,439 105,544 1,040,949 72,539 10,857 845,140 278,608 54,115 2,914,866 17,350 11,614 851,455 (597,576) (936,420) (200,342) (158,454) (660,537) (149,586) (735,146) (793,394) (877,347) Total 5,187,349 1,367,674 (*) includes contingent liabilities in the amount of ThBRL 1,252,000 (ThUS$ 330,097), which the Company recorded as liabilities assumed at the date of acquisi- tion. The main contingent liabilities identified in the business combination are disclosed in note 35.3.b.32-48. Determination of goodwill Definitive values Cash consideration transferred Non-controlling interests assumed at the acquisition date (-) Net assets acquired and liabilities assumed Goodwill determined ThR$ 7,069,345 256,616 (5,187,349) ThUS$ 1,863,874 67,658 (1,367,674) 2,138,612 563,858 Goodwill is mainly attributable to the value of the synergies that are expected to be achieved through the integration of Enel Distribución Sao Paulo S.A. into the Group. These synergies are related, among others, to the generation of new businesses, efficiencies in investments and administrative costs. The amounts paid to obtain control of Enel Distribución Sao Paulo S.A. are shown below: Cash and Cash equivalents to obtain control of Enel Distribución Sao Paulo Amounts paid for the acquisition in cash and cash equivalents Amounts of cash and cash equivalents in the acquired entity Total 250250 ThUS$ (1,863,874) 273,439 (1,590,435) 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationNOTE 7. Cash and cash equivalents a) The details of cash and cash equivalents as of December 31, 2020 and 2019 are as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Cash and Cash Equivalents Cash balances Bank balances Time deposits Other fixed-income instruments Total 12-31-2020 308 641,870 749,671 115,144 12-31-2019 830 593,747 1,168,331 176,089 1,506,993 1,938,997 Time deposits have a maturity of three months or less from their date of acquisition and accrue the market interest for this type of short-term investment. Other fixed-income investments are mainly comprised of resale agreements maturing in 90 days or less from the date of investment. There are no restrictions for significant amounts of cash availability. b) The detail of cash and cash equivalents by currency is as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Currency Chilean peso Argentine peso Colombian peso Brazilian real Peruvian soles U.S. dollar Euros Total 12-31-2020 638 65,480 381,754 741,281 147,458 170,335 47 12-31-2019 142,878 49,846 185,423 699,418 188,655 672,694 83 1,506,993 1,938,997 c) The following table records the components of “Other payments for operating activities” line item in the Statement of Cash Flows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Other Payments from Operating Activities Payment for other taxes (VAT, ICMS, PIS/COFINS, Sales taxes, Custom taxes, taxes on bank transfers) (1) Payments for collections made under Codensa Hogar contract (2) Payments for the Energy Development Account (CDE) (3) Other miscellaneous itemized payments for operating activities (4) 12-31-2020 12-31-2019 12-31-2018 (2,587,437) (349,481) (736,116) (340,754) (3,613,564) (578,708) (1,148,756) (382,405) (2,774,024) (514,595) (926,642) (1,012,571) Total other payments from operating activities (4,013,788) (5,723,433) (5,227,832) (1) The main elements of payments for other taxes are related to: • • • ICMS: This is a state value added tax (VAT) in Brazil, applied on the sale of telecommunications and transportation goods and services. The ICMS pay- ments were ThUS$ 2,025,223, ThUS$ 2,672,785 and ThUS$ 2,154,158 for the years ended December 31, 2020, 2019 and 2018, respectively. PIS/COFINS taxes. In Brazil, the “Programa de Integração Social” (PIS) is a social contribution tax, payable by corporations, targeted to finance the pay- ment of unemployment insurance and allowance for low paid employees, while the “Contribuição para o Financiamento da Seguridade Social” (COFINS) is a federal contribution tax, based on gross revenues of business sales. The total amounts paid for PIS/COFINS were ThUS$ 442,734, ThUS$ 827,589 and ThUS$ 474,826 for the years ended December 31, 2020, 2019 and 2018, respectively. Payment for taxes on sales in Peru for ThUS$ 86,768, ThUS$ 85,089 and ThUS$ 81,694 for the years ended December 31, 2020, 2019 and 2018, respec- tively. (2) Our Colombian subsidiary Codensa entered into an arrangement with a third party that develops a business with Codensa’s customers. By virtue of this arrangement, Codensa manages the collection of that third party’s receivables, since they are billed as part of the Codensa’s invoices issued monthly. The payments are related to the monthly collected amounts under the collection management contract, whereas the collections are presented in the line item “Other collections from operating activities”. In Brazil, Law No. 10,438/2002 created the “Conta de Desenvolvimento Energético” (“CDE”). The CDE is a government fund that aims to promote the develop- ment of alternative energy sources, promote globalization of energy services and subsidizes low-income residential customers. The fund is financed through charges included in consumers and generators tariffs and government contributions. (3) (4) Other miscellaneous payments for operating activities includes several types of individually non-significant payments related to operating activities. 251 Annual Report Enel Américas 2020d) Reconciliation of liabilities arising from financing activities: IN THOUSANDS OF U.S. DOLLARS – THUS$ Liabilities from financing activities Short-term loans Long-term loans Lease liabilities Assets held to cover liabilities arising from financing activities Balance at 01-01-2020 1,422,681 4,818,468 190,269 Cash flows from financing From 1,359,012 582,583 - Used (1,689,240) (91,207) (77,292) Paid interest (320,948) - (5,755) Total 12.31.2020 (651,176) 491,376 (83,047) Acquisition of subsidiaries Changes in fair value 3,990 Changes that do not represent cash flows Exchange differences (80,673) (516,196) (15,290) Financial costs (1) 323,080 9,757 9,286 New financial leases 45,639 Other changes 957,126 (784,683) (4,297) Balance at 12-31-2020 1,975,028 4,018,731 142,560 (67,937) 114,004 - - 114,004 9,691 (152,874) (15,286) (1,907) (114,309) Total 6,363,481 2,055,599 (1,857,739) (326,703) (128,843) 13,690 (765,033) 326,837 45,639 166,239 6,022,010 IN THOUSANDS OF U.S. DOLLARS – THUS$ Liabilities from financing activities Short-term loans Long-term loans Lease liabilities Assets held to cover liabilities arising from financing activities Balance at 01-01-2019 4,264,806 4,535,549 121,973 Cash flows from financing From 3,401,133 1,525,820 - Used (7,150,100) (297,385) (59,177) Paid interest (605,522) - (9,077) Total 12.31.2019 (4,354,489) 1,228,435 (68,254) Acquisition of subsidiaries Changes in fair value 4,812 Changes that do not represent cash flows Exchange differences 8,608 (50,138) 10,866 Financial New financial leases costs (1) 571,136 11,666 114,963 Other c hanges 927,808 (895,378) (945) Balance at 12-31-2019 1,422,681 4,818,468 190,269 (113,974) 95,512 - - 95,512 (10,363) (32,030) (7,082) (67,937) - - Total 8,808,354 5,022,465 (7,506,662) (614,599) (3,098,796) (5,551) (62,694) 582,802 114,963 24,403 6,363,481 IN THOUSANDS OF U.S. DOLLARS – THUS$ Cash flows from financing Liabilities from financing activities Short-term loans Long-term loans Lease liabilities Assets held to cover liabilities arising from financing activities 01.01.2018 688,497 4,352,974 104,492 From 4,295,111 2,929,441 - Used (2,902,062) (1,393,822) (31,619) Paid interest (432,515) - (7,037) Total at 12.31.2018 960,534 1,535,619 (38,656) (21,964) 15,926 - - 15,926 (135,348) 26,289 Acquisition of subsidiaries Changes in fair value 612,755 758,494 22,677 Changes that do not represent cash flows Exchange differences (230,631) (418,440) (2,992) Financial costs (1) 560,160 New financial leases 8,170 28,143 Other changes 1,673,078 (1,693,098) 139 - Balance at 12-31-2018 4,264,806 4,535,549 121,973 (113,974) - - - - - - - - Total 5,123,999 7,240,478 (4,327,503) (439,552) 2,473,423 1,393,926 (787,411) 594,619 28,143 (19,881) 8,808,354 - - - - - - - - - - - 9 - - - 413 - - 1,123 1,536 (1) This relates to accrual of interest. NOTE 8. Other financial assets The detail of other financial assets as of December 31, 2020 and 2019, is as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Current Non-Current Other Financial Assets Financial assets at fair value through profit or loss (1) Financial assets measured at amortized cost (1) Financial assets at fair value with changes in results IFRIC 12 (2) Financial assets at fair value with changes in other comprehensive income Financial assets measured at amortized cost IFRIC 12 (3) Hedging derivatives (4) Non-hedging derivatives (5) Total 12-31-2020 118.383 13.827 - 12-31-2019 57.623 30.040 - - 10.283 86.465 1.321 230.279 - 12.689 18.508 1.523 120.383 12-31-2020 25.460 - 2.468.149 268 267.351 29.635 - 2.790.863 12-31-2019 70 3.139 2.652.064 320 342.599 51.619 - 3.049.811 (1) The amounts included in financial assets measured at fair value with changes to profit and loss and financial assets at amortized cost mainly correspond to time deposits and other highly liquid investments that are easily convertible in cash and are subject to low risk of change in their value but that do not strictly meet the definition of cash equivalents as defined in Note 3.g.2 (for example with maturity date above 90 days at the time of investment). (2) Corresponding to concession agreements that include Enel Distribución Río S.A., Enel Distribución Ceará S.A., Enel Distribución Goias S.A. and Enel Distribu- ción Sao Paulo S.A. (with balances as of December 31, 2020 of ThUS$ 831,941 (ThUS$ 898,154, as of December 31, 2019), ThUS$ 582,649 (ThUS$589,684 as of December 31, 2019), ThUS$43,318 (ThUS$37,589 as of December 31, 2019) and ThUS$ 1,010,241 (ThUS$1,126,637 as of December 31, 2019), respectively. The current legislation in effect, among other aspects, establishes that the Government in its capacity of grantor will use the New Replacement Value (VNR) in order to pay the applicable amounts to concession companies as compensation for those assets not amortized at the end of the concession term. On a monthly basis, distributors adjust the carrying amount of financial assets, once the present value of the estimated cash flows have been computed, using the rate of interest in effect for the payment corresponding to the end of concession; see Note 3.d.1. (3) Corresponding to the concession agreement in Enel Green Power Project I (Volta Grande); see Note 3.d.1. (4) See Note 23.2.a). (5) See Note 23.2.b). 252252 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information d) Reconciliation of liabilities arising from financing activities: IN THOUSANDS OF U.S. DOLLARS – THUS$ Short-term loans Long-term loans Lease liabilities Short-term loans Long-term loans Lease liabilities Liabilities from financing activities Used Paid interest 12.31.2020 Balance at 01-01-2020 1,422,681 4,818,468 190,269 From 1,359,012 582,583 - Cash flows from financing (1,689,240) (320,948) (91,207) (77,292) (5,755) Assets held to cover liabilities arising from financing activities (67,937) 114,004 Total 6,363,481 2,055,599 (1,857,739) (326,703) (128,843) IN THOUSANDS OF U.S. DOLLARS – THUS$ Liabilities from financing activities Used Paid interest 12.31.2019 Balance at 01-01-2019 4,264,806 4,535,549 121,973 From 3,401,133 1,525,820 - Cash flows from financing (7,150,100) (297,385) (59,177) (605,522) (9,077) Assets held to cover liabilities arising from financing activities (113,974) 95,512 Total 8,808,354 5,022,465 (7,506,662) (614,599) (3,098,796) IN THOUSANDS OF U.S. DOLLARS – THUS$ Liabilities from financing activities 01.01.2018 Used Paid interest Short-term loans Long-term loans Lease liabilities Assets held to cover liabilities arising from financing activities 688,497 4,352,974 104,492 From 4,295,111 2,929,441 - (21,964) 15,926 (2,902,062) (1,393,822) (31,619) (432,515) (7,037) Total 5,123,999 7,240,478 (4,327,503) (439,552) 2,473,423 (1) This relates to accrual of interest. Total (651,176) 491,376 (83,047) 114,004 Total (4,354,489) 1,228,435 (68,254) 95,512 Total at 12.31.2018 960,534 1,535,619 (38,656) 15,926 - - - - - - - - - Changes that do not represent cash flows Acquisition of subsidiaries - - - Changes in fair value 3,990 9 - Exchange differences (80,673) (516,196) (15,290) Financial costs (1) 323,080 9,757 9,286 New financial leases - - 45,639 Other changes 957,126 (784,683) (4,297) Balance at 12-31-2020 1,975,028 4,018,731 142,560 - - 9,691 (152,874) (15,286) - (1,907) (114,309) 13,690 (765,033) 326,837 45,639 166,239 6,022,010 Changes that do not represent cash flows Acquisition of subsidiaries - - - Changes in fair value 4,812 - - Exchange differences 8,608 (50,138) 10,866 Financial costs (1) 571,136 - 11,666 New financial leases - - 114,963 Other c hanges 927,808 (895,378) (945) Balance at 12-31-2019 1,422,681 4,818,468 190,269 - - (10,363) (32,030) - (7,082) (67,937) (5,551) (62,694) 582,802 114,963 24,403 6,363,481 Cash flows from financing Changes that do not represent cash flows Acquisition of subsidiaries 612,755 758,494 22,677 - 1,393,926 Changes in fair value 413 - - 1,123 1,536 Exchange differences (230,631) (418,440) (2,992) Financial costs (1) 560,160 8,170 New financial leases - - 28,143 Other changes 1,673,078 (1,693,098) 139 Balance at 12-31-2018 4,264,806 4,535,549 121,973 (135,348) 26,289 - - (113,974) (787,411) 594,619 28,143 (19,881) 8,808,354 NOTE 9. Other non-financial assets and liabilities a) The detail of other non-financial assets as of December 31, 2020 and 2019, is as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Other non-financial assets 12-31-2020 12-31-2019 12-31-2020 12-31-2019 Current Non-Current VAT Credit and Other Taxes Contributions fund to Enel Distribución Goiás (1) Ongoing services provided by third parties Ongoing I & D and Energy Efficiency service Judicial Deposits Assets under construction IFRIC 12 (2) Recoverable taxes - Pis/Cofins (3) Prepaid expenses Other Total 68.200 7.536 9.993 90.349 - - 211.611 53.783 119.314 57.124 3.357 10.929 94.672 - - 169.404 18.193 132.483 118.268 180.824 - - 267.266 314.825 1.366.883 - 84.790 141.807 234.947 - - 340.477 358.289 1.435.282 - 225.088 560.786 486.162 2.332.856 2.735.890 (1) Through Law 17,555 of January 20, 2012, the state of Goiás in Brazil created the Contribution Fund for Enel Distribución Goiás (Fundo de Aporte à CELG D - FUNAC), regulated by Decree No. 7,732, dated September 28, 2012, with the purpose of collecting and allocating financial resources for reimbursement to Enel Distribución Goiás of the payments of contingencies 253 Annual Report Enel Américas 2020 of any nature which had taken place up until the transfer of equity control to Eletrobrás, which occurred during January 2015, according to the terms of the agreement between the shareholders and the management, as well as FUNAC’s cooperation terms. The resources of the aforementioned fund depend on the contributions made by the government of the State of Goiás and the credits received for lawsuits won by Enel Distribución Goiás, which occurred during January 2015, which are reimbursed to the respective fund. During 2019, the State of Goiás enacted a law, which limits the period of coverage of Law 17,555, from January 2015 to April 2012. The Group is taking all appropriate measures to maintain the rights acquired at the time of the purchase of Enel Distribuição Goiás, which are guaranteed by the State of Goiás itself, as established in the purchase and sale agreement signed on February 14, 2017. The appeals presented by the Group argue that the right to the guarantee is legal and contractual, given that the actions of the State of Goiás are clearly illegal, and the possibility that the legal actions will not result in a favorable ruling for the Company are considered remote. (see Note 35.3.b.19). In addition, since the resources are not final, as of December 2020 and as of the 2019 year-end an impairment loss was recognized in the amount of ThUS$14,479 and ThUS$110,774, respectively, corresponding to the amount of accounts receivable generated from April 2012 to January 2015. (2) Corresponds to assets under construction referring to concessions of the subsidiaries Enel Distribución Río S.A., Enel Distribución Ceará S.A., Enel Distribución Goiás S.A. and Enel Distribución Sao Paulo S.A. (3) In March 2017, the Federal Supreme Court of Brazil (STF) resolved a matter of general applicability, related to the calculation of PIS and COFINS taxes. The STF confirmed the view that the ICMS tax should not be part of the base for calculation of PIS and COFINS taxes; however, the Brazilian federal government filed an appeal, in order to determine the temporary effects and make some clarifications. Our subsidiaries in Brazil that were affected by the resolution of the STF, filed legal actions in this sense, in the respective Federal Regional Courts. In 2019, Enel Distribución Sao Paulo and Enel Distribución Ceará were notified of the final decisions issued by those Courts, recognizing their right to deduct the ICMS applied to their own operations from the calculation bases of the PIS and COFINS, for the periods from December 2003 to December 2014 for Enel Distribución Sao Paulo, and from May 2001 and onward for Enel Distribución Ceará. In March 2020, Enel Distribución Sao Paulo received a similar notification for the period from January 2015 and onward. Considering various analyses both internal and provided by legal advisors, as well as the best estimates available, Enel Distribución Sao Paulo and Enel Distribución Ceará recognized assets in the amount of ThUS$1,326,297 and ThUS$252,197, respectively, at year end 2020 (ThUS$1,244,266 and ThUS$360,420, respectively, as of December 31, 2019). Since the excess payment of the PIS and COFINS taxes was passed down to the end customers at the time, simultaneous to recognizing these recoverable taxes, our subsidiaries have recognized a regulatory liability for the same amounts indicated above, net of any cost incurred or to be incurred by the Companies in these legal proceedings. These liabilities represent the obligation to reimburse the taxes recovered to the end customers. The Group will adopt the tax credit recovery procedures in accordance with legal provisions. The transfer to consumers will depend on the effective use of the tax credit by the Companies and will take place in accordance with the regulations of the Agencia Nacional de Energía Eléctrica (ANEEL). On the other hand, the legal actions filed by our subsidiaries Enel Distribución Rio and Enel Distribución Goias are pending resolution, waiting for the final decision of the respective Regional Courts. It is important to note that the PIS and the COFINS are federal contributions paid by companies in Brazil intended to finance programs for employees, public health, social assistance and social security and are applied to the gross income of the companies. The “tax on movement of goods and services” (ICMS) is a state value-added tax (VAT) in Brazil, applied to the sale of telecommunications and transportation goods and services. (See Note 24 and 35.3.b.25). 254254 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information b) The detail of other non-financial liabilities as of December 31, 2020 and 2019, is as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Other non-financial liabilities VAT Credit and Other Taxes Other Total Current Non-Current 12-31-2020 12-31-2019 12-31-2020 12-31-2019 230.395 36.209 286.816 33.939 48.266 68.695 57.009 54.259 266.604 320.755 116.961 111.268 NOTE 10. Trade and other receivables a) The detail of trade and other receivables as of December 31, 2020 and 2019, is as follows IN THOUSANDS OF U.S. DOLLARS – THUS$ Trade and Other Receivables, Gross Trade and other receivables, gross Trade receivables, gross Accounts receivable from finance leases, gross Other receivables, gross IN THOUSANDS OF U.S. DOLLARS – THUS$ Trade and Other Receivables, Net Trade and other receivables, net Trade receivables, net Accounts receivable from finance leases, net Other receivables, net (1) IN THOUSANDS OF U.S. DOLLARS – THUS$ Sectorial assets Brazil (i) Accounts receivable "low income" (ii) Receivables VOSA project (iii) Accounts receivables from employees Advances to suppliers Subsidy and contribution mechanisms Other Total Current Non-Current 12-31-2020 3.924.946 3.693.052 584 231.310 12-31-2019 12-31-2020 12-31-2019 4.243.413 3.219.045 - 1.024.368 643.923 354.376 8.214 281.333 617.218 122.428 - 494.790 Current Non-Current 12-31-2020 12-31-2019 12-31-2020 12-31-2019 3.234.935 3.008.544 568 225.823 3.504.457 2.576.458 - 927.999 578.524 289.361 8.000 281.163 587.957 99.876 - 488.081 Current Non-Current 12-31-2020 12-31-2019 12-31-2020 12-31-2019 - 27.593 43.800 7.869 28.441 33.545 84.575 557.504 168.025 42.442 11.024 21.226 27.133 100.645 - - 268.075 12.798 - - 290 166.040 - 308.077 12.850 - - 1.114 225.823 927.999 281.163 488.081 (i) Regulatory (or industry-wide) assets and liabilities are recorded as a result of the signing in December 2014 of significant amendments to the original concession agreements entered into by our electricity distribution subsidiaries in Brazil. These amendments established that, in addition to the compensation amounts derived from investments not amortized during the respective concession periods (see Note 9 (2)), the balances of regulatory assets and liabilities that had not been recovered or returned through the tariff cycles will also be subject to compensation or return by the Brazilian government. This implies that the realization of these assets or the settlement of liabilities does not depend on the invoicing made to customers during the concession period. 255 Annual Report Enel Américas 2020These regulatory assets and liabilities arise from the differences between the actual cost and the cost considered in the tariff adjustments and generate an asset to the extent that the actual cost is greater than the one considered in the tariff, or a liability when the actual costs are lower than those considered in the tariff. These differences are considered by ANEEL, which is the government entity that regulates electricity tariffs in Brazil, in the subsequent tariff adjustment process of each concessionaire company. In general, as a result of the normal operation of the companies, these regulatory assets and liabilities are collected or settled through invoices to customers over a period that is on average between 10 and 24 months. CONTA-COVID On May 18, Decree No. 10,350 was issued in the Official Gazette of Brazil, which authorized the creation of CONTA-COVID, which establishes a cash-advance mechanism for electricity distribution companies in respect to accounts receivable already accrued, which under normal circumstances would be recovered through future customer billing, once the corresponding tariff update processes have been carried out. The CONTA-COVID is managed by the Electric Energy Commercialization Chamber – CCEE. CONTA-COVID is regulated by Regulatory Resolution No. 885 issued by the Ministry of Mining and Energy, dated June 23, 2020, and its funds were obtained through a “sectorial loan”, entered into by a group of banks. The CCEE centralized the contracting of loan transactions and transferred the funds to the electricity distribution companies, in accordance with the limit established by ANEEL for each company. CONTA-COVID guarantees the economic resources necessary to compensate for the loss of income due to the pandemic and to protect the rest of the electricity sector’s production chain, by allowing electricity distribution companies to continue complying with their contracts. Additionally, CONTA-COVID avoided significant adjustments in electricity tariffs, since without this mechanism, there would have been an impact for consumers in the next readjustments, with payment in 12 months. With this mechanism, the impact will be diluted over a total period of 60 months. As of December 31, 2020, the amounts received by electricity distribution subsidiaries in Brazil (presented in the consolidated statement cash flows, under Other receipts from operating activities), which are recorded against the corresponding sectorial assets and liabilities, are summarized as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ CONTA COVID Enel Distribución Sao Paulo Enel Distribución Río Enel Distribución Goiás Enel Distribución Ceará Total 12-31-2020 263.102 150.728 99.009 85.005 597.844 The tariff increases deferred in this period will be paid by customers in up to 5 years from 2021, through a sectorial tariff charged by distributors and transferred to the CCEE. The CCEE, in turn, will amortize the loan entered into with the syndicate of the sectorial loan creditor banks. (ii) Accounts receivable to “low income” consumers to which a social discount is applied creating a “low income” final tariff, in which the Brazilian government replenishes such discount to our subsidiaries Enel Distribución Río S.A., Enel Distribución Ceará S.A., Enel Distribución Goias and Enel Distribución Sao Paulo S.A. through a state subsidy. (iii) Account receivables related to the Argentine Project. There are no significant trade and other receivables balances held by the Group that are not available for its use. The Group does not have customers to which it has sales representing 10% or more of its operating revenue for the years ended December 31, 2020 and 2019. 256256 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information Refer to Note 11.1 for detailed information on amounts, terms and conditions associated with accounts receivable from related companies. b) As of December 31, 2020 and 2019, the analysis of trade accounts receivables due and unpaid, but of which no impairment losses have been recorded, is as follows IN THOUSANDS OF U.S. DOLLARS – THUS$ Trade accounts receivables due and unpaid, but of which no impairment losses have been recorded 12-31-2020 12-31-2019 Less than three months Between three and six months Between six and twelve months More than twelve months Total 555.004 92.337 75.779 169.477 551.817 95.451 87.226 213.357 892.597 947.851 c) The reconciliation of changes in the allowance for credit losses of trade receivables is as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Trade accounts receivables due and unpaid, with impairment losses Balance as of January 1, 2019 Increases (decreases) for the year Amounts written off Foreign currency translation differences Balance as of December 31, 2019 Increases (decreases) for the year (*) Amounts written off Foreign currency translation differences Balance as of December 31, 2020 Current and Non-Current 799.865 159.250 (168.889) (22.009) 768.217 211.536 (112.591) (111.752) 755.410 (*) Impairment losses on trade accounts receivable amounted to ThUS$ 211,536 as of December 31, 2020, which represented an increase of 32.8% in comparison to the loss of ThUS$ 159,250 recorded in the 2019. This increase originated mainly due to the effects of a higher level of default generated by COVID-19, mainly from our Brazil distribution subsidiaries, in the amount of ThUS$ 113,095 offset by the effects of conversion of different foreign currencies in respect to the US dollar in the amount of ThUS$ 62,278. See Note 31.b) Trade and Other Accounts Receivable Impairment Losses. Write-offs for doubtful accounts Past-due debt is written off once all collection measures and legal proceedings have been exhausted and the debtors’ insolvency has been demonstrated. In our power generation business, this process normally takes at least one year of procedures for the few cases that arise in each country. In our distribution business, considering the differences in each country, the process takes at least 6 months in Argentina and Brazil and 12 months in Colombia and Peru. Overall, the risk of bad debt, and therefore the risk of writing off our trade receivables, is limited (see Notes 3.g.3 and 22.5). d) Additional information: • • Additional statistical information required under Official Bulletin 715 of the CMF, of February 3, 2012. See Appendix 2. Complementary Trade Accounts Information. See Appendix 2.1. 257 Annual Report Enel Américas 2020 NOTE 11. Balances and transactions with related parties Related party transactions are performed at current market conditions Transactions between the companies belonging to the Group have been eliminated on consolidation and are not itemized in this note. As of the date of these financial statements, no guarantees have been given or received nor has any allowance for bad or doubtful accounts been recorded with respect to receivable balances for related party transactions. The controlling shareholder of the Company is the Italian corporation Enel S.p.A. 11.1 Balances and transactions with related parties The balances of accounts receivable and payable as of December 31, 2020 and 2019 are as follows: a) Receivables from related companies IN THOUSANDS OF U.S. DOLLARS – THUS$ Taxpayer ID N° Company Country Relationship Currency Italy Common Immediate Parent EUR Description of Transaction Technical services Term of Transaction 12-31-2020 12-31-2019 12-31-2020 12-31-2019 Current Non-Current Less than 90 days - 145 Italy Italy Italy Italy Italy Italy Italy Argentina Italy Italy Spain Spain Spain Spain Spain Italy Italy Italy Peru Peru Mexico United States United States Peru Peru Colombia United States Argentina Colombia Chile Chile Chile Chile Chile Chile Chile Chile Chile Brazil Brazil Common Immediate Parent Parent Parent Parent Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent EUR EUR EUR BRL BRL EUR ARS ARS EUR EUR EUR EUR COP EUR EUR EUR Other services Less than 90 days Other services More than 90 days Other services Less than 90 days Other services Less than 90 days Other services Less than 90 days Other services Less than 90 days Other services Less than 90 days Other services Less than 90 days Other services Less than 90 days Other services Less than 90 days Other services Less than 90 days Other services Less than 90 days Other services Less than 90 days Other services Less than 90 days Other services Less than 90 days Other services Less than 90 days Common Immediate Parent EUR Other services Less than 90 days Common Immediate Parent Common Immediate Parent BRL PEN Other services Less than 90 days Other services Less than 90 days Common Immediate Parent PEN Other services Less than 90 days Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Associated Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent PEN US$ PEN PEN PEN COP US$ ARS COP US$ ARS COP CLP BRL CLP ARS CLP US$ Other services Less than 90 days Other services Less than 90 days Other services Less than 90 days Other services Less than 90 days Less than 90 days Energy sales Other services Less than 90 days Other services Less than 90 days Other services Less than 90 days Other services Less than 90 days Other services Less than 90 days Other services Less than 90 days Other services Less than 90 days Other services Less than 90 days Other services Less than 90 days Other services Less than 90 days Other services Less than 90 days Other services Less than 90 days Other services Less than 90 days 543 - 1,003 - 243 16 - - 265 1 18 1,289 - 86 46 - 102 105 - 133 33 93 43 2,271 - 709 - 7 - 430 - 7 2,377 222 802 22 92 2 119 254 1,027 38 421 17 4 101 188 36 18 1,288 29 115 53 81 47 67 445 501 37 - 41 2,853 8 675 325 13 2 882 97 - 1,792 46 746 22 15 2 Common Immediate Parent BRL Other services Less than 90 days 3,208 2,682 Common Immediate Parent BRL Tolls Less than 90 days 17 Brazil Argentina Italy United States Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent BRL ARS US$ EUR Energy sales Less than 90 days Other services Less than 90 days Other services Less than 90 days Other services Less than 90 days 32,544 22 58 141 15 1,122 - - - 46,950 16,369 32 - - - - - - - - - - - - - - - - - - - - - - - - - - - - 32 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 68 - - - - - - - - - - - - 779 - - - 847 Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Enel X S.R.L. Enel Global Infrastructure And Network Enel S.P.A. Enel S.P.A. Enel S.P.A. Enel S.P.A. E-Distribuzione S.P.A E-Distribuzione S.P.A Enel Green Power Argentina Enel Green Power S.P.A. Enel Global Trading S.P.A. Endesa España Enel Iberia S.R.L. Enel Iberia S.R.L. Endesa Operaciones y Servicios Comerciales S.L. Endesa Energía S.A. Enel Energia S.P.A Enel Global Thermal Generation S.R.L. Enel Global Thermal Generation S.R.L. Energética Monzon S.A.C. Proyectos Y Soluciones Renovables S.A.C. Energía Nueva Energía Limpia Mexico S.R.L Enel North América Inc. Enel North América Inc. Enel Green Power Perú Enel Green Power Perú Enel Green Power Colombia S.A.S Enel X North America SACME Enel X Colombia Foreign Foreign Foreign Foreign 76.536.353-5 Enel Chile S.A. 76.536.353-5 Enel Chile S.A. 76.536.353-5 Enel Chile S.A. 76.536.353-5 Enel Chile S.A. 76.536.353-5 Enel Chile S.A. 96.800.570-7 Enel Distribución Chile S.A. 91.081.000-6 Enel Generación Chile S.A. 91.081.000-6 Enel Generación Chile S.A. 76.412.562-2 Enel Green Power Chile S.A. Grupo Enel Green Power Brasil Participações Ltda Grupo Enel Green Power Brasil Participações Ltda Grupo Enel Green Power Brasil Participações Ltda Enel X Argentina S.A.U. E-Distributie Muntenia Electric Motor Werks, Inc. Foreign Foreign Foreign Foreign Foreign Foreign 258258 Total 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Informationb) Accounts payable to related companies IN THOUSANDS OF U.S. DOLLARS – THUS$ Taxpayer ID N° Company Country Relationship Currency Current Non-Current 12-31-2020 12-31-2019 12-31-2020 12-31-2019 Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent EUR EUR EUR US$ BRL US$ BRL ARS EUR EUR US$ EUR Common Immediate Parent EUR Term of Transaction Description of Transaction Technical Less than 90 days services Other services Less than 90 days IT services Less than 90 days Other services Less than 90 days Loans payable More than 90 days Loans payable More than 90 days Other services More than 90 days Dividends Less than 90 days Other services Less than 90 days Engineering Less than 90 days services Other services Less than 90 days Other services Less than 90 days Technical services Less than 90 days 3,685 3,702 252 67 145 150,269 745 - 217 25 8 1,116 2,830 336 - 57 - - - 18 221 - 11 1,259 31,107 33,938 Common Immediate Parent EUR Other services Less than 90 days 2,348 2,167 Common Immediate Parent EUR IT services Less than 90 days 16,858 - Common Immediate Parent BRL Common Immediate Parent Parent Parent Parent Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent EUR EUR EUR EUR CLP EUR EUR EUR EUR EUR Common Immediate Parent EUR Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent EUR COP EUR EUR EUR EUR EUR EUR EUR EUR BRL EUR US$ Common Immediate Parent EUR Less than 90 days Other services Less than 90 days Purchase of Less than 90 days materials Other services Less than 90 days Technical Less than 90 days services Less than 90 days IT services Less than 90 days Dividends Other services Less than 90 days Technical Less than 90 days services IT services Less than 90 days Other services Less than 90 days Other services Less than 90 days Technical services Engineering Less than 90 days services Other services Less than 90 days Other services Less than 90 days Technical services IT services Technical Less than 90 days services Other services Less than 90 days IT services Less than 90 days Other services Less than 90 days Other services Less than 90 days Other services Less than 90 days Other services Less than 90 days Other services Less than 90 days Technical services Less than 90 days Less than 90 days Less than 90 days - 1,117 1,501 9,063 51,334 3,417 160,914 2,129 4 1,547 54 1,321 - 8,504 50,841 - 277,267 30,186 11,695 11,702 212 9,934 7,113 1,424 2,978 - 629 8,196 942 3,967 304 785 2,586 1,394 - 318 - 4,883 63 506 4,434 - 2,350 1,462 - 1,958 1,295 223 122 87 15,279 3,581 Common Immediate Parent EUR IT services Less than 90 days 6,755 Common Immediate Parent EUR Other services Less than 90 days Common Immediate Parent Common Immediate Parent Common Immediate Parent PEN EUR US$ Common Immediate Parent EUR Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Associated Common Immediate Parent Common Immediate Parent Common Immediate Parent Associated Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent PEN PEN COP COP US$ ARS US$ CLP CLP ARS US$ CLP US$ US$ CLP CLP COP US$ CLP CLP Common Immediate Parent BRL Less than 90 days Other services Less than 90 days Other services Less than 90 days Technical services Less than 90 days Engineering services Energy Less than 90 days purchases Other services Less than 90 days Energy purchases Less than 90 days Other services Less than 90 days Other services Less than 90 days Other services Less than 90 days Other services Less than 90 days Other services Less than 90 days IT services Less than 90 days Other services Less than 90 days Other services Less than 90 days Other services Less than 90 days Other services Less than 90 days Engineering Less than 90 days services Other services Less than 90 days Engineering Less than 90 days services Other services Less than 90 days Other services Less than 90 days Other services Less than 90 days Other services Less than 90 days Energy purchases Less than 90 days - 547 141 464 23 48 1,672 153 1,549 7 38 229 3,237 3,518 806 - 902 205 272 552 412 945 212 - 387 1 892 220 704 18 52 1,328 70 2,637 16 1 163 1,583 2,126 631 11 766 345 240 - 780 1,777 - 4 430 - Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Enel X S.R.L. Enel X S.R.L. Enel X S.R.L. Enel X S.R.L. Enel Finance International NV (*) Enel Finance International NV (*) Enel Finance International NV Endesa Latinoamérica S.A. Endesa Generación S.A. Endesa Generación S.A. Endesa Generación S.A. Enel Sole Enel Global Infrastructure and Network Enel Global Infrastructure and Network Enel Global Infrastructure and Network Enel Global Infrastructure and Network Enel Italia S.R.L Enel S.P.A. Enel S.P.A. Enel S.P.A. Enel S.P.A. Enel Italia S.R.L Enel Italia S.R.L Enel Italia S.R.L E-Distribuzione S.P.A Enel Produzione Foreign Enel Produzione Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Enel Produzione Enel Produzione Enel Green Power S.P.A. Enel Green Power S.P.A. Enel Green Power S.P.A. Enel Global Trading S.P.A. Enel Global Trading S.P.A. Enel Global Trading S.P.A. Endesa España Enel Iberia S.R.L. Enel Iberia S.R.L. Endesa Energía S.A. Endesa Energía S.A. Enel Global Thermal Generation S.R.L. Enel Global Thermal Generation S.R.L. Enel Global Thermal Generation S.R.L. Proyectos y Soluciones Renovables S.A.C. Edistribución Redes Digitales, S.L. Edistribución Redes Digitales, S.L. Foreign Cesi S.P.A. Italy Italy Italy Italy Holland Holland Holland Argentina Spain Spain Spain Spain Italy Italy Italy Italy Italy Italy Italy Italy Italy Italy Italy Italy Italy Italy Italy Italy Italy Italy Italy Italy Italy Italy Italy Spain Spain Spain Spain Spain Italy Italy Italy Peru Spain Spain Italy Enel Green Power Perú Enel Green Power Perú Enel Green Power Colombia S.A.S Enel Green Power Colombia S.A.S Enel X North America SACME Foreign Foreign Foreign Foreign Foreign Foreign 76.536.353-5 Enel Chile S.A. 76.536.353-5 Enel Chile S.A. 76.536.353-5 Enel Chile S.A. Foreign Yacylec S.A. 96.800.570-7 Enel Distribución Chile S.A. 96.800.570-7 Enel Distribución Chile S.A. 91.081.000-6 Enel Generación Chile S.A. Peru Peru Colombia Colombia United States Argentina Chile Chile Chile Argentina Chile Chile Chile 91.081.000-6 Enel Generación Chile S.A. 91.081.000-6 Enel Generación Chile S.A. 91.081.000-6 Enel Generación Chile S.A. 91.081.000-6 Enel Generación Chile S.A. 76.412.562-2 Enel Green Power Chile S.A. 76.412.562-2 Enel Green Power Chile S.A. 76.924.079-9 Enel X Chile S.P.A Grupo Enel Green Power Brasil Participações Ltda Grupo Enel Green Power Brasil Participações Ltda Energética Monzon S.A.C. Enel Global Services S.r.L Enel Global Services S.r.L Chile Chile Chile Chile Chile Chile Chile Brazil Brazil Peru Italy Italy Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Total Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent 33,395 12,577 BRL PEN EUR EUR EUR EUR ARS EUR Other services Less than 90 days Other services Less than 90 days IT services Less than 90 days Other services Less than 90 days Technical Less than 90 days services Other services Less than 90 days Other services Less than 90 days Other services Less than 90 days 1,182 24 6,110 34,999 12,885 146 3 510 931 - - - - - - - Enel Global Services S.r.L Italy Servizio Elettrico Nazionale SpA Italy Enel X Argentina S.A.U. Electric Motor Werks, Inc. Argentina United States Common Immediate Parent Common Immediate Parent Common Immediate Parent Common Immediate Parent 597,122 494,511 144,391 - - - - 144,391 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 259 Annual Report Enel Américas 2020c) Significant transactions and effects on profit or loss: As of December 31, 2020, 2019 and 2018 the significant transactions with related companies that are not consolidated, are as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Taxpayer ID N° Company Country Relationship 76.536.353-5 Enel Chile S.A. Chile Common Immediate Parent Description of Transaction Management services and other 2020 2019 2018 (7,158) (7,707) (8,138) Enel Finance International NV Holland Common Immediate Parent Financial expenses (2,441) (127,977) (43,873) Enel Global Infrastructure and Network Enel Global Infrastructure and Network Enel Global Thermal Generation S.R.L. Italy Italy Italy Common Immediate Parent IT services (7,418) - Common Immediate Parent Technical services (30,448) (16,685) - - Common Immediate Parent Technical services Grupo Enel Green Power Brasil Participações Ltda Brazil Common Immediate Parent Energy sales Grupo Enel Green Power Brasil Participações Ltda Brazil Common Immediate Parent Energy purchases (147,841) (93,299) (126,627) (7,268) 54,158 (3,536) (5,561) 1,134 24,333 215 (1,472) 839 1,993 (2,913) 66 (8,483) (3,757) - - - - - - (7,156) - - - - - - - - - Grupo Enel Green Power Brasil Participações Ltda Brazil Common Immediate Parent Electricity tolls Grupo Enel Green Power Brasil Participações Ltda Brazil Common Immediate Parent Other services Enel Green Power Colombia S.A.S Colombia Common Immediate Parent Other services Enel Green Power Perú Enel Green Power Perú Enel Green Power Perú Peru Peru Peru Common Immediate Parent Other services Common Immediate Parent Energy purchases Common Immediate Parent Energy sales Enel Green Power Colombia S.A.S Spain Common Immediate Parent Energy purchases Enel Green Power S.P.A Enel Italia S.R.L Enel Italia S.R.L Enel S.P.A. Enel S.P.A. Enel X S.R.L. Proyectos y Soluciones Renovables S.A.C. Enel Global Services S.r.L Italy Italy Italy Italy Italy Italy Peru Italy Total Common Immediate Parent Technical services Common Immediate Parent IT services (758) (12,278) (12,211) Common Immediate Parent Technical services Other services - (4,045) (6,778) (2,827) Technical services (11,542) (11,554) Parent Parent Common Immediate Parent Technical services Common Immediate Parent Other services Common Immediate Parent IT services (2,852) (31) (7,051) - - - (4,158) (1,077) (2,083) - - - Total (188,207) (288,663) (179,395) Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign d) Significant transactions Enel Américas: ˝ On September 26, 2018, Enel Finance International NV executed with Enel Brasil a credit agreement in reais for the amount of BRL 9,400 million, which was actually disbursed on October 5, 2018 at a fixed interest rate of 7.676% a year and was not secured by any collateral, with a single repayment of principal and interest at maturity on July 2, 2019. The funds were used for the prepayment of promissory notes held by Enel Brasil and Enel Sudeste issued for the purchase of Eletropaulo, currently Enel Distribución Sao Paulo. The debt was paid off on the maturity date, of July 2, 2019. • On December 14, 2018, Enel Finance International NV executed with Enel Distribución Ceará a credit agreement in reais for the amount of BRL 300 million, which was disbursed on December 18, 2018, at a fixed annual interest rate of 8% for one year, with no guarantees provided and with a single principal and interest payment on the maturity date of December 18, 2019 (1 year term). The funds of this financing were used for working capital and it was paid off on its maturity date. • On December 14, 2018, Enel Finance International NV executed with Enel Distribución Sao Paulo, a credit agreement in reais for the amount of BRL 420 million, which was disbursed on December 18, 2018, at a fixed annual interest rate of 8% for one year, with no guarantees provided and with a single principal and interest payment on the maturity date of December 18, 2019 (1 year term). The funds of this financing were used for working capital and it was terminated on its maturity date. • On May 20, 2020, Enel Américas S.A. formalized and completely used, a committed revolving credit facility with Enel Finance International N.V. for a total of US$150 million at a variable interest rate of LIBOR 1M, 3M or 6M plus a 1.35% margin, with monthly, quarterly or biannual interest payments with expiration date of May 20, 2021. This revolving credit facility has no guarantees. As of December 31, 2020, this facility was fully drawn. 260260 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information• On June 17, 2020, Enel Finance International NV entered into a revolving credit agreement with Enel Brasil S.A. denominated in Brazilian reais for an amount of BRL 800 million at a variable interest rate and with a maturity date of June 12, 2021. As of December 31, 2020, this revolving credit facility has not been drawn. • On December 21, 2020, Enel Finance International NV formalized an unsecured loan agreement with Enel Distribución Río, denominated in Brazilian reais, in the amount of BRL 750 million, at a fixed interest rate of 3.4%, with payments of interest made annually to be paid in full on the maturity date, January 22, 2024 , which is the date when its principal and interest amortize. 11.2 Board of directors and key management personnel The Company is managed by a Board of Directors which consists of seven members. Each director serves for a three-year term after which they can be reelected. The Board of Directors as of December 31, 2020 was elected at the General Shareholders Meeting held on April 30, 2019, and is composed of the following members: • • • • • • Mr. Francisco de Borja Acha Besga Mr. José Antonio Vargas Lleras Mr. Enrico Viale Mr. Hernán Somerville Senn Mr. Patricio Gómez Sabaini Mr. Domingo Cruzat Amunátegui On November 9, 2020, Mr. Livio Gallo resigned as Director of the Company and, to date, the Board of Directors has not appointed a replacement. According to the provisions of Law 18,046 (Chilean Corporations Law), during the next Ordinary Shareholders’ Meeting held by the Company, the entire Board of Directors must be renewed. At the Board of Directors’ meeting held on April 29, 2016, Mr. Francisco de Borja Acha Besga was appointed as Chairman of the Board, Mr. José Antonio Vargas Lleras was appointed as Vice Chairman of the Board and Mr. Domingo Cruzat Amunátegui was appointed as Secretary of the Board. Likewise, at the same Board of Directors Meeting, the Directors’ Committee was elected under the requirements of Law 18,046 (Chilean Corporations Law) and the Sarbanes-Oxley Act. The Directors’ Committee is composed of the following independent directors: Mr. Hernán Sommerville Senn (as Chairman), Mr. Patricio Gómez Sabaini and Mr. Domingo Cruzat Amunátegui (as Secretary). The Board of Directors determined that Mr. Hernan Sommerville Senn is a financial expert for the Directors’ Committee of the Company. a) Accounts receivable and payable and other transactions • Accounts receivable and payable There are no outstanding amounts receivable or payable between the Company and the members of the Board of Directors and key management personnel. • Other transactions No transactions other than the payment of compensation has taken place between the Company and the members of the Board of Directors and key management personnel. 261 Annual Report Enel Américas 2020b) Compensation for directors. In accordance with Article 33 of Law No. 18,046 (Chilean Corporations Law) governing stock corporations, the compensation of Directors is established each year at the General Shareholders Meeting of the Company. The compensation consists of paying each member of the Board of Directors monthly compensation, one part in a fixed monthly fee and another part dependent on meetings attended. The breakdown of this compensation is as follows: • • UF 216 as a fixed monthly fee, and UF 79.2 as a per diem for each Board meeting attended with a maximum of 16 sessions in total whether ordinary or extraordinary, within the corresponding exercise. According to the provisions of the bylaws, the remuneration of the Chairman of the Board will be twice that of a Director. In the event a Director of Enel Américas participates in more than one Board of Directors of domestic or foreign subsidiaries and / or affiliates or acts as director or consultant for other domestic or foreign companies or legal entities in which Enel Américas has a direct or indirect interest, he/she may receive remuneration only in one of said Boards of Directors or Management Boards. The executive officers of Enel Américas S.A. and/or its domestic or foreign subsidiaries or affiliates will not receive remunerations or per diem allowances if acting as directors in any of the domestic or foreign Enel Américas’ subsidiaries, affiliates or investee in any way. Therefore, said remunerations or per diem allowances may be received by the executive officers as long as this is previously and expressly authorized as an advance of their variable portion of remuneration by the corresponding companies with which they are associated through an employment contract. Directors’ Committee: Each member will be paid monthly compensation, one part in a fixed monthly fee and another part dependent on meetings attended. This compensation is broken down as follows: • • UF 72 as a fixed monthly fee, in any event, and UF 26.4 as a per diem for each Board meeting attended, all with a maximum of 16 meetings in total, whether ordinary or extraordinary, within the corresponding fiscal year. The following tables show details of the compensation paid to the members of the Board of Directors of the Company for the years ended December 31, 2020, 2019 and 2018: IN THOUSANDS OF U.S. DOLLARS – THUS$ Name Francisco de Borja Acha Besga Position Chairman Period in position January - December 2020 José Antonio Vargas Lleras Vice Chairman January - December 2020 Director Director Director Director Director January - December 2020 January - November 2020 January - December 2020 January - December 2020 January - December 2020 Taxpayer ID N° Foreigner Foreigner Foreigner Foreigner Enrico Viale Livio Gallo 4.132.185-7 Hernán Somerville Senn Foreigner Patricio Gómez Sabaini 6.989.304-K Domingo Cruzat Amunátegui Total 262262 2020 Enel Américas Board Board of Subsidiaries Directors’ Committee - - - - 143 143 143 429 - - - - - - - - - - - - 47 47 47 141 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationIN THOUSANDS OF U.S. DOLLARS – THUS$ Taxpayer ID N° Foreigner Foreigner Foreigner Foreigner Enrico Viale Livio Gallo 4.132.185-7 Hernán Somerville Senn Foreigner Patricio Gómez Sabaini 6.989.304-K Domingo Cruzat Amunátegui Total IN THOUSANDS OF U.S. DOLLARS – THUS$ Taxpayer ID N° Foreigner Foreigner Foreigner Foreigner Enrico Viale Livio Gallo 4.132.185-7 Hernán Somerville Senn Foreigner Patricio Gómez Sabaini 6.989.304-K Domingo Cruzat Amunátegui Total Name Francisco de Borja Acha Besga Position Chairman Period in position January - December 2019 José Antonio Vargas Lleras Vice Chairman January - December 2019 Director Director Director Director Director January - December 2019 January - December 2019 January - December 2019 January - December 2019 January - December 2019 Name Francisco de Borja Acha Besga Position Chairman Period in position January - December 2018 José Antonio Vargas Lleras Vice Chairman January - December 2018 Director Director Director Director Director January - December 2018 January - December 2018 January - December 2018 January - December 2018 January - December 2018 2019 Enel Américas Board Board of Subsidiaries Directors’ Committee - - - - - - - - - - - - 48 48 48 144 - - - - 159 159 159 478 2018 Enel Américas Board Board of Subsidiaries Directors’ Committee - - - - 166 163 166 495 - - - - - - - - - - - - 50 50 50 150 c) Guarantees given by the Company in favor of the directors. No guarantees have been given to the directors. 11.3 Compensation of key management personnel a) Remunerations received by key management personnel KEY MANAGEMENT PERSONNEL Taxpayer ID No. Foreigner Foreigner 10.560.169-7 25.067.660-3 Foreigner 6.973.465-0 Name Maurizio Bezzeccheri (1) Aurelio Ricardo Bustilho de Oliveira (2) Francisco Miqueles Ruz (3) Simone Tripepi (4) Raffaele Cutrignelli (5) Domingo Valdés Prieto (5) Position Chief Executive Officer Administration, Finance and Control Manager Planning and Control Manager Enel X South America Manager Internal Audit Manager Attorney and Secretary of the Board (1) Mr. Maurizio Bezzeccheri assumed the position of Chief Executive Officer on August 1, 2018. (2) Mr. Aurelio Ricardo Bustilho de Oliveira assumed the position of Administration, Finance and Control Manager on October 1, 2018. (3) Mr. Francisco Miqueles Ruz assumed the position of Planning and Control Manager on February 26, 2020, replacing Mr. Paolo Pescarmona. (4) Mr. Simone Tripepi assumed the position of Enel X South America Manager on August 29, 2019. (5) Messrs. Raffaele Cutrignelli and Domingo Valdés Prieto, executive officers of Enel Américas, are paid exclusively by Enel Chile S.A. who is their employer, but they provide services to the Company by virtue of an intercompany contract between those companies. Incentive plans for key management personnel Enel Américas has implemented an annual bonus plan for its executives based on meeting company-wide objectives and on the level of their individual contribution in achieving the overall goals of the Group. The plan provides for a range of bonus amounts according to seniority level. The bonuses paid to the executives consist of a certain number of monthly gross remunerations. 263 Annual Report Enel Américas 2020Compensation of key management personnel is the following: IN THOUSANDS OF U.S. DOLLARS – THUS$ Remuneration Short-term benefits for employees Other long-term benefits - IAS 2020 3,495 148 7 2019 2,407 106 2018 2,586 21 - - Total 3,650 2,513 2,607 b) Guarantees established by the Company in favor of key management personnel. No guarantees have been given to key management personnel. 11.4 Compensation plans linked to share price There are no payment plans granted to the Directors or key management personnel based on the share price of the Company. NOTE 12. Inventories The detail of inventories as of December 31, 2020 and 2019 is as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Classes of Inventories Supplies for Production Oil Coal Spare parts Electrical materials Total 12-31-2020 12-31-2019 26,685 16,686 9,999 53,013 391,735 35,589 25,475 10,114 32,145 328,505 471,433 396,239 There are no inventories acting as security for liabilities. For the years ended December 31, 2020, 2019 and 2018, raw materials and inputs recognized as fuel cost amount to ThUS$ 137,850, ThUS$ 277,117 and ThUS$ 226,843 respectively (see Note 29). For the years ended December 31, 2020, 2019 and 2018 there have been no impairments recognized in inventories. NOTE 13. Current tax assets and liabilities a) The detail of current tax receivables as of December 31, 2020 and 2019, is as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Tax Receivables Monthly provisional tax payments Other Total 264264 12-31-2020 12-31-2019 118,609 9,271 98,158 9,163 127,880 107,321 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information b) The detail of current tax payables as of December 31, 2020 and 2019, is as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Tax Payables Income tax Total 12-31-2020 12-31-2019 222,870 220,727 222,870 220,727 NOTE 14. Investments accounted for using the equity method 14.1 Investments accounted for using the equity method a. The investments of the Group accounted for using the equity method and their changes during the years ended December 31, 2020 and 2019, are detailed as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Relationship Country Associate Associate Argentina Argentine peso Argentina Argentine peso Functional Currency Ownership Interest % 33,33% 50,00% Balance as of 01-01-2020 1.220 186 Share of Profit (Loss) 475 28 Dividends Declared (345) - Foreign Currency Translation (252) (54) Other Com- prehensive Income - - Other Increase (Decrease) - (75) Argentine hyperinfla- tionary economy (103) 48 Balance as of 12-31-2020 995 133 Taxpayer ID No. Foreigner Foreigner Associates and Joint Ventures Yacylec S.A. Sacme S.A. Central Térmica Manuel Belgrano (1) Foreigner Associate Foreigner Central Térmica San Martin (1) Associate Foreigner Central Vuelta Obligado S.A. Associate Argentina Argentine peso Argentina Argentine peso Argentina Argentine peso - - 40,90% 32 249 291 687 732 1.211 (483) (548) (481) (9) (72) (84) Total 1.978 3.133 (1.857) (471) IN THOUSANDS OF U.S. DOLLARS – THUS$ - - - - (227) (361) 208 - - - - - 1.145 (455) (55) 2.273 Taxpayer ID No. Foreigner Foreigner Associates and Joint Ventures Yacylec S.A. Sacme S.A. Central Térmica Manuel Belgrano Associate Foreigner Foreigner Central Térmica San Martin Associate Foreigner Central Vuelta Obligado S.A. Associate Total Relationship Country Associate Associate Argentina Argentine peso Argentina Argentine peso Functional Currency Ownership Interest % 33,33% 50,00% Balance as of 01-01-2019 556 236 Share of Profit (Loss) (227) 20 Dividends Declared - (62) Foreign Currency Translation (362) (87) Other Com- prehensive Income - - Other Increase (Decrease) 668 - Argentine hyperinfla- tionary economy 585 79 Balance as of 12-31-2019 1.220 186 Argentina Argentine peso Argentina Argentine peso Argentina Argentine peso 25,60% 25,60% 40,90% 868 931 5 2.596 117 165 508 583 (631) (501) (220) (322) (346) (2) (1.414) (1.119) - - - - - - - - - - 32 249 291 668 664 1.978 (1) During November 2020, all conditions were met to allow the Argentine government to enter into the ownership of the Manuel Belgrano Thermal Power Plant and the San Martin Thermal Power Plant. This situation caused the Group to lose significant influence in those plants (see Note 35.6). Based on the above, the Group reclassified these investments as financial assets at fair value through profit or loss, generating a finance income of ThUS$ 24,893 at year end of 2020 (see Note 33). 265 Annual Report Enel Américas 2020b. Additional financial information on investments in associates - Investments with significant influence. The following tables set forth financial information as of December 31, 2020 and 2019, from the financial statements of the investments in associates where the Group has significant influence: IN THOUSANDS OF U.S. DOLLARS – THUS$ 12-31-2020 Investments with Significant Influence Ownership Interest Direct / Indirect % Current Assets Non-Current Assets Current Liabilities Non-Current Liabilities Revenue Expenses Yacylec S.A. 33.33% 3,975 1,314 866 1,437 3,388 (1,963) Profit (Loss) 1,425 Other Com- prehensive Income Comprehen- sive Income (755) 670 IN THOUSANDS OF U.S. DOLLARS – THUS$ Investments with Significant Influence Ownership Interest Direct / Indirect % Current Assets Non-Current Assets Current Liabilities Non-Current Liabilities Revenue Expenses 12-31-2019 Yacylec S.A. 33.33% 4,831 1,323 932 1,562 3,085 (4,155) Profit (Loss) (1,070) Other Com- prehensive Income Comprehen- sive Income (1,585) (2,655) None of our associates have issued price quotations. There are no significant commitments and contingencies, or restrictions to the availability of funds in associated companies and joint ventures. NOTE 15. Intangible assets other than goodwill The following table presents intangible assets other than Goodwill as of December 31, 2020 and 2019: IN THOUSANDS OF U.S. DOLLARS – THUS$ Classes of Intangible Assets, gross Intangible Assets, gross Easements and water rights Concessions Development costs Patents, registered trademarks and other rights Computer software Other identifiable intangible assets IN THOUSANDS OF U.S. DOLLARS – THUS$ Intangible Assets, Amortization and Impairment Accumulated Amortization and Impairment Easements and water rights Concessions Development costs Patents, registered trademarks and other rights Computer software Other identifiable intangible assets IN THOUSANDS OF U.S. DOLLARS – THUS$ Classes of Intangible Assets, Net Intangible Assets, Net Easements and water rights Concessions, Net (1) Development costs Patents, registered trademarks and other rights Computer software Other identifiable intangible assets 266266 12-31-2020 8,525,990 50,415 8,042,389 14,544 44,596 372,455 1,591 12-31-2020 (4,001,164) (16,969) (3,807,526) (9,708) (23,499) (141,994) (1,468) 12-31-2020 4,524,826 33,446 4,234,863 4,836 21,097 230,461 123 12-31-2019 10,206,344 47,752 9,787,352 14,494 46,644 308,336 1,766 12-31-2019 (4,678,465) (16,265) (4,505,624) (9,948) (21,154) (123,906) (1,568) 12-31-2019 5,527,879 31,487 5,281,728 4,546 25,490 184,430 198 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information IN THOUSANDS OF U.S. DOLLARS – THUS$ Concession Holder Enel Distribución Río S.A. (*) Enel Distribución Ceará S.A. (*) Enel Distribución Goias S.A. (*) Enel Distribución Sao Paulo S.A. (*) EGP Cachoeira Dourada S.A. TOTAL 12-31-2020 12-31-2019 534,325 434,656 1,240,641 1,965,083 60,158 688,901 543,441 1,457,864 2,591,522 - 4,234,863 5,281,728 (*) Public service concession agreements to a private operator are recorded in accordance with IFRIC 12 Service Concession Agreements (see Note 3.d.1). The reconciliations of the carrying amounts of intangible assets as of December 31, 2020 and 2019 are as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Changes in Intangible Assets Development Costs Easements Concessions Patents, Registered Trademarks and Other Rights Opening balance as of January 1, 2020 4,546 31,487 5,281,728 25,490 Computer Software 184,430 Changes in identifiable intangible assets: Increases other than from business combinations Increase (decrease) from foreign currency translation differences Amortization Increases (decreases) from transfers and other changes Increases (decreases) from transfers Disposals and removal from service Removals from service Argentine hyperinflationary economy Other increases (decreases) Total changes in identifiable intangible assets - (263) (146) 488 488 - - - 211 290 - 738,387 - 82,988 (1,472) (1,257) 4,688 4,688 - - - - (1,192,132) (357,855) (996) (996) (16,522) (16,522) 37 (217,784) (1,705) (3,149) 461 461 - - - - (20,661) (29,963) (4,641) (4,641) - - 9,991 8,317 Other Identifiable Intangible Assets, net 198 - (16) (59) - - - - - - Intangible Assets, Net 5,527,879 821,375 (1,216,249) (392,429) - - (16,522) (16,522) 10,028 (209,256) 1,959 (1,046,865) (4,393) 46,031 (75) (1,003,053) Closing balance as of December 31, 2020 4,836 33,446 4,234,863 21,097 230,461 123 4,524,826 IN THOUSANDS OF U.S. DOLLARS – THUS$ Changes in Intangible Assets Development Costs Easements Concessions Patents, Registered Trademarks and Other Rights Opening balance as of January 1, 2019 4,255 43,235 5,637,387 14,118 Computer Software 128,218 Changes in identifiable intangible assets: Increases other than from business combinations Increase (decrease) from foreign currency translation differences Amortization Increases (decreases) from transfers and other changes Increases (decreases) from transfers Disposals and removal from service Removals from service Argentine hyperinflationary economy Other increases (decreases) Total changes in identifiable intangible assets 13 38 (387) - - - - - 178 601,792 1,042 83,051 (187) (1,181) 1,804 1,804 - - - (202,951) (437,962) - - (15,675) (15,675) - (300,863) (355,659) (85) (3,486) (5,040) (5,040) - - - 18,941 11,372 (8,651) (22,429) 3,236 3,236 - - 7,391 (6,386) 56,212 627 291 (12,362) (11,748) Other Identifiable Intangible Assets, net 76 - - (62) - - - - - 184 122 Intangible Assets, Net 5,827,289 686,076 (211,836) (465,507) - - (15,675) (15,675) 7,391 (299,859) (299,410) Closing balance as of December 31, 2019 4,546 31,487 5,281,728 25,490 184,430 198 5,527,879 As of December 31, 2020, the main additions to concession intangible assets in the amount of ThUS$738,387 arise mainly from Enel Distribución Río S.A., Enel Distribución Ceará S.A., Enel Distribución Sao Paulo S.A. and Enel Distribución Goiás S.A. for investments in networks and extensions to optimize their operation, in order to improve the efficiency and quality of the level of service. These are recorded under concessions, in accordance with IFRIC 12 (See Note 3.d.1). As of December 31, 2019, the main additions to intangible assets for a total of ThUS$601,792 arise mainly from Enel Distribución Río S.A., Enel Distribución Ceará S.A., Enel Distribución Sao Paulo S.A. and Enel Distribución Goiás S.A. Additions to intangible assets for the year ended December 31, 2020 and 2019, amounted to ThUS$821,375 and ThUS$686,076, respectively. 267 Annual Report Enel Américas 2020The amortization of intangible assets amounted to ThUS$376,465, ThUS$449,463 and ThUS$351,114 for the years ended December 31, 2020, 2019 and 2018, respectively, which are presented net of PIS and COFINS taxes in the Brazilian subsidiaries. The financial expenses capitalized for the years ended December 31, 2020, 2019 and 2018 were ThUS$ 1,185 ThUS$7,611 and ThUS$14,407, respectively (see Note 33). The average financing rate by averaging the financing rates from different geographical areas as 4.98%, 9.27% and 8.95% for the years ended December 31, 2020, 2019 and 2018, respectively. During the years ended December 31, 2020, 2019 and 2018 the expenses for personnel directly related to constructions in progress were activated for the item of concessions for the amount of ThUS$76,470, ThUS$89,154 and ThUS$82,662, respectively. No impairment losses have been recognized as of December 31, 2020, and 2019. According to the estimates and projections of the Group management, the projections for the cash flows attributed to intangible assets allow recovering the net value of these assets recorded as of December 31, 2020 and 2019 (see Note 3.e). As of December 31, 2020, and 2019, the Company has no intangible assets of indefinite useful life that can represent significant amounts. NOTE 16. Goodwill The following table sets forth goodwill by cash-generating unit or group of cash-generating units to which it belongs and changes for the years ended December 31, 2020 and 2019: IN THOUSANDS OF U.S. DOLLARS – THUS$ Company Cash Generating Unit Opening balance 01-01-2019 Foreign Currency Translation Enel Distribución Rio S.A. Enel Distribución Río S.A. 219.380 (8.013) Compañía Distribuidora y Comercializadora de Energía S.A. Compañía Distribuidora y Comercializadora de Energía S.A. Enel Generación El Chocón S.A. Enel Generación El Chocón S.A. Enel Distribución Perú S.A. Enel Distribución Perú EGP Cachoeira Dourada S.A. EGP Cachoeira Dourada S.A. Enel Generación Perú S.A. Enel Generación Perú Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Enel Perú S.A. Enel Brasil S.A. Enel Distribución Perú Enel Brasil S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Sao Paulo S.A. Enel Distribución Sao Paulo 13.343 26.255 68.347 80.441 128.643 5.902 20 1.021 110.429 551.789 (152) (9.741) 1.300 (2.938) 2.447 (67) 3 (37) (4.033) (20.154) Argentine hyperinfla- tionary economy - - 8.858 - - - - - - - - Closing balance 12-31-2019 Foreign Currency Translation 211.367 (47.672) 13.191 25.372 69.647 77.503 131.090 5.835 23 984 106.396 531.635 (529) (7.299) (5.801) (17.480) (10.918) (234) (3) (222) (23.997) (119.906) Argentine hyperinfla- tionary economy - - 6.530 - - - - - - - - Closing balance 12-31-2020 163.695 12.662 24.603 63.846 60.023 120.172 5.601 20 762 82.399 411.729 Total 1.205.570 (41.385) 8.858 1.173.043 (234.061) 6.530 945.512 According to the Group management’s estimates and projections, the expected future cash flows projections attributable to the cash-generating units or groups of cash-generating units, to which the acquired goodwill has been allocated, allow the recovery of its carrying amount as of December 31, 2020 (see Note 3.e). The origin of the goodwill is detailed below: 1.- Enel Distribución Rio S.A. (formerly Ampla Energia e Serviços S.A.) On November 20, 1996, the Company and Enel Distribución Chile S.A. (formerly named Chilectra S.A.), together with Endesa, S.A. and Electricidad de Portugal, acquired a controlling equity interest in Cerj S.A. (now Enel Distribución Rio S.A.) of Rio de Janeiro in Brazil. The Company and Enel Distribución Chile S.A. together acquired 42% of the total shares in an international public bidding process held by the Brazilian government. The Company and Enel Distribución Chile S.A. also acquired an additional 18.5% on December 31, 2000, as such, holding, directly and indirectly, a total 60.5% ownership interest. 268268 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information2.- Enel Distribución Ceará S.A. (formerly Compañía Energética Do Ceará S.A.) Between 1998 and 1999, the Company and its former subsidiary Enel Distribución Chile S.A., together with Endesa, S.A., acquired Compañía de Distribución Eléctrica del Estado de Ceará (now named Enel Distribución Ceará S.A.) in northeast Brazil in an international public bidding process held by the Brazilian government. 3.- Compañía Distribuidora y Comercializadora de Energía S.A. (Codensa S.A.) On October 23, 1997, Enel Américas S.A. and its former subsidiary Enel Distribución Chile S.A., together with Endesa, S.A., acquired a 48.5% equity interest in Codensa, a company that distributes electricity in Santa Fé de Bogotá in Colombia. The acquisition took place through an international public bidding process held by the Colombian government. 4.- Enel Generación El Chocón S.A. On August 31, 1993, Enel Generación Chile S.A. (formerly known as Endesa Chile) acquired a 59% equity interest of Enel Generación El Chocón S.A. in an international public bidding process held by the Argentine government. 5.- Enel Distribución Perú S.A.A. On October 15, 2009, in a transaction on the Lima Stock Exchange, the Company acquired an additional 24% interest in Enel Distribución Perú S.A. 6.- EGP Cachoeira Dourada S.A. On September 5, 1997, the Company’s former subsidiary Enel Generación Chile S.A. acquired 79% of EGP Cachoeira Dourada S.A. in the state of Goiás in a public bidding process held by the Brazilian government. 7.- Enel Generación Perú S.A.A (formerly Edegel S.A.A. ) On October 9, 2009, in a transaction on the Lima Stock Exchange in Peru, the Company’s former subsidiary Enel Generación Chile S.A. acquired an additional 29.3974% equity interest in Enel Generación Perú S.A. 8.- Emgesa S.A. E.S.P. On October 23, 1997, the Company’s former subsidiary Enel Generación Chile S.A., together with Endesa, S.A., acquired a 48.5% equity interest in Emgesa S.A. E.S.P. in Colombia. The acquisition was made in an international public bidding process held by the Colombian government. 9.- Enel Distribución Sao Paulo S.A. On June 7, 2018, the Company’s subsidiary Enel Brasil acquired majority stock ownership in Enel Distribución Sao Paulo S.A. (see Note 6.1). 269 Annual Report Enel Américas 2020 NOTE 17. Property, plant and equipment The following table sets forth the property, plant and equipment as of December 31, 2020 and 2019: IN THOUSANDS OF U.S. DOLLARS – THUS$ Classes of Property, Plant and Equipment, Gross Property, Plant and Equipment, Gross Construction in progress Land Buildings Plant and equipment Network Infrastructure Fixtures and fittings IN THOUSANDS OF U.S. DOLLARS – THUS$ Classes of Accumulated Depreciation and Impairment in Property, Plant and Equipment Accumulated Depreciation and Impairment in Property, Plant and Equipment Buildings Plant and equipment Network Infrastructure Fixtures and fittings IN THOUSANDS OF U.S. DOLLARS – THUS$ Classes of Property, Plant and Equipment, Net Property, Plant and Equipment, Net Construction in progress Land Buildings Plant and equipment Network Infrastructure Fixtures and fittings 12-31-2020 15,691,168 12-31-2019 15,957,450 1,107,981 158,894 479,161 6,894,543 6,647,840 402,749 1,189,709 163,522 493,914 6,942,941 6,743,394 423,970 12-31-2020 (7,336,496) (225,850) (3,509,839) (3,379,182) (221,625) 12-31-2019 (7,194,012) (236,767) (3,357,348) (3,374,311) (225,586) 12-31-2020 12-31-2019 8,354,672 1,107,981 158,894 253,311 3,384,704 3,268,658 181,124 8,763,438 1,189,709 163,522 257,147 3,585,593 3,369,083 198,384 The composition and movements of the property, plant and equipment accounts for the year ended December 31, 2020 and 2019, are detailed as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Changes in 2020 Construc- tion in Progress Land Buildings, Net Plant and Equipment, Net Network Infrastruc- ture, Net Fixtures and Fittings, Net Property, Plant and Equipment, Net Opening balance as of January 1, 2020 1,189,709 163,522 257,147 3,585,593 3,369,083 198,384 8,763,438 Increases other than from business combinations Increases (decreases) from foreign currency translation differences Depreciation s e g n a h C Increases (decreases) from transfers and other changes Increases (decreases) from transfers from construction in progress Disposals and removal from service Disposals Removals Argentine hyperinflationary economy Other increases (decreases) Total changes 583,727 - 744 246 - 21,846 606,563 (214,324) (11,335) - - (25,179) (11,198) (282,132) (207,624) (412,848) (203,165) (38,472) (23,264) (984,290) (445,251) (483,505) 2,076 23,769 159,526 276,955 21,179 (483,505) 2,076 23,769 (79) (78) (1) 3,815 895 - - - 7,330 698 159,526 (2,961) (2,014) (947) 98,418 33,638 276,955 (5,035) (9) (5,026) 247,568 (3,900) 21,179 (3,916) (142) (3,774) (1,881) 7,248 - - - 115,905 (83,531) (81,728) (4,628) (3,836) (200,889) (100,425) (17,260) (408,766) - - (11,991) (2,243) (9,748) 471,155 (44,952) Closing balance as of December 31, 2020 1,107,981 158,894 253,311 3,384,704 3,268,658 181,124 8,354,672 270270 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationIN THOUSANDS OF U.S. DOLLARS – THUS$ Changes in 2019 Construc- tion in Progress Land Buildings, Net Plant and Equipment, Net Network Infrastruc- ture, Net Fixtures and Fittings, Net Property, Plant and Equipment, Net Opening balance as of January 1, 2019 1,059,070 163,660 137,455 3,722,183 3,226,015 195,089 8,503,472 Increases other than from business combinations Increases (decreases) from foreign currency translation differences Depreciation Impairment (losses) reversals recognized in profit or loss s e g n a h C Increases (decreases) from transfers and other changes Increases (decreases) from transfers Increases (decreases) from transfers from construction in progress Disposals and removal from service Disposals Removals Argentine hyperinflationary economy Other increases (decreases) Total changes 775,595 414 907 3,558 - 15,418 795,892 (156,075) (5,955) (10,400) (145,309) (387,169) (14,011) (227,473) (193,738) (2,993) (23,006) (707,901) (458,228) - - - - (1,307) - - - (1,307) (677,665) (677,665) 1,865 1,865 18,298 18,298 205,682 205,682 430,453 430,453 21,367 21,367 (677,665) - - - 163,990 24,794 130,639 1,865 (855) (794) (61) 4,731 (338) (138) 18,298 (5,180) (412) (4,768) 9,150 205,682 430,453 - - - 75,860 (7,416) - (7,416) 340,626 (39,688) 21,367 (3,428) - (3,428) 19,819 (23,882) 122,235 (48,908) 119,692 (136,590) 143,068 3,295 259,966 - - - (16,879) (1,206) (15,673) 614,176 34,213 Closing balance as of December 31, 2019 1,189,709 163,522 257,147 3,585,593 3,369,083 198,384 8,763,438 Additional information on property, plant and equipment, net a) Main investments The main additions to property, plant and equipment correspond to investments in operating plants, distribution networks and new projects for ThUS$606,563 and ThUS$795,892 the years ended December 31, 2020 and 2019, respectively. In the generation business, investments in combined cycle power plants and hydroelectric power plants in the subsidiaries Enel Generación Perú S.A., Emgesa and Enel Generación Costanera that involved additions as of December 31, 2020, amounted to ThUS$163,418 (as of December 31, 2019, investments in combined cycle power plants and hydroelectric power plants in the subsidiaries Enel Generación Perú S.A., Emgesa and Enel Generación Costanera were in the amount of ThUS$221,257), whereas in the distribution businesses the largest investments have been in extensions and networks to optimize their operation, in order to improve the efficiency and quality of the level of service, which were in the amount of ThUS$442,833 as of December 31, 2020 (ThUS$551,787 as of December 31, 2019). The depreciation of property, plant and equipment are presented net of PIS and COFINS taxes in the Brazilian subsidiaries. b) Capitalized cost b.1) Capitalized financial expenses The capitalized cost for financial expenses for the years ended December 31, 2020, 2019 and 2018 amounted to ThUS$6,376, ThUS$8,092 and ThsUS$4,922, respectively (see Note 33). The average funding rate mainly depends on the geographic area and amounted to 6.04%, 7.49% and 7.25% as of December 31, 2020, 2019 and 2018, respectively. b.2) Capitalized personnel expenses The capitalized cost for personnel expenses directly related to construction in progress for the years ended December 31, 2020, 2019 and 2018 amounted to ThUS$ 70,681, ThUS$ 92,411 and ThUS$ 95,335, respectively. 271 Annual Report Enel Américas 2020c) Other information i) As of December 31, 2020, the Group had contractual commitments for the acquisition of property, plant and equipment amounting to ThUS$1,078,846 (ThUS$986,935 as of December 31, 2019) (including commitments to acquire intangible from our Brazilian distribution subsidiaries). ii) As of December 31, 2020, the Group had property, plant and equipment pledged as security for liabilities for ThUS$ 104,577 (ThUS$114,699 as of December 31, 2019 (see Note 35.1). iii) The Company and its foreign subsidiaries have insurance policies for all risks, earthquake and machinery breakdown and damages for business interruption with a €1,000 million (ThUS$1,226,950) limit, including business interruption coverage. Additionally, the Company has Civil Liability insurance to meet claims from third parties with a €400 million (ThUS$490,780) limit. The premiums associated with these policies are presented proportionally for each company under the line item “other non-financial assets”. iv) For Enel Generación Costanera, due to the application of IAS 29 - Financial Information in Hyperinflationary Economies, (see Note 2.9), the book value of property, plant and equipment as of January 1, 2018 exceeded its recoverable value, which resulted in a deterioration of ThUS$162,274 (equivalent to ThARS 3,102,739 at the exchange rate on that date). At the end of fiscal year 2018, the Enel Generación Costanera recorded a partial reversal of the aforementioned impairment of ThUS$70,513 (equivalent to ThARS 2,656,082 using the exchange rate as of December 31, 2018), which was recognized in the results for the year, mainly as a result of the positive impact that the depreciation of the Argentinean peso had on the company’s income, whose revenues are denominated in dollars. NOTE 18. Right-of-use assets a) Right-of-use assets Right-of-use assets for the year ended December 31, 2020 and 2019, are detailed as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Changes in 2020 Opening balance as of January 1, 2020 New contracts of right-of-use assets Increases (decreases) from foreign currency translation differences Removals Depreciation Other increases (decreases) Total changes Land 3,023 14,080 555 - (1,357) 132 13,410 Buildings, Net Other Plant and equipment, Net Right-of-use asset, Net 66,858 551 (10,472) (75) (11,366) 82 (21,280) 185,918 4,546 (21,080) (159) (23,768) 14,952 (25,509) 255,799 19,177 (30,997) (234) (36,491) 15,166 (33,379) Closing balance as of December 31, 2020 16,433 45,578 160,409 222,420 272272 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information IN THOUSANDS OF U.S. DOLLARS – THUS$ Changes in 2019 Opening balance as of January 1, 2019 before application of IFRS 16 Effects first application IFRS 16 Opening balance as of January 1, 2019 Increases (decreases) from foreign currency translation differences Depreciation Other increases (decreases) Total changes Land Buildings, Net Other Plant and equipment, Net Right-of-use asset, Net - 3,448 3,448 (90) (618) 283 (425) 1,424 50,840 52,264 (1,328) (13,049) 28,971 14,594 181,931 17,538 199,469 1,557 (27,111) 12,003 (13,551) 183,355 71,826 255,181 139 (40,778) 41,257 618 Closing balance as of December 31, 2019 3,023 66,858 185,918 255,799 As of December 31, 2020 and 2019, the main right-of-use assets and lease liabilities are detailed as follows: - Lease contract with Banco de Crédito del Perú, for a 9-year term at a 5.8% fixed rate in US dollars, with quarterly amortization that began on March 31, 2014. This lease was signed to finance the “Cold Generation Reserve” Unit. - On July 21, 2016, a lease contract was signed with Banco de Crédito del Perú. That lease is for a 5-year term at a fixed rate of 3.68% in US dollars, with quarterly amortization that began the second half of 2018. This lease was signed to finance a compressor and a natural gas station for the “Cold Generation Reserve” Unit of the Malacas thermal power plant (TG5). - Lease contract signed on December 16, 2015, with Scotiabank, which is for a six and a half-year term, at a fixed rate of 3.75% in US dollars, with quarterly amortization that began in September 2017. This lease was signed to finance the new TG-6 turbine for the Malacas thermal power plant (TG6). - In addition, as a consequence of the application of IFRS 16 (see Note 3.f), the Group recognized as of January 1, 2019 rights of use assets related to property, plant and equipment in the amount of ThUS$71,826. The present value of future payments derived from those contracts is detailed as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Less than one year From one to two years From two to three years From three to four years From four to five years More than five years Gross 56,509 32,680 16,395 12,393 11,798 36,747 12-31-2020 Interest Present Value 5,017 4,718 3,454 2,818 2,073 5,882 51,492 27,962 12,941 9,575 9,725 30,865 Gross 88,847 49,187 31,187 17,065 10,055 20,318 12-31-2019 Interest Present Value 7,203 6,478 4,946 3,392 2,128 2,243 81,644 42,709 26,241 13,673 7,927 18,075 Total 166,522 23,962 142,560 216,659 26,390 190,269 b) Short-term and low value leases The consolidated statement of income for the years ended December 31, 2020 and 2019 includes expenses in the amount of ThUS$10,641 and ThUS$10,341, respectively, that correspond to short-term rental payments for a total amount of ThUS$3,046 in 2020 and ThUS$4,040 in 2019, lease of low value underlaying assets in the amount of ThUS$1,281 in 2020 and ThUS$226 in 2019 and amounts related tovariable leases in the amount of ThUS$6,314 in 2020 and ThUS$6,075 in 2019, which are exempt from the application of IFRS 16 (See Note 3.f). 273 Annual Report Enel Américas 2020As of December 31, 2020, and 2019 future payments derived from those contracts are detailed as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Less than one year From one to two years From two to three years From three to four years From four to five years More than five years Total 12-31-2020 MUS$ 196 1,281 - - - - 12-31-2019 MUS$ 866 - - - - - 1,477 866 NOTE 19. Income tax and deferred taxes a) Income taxes The components of income tax for the years ended December 31, 2020, 2019 and 2018 are detailed as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Current Income Tax and Adjustments to Current Income Tax for Previous Periods Income tax benefit (expense) Tax benefit from tax losses, tax credits or temporary differences not previously recognized for the current period (current tax credits and/or benefits) Adjustments to current tax from the previous period Current tax (expenses) / benefit (related to cash flow hedges) Other (expenses) / benefit from Current Tax 2020 (559,077) 8,956 4,250 18 - 2019 (676,112) 7,426 23,419 845 - 2018 (697,569) 20,104 7,692 (894) (20) Current tax expense, net (545,853) (644,422) (670,687) Benefit / (expense) from deferred taxes for origination and reversal of temporary differences Benefit / (expense) from deferred taxes due to changes in tax rates or the introduction of new taxes Total deferred tax benefit / (expense) (20,707) 415,513 228,093 - (20,707) (7,437) 408,076 4,662 232,755 Income tax expense (566,560) (236,346) (437,932) The following table reconciles income taxes resulting from applying the local current tax rate to “Net income before taxes” and the actual income tax expense recognized in the consolidated statement of comprehensive income for the years ended December 31, 2020, 2019 and 2018: IN THOUSANDS OF U.S. DOLLARS – THUS$ Reconciliation of Tax Expense ACCOUNTING INCOME BEFORE TAX Tax Rate 2020 Tax Rate 2019 Tax Rate 2018 1.747.812 2.406.109 2.104.990 Total tax income (expense) using statutory rate (27.00%) (471,909) (27.00%) (649,649) (27.00%) (568,347) Tax effect of rates applied in other countries (4.67%) (81,699) (5.23%) (125,912) (6.64%) (139,772) Tax effect of tax-exempt revenue and other positive effects impacting the effective rate Tax effect of non-deductible expenses for determining taxable profit (loss) Tax effect of changes in income tax rates Tax effect of adjustments to income taxes in previous periods Total adjustments to tax expense using statutory rate 5.41% 94,578 26.32% 633,125 19.15% 402,989 (6.40%) (111,780) - (4.57%) (0.31%) (109,892) (7,437) 0.24% (5.42%) 4,250 (94,651) 0.97% 17.18% 23,419 413,303 (6.90%) 0.22% 0.37% 6.20% (145,156) 4,662 7,692 130,415 Income tax benefit (expense) (32.42%) (566,560) (9.82%) (236,346) (20.80%) (437,932) 274274 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationThe main temporary differences are described below: b) Deferred taxes The table below shows the balances of the deferred tax assets and liabilities presented in the consolidated statement of financial position at December 31, 2020 and 2019: IN THOUSANDS OF U.S. DOLLARS – THUS$ Assets/(Liabilities) for Deferred Taxes Depreciations Amortizations Obligations for post-employment benefits Revaluations of financial instruments Tax loss Provisions Provision for Civil Contingencies Provision Contingencies Workers Provision for doubtful trade accounts Provision of Human Resources accounts Financial assets IFRIC 12 Other Provisions Other Deferred Taxes Amortization PPA - (Enel Distribución Goiás) Monetary Correction - Argentina Other Deferred Taxes Deferred taxes Assets/(Liabilities) before compensation Compensation deferred taxes Assets/Liabilities 12-31-2020 12-31-2019 Assets 17,717 4,161 498,424 2,274 209,339 630,331 247,400 28,467 121,764 18,724 - 213,976 197,727 - - 197,727 1,559,973 (565,591) Liabilities (448,711) (16,505) - (31,883) - (205,151) - - - - (194,045) (11,106) (476,294) (75,497) (289,158) (111,639) (1,178,544) 565,591 Assets 25,659 6,158 552,760 1,211 281,080 636,653 241,520 36,878 122,104 16,339 - 219,812 194,989 - - 194,989 1,698,510 (610,276) Liabilities (508,172) (22,213) (154) (11,626) - (237,040) - - - - (207,425) (29,615) (474,925) (105,236) (285,210) (84,479) (1,254,130) 610,276 Deferred taxes Assets/(Liabilities) after compensation 994,382 (612,953) 1,088,234 (643,854) The origin and changes in deferred tax assets and liabilities as of December 31, 2020 and 2019 are as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Deferred Taxes Assets/(Liabilities) Depreciations Amortizations Obligations for post-employment benefits Revaluations of financial instruments Tax loss Provisions Provision for Civil Contingencies Provision Contingencies Workers Provision for doubtful trade accounts Provision of Human Resources accounts Financial assets IFRIC 12 Other Provisions Other Deferred Taxes Amortization PPA - (Enel Distribución Goiás) Monetary Correction – Argentina Other Deferred Taxes Net balance as of January 1, 2020 Recognized in profit or loss Movements Recognized in com prehensive income Foreign currency translation difference (482,513) (16,055) 552,606 (10,415) 281,080 399,613 241,520 36,878 122,104 16,339 (207,425) 190,197 (279,936) (105,236) (285,210) 110,510 (8,120) 91 (93,757) (26,693) (10,184) 83,431 (1,643) 3,618 53,041 3,395 (34,068) 59,088 34,525 3,054 (4,001) 35,472 - - 161,330 5,056 - - - - - - - - - - - - 94,913 3,620 (122,045) 2,446 (63,849) (88,945) (26,933) (7,150) (44,237) (1,010) 46,864 (56,479) 12,380 22,828 290 (10,738) Other increases (decreases) Net balance as of December 31, 2020 (35,274) (430,994) - 290 (3) 2,292 31,081 34,456 (4,879) (9,144) - 584 10,064 (45,536) 3,857 (237) (49,156) (12,344) 498,424 (29,609) 209,339 425,180 247,400 28,467 121,764 18,724 (194,045) 202,870 (278,567) (75,497) (289,158) 86,088 Deferred Taxes Assets/(Liabilities) 444,380 (20,707) 166,386 (161,480) (47,150) 381,429 275 Annual Report Enel Américas 2020IN THOUSANDS OF U.S. DOLLARS – THUS$ Deferred Taxes Assets/(Liabilities) Depreciations Amortizations Obligations for post-employment benefits Revaluations of financial instruments Tax loss Provisions Provision for Civil Contingencies Provision Contingencies Workers Provision for doubtful trade accounts Provision of Human Resources accounts Financial assets IFRIC 12 Other Provisions Other Deferred Taxes Amortization PPA - (Enel Distribución Goiás y Sao Paulo) Monetary Correction – Argentina Other Deferred Taxes Movements Net balance as of January 1, 2019 Recognized in profit or loss Recognized in comprehen- sive income Foreign currency translation difference (349,781) (17,194) 373,951 (5,074) 258,589 593,249 256,544 32,360 235,875 14,730 (196,683) 250,423 (38,520) 119 (1,962) 1,339 1,481 (112,506) (46,541) 146 7,096 680 (36,402) (37,485) (966,773) 558,125 (682,399) (265,047) (19,327) 563,517 370 (5,762) - - 195,098 (1,320) - - - - - - - - - - - - 82,756 (308) (17,182) (162) (10,630) (30,273) (11,377) 116 (9,042) (223) 12,177 (21,924) 37,743 13,646 629 23,468 Other increases (decreases) (176,968) 1,328 2,701 (5,198) 31,640 (50,857) 42,894 4,256 (111,825) 1,152 13,483 (817) Net balance as of December 31, 2019 (482,513) (16,055) 552,606 (10,415) 281,080 399,613 241,520 36,878 122,104 16,339 (207,425) 190,197 90,969 (279,936) - (21,162) 112,131 (105,236) (285,210) 110,510 Deferred Taxes Assets/(Liabilities) (113,033) 408,076 193,778 61,944 (106,385) 444,380 Recovery of deferred tax assets will depend on whether sufficient taxable profits are obtained in the future. The Company’s management believes that the future profit projections for its subsidiaries will allow these assets to be recovered. c) As of December 31, 2020, the Group has not recognized deferred tax assets related to tax losses carried forward for ThUS$44,296 (ThUS$37,442 as of December 31, 2019) (see Note 3.p). The Group has not recognized deferred tax liabilities for taxable temporary differences relating to investment in subsidiaries and joint ventures, as it is able to control the timing of the reversal of the temporary differences and considers that it is probable that such temporary differences will not reverse in the foreseeable future. As of December 31, 2020, the aggregate amount of taxable temporary differences relating to investments in subsidiaries and joint ventures for which deferred tax liabilities have not been recognized were ThUS$2,839,057 (ThUS$3,427,371 as of December 31, 2019). On the other hand, the total amount of deductible temporary differences relating to investments in subsidiaries and joint ventures for which as of December 31, 2020, it is probable that will not reverse in the foreseeable future or there will be not sufficient taxable profits in the future to recover such temporary differences was ThUS$4,213,400 (ThUS$2,362,974 as of December 31, 2019). The Group companies are potentially subject to income tax audits by the tax authorities of each country in which the Group operates. Such tax audits are limited to a number of annual tax periods and once these have expired, audits of these periods can no longer be performed. Tax audits by nature are often complex and can require several years to complete. The following table presents a summary of tax years potentially subject to examination: Period 2017-2019 2014-2019 2015-2019 2016-2019 2015-2019 Country Chile Argentina Brazil Colombia Peru 276276 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationGiven the range of possible interpretations of tax standards, the results of any future inspections carried out by tax authorities for the years subject to audit can give rise to tax liabilities that cannot currently be quantified objectively. Nevertheless, the Company’s management estimates that the liabilities, if any, that may arise from such audits, would not significantly impact the Group companies’ future results. The effects of deferred taxes on the components of other comprehensive income attributable to both controlling and non- controlling interests for the years ended December 31, 2020, 2019 and 2018, are as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Effects of Income Tax on the Components of Other Comprehensive Income Amount before Tax 2020 Income Tax Expense (Benefit) Amount After Tax Amount before Tax 2019 Income Tax Expense (Benefit) Amount After Tax Amount before Tax 2018 Income Tax Expense (Benefit) Amount After Tax Financial assets at fair value through other comprehensive income Cash flow hedges Foreign currency translation Actuarial gains (losses) from defined benefit pension plans Income tax related to components of other income and expenses with a charge or credit in equity (10) (12,976) (2,249,915) - 5,038 (10) (7,938) (598) 5,906 - (2,165) (598) 3,741 (458) (2,727) - 1,354 (458) (1,373) - (2,249,915) (765,005) - (765,005) (1,575,134) - (1,575,134) (476,805) 161,766 (315,039) (576,143) 195,098 (381,045) (177,527) 59,684 (117,843) (2,739,706) 166,804 (2,572,902) (1,335,840) 192,933 (1,142,907) (1,755,846) 61,038 (1,694,808) The effects of deferred taxes on the components of other comprehensive income attributable to both controlling and non- controlling interests for the years ended December 31, 2020, 2019 and 2018, are as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Reconciliation of deferred tax movements between Balance Sheet and income taxes in Comprehensive income Total increases (decreases) for deferred taxes of other comprehensive income Income tax of changes in cash flow hedge transactions Deferred taxes of changes from defined benefit pension plans 2020 166.386 (18) 436 2019 193.778 (845) - 2018 60.144 894 - Total income tax relating to components of other comprehensive income 166.804 192.933 61.038 d) In Colombia, Law No. 1943 of 2018 modified the income tax rate from the taxable year of 2019 defining the following rates: 33% for 2019, 32% for 2020, 31% for 2021 and 30% for 2022 and following years. This affects the taxable income obtained during each year. The effect of temporary differences involving the payment of a lower or higher income tax in the current year is accounted as deferred tax credit or debit, respectively, at the tax rates when differences are reversed (31% for 2021 and 30% as from 2022), provided that there are reasonable expectations that such differences will be reversed in the future and also for the assets, which at that time should be generating sufficient taxable income. As a result of this increase in rates, the Colombian subsidiaries recognized as of December 31, 2018 variations in their deferred tax assets and liabilities. The net credit to results amounted to ThUS$ 4,662. e) On December 23, 2019 in Argentina, Act No. 27.541 on “Solidaridad Social y Reactivación Productiva en el marco de Emergencia Pública” (“Social Solidarity and Reactivation of Productions in the Public Emergency Framework”) was issued in the Official Gazette, along with Decree No. 58/2019 which enacted it. Also, on December 28, 2019, Decree No. 99/2019 was issued stating the regulations for the implementation of the Act. The main actions for the Company stated within the Act, as well as its regulations are as follows: Act No. 27.430 provided that the corporate income tax rate would be reduced from 30% to 25% and that the additional tax on dividends or profits distributed to individuals from Argentina and abroad and legal entities from abroad would increase from 7% to 13% for fiscal periods beginning January 1, 2020. The amendment ended that rate change and preserved the original 30% and 7% rates, respectively, for annual fiscal years beginning on January 1, 2022, inclusive. Act No. 27.468 provided that for the first three annual fiscal (tax) years beginning on January 1, 2019 the positive or negative inflationary adjustment should be distributed as follows: one-third in the annual fiscal year in which the adjustment was 277 Annual Report Enel Américas 2020 determined and two equal thirds in the next two immediate annual fiscal years. The amendment modified that distribution and established that the positive or negative adjustment corresponding to the first and second fiscal year beginning as of January 1, 2019, must be distributed as follows: one-sixth on the annual fiscal year in which the adjustment is determined and the remaining five-sixths in the next five immediate fiscal periods. On the other hand, 100% of the adjustment may be deducted in the year in which it is determined for annual fiscal years beginning on January 1, 2021. On December 31, 2019, Argentine subsidiaries recorded the variations of their deferred tax assets and liabilities as a result of this increase in rates. The net charge sto profit and loss amounted to ThUS$7,437. f) On November 6, 2019 and after its approval at an Extraordinary Shareholder’s Meeting, Enel Distribución Sao Paulo merged the assets and liabilities of its parent, Enel Brasil Investimentos Sudeste S.A. (“Enel Sudeste”). The merged assets include amounts related to the concessionaire’s intangibles, as well as the recognition of the deferred tax liability on the concessionaire’s intangibles mentioned above (see Note 6.2). Once the merger was carried out, the deferred tax obligations were reversed, since the differences between the tax and accounting base at the time of the acquisition of Enel Distribución Sao Paulo were equal and will be written off in the concessionaire’s future payments. As mentioned above, the company recognized a deferred tax benefit in earnings amounting to ThUS$ 553,225 for the 2019 fiscal year. NOTE 20. Other financial liabilities The balance of other financial liabilities as of December 31, 2020 and 2019, is as follows: In thousands of U.S. dollars – ThUS$ Current Non-Current Current Non-Current Other Financial Liabilities Interest-bearing borrowings Hedging derivatives (*) Non-hedging derivatives (**) Total (*) See Note 23.2.a (**) See Note 23.2.b 12-31-2020 12-31-2019 1,815,160 3,837,697 1,397,187 4,780,797 6,730 3,240 9 - 9,500 1,720 1,036 - 1,825,130 3,837,706 1,408,407 4,781,833 a) Interest-bearing borrowings. The detail of current and non-current interest-bearing borrowings as of December 31, 2020 and 2019, is as follows: In thousands of U.S. dollars – ThUS$ Current Non-Current Current Non-Current Classes of Interest-Bearing Borrowings 12-31-2020 12-31-2019 Secured bank loans Unsecured bank loans Unsecured bonds Secured bonds Other obligations Total 235,404 927,075 409,087 154,955 88,639 247,150 149,057 2,864,794 395,289 181,407 258,976 447,954 264,634 395,987 29,636 585,107 37,173 3,357,885 696,529 104,103 1,815,160 3,837,697 1,397,187 4,780,797 Bank loans by currency and contractual maturity as of December 31, 2020 and 2019, are as follows: 278278 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information - Summary of bank loans by currency and maturity IN THOUSANDS OF U.S. DOLLARS – THUS$ Current Maturity Non-Current Maturity Currency Country US$ Chile CLP Chile US$ Peru PEN Peru US$ Brazil BRL Brazil US$ Brazil Brazil BRL Colombia COP Colombia COP Effective Interest Rate 2,65% 6,00% 2,62% 2,75% 3,98% 5,52% 2,21% 2,20% 0,01% 3,68% Nominal Interest Rate Secured / Unsecured 0,94% Unsecured 6,00% Unsecured 2,59% Unsecured 2,71% Unsecured 3,63% Secured 5,41% Secured 2,20% Unsecured 2,19% Unsecured 0,01% Secured 3,62% Unsecured One to three months 175,040 1 - 157 134,692 7,747 127,016 37,377 281 153 Three to twelve months 150,196 - 25,043 168,609 75,656 15,847 86,730 30,014 1,181 126,739 Total Current 12-31-2020 325,236 1 25,043 168,766 210,348 23,594 213,746 67,391 1,462 126,892 One to two years Two to three years Three to four years Four to five years More than five years - - - 46,989 164,746 21,268 - - 1,575 11,346 - - - 38,697 - 15,779 - - 1,248 20,478 - - - - 2,778 9,881 - - - 20,478 - - - - - 8,953 - - - 10,737 - - - - - 20,922 - - - 332 Total Non- Current 12-31-2020 - - - 85,686 167,524 76,803 - - 2,823 63,371 Total 482,464 680,015 1,162,479 245,924 76,202 33,137 19,690 21,254 396,207 IN THOUSANDS OF U.S. DOLLARS – THUS$ Current Maturity Non-Current Maturity Effective Interest Rate 4,99% 6,00% 4,16% 4,44% 6,70% 4,66% 6,53% 5,73% Nominal Secured / Interest Rate Unsecured 2,67% Unsecured 6,00% Unsecured 4,10% Unsecured 4,16% Secured 6,60% Secured 4,65% Unsecured 6,52% Unsecured 5,61% Unsecured One to three months - 1 - 7,281 7,458 495 876 1,396 Three to twelve months 351,820 - - 151,859 92,378 60,534 - 32,832 Total Current 12-31-2019 351,820 1 - 159,140 99,836 61,029 876 34,228 One to two years - - 22,614 318,251 27,916 - - 7,524 Two to three years Three to four years Four to five years More than five years - - - 148,012 26,338 - - 3,575 - - - - 15,975 - - 1,038 - - - 2,786 10,576 - - 1,038 - - - - 35,253 - - 1,384 Total Non- Current 12-31-2019 - - 22,614 469,049 116,058 - - 14,559 17,507 689,423 706,930 376,305 177,925 17,013 14,400 36,637 622,280 Currency Country US$ Chile CLP Chile PEN Peru US$ Brazil BRL Brazil US$ Brazil BRL Brazil Colombia COP Total - Fair value measurement and hierarchy The fair value of current and non-current bank borrowings as of December 31, 2020 was ThUS$1,552,781 (ThUS$1,309,690 as of December 31, 2019). The borrowings have been classified as Level 2 fair value measurement based on the entry data used in the valuation techniques (see Note 3.h). 279 Annual Report Enel Américas 2020 - Identification of bank borrowings by company IN THOUSANDS OF U.S. DOLLARS – THUS$ Country Brazil Brazil Brazil Brazil Brazil Colombia Colombia Colombia Colombia Colombia Colombia Colombia Taxpayer ID No. Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. Foreign Foreign Foreign Foreign Foreign Foreign Company Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Codensa Codensa Codensa Codensa Codensa Codensa Codensa Enel Distribución Ceará S.A. Brazil Enel Distribución Ceará S.A. Brazil Enel Distribución Ceará S.A. Brazil Enel Distribución Ceará S.A. Brazil Enel Distribución Ceará S.A. Brazil Enel Distribución Ceará S.A. Brazil Enel Distribución Ceará S.A. Brazil Enel Distribución Ceará S.A. Brazil Enel Distribución Ceará S.A. Brazil Enel Distribución Ceará S.A. Brazil Peru Enel Distribución Perú S.A. Peru Enel Distribución Perú S.A. Peru Enel Distribución Perú S.A. Brazil Enel Distribución Goias S.A. Brazil Enel Distribución Goias S.A. Brazil Enel Distribución Goias S.A. Chile Chile Chile Chile Chile Chile Chile Chile Chile Chile Chile Chile Chile Chile Chile Chile Chile Chile Brazil Brazil Brazil Brazil Peru Peru Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Generación Piura S.A. Enel Perú S.A.C. Taxpayer ID No. Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign 97036000-k Foreign Foreign Foreign Foreign Foreign Foreign Financial Institution BNP PARIBAS BNDES BNP PARIBAS ITAÚ CITIBANK FINDETER FINDETER FINDETER BANCO BBVA COLOMBIA S.A. BANCO DE BOGOTÁ BANCO BBVA COLOMBIA S.A. MUFG BANK LTD BNDES BANCO DO BRASIL (BOND D) BANCO DO BRASIL (BOND P) BNB Nº 16.2018.204.23875 BNB Nº 16.2018.204.23875 SCOTIABANK TOKIO TOKIO SCOTIABANK FINEP BANCO DE CREDITO DEL PERÚ S.A. BANCO INTERCIONAL DEL PERÚ S.A.A. BANCO DE CREDITO DEL PERÚ S.A. BNDES CG SCOTIABANK BNP BNP PARIBAS NY CITIBANK N.A CREDIT AGRICOLE CIB JPMORGAN CHASE BANK SUMITOMO MITSUI BANKING SOCIETE GENERALE BBVA NEW YORK BRANCH BBVA S.A NEW YORK BRANCH CREDIT AGRICOLE CIB THE BANK OF NOVA SCOTIA BNP PARIBAS NY CITIBANK N.A CREDIT AGRICOLE CIB JPMORGAN CHASE BANK SUMITOMO MITSUI BANKING SOCIETE GENERALE BBVA NEW YORK BRANCH LINEA SOBREGIRO (BANCO SANTANDER) FINEP - 2º PROTOCOLO TOKIO SCOTIABANK BNP SCOTIABANK BBVA Currency Country US$ U.S.A BRL Brazil US$ Brazil US$ Brazil Brazil US$ Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP COP Japan BRL Brazil US$ Brazil US$ Brazil BRL Brazil BRL Brazil BRL Brazil US$ Brazil US$ Brazil BRL Brazil BRL Brazil PEN Peru PEN Peru PEN Peru BRL Brazil US$ U.S.A US$ U.S.A US$ U.S.A US$ U.S.A US$ U.S.A US$ U.S.A US$ U.S.A US$ U.S.A US$ U.S.A US$ U.S.A US$ U.S.A US$ U.S.A US$ U.S.A US$ U.S.A US$ U.S.A US$ U.S.A US$ U.S.A US$ U.S.A US$ U.S.A CLP Chile BRL Brazil US$ Brazil US$ Brazil US$ Brazil US$ Peru PEN Peru Effective Interest Rate 8,73% 3,01% 2,72% 4,35% 1,76% 0,01% 0,01% 0,01% 2,63% 3,00% 3,16% 5,93% 3,01% 2,33% 6,31% 6,27% 6,27% 2,22% 1,69% 1,79% 2,18% 6,48% 4,16% 3,75% 2,61% 9,61% 2,98% 2,64% 4,99% 4,99% 4,99% 4,99% 4,99% 4,99% 4,99% 1,38% 1,38% 1,38% 0,84% 0,84% 0,84% 0,84% 0,84% 0,84% 0,84% 6,00% 3,96% 1,79% 2,15% 3,61% 2,62% 0,48% Nominal Interest Rate 8,40% 3,00% 2,71% 4,34% 1,46% 0,01% 0,01% 0,01% 2,60% 2,97% 3,12% 5,80% 3,00% 1,67% 6,30% 6,26% 6,26% 2,21% 1,68% 1,78% 2,17% 5,80% 4,10% 3,70% 2,58% 9,60% 2,30% 1,84% 0,85% 0,85% 0,85% 0,85% 0,85% 0,85% 0,85% 1,38% 1,38% 1,38% 0,84% 0,84% 0,84% 0,84% 0,84% 0,84% 0,84% 6,00% 3,95% 1,78% 2,14% 3,60% 2,59% 0,48% Type of Amortization Upon expiration Monthly Upon expiration Monthly Monthly Upon expiration Upon expiration Upon expiration Biannual Monthly Biannual Upon expiration Monthly Upon expiration Upon expiration Monthly Monthly Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Monthly Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Monthly Upon expiration Upon expiration Upon expiration Upon expiration Biannual Secured Yes Yes Yes Yes Yes Yes Yes Yes No No No No Yes Yes Yes Yes Yes No No No No Yes No No No Yes Yes Yes No No No No No No No No No No No No No No No No No No Yes No No No No No Current Non-Current Less than 90 days More than 90 days 12-31-2020 Two to three years Three to four years Four to five years More than five years Total Non- Current 20,731 20,769 18 18 18 74 128 Total Current 2,641 1,594 14 77,231 96,923 121,194 4,880 263 656 543 675 142 796 3 21 5,929 5,342 37,251 31,769 10,637 30,141 - 58 62 7,594 390 33,124 45,000 15,000 15,035 15,000 30,000 15,000 15,000 50,196 50,000 50,000 7,500 2,500 2,504 2,500 5,000 2,500 2,500 1 2,339 32,668 51,421 87,251 25,043 147,879 One to two years 77,010 1,590 39,235 - - 316 715 543 2,435 996 7,914 793 4,700 4,235 46,989 7,471 48,504 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 1,192 75,656 237 537 407 4,880 664 121,194 595 3,525 3,176 30,014 5,604 50,196 50,000 50,000 1,755 86,730 25,043 147,879 2,641 402 14 1,575 96,923 26 119 136 - 11 142 - 201 3 21 2,404 2,166 37,251 31,769 10,637 127 - 38 58 62 1,990 390 33,124 45,000 15,000 15,035 15,000 30,000 15,000 15,000 - - - 7,500 2,500 2,504 2,500 5,000 2,500 2,500 1 584 32,668 51,421 521 - - 662 290 596 362 996 19,482 397 4,700 4,235 38,698 3,113 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 996 19,482 1,143 1,636 4,700 4,235 996 9,741 332 4,700 4,235 10,967 9,881 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 77,010 2,252 39,235 606 1,311 905 2,435 4,316 56,619 1,190 1,143 1,636 29,767 26,821 46,989 38,698 10,584 48,504 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 2,478 2,653 927 6,058 Totals 482,464 680,015 1,162,479 245,924 76,202 33,137 19,690 21,254 396,207 280280 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationTaxpayer ID Taxpayer ID Company Country No. Financial Institution Country Currency Rate Amortization Secured Effective Nominal Interest Interest Type of - Identification of bank borrowings by company IN THOUSANDS OF U.S. DOLLARS – THUS$ No. Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Brazil Brazil Brazil Brazil Brazil Foreign Foreign Foreign Foreign Foreign Colombia Foreign Colombia Foreign Colombia Foreign BNP PARIBAS BNDES BNP PARIBAS ITAÚ CITIBANK FINDETER FINDETER FINDETER Colombia Foreign BANCO BBVA COLOMBIA S.A. Colombia Foreign BANCO DE BOGOTÁ Colombia Foreign BANCO BBVA COLOMBIA S.A. Colombia Foreign MUFG BANK LTD BNDES BANCO DO BRASIL (BOND D) BANCO DO BRASIL (BOND P) BNB Nº 16.2018.204.23875 BNB Nº 16.2018.204.23875 Codensa Codensa Codensa Codensa Codensa Codensa Codensa Enel Distribución Ceará S.A. Brazil Enel Distribución Ceará S.A. Brazil Enel Distribución Ceará S.A. Brazil Enel Distribución Ceará S.A. Brazil Enel Distribución Ceará S.A. Brazil Enel Distribución Ceará S.A. Brazil Enel Distribución Ceará S.A. Brazil Enel Distribución Ceará S.A. Brazil Enel Distribución Ceará S.A. Brazil Enel Distribución Ceará S.A. Brazil Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Peru Peru Peru Brazil Brazil Brazil Chile Chile Chile Chile Chile Chile Chile Chile Chile Chile Chile Chile Chile Chile Chile Chile Chile Chile Brazil Brazil Brazil Brazil Peru Peru BANCO DE CREDITO DEL PERÚ S.A. BANCO INTERCIONAL DEL PERÚ S.A.A. BANCO DE CREDITO DEL PERÚ S.A. SCOTIABANK TOKIO TOKIO SCOTIABANK FINEP BNDES CG SCOTIABANK BNP BNP PARIBAS NY CITIBANK N.A CREDIT AGRICOLE CIB JPMORGAN CHASE BANK SUMITOMO MITSUI BANKING SOCIETE GENERALE BBVA NEW YORK BRANCH BBVA S.A NEW YORK BRANCH CREDIT AGRICOLE CIB THE BANK OF NOVA SCOTIA BNP PARIBAS NY CITIBANK N.A CREDIT AGRICOLE CIB JPMORGAN CHASE BANK SUMITOMO MITSUI BANKING SOCIETE GENERALE BBVA NEW YORK BRANCH TOKIO SCOTIABANK BNP BBVA SCOTIABANK 97036000-k LINEA SOBREGIRO (BANCO SANTANDER) FINEP - 2º PROTOCOLO 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Generación Piura S.A. Enel Perú S.A.C. Foreign Foreign Foreign Foreign Foreign Foreign Totals Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Japan COP U.S.A Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Peru Peru Peru Brazil U.S.A U.S.A U.S.A U.S.A U.S.A U.S.A U.S.A U.S.A U.S.A U.S.A U.S.A U.S.A U.S.A U.S.A U.S.A U.S.A U.S.A U.S.A U.S.A Chile Brazil Brazil Brazil Brazil Peru Peru US$ BRL US$ US$ US$ BRL US$ US$ BRL BRL BRL US$ US$ BRL BRL PEN PEN PEN BRL US$ US$ US$ US$ US$ US$ US$ US$ US$ US$ US$ US$ US$ US$ US$ US$ US$ US$ US$ CLP BRL US$ US$ US$ US$ PEN 8,73% 3,01% 2,72% 4,35% 1,76% 0,01% 0,01% 0,01% 2,63% 3,00% 3,16% 5,93% 3,01% 2,33% 6,31% 6,27% 6,27% 2,22% 1,69% 1,79% 2,18% 6,48% 4,16% 3,75% 2,61% 9,61% 2,98% 2,64% 4,99% 4,99% 4,99% 4,99% 4,99% 4,99% 4,99% 1,38% 1,38% 1,38% 0,84% 0,84% 0,84% 0,84% 0,84% 0,84% 0,84% 6,00% 3,96% 1,79% 2,15% 3,61% 2,62% 0,48% Rate 8,40% 3,00% 2,71% 4,34% 1,46% 0,01% 0,01% 0,01% 2,60% 2,97% 3,12% 5,80% 3,00% 1,67% 6,30% 6,26% 6,26% 2,21% 1,68% 1,78% 2,17% 5,80% 4,10% 3,70% 2,58% 9,60% 2,30% 1,84% 0,85% 0,85% 0,85% 0,85% 0,85% 0,85% 0,85% 1,38% 1,38% 1,38% 0,84% 0,84% 0,84% 0,84% 0,84% 0,84% 0,84% 6,00% 3,95% 1,78% 2,14% 3,60% 2,59% 0,48% Upon expiration Monthly Upon expiration Monthly Monthly Upon expiration Upon expiration Upon expiration Biannual Monthly Biannual Upon expiration Monthly Upon expiration Upon expiration Monthly Monthly Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Monthly Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Monthly Upon expiration Upon expiration Upon expiration Upon expiration Biannual Yes Yes Yes Yes Yes Yes Yes Yes No No No No Yes Yes Yes Yes Yes No No No No Yes No No No Yes Yes Yes No No No No No No No No No No No No No No No No No No Yes No No No No No Current More than 90 days - 1,192 - 75,656 - 237 537 407 4,880 664 - 121,194 595 - - 3,525 3,176 - - - 30,014 - 20,731 - - 5,604 - - - - - - - - - 50,196 50,000 50,000 - - - - - - - - 1,755 - - 86,730 25,043 147,879 Less than 90 days 2,641 402 14 1,575 96,923 26 119 136 - 11 142 - 201 3 21 2,404 2,166 37,251 31,769 10,637 127 - 38 58 62 1,990 390 33,124 45,000 15,000 15,035 15,000 30,000 15,000 15,000 - - - 7,500 2,500 2,504 2,500 5,000 2,500 2,500 1 584 32,668 51,421 521 - - Non-Current Total Current 2,641 1,594 14 77,231 96,923 263 656 543 4,880 675 142 121,194 796 3 21 5,929 5,342 37,251 31,769 10,637 30,141 - 20,769 58 62 7,594 390 33,124 45,000 15,000 15,035 15,000 30,000 15,000 15,000 50,196 50,000 50,000 7,500 2,500 2,504 2,500 5,000 2,500 2,500 1 2,339 32,668 51,421 87,251 25,043 147,879 One to two years 77,010 1,590 39,235 - - 316 715 543 2,435 996 7,914 - 793 - - 4,700 4,235 - - - - - - 46,989 - 7,471 - 48,504 - - - - - - - - - - - - - - - - - - 2,478 - - - - - 12-31-2020 Two to three years - 662 - - - 290 596 362 - 996 19,482 - 397 - - 4,700 4,235 - - - - 18 - - 38,698 3,113 - - - - - - - - - - - - - - - - - - - - 2,653 - - - - - Three to four years - - - - - - - - - 996 19,482 - - 1,143 1,636 4,700 4,235 - - - - 18 - - - - - - - - - - - - - - - - - - - - - - - - 927 - - - - - Four to five years - - - - - - - - - 996 9,741 - - - - 4,700 4,235 - - - - 18 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - More than five years - - - - - - - - - 332 - - - - - 10,967 9,881 - - - - 74 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Total Non- Current 77,010 2,252 39,235 - - 606 1,311 905 2,435 4,316 56,619 - 1,190 1,143 1,636 29,767 26,821 - - - - 128 - 46,989 38,698 10,584 - 48,504 - - - - - - - - - - - - - - - - - - 6,058 - - - - - 482,464 680,015 1,162,479 245,924 76,202 33,137 19,690 21,254 396,207 281 Annual Report Enel Américas 2020IN THOUSANDS OF U.S. DOLLARS – THUS$ Taxpayer ID No. Company Country Taxpayer ID No. Financial Institution Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. Foreign Foreign Foreign Foreign Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Enel Distribución Ceará S.A. Brazil Enel Distribución Ceará S.A. Brazil Enel Distribución Ceará S.A. Brazil Enel Distribución Ceará S.A. Brazil Enel Distribución Ceará S.A. Brazil Enel Distribución Ceará S.A. Brazil Enel Distribución Ceará S.A. Brazil Enel Distribución Ceará S.A. Brazil Enel Distribución Ceará S.A. Brazil Peru Enel Distribución Perú S.A. Brazil Enel Distribución Goias S.A. Brazil Enel Distribución Goias S.A. Brazil Enel Distribución Goias S.A. Brazil Enel Distribución Goias S.A. Brazil Enel Distribución Goias S.A. Chile Chile Chile Chile Chile Chile Chile Chile Brazil Brazil Brazil Brazil Enel Generación Fortaleza Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign 97036000-k Foreign Foreign Foreign Foreign ITAU BBA INTERNATIONAL PLC CITIBANK TRADE BNP PARIBAS BNDES BNDES-A BNDES-B BNDES-F SCOTIABANK BANCO BBVA COLOMBIA S.A. BANCO DE BOGOTÁ BANCO BBVA COLOMBIA S.A. BANCO BBVA COLOMBIA S.A. BANCO BBVA COLOMBIA S.A. BANCO BBVA COLOMBIA S.A. BANCO BBVA COLOMBIA S.A. BANCO BBVA COLOMBIA S.A. BANCO BBVA COLOMBIA S.A. BANCO BBVA COLOMBIA S.A. BANCO BBVA COLOMBIA S.A. BANCO AGRARIO MUFG BANK LTD BNDES CAPEX 12 A BNDES CAPEX 12 B BNDES CAPEX 12 F BNDES BANCO DO BRASIL (BOND D) BANCO DO BRASIL (BOND P) BNB Nº 16.2018.204.23875 BNB Nº 16.2018.204.23875 BNP BANCO DE CREDITO DEL PERÚ BNDES -FINAME CAPITAL DE GIRO CITIBANK SCOTIABANK SCOTIABANK BNP BNP PARIBAS NY CITIBANK N.A CREDIT AGRICOLE CIB JPMORGAN CHASE BANK SUMITOMO MITSUI BANKING SOCIETE GENERALE BBVA NEW YORK BRANCH LINEA SOBREGIRO (BANCO SANTANDER) BANCO CITIBANK FINEP - 1º PROTOCOLO FINEP - 2º PROTOCOLO 6ª NOTA PROMISSÓRIA Effective Interest Rate Nominal Interest Rate Type of Amortization Secured Current Non-Current 12-31-2019 Less than 90 days More than 90 days Total Current One to two Two to years three years Three to four years Four to five years More than five years Total Non- Current 4,40% 3,59% 8,74% 3,01% 9,11% 10,13% 6,27% 3,21% 5,18% 5,47% 5,13% 5,18% 5,21% 5,13% 5,18% 5,21% 5,86% 5,78% 5,83% 6,23% 9,11% 9,11% 10,13% 6,27% 3,01% 3,73% 6,39% 6,59% 6,59% 4,42% 4,16% 9,89% 4,16% 3,06% 3,37% 3,78% 4,99% 4,99% 4,99% 4,99% 4,99% 4,99% 4,99% 6,00% 4,66% 4,00% 5,24% 6,53% 4,39% 3,58% 7,14% 3,00% 8,93% 9,93% 6,13% 3,20% 5,09% 5,36% 5,03% 5,08% 5,11% 5,03% 5,08% 5,11% 5,74% 5,66% 5,71% 6,09% 8,82% 8,93% 9,93% 6,13% 3,00% 3,72% 6,38% 6,58% 6,58% 4,41% 4,10% 9,88% 4,15% 1,95% 3,36% 3,77% 2,67% 2,67% 2,67% 2,67% 2,67% 2,67% 2,67% 6,00% 4,65% 4,00% 5,00% 6,52% Upon expiration Upon expiration Upon expiration Monthly Monthly Monthly Monthly Quarterly Biannual Monthly Quarterly Quarterly Quarterly Quarterly Quarterly Quarterly Quarterly Quarterly Quarterly Quarterly Upon expiration Monthly Monthly Monthly Monthly Upon expiration Upon expiration Monthly Monthly Monthly Upon expiration Quarterly Upon expiration Quarterly Quarterly Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Monthly Monthly Monthly Yes Yes Yes Yes Yes Yes Yes Yes No No No No No No No No No No No No No Yes Yes Yes Yes Yes Yes Yes Yes Yes No Yes Yes Yes Yes Yes No No No No No No No No No Yes Yes No - 1,400 24,793 1,586 8 3,411 522 1,524 1,525 33 620 - 20 75 64 35 126 81 77 189 97 144 488 843 843 16 261 7 21 313 282 76 245 812 391 123 302 495 253 722 876 - - - - - - - - 1 1,539 1,514 1,514 98 53,436 5,108 - - - - - - - 123 80 77 562 272 417 837 837 47 768 3,709 3,342 71,338 4,703 - - - - - 48,028 50,395 105,546 35,182 35,182 35,182 70,364 35,182 35,182 60,534 2,132 - - - 1,586 8 3,411 2,061 3,038 3,039 131 54,056 5,108 20 75 64 35 249 161 154 751 369 561 1,888 24,793 1,680 1,680 63 1,029 7 21 4,022 3,624 71,414 - 4,948 812 391 48,151 50,697 105,546 35,182 35,182 35,182 70,364 35,182 35,182 1 61,029 253 2,854 876 167 158 242 1,191 5,564 5,012 22,614 8,062 145,407 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 75,769 97,075 2,053 99,436 2,053 855 5,074 692 2,537 1,038 1,038 1,038 1,384 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 75,769 97,075 99,436 4,961 7,611 5,190 167 158 242 1,191 2,560 1,145 1,641 40,801 36,756 22,614 20,156 145,407 48,576 - - - - - - - - - - - - - - - - - - - - - - - - - - - - 1,024 1,024 512 5,564 5,012 5,564 5,012 18,545 16,708 1,145 1,641 5,564 5,012 8,062 4,032 48,576 6,201 4,623 10,824 Currency Country United Kingdom US$ US$ U.S.A US$ U.S.A BRL Brazil BRL Brazil BRL Brazil BRL Brazil Brazil US$ Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP COP Japan BRL Brazil BRL Brazil BRL Brazil BRL Brazil US$ Brazil US$ Brazil BRL Brazil BRL Brazil BRL Brazil PEN Peru BRL Brazil US$ U.S.A US$ U.S.A US$ U.S.A US$ France US$ U.S.A US$ U.S.A US$ U.S.A US$ U.S.A US$ U.S.A US$ U.S.A US$ U.S.A CLP Chile US$ U.S.A BRL Brazil BRL Brazil BRL Brazil Totals 17,507 689,423 706,930 376,305 177,925 17,013 14,400 36,637 622,280 b) Unsecured bonds The detail of Unsecured bonds by currency and maturity as of December 31, 2020 and 2019 is as follows: - Summary of Unsecured bonds by currency and maturity IN THOUSANDS OF U.S. DOLLARS – THUS$ Current Maturity Nominal Interest Rate 5,30% 5,75% 6,34% 6,24% 6,24% 5,74% Secured / Unsecured Unsecured Unsecured Unsecured Unsecured Unsecured Unsecured One to three months Three to twelve months Total Current 12-31-2020 - - - 3.531 5.425 245.073 4.405 7.103 275 29.344 33.691 80.240 4.405 7.103 275 32.875 39.116 325.313 One to two Two to three years 3.611 - - 31.787 67.383 254.173 years - - - 44.225 62.493 223.554 Non-Current Maturity Three to four years - - - 42.126 361.796 202.170 Four to five years - - - 38.697 92.308 220.981 More than five years 588.112 - 10.017 161.837 175.405 284.119 Total Non- Current 12-31-2020 588.112 3.611 10.017 318.672 759.385 1.184.997 254.029 155.058 409.087 356.954 330.272 606.092 351.986 1.219.490 2.864.794 Country Currency US$ UF US$ PEN BRL COP Chile Chile Peru Peru Brazil Colombia Total 282282 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationITAU BBA INTERNATIONAL PLC Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign CITIBANK TRADE BNP PARIBAS BNDES BNDES-A BNDES-B BNDES-F SCOTIABANK Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Enel Distribución Ceará S.A. Brazil Enel Distribución Ceará S.A. Brazil Enel Distribución Ceará S.A. Brazil Enel Distribución Ceará S.A. Brazil Enel Distribución Ceará S.A. Brazil Enel Distribución Ceará S.A. Brazil Enel Distribución Ceará S.A. Brazil Enel Distribución Ceará S.A. Brazil Enel Distribución Ceará S.A. Brazil Enel Distribución Perú S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Colombia Foreign BANCO BBVA COLOMBIA S.A. Colombia Foreign BANCO DE BOGOTÁ Colombia Foreign BANCO BBVA COLOMBIA S.A. Colombia Foreign BANCO BBVA COLOMBIA S.A. Colombia Foreign BANCO BBVA COLOMBIA S.A. Colombia Foreign BANCO BBVA COLOMBIA S.A. Colombia Foreign BANCO BBVA COLOMBIA S.A. Colombia Foreign BANCO BBVA COLOMBIA S.A. Colombia Foreign BANCO BBVA COLOMBIA S.A. Colombia Foreign BANCO BBVA COLOMBIA S.A. Colombia Foreign BANCO BBVA COLOMBIA S.A. Colombia Foreign BANCO AGRARIO Colombia Foreign MUFG BANK LTD Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Peru Brazil Brazil Brazil Brazil Brazil Chile Chile Chile Chile Chile Chile Chile Chile Brazil Brazil Brazil Brazil BNDES CAPEX 12 A BNDES CAPEX 12 B BNDES CAPEX 12 F BNDES BANCO DO BRASIL (BOND D) BANCO DO BRASIL (BOND P) BNB Nº 16.2018.204.23875 BNB Nº 16.2018.204.23875 BNP BANCO DE CREDITO DEL PERÚ BNDES -FINAME CAPITAL DE GIRO CITIBANK SCOTIABANK SCOTIABANK BNP BNP PARIBAS NY CITIBANK N.A CREDIT AGRICOLE CIB JPMORGAN CHASE BANK SUMITOMO MITSUI BANKING SOCIETE GENERALE BBVA NEW YORK BRANCH BANCO CITIBANK FINEP - 1º PROTOCOLO FINEP - 2º PROTOCOLO 6ª NOTA PROMISSÓRIA 97036000-k LINEA SOBREGIRO (BANCO SANTANDER) 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. 94.271.000-3 Enel Américas S.A. Enel Generación Fortaleza Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Totals b) Unsecured bonds United Kingdom US$ U.S.A U.S.A Brazil Brazil Brazil Brazil Brazil US$ US$ BRL BRL BRL BRL US$ Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Japan COP Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Peru Brazil U.S.A U.S.A U.S.A U.S.A U.S.A U.S.A U.S.A U.S.A U.S.A U.S.A Chile U.S.A Brazil Brazil Brazil France BRL BRL BRL BRL US$ US$ BRL BRL BRL PEN BRL US$ US$ US$ US$ US$ US$ US$ US$ US$ US$ US$ CLP US$ BRL BRL BRL 4,40% 3,59% 8,74% 3,01% 9,11% 10,13% 6,27% 10,13% 3,21% 5,18% 5,47% 5,13% 5,18% 5,21% 5,13% 5,18% 5,21% 5,86% 5,78% 5,83% 6,23% 9,11% 9,11% 6,27% 3,01% 3,73% 6,39% 6,59% 6,59% 4,42% 4,16% 9,89% 4,16% 3,06% 3,37% 3,78% 4,99% 4,99% 4,99% 4,99% 4,99% 4,99% 4,99% 6,00% 4,66% 4,00% 5,24% 6,53% 4,39% 3,58% 7,14% 3,00% 8,93% 9,93% 6,13% 3,20% 5,09% 5,36% 5,03% 5,08% 5,11% 5,03% 5,08% 5,11% 5,74% 5,66% 5,71% 6,09% 8,82% 8,93% 9,93% 6,13% 3,00% 3,72% 6,38% 6,58% 6,58% 4,41% 4,10% 9,88% 4,15% 1,95% 3,36% 3,77% 2,67% 2,67% 2,67% 2,67% 2,67% 2,67% 2,67% 6,00% 4,65% 4,00% 5,00% 6,52% Upon expiration Upon expiration Upon expiration Monthly Monthly Monthly Monthly Quarterly Biannual Monthly Quarterly Quarterly Quarterly Quarterly Quarterly Quarterly Quarterly Quarterly Quarterly Quarterly Monthly Monthly Monthly Monthly Monthly Monthly Monthly Upon expiration Upon expiration Upon expiration Upon expiration Quarterly Upon expiration Quarterly Quarterly Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Monthly Monthly Monthly Yes Yes Yes Yes Yes Yes Yes Yes No No No No No No No No No No No No No Yes Yes Yes Yes Yes Yes Yes Yes Yes No Yes Yes Yes Yes Yes No No No No No No No No No Yes Yes No The detail of Unsecured bonds by currency and maturity as of December 31, 2020 and 2019 is as follows: - Summary of Unsecured bonds by currency and maturity IN THOUSANDS OF U.S. DOLLARS – THUS$ IN THOUSANDS OF U.S. DOLLARS – THUS$ Current Non-Current Taxpayer ID No. Company Taxpayer ID Country No. Financial Institution Country Currency Rate Rate Amortization Secured Less than 90 days More than 90 days Total Current One to two years Effective Nominal Interest Interest Type of 1,586 8 3,411 522 1,524 1,525 33 620 - 20 75 64 35 126 81 77 189 97 144 488 - 843 843 16 261 7 21 313 282 76 - 245 812 391 123 302 - - - - - - - 1 495 253 722 876 - - - 1,539 1,514 1,514 98 53,436 5,108 - - - - 123 80 77 562 272 417 1,400 24,793 837 837 47 768 - - 3,709 3,342 71,338 - 4,703 - - 48,028 50,395 105,546 35,182 35,182 35,182 70,364 35,182 35,182 - 60,534 - 2,132 - 1,586 8 3,411 2,061 3,038 3,039 131 54,056 5,108 20 75 64 35 249 161 154 751 369 561 1,888 24,793 1,680 1,680 63 1,029 7 21 4,022 3,624 71,414 - 4,948 812 391 48,151 50,697 105,546 35,182 35,182 35,182 70,364 35,182 35,182 1 61,029 253 2,854 876 12-31-2019 Two to three years - - 99,436 2,053 - - - - 75,769 97,075 - 2,053 - - - - 5,074 692 2,537 1,038 - - - - - - 167 158 242 1,191 - - - - - - - - - - - - - - - - - - 1,024 1,024 - - 5,564 5,012 - 22,614 8,062 145,407 - - - - - - - - - - - - - - - 5,564 5,012 - - 8,062 - 48,576 - - - - - - - - - - - - 6,201 - 4,623 - Three to four years Four to five years More than five years Total Non- Current - - - 855 - - - - - - - - - - - - - - - - - - - - - - - 1,038 1,038 1,384 - - - - - - - - - - - - - - 512 - - 5,564 5,012 - - 4,032 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 1,145 1,641 5,564 5,012 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 18,545 16,708 - - - - - - - - - - - - - - - - - - - 75,769 97,075 99,436 4,961 - - - - 7,611 5,190 - - - - - - 167 158 242 1,191 - - - - 2,560 1,145 1,641 40,801 36,756 - 22,614 20,156 145,407 48,576 - - - - - - - - - - - - 10,824 - 17,507 689,423 706,930 376,305 177,925 17,013 14,400 36,637 622,280 Country Currency Chile Chile Peru Peru Brazil Total Colombia US$ UF US$ PEN BRL COP Current Maturity Nominal Interest Rate 5,30% 5,75% 6,34% 6,24% 6,24% 5,74% Secured / Unsecured Unsecured Unsecured Unsecured Unsecured Unsecured Unsecured One to three Three to months twelve months Total Current 12-31-2020 - - - 3.531 5.425 245.073 4.405 7.103 275 29.344 33.691 80.240 4.405 7.103 275 32.875 39.116 325.313 One to two years Two to three years - 3.611 - 31.787 67.383 254.173 - - - 44.225 62.493 223.554 Non-Current Maturity Three to four years - - - 42.126 361.796 202.170 Four to five years - - - 38.697 92.308 220.981 More than five years 588.112 - 10.017 161.837 175.405 284.119 Total Non- Current 12-31-2020 588.112 3.611 10.017 318.672 759.385 1.184.997 254.029 155.058 409.087 356.954 330.272 606.092 351.986 1.219.490 2.864.794 283 Annual Report Enel Américas 2020IN THOUSANDS OF U.S. DOLLARS – THUS$ Country Currency Chile Chile Peru Peru Brazil Colombia Total US$ UF US$ PEN BRL COP Nominal Interest Rate 5,30% 5,75% 6,06% 6,26% 7,33% 7,71% Secured / Unsecured Unsecured Unsecured Unsecured Unsecured Unsecured Unsecured - Unsecured bonds by company Current Maturity One to three months Three to twelve months Total Current 12-31-2019 One to two Two to three Four to More than years years four years five years five years - - 418 3.992 61.962 33.128 4.471 6.228 10.002 41.588 2.064 100.781 4.471 6.228 10.420 45.580 64.026 133.909 Non-Current Maturity Three to - - - 48.244 240.094 232.874 - - - 45.954 298.609 134.501 586.224 - 10.001 218.755 316.363 450.078 Total Non- Current 12-31-2019 586.224 9.766 10.001 377.780 984.265 1.389.849 6.543 - - 30.152 43.503 307.641 3.223 - - 34.675 85.696 264.755 99.500 165.134 264.634 387.839 388.349 521.212 479.064 1.581.421 3.357.885 IN THOUSANDS OF U.S. DOLLARS – THUS$ Taxpayer ID No. Company Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Country Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Brazil Brazil Brazil Brazil Brazil Brazil Enel Generación Perú S.A. Enel Generación Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Chile Chile Chile Brazil Brazil Brazil 94.271.00-3 Enel Américas S.A. 94.271.00-3 Enel Américas S.A. 94.271.00-3 Enel Américas S.A. Enel Distribución Río S.A. Enel Distribución Sao Paulo Enel Distribución Sao Paulo Foreign Foreign Foreign Total 284284 Taxpayer ID No. Name Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign BONOS B12-13 BONOS B7-14 Bonos E5-17 BONOS E7-17 BONOS E7-18 BONOS B12-18 BONOS B5-18 BONOS E4-19 BONOS B10-19 BONOS E4-2020 BONOS B7-2020 DEBÊNTURES 5ª EMISSÃO - 1 SÉRIE (CEAR15) DEBÊNTURES 5ª EMISSÃO - 2 SÉRIE (CEAR25) DEBÊNTURES 6ª EMISSÃO - 1 SÉRIE (CEAR16) DEBÊNTURES 6ª EMISSÃO - 2 SÉRIE (CEAR26) DEBÊNTURES 7ª EMISSÃO - 1 SÉRIE (COCE17) DEBÊNTURES 7ª EMISSÃO - 1 SÉRIE (COCE27) BANCO CONTINENTAL TERC PROG 8VA EMISION SERIE A BANCO CONTINENTAL TERC PROG 1RA EMISION SERIE A BONOS 4TA PROGRAMA - 9NA EMISIÓN SERIE A Bonos 4ta Programa - 11ra emisión Serie A Bonos 4ta Programa - 13ra emisión Serie A BONOS 4TA PROGRAMA - 15VA EMISION SERIE A BONOS 4TA PROGRAMA - 12VA EMISION SERIE A BONOS 5TO PROGRAMA - 5TA EMISION SERIE A BONOS 5TO PROGRAMA - 8VA EMISION SERIE A BONOS 5TO PROGRAMA - 9NA EMISION SERIE A Bonos 5to Programa - 10ma emision Serie A BONOS 5TO PROGRAMA - 2DA EMISION SERIE A BONOS 5TO PROGRAMA - 19NA EMISION SERIE A BONOS 5TO PROGRAMA - 20DA EMISION SERIE A BONOS 5TO PROGRAMA - 21MA EMISION SERIE A BONOS 6TO PROGRAMA - 1 EMISION SERIE A BONOS 6TO PROGRAMA - 2 EMISION SERIE A BONOS 6TO PROGRAMA - 3 EMISION SERIE A BONOS 6TO PROGRAMA - 4 EMISION SERIE A BONOS B15-09 BONOS B12-09 BONOS EXTERIOR BONOS QUIMBO BONOS QUIMBO B10 BONOS QUIMBO B15 BONOS QUIMBO B12-13 BONOS QUIMBO B16-14 BONOS QUIMBO B10-14 BONOS B7-16 BONOS E6-16 YANKEE BONOS 2026 BONOS UF 269 YANKEE BONOS SERIE ÚNICA U.S. $ 600 MILLONES DEBENTURES 10 EMISSION (AMPL10) DEBÊNTURES - 24ª EMISSÃO 1ª SÉRIE DEBÊNTURES - 24ª EMISSÃO 2ª SÉRIE Effective Interest Rate 6.36% Nominal Interest Rate 6.22% 5.07% 7.60% 6.46% 6.74% 5.14% 4.35% 6.29% 5.10% 4.69% 3.98% 3.60% 10.41% 3.76% 10.61% 3.29% 9.27% 6.44% 6.41% 6.48% 6.25% 5.72% 5.13% 5.26% 7.55% 7.65% 7.02% 6.55% 6.55% 8.46% 6.28% 6.18% 5.88% 5.52% 6.08% 5.19% 7.67% 6.10% 9.11% 9.11% 5.06% 5.18% 6.56% 5.70% 5.38% 6.25% 7.59% 7.76% 7.02% 4.21% 3.01% 3.61% 8.73% 4.98% 7.39% 6.31% 6.58% 5.04% 4.28% 6.15% 5.01% 4.61% 3.92% 3.59% 10.40% 3.75% 10.60% 3.28% 9.26% 6.34% 6.31% 6.38% 6.15% 5.64% 5.06% 5.19% 7.41% 7.51% 6.90% 6.44% 6.44% 8.29% 6.19% 6.09% 5.80% 5.45% 5.99% 5.13% 7.46% 0.00% 8.75% 8.75% 4.97% 5.09% 6.41% 5.58% 5.27% 6.11% 7.38% 6.60% 5.75% 4.00% 2.99% 3.60% 8.72% Currency COP COP COP COP COP COP COP COP COP COP COP BRL BRL BRL BRL BRL BRL US$ PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN COP COP COP COP COP COP COP COP COP COP COP US$ UF US$ BRL BRL BRL Country Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Brazil Brazil Brazil Brazil Brazil Brazil Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia U.S.A Chile U.S.A Brazil Brazil Brazil Maturity Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Annual Annual Annual Annual Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Biannual Upon expiration Biannual Annual Upon expiration Current Non-Current 12-31-2020 Less than 90 days More than 90 days Total One to two Two to years three years Three to four years 450 51 4,729 54,062 Current 450 54,113 4,729 78,901 Four to five years 56,499 More than five years Total Non- Current 56,499 33,691 33,770 33,691 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 275 150 119 83 139 28,057 56 264 211 265 26,178 5 7,103 4,400 2,202 28,057 241 863 529 467 343 204 341 289 83 10 151 473 275 12 150 119 273 83 307 254 139 56 401 454 819 264 211 413 265 598 168 226 154 389 333 361 721 88 5 7,103 4,400 1,153 459 816 26,665 28,540 205,098 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 33,691 6,910 11,056 13,820 87,644 87,630 3,611 56,984 81,823 17,550 7,701 33,050 4,193 16,585 27,641 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 58,445 58,445 31,524 25,017 73,057 14,439 57,703 22,113 20,013 16,219 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 11,056 27,641 106,036 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 46,756 58,445 73,057 10,017 13,820 13,820 9,813 16,585 19,349 27,641 35,933 24,877 58,408 47,453 858 587,253 175,405 - 78,901 58,445 58,445 46,756 56,984 81,823 58,445 73,057 73,057 33,691 31,989 7,701 56,541 66,741 61,896 10,017 6,910 11,056 13,820 13,820 11,056 13,820 9,813 16,585 - 16,585 22,113 19,349 27,641 20,013 27,641 27,641 35,933 24,877 16,219 - - - 87,644 58,408 106,036 47,453 54,450 84,745 87,630 858 3,611 587,253 192,318 133,103 175,405 54,450 84,745 192,318 65,811 67,292 2,202 12 241 863 529 467 343 204 341 289 79 83 10 151 473 - - - - - - - - - - 273 307 254 401 454 819 413 598 168 487 226 154 389 333 361 721 88 - - - 1,153 459 816 28,540 205,098 254,029 155,058 409,087 356,954 330,272 606,092 351,986 1,219,490 2,864,794 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationIN THOUSANDS OF U.S. DOLLARS – THUS$ Country Currency Chile Chile Peru Peru Brazil Total Colombia US$ UF US$ PEN BRL COP Nominal Interest Rate 5,30% 5,75% 6,06% 6,26% 7,33% 7,71% Secured / Unsecured Unsecured Unsecured Unsecured Unsecured Unsecured Unsecured Current Maturity - - 418 3.992 61.962 33.128 One to three Three to months twelve months Total Current 12-31-2019 4.471 6.228 10.002 41.588 2.064 100.781 4.471 6.228 10.420 45.580 64.026 133.909 - Unsecured bonds by company IN THOUSANDS OF U.S. DOLLARS – THUS$ Taxpayer ID Taxpayer Company Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Country Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Name BONOS B12-13 BONOS B7-14 Bonos E5-17 BONOS E7-17 BONOS E7-18 BONOS B12-18 BONOS B5-18 BONOS E4-19 BONOS B10-19 BONOS E4-2020 BONOS B7-2020 ID No. Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Brazil Brazil Brazil Brazil Brazil Brazil Enel Generación Perú S.A. Enel Generación Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Chile Chile Chile Brazil Brazil Brazil No. Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Total DEBÊNTURES 5ª EMISSÃO - 1 SÉRIE (CEAR15) DEBÊNTURES 5ª EMISSÃO - 2 SÉRIE (CEAR25) DEBÊNTURES 6ª EMISSÃO - 1 SÉRIE (CEAR16) DEBÊNTURES 6ª EMISSÃO - 2 SÉRIE (CEAR26) DEBÊNTURES 7ª EMISSÃO - 1 SÉRIE (COCE17) DEBÊNTURES 7ª EMISSÃO - 1 SÉRIE (COCE27) BANCO CONTINENTAL TERC PROG 8VA EMISION SERIE A BANCO CONTINENTAL TERC PROG 1RA EMISION SERIE A BONOS 4TA PROGRAMA - 9NA EMISIÓN SERIE A Bonos 4ta Programa - 11ra emisión Serie A Bonos 4ta Programa - 13ra emisión Serie A BONOS 4TA PROGRAMA - 15VA EMISION SERIE A BONOS 4TA PROGRAMA - 12VA EMISION SERIE A BONOS 5TO PROGRAMA - 5TA EMISION SERIE A BONOS 5TO PROGRAMA - 8VA EMISION SERIE A BONOS 5TO PROGRAMA - 9NA EMISION SERIE A Bonos 5to Programa - 10ma emision Serie A BONOS 5TO PROGRAMA - 2DA EMISION SERIE A BONOS 5TO PROGRAMA - 19NA EMISION SERIE A BONOS 5TO PROGRAMA - 20DA EMISION SERIE A BONOS 5TO PROGRAMA - 21MA EMISION SERIE A BONOS 6TO PROGRAMA - 1 EMISION SERIE A BONOS 6TO PROGRAMA - 2 EMISION SERIE A BONOS 6TO PROGRAMA - 3 EMISION SERIE A BONOS 6TO PROGRAMA - 4 EMISION SERIE A BONOS B15-09 BONOS B12-09 BONOS EXTERIOR BONOS QUIMBO BONOS QUIMBO B10 BONOS QUIMBO B15 BONOS QUIMBO B12-13 BONOS QUIMBO B16-14 BONOS QUIMBO B10-14 BONOS B7-16 BONOS E6-16 YANKEE BONOS 2026 BONOS UF 269 94.271.00-3 Enel Américas S.A. 94.271.00-3 Enel Américas S.A. 94.271.00-3 Enel Américas S.A. Enel Distribución Río S.A. Enel Distribución Sao Paulo Enel Distribución Sao Paulo YANKEE BONOS SERIE ÚNICA U.S. $ 600 MILLONES DEBENTURES 10 EMISSION (AMPL10) DEBÊNTURES - 24ª EMISSÃO 1ª SÉRIE DEBÊNTURES - 24ª EMISSÃO 2ª SÉRIE Effective Interest Nominal Interest Currency Country Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Brazil Brazil Brazil Brazil Brazil Brazil Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia U.S.A Chile U.S.A Brazil Brazil Brazil COP COP COP COP COP COP COP COP COP COP COP BRL BRL BRL BRL BRL BRL US$ PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN COP COP COP COP COP COP COP COP COP COP COP US$ UF US$ BRL BRL BRL Rate 6.36% 5.07% 7.60% 6.46% 6.74% 5.14% 4.35% 6.29% 5.10% 4.69% 3.98% 3.60% 10.41% 3.76% 10.61% 3.29% 9.27% 6.44% 6.41% 6.48% 6.25% 5.72% 5.13% 5.26% 7.55% 7.65% 7.02% 6.55% 6.55% 8.46% 6.28% 6.18% 5.88% 5.52% 6.08% 5.19% 7.67% 6.10% 9.11% 9.11% 5.06% 5.18% 6.56% 5.70% 5.38% 6.25% 7.59% 7.76% 7.02% 4.21% 3.01% 3.61% 8.73% Rate 6.22% 4.98% 7.39% 6.31% 6.58% 5.04% 4.28% 6.15% 5.01% 4.61% 3.92% 3.59% 10.40% 3.75% 10.60% 3.28% 9.26% 6.34% 6.31% 6.38% 6.15% 5.64% 5.06% 5.19% 7.41% 7.51% 6.90% 6.44% 6.44% 8.29% 6.19% 6.09% 5.80% 5.45% 5.99% 5.13% 7.46% 0.00% 8.75% 8.75% 4.97% 5.09% 6.41% 5.58% 5.27% 6.11% 7.38% 6.60% 5.75% 4.00% 2.99% 3.60% 8.72% One to two Two to three Non-Current Maturity Three to Four to More than years years four years five years five years - 6.543 - 30.152 43.503 307.641 - 3.223 - 34.675 85.696 264.755 - - - 48.244 240.094 232.874 - - - 45.954 298.609 134.501 586.224 - 10.001 218.755 316.363 450.078 Total Non- Current 12-31-2019 586.224 9.766 10.001 377.780 984.265 1.389.849 99.500 165.134 264.634 387.839 388.349 521.212 479.064 1.581.421 3.357.885 Maturity Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Annual Annual Upon expiration Annual Annual Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Biannual Upon expiration Biannual Annual Upon expiration Current More than 90 days - 54,062 - - - - - - - - - Total Current 450 54,113 4,729 One to two years - - 78,901 241 863 529 467 343 204 341 289 - - - - - - - - 33,691 33,770 33,691 - - - - - 275 - 150 119 - 83 - - 139 28,057 56 - - - 264 211 - 265 - - 26,178 - - - - - - - - - 5 7,103 4,400 - - - 83 10 151 473 2,202 275 12 150 119 273 83 307 254 139 28,057 56 401 454 819 264 211 413 265 598 168 26,665 28,540 205,098 226 154 389 333 361 721 88 5 7,103 4,400 1,153 459 816 - - - 33,691 - - 6,910 11,056 - 13,820 - - - - - - - - - - - - - - - - - - 87,644 - - - - - 87,630 - 3,611 - - - - Less than 90 days 450 51 4,729 241 863 529 467 343 204 341 289 79 83 10 151 473 2,202 - 12 - - 273 - 307 254 - - - 401 454 819 - - 413 - 598 168 487 28,540 205,098 226 154 389 333 361 721 88 - - - 1,153 459 816 Non-Current 12-31-2020 Two to three years - - - - - - 56,984 81,823 - - - - 17,550 7,701 - 33,050 4,193 - - - - - - - - - - 16,585 - - 27,641 - - - - - - - - - - - - - - 84,745 - - - - - - - Three to four years - - - 58,445 - - - - - 73,057 - - 14,439 - 31,524 - 57,703 - - - - - - - - - - - 22,113 - - 20,013 - - - - 16,219 - - - - - - - 54,450 - - - - - 192,318 65,811 - Four to five years 56,499 More than five years - Total Non- Current 56,499 - - - 58,445 - - - - - - - - - 25,017 - - - - - - - 11,056 - - - - - - - - - 27,641 - - - - - - - - - - - - - 46,756 - - 58,445 - 73,057 - - - - - - 10,017 - - 13,820 - - 13,820 9,813 16,585 - - - 19,349 - - - 27,641 35,933 24,877 - - - - - 58,408 - 78,901 58,445 58,445 46,756 56,984 81,823 58,445 73,057 73,057 33,691 31,989 7,701 56,541 66,741 61,896 10,017 6,910 11,056 13,820 13,820 11,056 13,820 9,813 16,585 - 16,585 22,113 19,349 27,641 20,013 27,641 27,641 35,933 24,877 16,219 - - - 87,644 58,408 106,036 - 106,036 - - - - - - - - 67,292 47,453 - - - 858 - 587,253 - - - 175,405 47,453 54,450 84,745 87,630 858 3,611 587,253 192,318 133,103 175,405 254,029 155,058 409,087 356,954 330,272 606,092 351,986 1,219,490 2,864,794 285 Annual Report Enel Américas 2020Effective Interest Rate 8.83% Nominal Interest Rate 8.55% 7.50% 7.70% 7.39% 6.46% 6.74% 7.57% 6.77% 6.30% 7.53% 7.26% 10.99% 6.95% 10.02% 6.48% 8.22% 6.44% 6.41% 5.86% 7.58% 6.38% 6.15% 5.64% 5.06% 5.19% 6.86% 7.41% 6.61% 7.51% 6.90% 6.44% 6.44% 8.29% 6.19% 6.09% 5.80% 5.45% 5.99% 5.13% 10.16% 10.17% 9.11% 9.11% 7.50% 7.62% 8.94% 8.15% 7.82% 7.39% 7.39% 8.71% 7.59% 7.76% 7.02% 4.21% 6.42% 6.80% 6.82% 6.17% 7.30% 7.49% 7.39% 6.31% 6.58% 7.36% 6.60% 6.16% 7.33% 7.25% 10.50% 6.95% 9.10% 6.47% 7.36% 6.34% 6.31% 5.78% 7.44% 6.28% 6.06% 5.56% 5.00% 5.13% 6.75% 7.28% 6.50% 7.38% 6.78% 6.34% 6.34% 8.12% 6.09% 6.00% 5.72% 5.38% 5.91% 5.06% 9.80% 9.81% 8.75% 8.75% 7.29% 7.41% 8.65% 7.91% 7.60% 7.20% 7.20% 8.44% 7.38% 6.60% 5.75% 4.00% 6.42% 6.79% 6.27% 6.17% Currency COP COP COP COP COP COP COP COP COP COP BRL BRL BRL BRL BRL BRL US$ PEN US$ PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN COP COP COP COP COP COP COP COP COP COP COP COP COP US$ UF US$ BRL BRL BRL BRL Maturity Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Annual Annual Annual Annual Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Biannual Upon expiration Biannual Annual Upon expiration Monthly Current Non-Current 12-31-2019 Less than 90 days More than 90 days Total One to two Two to Current years three years Three to four years Four to five years More than five years 58,860 Total Non- Current 27,398 4,959 56,321 82,198 43,503 42,915 42,781 43,142 36,218 33,388 1,400 2,752 273 648 79 96 253 900 805 751 360 306 177 98 21 179 145 269 295 333 359 275 434 491 888 648 231 667 2,333 16,766 347 235 556 493 543 362 304 1,042 92 3,923 53,412 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 12 10,002 9,046 162 127 89 15,075 15,185 148 449 57 284 225 446 283 39,897 33,486 - - 5 - - 6,228 4,466 1,120 944 648 79 27,494 4,959 253 900 805 751 360 306 177 98 21 179 1,400 2,752 273 12 10,147 9,315 162 127 295 89 333 15,434 275 15,185 148 449 57 434 491 888 284 225 446 283 648 231 667 347 235 556 493 543 40,259 33,790 1,042 92 5 6,228 4,466 3,923 1,120 944 53,412 7,538 12,061 15,076 30,152 2,333 16,766 27,271 27,152 196,897 91,293 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 59,365 85,242 21,525 9,944 18,091 30,153 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 60,887 18,447 76,539 24,122 21,832 16,897 56,717 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 10,704 10,704 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 60,887 48,710 60,887 10,001 15,076 12,061 15,076 18,091 21,108 30,152 30,152 39,198 27,137 60,844 110,458 49,432 858 585,366 86,760 196,215 58,860 56,321 - 82,198 60,887 60,887 48,710 59,365 85,242 60,887 86,418 39,972 9,944 69,606 85,923 76,539 10,001 7,538 12,061 15,076 15,076 12,061 15,076 - - - - 18,091 30,152 18,091 24,122 21,108 30,153 21,832 30,152 30,152 39,198 27,137 16,897 27,271 27,152 196,897 91,293 60,844 110,458 49,432 56,717 - - 88,267 91,264 858 9,766 585,366 248,245 171,403 196,215 - 88,267 91,264 6,543 3,223 165,483 82,762 84,643 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 99,500 165,134 264,634 387,839 388,349 521,212 479,064 1,581,421 3,357,885 IN THOUSANDS OF U.S. DOLLARS – THUS$ Taxpayer ID No. Company Taxpayer ID No. Name Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Country Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Brazil Brazil Brazil Brazil Brazil Brazil Enel Generación Perú S.A. Enel Generación Perú S.A. Enel Generación Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Chile Chile Chile Brazil Brazil Brazil Brazil Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign BONOS B12-13 BONOS B7-14 BONOS E4-16 BONOS E5-17 BONOS E7-17 BONOS E7-18 BONOS B12-18 BONOS B5-18 BONOS E4-19 BONOS B10-19 DEBÊNTURES 5ª EMISSÃO - 1 SÉRIE (CEAR15) DEBÊNTURES 5ª EMISSÃO - 2 SÉRIE (CEAR25) DEBÊNTURES 6ª EMISSÃO - 1 SÉRIE (CEAR16) DEBÊNTURES 6ª EMISSÃO - 2 SÉRIE (CEAR26) DEBÊNTURES 7ª EMISSÃO - 1 SÉRIE (COCE17) DEBÊNTURES 7ª EMISSÃO - 1 SÉRIE (COCE27) BANCO CONTINENTAL TERC PROG 8VA EMISION SERIE A BANCO CONTINENTAL TERC PROG 1RA EMISION SERIE A Country Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Brazil Brazil Brazil Brazil Brazil Brazil Peru Peru BANCO SCOTIABANK CUARTO PROG 5TA EMISION SERIE A Peru BONOS 4TA PROGRAMA - 5TA MISIÓN SERIE A BONOS 4TA PROGRAMA - 9NA EMISIÓN SERIE A BONOS 4TA PROGRAMA - 11RA EMISIÓN SERIE A BONOS 4TA PROGRAMA - 13RA EMISIÓN SERIE A BONOS 4TA PROGRAMA - 15VA EMISION SERIE A BONOS 4TA PROGRAMA - 12VA EMISION SERIE A BONOS 5TO PROGRAMA - 1RA EMISION SERIE A BONOS 5TO PROGRAMA - 5TA EMISION SERIE A BONOS 5TO PROGRAMA - 1RA EMISION SERIE B BONOS 5TO PROGRAMA - 8VA EMISION SERIE A BONOS 5TO PROGRAMA - 9NA EMISION SERIE A BONOS 5TO PROGRAMA - 10MA EMISION SERIE A BONOS 5TO PROGRAMA - 2DA EMISION SERIE A BONOS 5TO PROGRAMA - 19NA EMISION SERIE A BONOS 5TO PROGRAMA - 20DA EMISION SERIE A BONOS 5TO PROGRAMA - 21MA EMISION SERIE A BONOS 6TO PROGRAMA - 1 EMISION SERIE A BONOS 6TO PROGRAMA - 2 EMISION SERIE A BONOS 6TO PROGRAMA - 3 EMISION SERIE A BONOS 6TO PROGRAMA - 4 EMISION SERIE A BONOS B15-09 BONOS B12-09 BONOS EXTERIOR BONOS QUIMBO BONOS QUIMBO B10 BONOS QUIMBO B15 BONOS QUIMBO B12-13 BONOS QUIMBO B16-14 BONOS QUIMBO B10-14 BONOS QUIMBO B6-14 BONOS B6-14 BONOS B7-16 BONOS E6-16 YANKEE BONOS 2026 BONOS UF 269 YANKEE BONOS SERIE ÚNICA U.S. $ 600 MILLONES DEBENTURES 10 EMISSION (AMPL10) DEBÊNTURES - 24ª EMISSÃO 1ª SÉRIE DEBÊNTURES - 24ª EMISSÃO 2ª SÉRIE 6ª NOTA PROMISSÓRIA Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia U.S.A Chile U.S.A Brazil Brazil Brazil Brazil 94.271.00-3 Enel Américas S.A. 94.271.00-3 Enel Américas S.A. 94.271.00-3 Enel Américas S.A. Enel Distribución Río S.A. Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Foreign Foreign Foreign Foreign Total 286286 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationIN THOUSANDS OF U.S. DOLLARS – THUS$ Taxpayer ID Taxpayer Company Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Country Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Name BONOS B12-13 BONOS B7-14 BONOS E4-16 BONOS E5-17 BONOS E7-17 BONOS E7-18 BONOS B12-18 BONOS B5-18 BONOS E4-19 BONOS B10-19 ID No. Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Brazil Brazil Brazil Brazil Brazil Brazil Enel Generación Perú S.A. Enel Generación Perú S.A. Enel Generación Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Chile Chile Chile Brazil Brazil Brazil Brazil No. Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Total DEBÊNTURES 5ª EMISSÃO - 1 SÉRIE (CEAR15) DEBÊNTURES 5ª EMISSÃO - 2 SÉRIE (CEAR25) DEBÊNTURES 6ª EMISSÃO - 1 SÉRIE (CEAR16) DEBÊNTURES 6ª EMISSÃO - 2 SÉRIE (CEAR26) DEBÊNTURES 7ª EMISSÃO - 1 SÉRIE (COCE17) DEBÊNTURES 7ª EMISSÃO - 1 SÉRIE (COCE27) BANCO CONTINENTAL TERC PROG 8VA EMISION SERIE A BANCO CONTINENTAL TERC PROG 1RA EMISION SERIE A BANCO SCOTIABANK CUARTO PROG 5TA EMISION SERIE A Peru BONOS 4TA PROGRAMA - 5TA MISIÓN SERIE A BONOS 4TA PROGRAMA - 9NA EMISIÓN SERIE A BONOS 4TA PROGRAMA - 11RA EMISIÓN SERIE A BONOS 4TA PROGRAMA - 13RA EMISIÓN SERIE A BONOS 4TA PROGRAMA - 15VA EMISION SERIE A BONOS 4TA PROGRAMA - 12VA EMISION SERIE A BONOS 5TO PROGRAMA - 1RA EMISION SERIE A BONOS 5TO PROGRAMA - 5TA EMISION SERIE A BONOS 5TO PROGRAMA - 1RA EMISION SERIE B BONOS 5TO PROGRAMA - 8VA EMISION SERIE A BONOS 5TO PROGRAMA - 9NA EMISION SERIE A BONOS 5TO PROGRAMA - 10MA EMISION SERIE A BONOS 5TO PROGRAMA - 2DA EMISION SERIE A BONOS 5TO PROGRAMA - 19NA EMISION SERIE A BONOS 5TO PROGRAMA - 20DA EMISION SERIE A BONOS 5TO PROGRAMA - 21MA EMISION SERIE A BONOS 6TO PROGRAMA - 1 EMISION SERIE A BONOS 6TO PROGRAMA - 2 EMISION SERIE A BONOS 6TO PROGRAMA - 3 EMISION SERIE A BONOS 6TO PROGRAMA - 4 EMISION SERIE A BONOS B15-09 BONOS B12-09 BONOS EXTERIOR BONOS QUIMBO BONOS QUIMBO B10 BONOS QUIMBO B15 BONOS QUIMBO B12-13 BONOS QUIMBO B16-14 BONOS QUIMBO B10-14 BONOS QUIMBO B6-14 BONOS B6-14 BONOS B7-16 BONOS E6-16 YANKEE BONOS 2026 BONOS UF 269 94.271.00-3 Enel Américas S.A. 94.271.00-3 Enel Américas S.A. 94.271.00-3 Enel Américas S.A. Enel Distribución Río S.A. Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo YANKEE BONOS SERIE ÚNICA U.S. $ 600 MILLONES DEBENTURES 10 EMISSION (AMPL10) DEBÊNTURES - 24ª EMISSÃO 1ª SÉRIE DEBÊNTURES - 24ª EMISSÃO 2ª SÉRIE 6ª NOTA PROMISSÓRIA Effective Interest Nominal Interest Currency Country Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Brazil Brazil Brazil Brazil Brazil Brazil Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia U.S.A Chile U.S.A Brazil Brazil Brazil Brazil COP COP COP COP COP COP COP COP COP COP BRL BRL BRL BRL BRL BRL US$ PEN US$ PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN PEN COP COP COP COP COP COP COP COP COP COP COP COP COP US$ UF US$ BRL BRL BRL BRL Rate 8.83% 7.50% 7.70% 7.39% 6.46% 6.74% 7.57% 6.77% 6.30% 7.53% 7.26% 10.99% 6.95% 10.02% 6.48% 8.22% 6.44% 6.41% 5.86% 7.58% 6.38% 6.15% 5.64% 5.06% 5.19% 6.86% 7.41% 6.61% 7.51% 6.90% 6.44% 6.44% 8.29% 6.19% 6.09% 5.80% 5.45% 5.99% 5.13% 10.16% 10.17% 9.11% 9.11% 7.50% 7.62% 8.94% 8.15% 7.82% 7.39% 7.39% 8.71% 7.59% 7.76% 7.02% 4.21% 6.42% 6.80% 6.82% 6.17% 10.50% Rate 8.55% 7.30% 7.49% 7.39% 6.31% 6.58% 7.36% 6.60% 6.16% 7.33% 7.25% 6.95% 9.10% 6.47% 7.36% 6.34% 6.31% 5.78% 7.44% 6.28% 6.06% 5.56% 5.00% 5.13% 6.75% 7.28% 6.50% 7.38% 6.78% 6.34% 6.34% 8.12% 6.09% 6.00% 5.72% 5.38% 5.91% 5.06% 9.80% 9.81% 8.75% 8.75% 7.29% 7.41% 8.65% 7.91% 7.60% 7.20% 7.20% 8.44% 7.38% 6.60% 5.75% 4.00% 6.42% 6.79% 6.27% 6.17% Current More than 90 days - - 27,398 - - - - - - - - - - - - - - 12 10,002 9,046 162 127 - 89 - 15,075 - 15,185 148 449 57 - - - 284 225 446 283 - - - - - - - - - - 39,897 33,486 - - 5 6,228 4,466 - 1,120 944 - Less than 90 days 648 79 96 4,959 253 900 805 751 360 306 177 98 21 179 1,400 2,752 273 - 145 269 - - 295 - 333 359 275 - - - - 434 491 888 - - - - 648 231 667 2,333 16,766 347 235 556 493 543 362 304 1,042 92 - - - 3,923 - - 53,412 Total Current 648 79 27,494 4,959 253 900 805 751 360 306 177 98 21 179 1,400 2,752 273 12 10,147 9,315 162 127 295 89 333 15,434 275 15,185 148 449 57 434 491 888 284 225 446 283 648 231 667 2,333 16,766 347 235 556 493 543 40,259 33,790 1,042 92 5 6,228 4,466 3,923 1,120 944 53,412 Maturity Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Annual Annual Upon expiration Annual Annual Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Upon expiration Biannual Upon expiration Biannual Annual Upon expiration Monthly One to two years - 56,321 - - - - - - - - 12-31-2019 Two to three years - - - 82,198 - - - - - - 43,503 42,915 - - - Non-Current Three to four years - Four to five years - More than five years 58,860 - - - - - - 59,365 85,242 - - 21,525 9,944 - - - 60,887 - - - - - - 18,447 - - - - - 60,887 48,710 - - 60,887 - - - - 36,218 33,388 - - - - - - - - - - - - - - - - - - 30,152 - - - - - - - - - - 27,271 27,152 196,897 - - - - - - - - - - 6,543 - - - - - 42,781 43,142 - - 7,538 - - 12,061 - 15,076 - - - - - - - - - - - - - - - - - - - - 91,293 - - - - - - - 91,264 - 3,223 - - - - - - - - - - - - - - - - - - - - 18,091 - - 30,153 - - - - - - - - - - - - - - - - 88,267 - - - - 165,483 - - - - 76,539 - - - - - - - - - - - - - - - 24,122 - - 21,832 - - - - 16,897 - - - - - - - 56,717 - - - - - - - 82,762 84,643 - - Total Non- Current 58,860 56,321 - 82,198 60,887 60,887 48,710 59,365 85,242 60,887 86,418 39,972 9,944 69,606 85,923 76,539 10,001 7,538 - - 12,061 15,076 15,076 12,061 15,076 - - - 10,001 - - - - 15,076 - 12,061 15,076 - 10,704 10,704 - 18,091 - - - 21,108 - - 30,152 30,152 39,198 27,137 - - - - - 60,844 110,458 49,432 - - - - - 858 - 585,366 - 86,760 196,215 - - 18,091 30,152 18,091 24,122 21,108 30,153 21,832 30,152 30,152 39,198 27,137 16,897 27,271 27,152 196,897 91,293 60,844 110,458 49,432 56,717 - - 88,267 91,264 858 9,766 585,366 248,245 171,403 196,215 - 99,500 165,134 264,634 387,839 388,349 521,212 479,064 1,581,421 3,357,885 287 Annual Report Enel Américas 2020c) Secured bonds The detail of Secured bonds by currency and maturity as for the years ended December 31, 2020 and 2019, is as follows: - Summary of secured bonds by currency and maturity IN THOUSANDS OF U.S. DOLLARS – THUS$ Currency BRL Nominal Interest Rate 7,31% Country Brazil Total IN THOUSANDS OF U.S. DOLLARS – THUS$ Currency BRL Nominal Interest Rate 7,31% Country Brazil Total - Secured bonds by company IN THOUSANDS OF U.S. DOLLARS – THUS$ Current Maturity Secured / Unsecured Unsecured One to three months Three to twelve months 3,478 151,477 Total Current 12-31-2020 154,955 One to two Two to three years 149,733 years 150,272 Non-Current Maturity Three to four years 16,027 Four to five years 16,027 More than five years 63,230 Total Non- Current 12-31-2020 395,289 3,478 151,477 154,955 149,733 150,272 16,027 16,027 63,230 395,289 Current Maturity Secured / Unsecured Unsecured One to three months Three to twelve months Total Current 12-31-2019 11,275 384,712 395,987 One to two Two to three years 194,043 years 192,045 Non-Current Maturity Three to four years 192,727 Four to five years 19,628 More than five years 98,086 Total Non- Current 12-31-2019 696,529 11,275 384,712 395,987 194,043 192,045 192,727 19,628 98,086 696,529 Taxpayer ID No. Company Country Taxpayer ID No. Name Enel Green Power Volta Grande Enel Green Power Volta Grande Enel Distribución Sao Paulo Enel Distribución Sao Paulo Brazil Brazil Brazil Brazil Foreign DEBÊNTURES 1ª EMISSÃO (EGVG11) - 1ª SÉRIE Foreign Foreign Foreign DEBÊNTURES 1ª EMISSÃO (EGVG21) - 2ª SÉRIE DEBÊNTURES - 23ª EMISSÃO 1ª SÉRIE DEBÊNTURES - 23ª EMISSÃO 2ª SÉRIE Foreign Foreign Foreign Foreign Total Country Currency Brazil Brazil Brazil Brazil BRL BRL BRL BRL Effective Interest Rate Nominal Interest Rate 8.24% 8.23% 8.22% 3.02% 3.10% 8.21% 3.01% 3.08% IN THOUSANDS OF U.S. DOLLARS – THUS$ Taxpayer ID No. Company Country Enel Distribución Río S.A. Enel Distribución Goias S.A. Enel Green Power Volta Grande Enel Green Power Volta Grande Enel Distribución Sao Paulo Enel Distribución Sao Paulo Brazil Brazil Brazil Brazil Brazil Brazil Foreign Foreign Foreign Foreign Foreign Foreign Total Taxpayer ID No. Foreign Foreign Name DEBENTURES 9 EMISSION (AMPL19) 3ª NOTA PROMISSORIA ITAÚ Foreign DEBÊNTURES 1ª EMISSÃO (EGVG11) - 1ª SÉRIE Foreign Foreign Foreign DEBÊNTURES 1ª EMISSÃO (EGVG21) - 2ª SÉRIE DEBÊNTURES - 23ª EMISSÃO 1ª SÉRIE DEBÊNTURES - 23ª EMISSÃO 2ª SÉRIE Country Currency Brazil Brazil Brazil Brazil Brazil Brazil BRL BRL BRL BRL BRL BRL Effective Interest Rate 6.80% Nominal Interest Rate 6.78% 6.69% 6.68% 9.17% 8.17% 9.17% 6.45% 6.62% 8.17% 6.43% 6.60% - Fair value measurement and hierarchy - The fair value of current and non-current secured and unsecured liabilities as of December 31, 2020 totaled ThUS$4,017,861 (ThUS$4,877,583 as of December 31, 2019). These liabilities have been classified as Level 2 fair value measurement based on the entry data used in the valuation techniques used (see Note 3.h). It is important to note that these financial liabilities are measured at amortized cost (see Note 3 g.4) 288288 Maturity Annual Annual Annual Upon expiration Maturity Upon expiration Upon expiration Biannual Monthly Upon expiration Annual Current Non-Current 12-31-2020 Less than 90 days More than 90 days Total One to two Two to Current years three years Three to four years Four to five years More than five years Total Non- Current 727 10,570 11,297 10,620 10,595 10,595 10,595 41,778 84,183 317 758 1,676 5,495 135,412 - 5,812 136,170 1,676 5,432 - 5,446 - 133,681 134,231 5,432 5,432 21,452 43,194 3,478 151,477 154,955 149,733 150,272 16,027 16,027 63,230 395,289 Current Non-Current 12-31-2019 More than Total One to two Two to years three years Three to four years Four to five years More than five years Total Non- Current Less than 90 days 226 1,516 90 days 148,960 216,039 Current 149,186 217,555 713 12,980 13,693 12,987 12,988 12,988 12,989 64,866 116,818 288 2,812 5,720 6,733 - - 7,021 2,812 5,720 6,638 174,418 172,418 173,100 6,639 6,639 6,639 33,220 - - - - - - - 267,912 - - 59,775 174,418 345,518 - - - - - - - - - - - - - - - - - 11,275 384,712 395,987 194,043 192,045 192,727 19,628 98,086 696,529 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Informationc) Secured bonds The detail of Secured bonds by currency and maturity as for the years ended December 31, 2020 and 2019, is as follows: - Summary of secured bonds by currency and maturity IN THOUSANDS OF U.S. DOLLARS – THUS$ Current Maturity Current Maturity Secured / Unsecured Unsecured One to three Three to months twelve months 3,478 151,477 Total Current 12-31-2020 154,955 One to two years 149,733 Two to three years 150,272 Non-Current Maturity Three to four years 16,027 Four to five years 16,027 More than five years 63,230 Total Non- Current 12-31-2020 395,289 3,478 151,477 154,955 149,733 150,272 16,027 16,027 63,230 395,289 Secured / Unsecured Unsecured One to three Three to months twelve months Total Current 12-31-2019 11,275 384,712 395,987 One to two years 194,043 Two to three years 192,045 Non-Current Maturity Three to four years 192,727 Four to five years 19,628 More than five years 98,086 Total Non- Current 12-31-2019 696,529 11,275 384,712 395,987 194,043 192,045 192,727 19,628 98,086 696,529 Taxpayer ID No. Company Country Taxpayer ID No. Name Enel Green Power Volta Foreign Grande Enel Green Power Volta Grande Enel Distribución Sao Paulo Enel Distribución Sao Paulo Brazil Brazil Brazil Brazil Foreign DEBÊNTURES 1ª EMISSÃO (EGVG11) - 1ª SÉRIE Foreign Foreign Foreign DEBÊNTURES 1ª EMISSÃO (EGVG21) - 2ª SÉRIE DEBÊNTURES - 23ª EMISSÃO 1ª SÉRIE DEBÊNTURES - 23ª EMISSÃO 2ª SÉRIE IN THOUSANDS OF U.S. DOLLARS – THUS$ Company Country Name Country Currency Foreign Grande Foreign DEBÊNTURES 1ª EMISSÃO (EGVG11) - 1ª SÉRIE Enel Distribución Río S.A. Enel Distribución Goias S.A. Enel Green Power Volta Enel Green Power Volta Grande Enel Distribución Sao Paulo Enel Distribución Sao Paulo Brazil Brazil Brazil Brazil Brazil Brazil Taxpayer ID No. Foreign Foreign DEBENTURES 9 EMISSION (AMPL19) 3ª NOTA PROMISSORIA ITAÚ Foreign Foreign Foreign DEBÊNTURES 1ª EMISSÃO (EGVG21) - 2ª SÉRIE DEBÊNTURES - 23ª EMISSÃO 1ª SÉRIE DEBÊNTURES - 23ª EMISSÃO 2ª SÉRIE Country Currency Rate Rate Effective Interest Nominal Interest Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL 8.24% 8.23% 8.22% 3.02% 3.10% 8.21% 3.01% 3.08% Effective Interest Nominal Interest Rate 6.80% 6.69% Rate 6.78% 6.68% 9.17% 8.17% 9.17% 6.45% 6.62% 8.17% 6.43% 6.60% Maturity Annual Annual Upon expiration Annual Maturity Upon expiration Upon expiration Biannual Monthly Upon expiration Annual Current Non-Current 12-31-2020 Less than 90 days More than 90 days Total Current One to two years Two to three years Three to four years Four to five years More than five years Total Non- Current 727 10,570 11,297 10,620 10,595 10,595 10,595 41,778 84,183 317 758 1,676 5,495 135,412 - 5,812 136,170 1,676 5,432 - 5,446 - 133,681 134,231 5,432 5,432 21,452 43,194 - - - - - - - 267,912 3,478 151,477 154,955 149,733 150,272 16,027 16,027 63,230 395,289 Current Non-Current Less than 90 days 226 More than 90 days 148,960 1,516 216,039 Total Current 149,186 217,555 One to two years - 12-31-2019 Two to three years - Three to four years - - - - Four to five years - - More than five years - - Total Non- Current - - 713 12,980 13,693 12,987 12,988 12,988 12,989 64,866 116,818 288 2,812 5,720 6,733 - - 7,021 2,812 5,720 6,638 174,418 - 6,639 - 172,418 6,639 - 173,100 6,639 33,220 - - - - 59,775 174,418 345,518 11,275 384,712 395,987 194,043 192,045 192,727 19,628 98,086 696,529 IN THOUSANDS OF U.S. DOLLARS – THUS$ Currency BRL Currency BRL Nominal Interest Rate 7,31% Nominal Interest Rate 7,31% - Secured bonds by company IN THOUSANDS OF U.S. DOLLARS – THUS$ Country Brazil Total Country Brazil Total Foreign Foreign Foreign Total Taxpayer ID No. Foreign Foreign Foreign Foreign Foreign Total 289 Annual Report Enel Américas 2020Less than More than Total One to two Three to Four to More than Total Non- Maturity 90 days 90 days Current years four years five years five years Current Current Non-Current Monthly Monthly Monthly Monthly Biannual Monthly Monthly Monthly Monthly Quarterly Monthly Quarterly Monthly Monthly Monthly Monthly Biannual Monthly Monthly Monthly Monthly 21 82 69 78 - 1,670 1,033 613 113 49 45 81 106 89 100 - 3,526 2,113 178 748 - 165 206 233 6,088 7,240 4,245 1,736 339 - - 244 319 266 301 7,281 7,992 3,659 534 2,099 12-31-2020 Two to three years - - - - - 259 7,594 3,141 777 1,797 318 Two to three years - - 207 402 3,221 11,022 5,522 620 2,260 21 247 275 311 6,088 8,910 5,278 2,349 452 49 45 - - 160 311 6,494 7,493 3,563 1,630 318 - - 325 425 355 401 7,281 11,518 5,772 712 2,847 27 319 355 402 2,834 11,022 5,522 620 2,058 7,494 7,494 11,709 1,975 159 2,165 4,506 - - - - - - - - - - - - - - - - - - - - - - - - - - 335 6,753 5,403 2,194 620 2,475 8,013 19,827 310 2,705 9,055 - - - - - - - - - - - - - - - - - - - 160 570 40,785 10,634 4,340 12,073 795 - - 112,050 27 319 562 1,139 40,648 27,447 13,238 2,170 18,553 51,685 12,929 64,614 34,477 34,477 34,477 8,619 55,458 33,181 88,639 54,446 48,363 44,105 18,278 16,215 181,407 Current 12-31-2019 Non-Current Less than More than Total One to two Three to Four to More than Total Non- Maturity 90 days 90 days Current years four years five years five years Current 6,941 22,695 29,636 23,159 23,254 17,780 11,028 28,882 104,103 - Detail of other obligations IN THOUSANDS OF U.S. DOLLARS – THUS$ Taxpayer ID No. Company Country Taxpayer ID No. Company Country Currency Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Brazil Brazil Brazil Brazil Foreign Foreign Foreign Foreign ELETROBRAS 0244/2009 ELETROBRAS 0265/2009 ELETROBRAS 292/2010 ELETROBRAS 310/2010 Brazil Brazil Brazil Brazil Enel Generación Costanera S.A. Argentina Foreign MITSUBISHI (DEUDA GARANTIZADA) Argentina Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Brazil Brazil Brazil Brazil Foreign Foreign Foreign Foreign FIDC SÉRIE A FIDC SÉRIE B MÚTUO CELGPAR 41211376/2014 ELETROBRAS Emgesa S.A. E.S.P. Colombia Foreign BANK OF NOVA SCOTIA Codensa Colombia Foreign BANK OF NOVA SCOTIA Enel Distribución Sao Paulo Brazil Foreign FUNDAÇÃO CESP (*) Brazil Brazil Brazil Brazil Colombia Colombia Brazil BRL BRL BRL BRL US$ BRL BRL BRL BRL COP COP BRL Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Total IN THOUSANDS OF U.S. DOLLARS – THUS$ Taxpayer ID No. Company Country Taxpayer ID No. Company Country Currency Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Brazil Brazil Brazil Brazil Foreign Foreign Foreign Foreign ELETROBRAS 0244/2009 ELETROBRAS 0265/2009 ELETROBRAS 292/2010 ELETROBRAS 310/2010 Brazil Brazil Brazil Brazil Enel Generación Costanera S.A. Argentina Foreign MITSUBISHI (DEUDA GARANTIZADA) Argentina Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Brazil Brazil Brazil Brazil Foreign Foreign Foreign Foreign FIDC SÉRIE A FIDC SÉRIE B ELETROBRAS MÚTUO CELGPAR 41211376/2014 Brazil Brazil Brazil Brazil BRL BRL BRL BRL US$ BRL BRL BRL BRL Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Total Nominal Interest Rate 6.00% 6.00% 6.00% 6.00% 0.25% 6.15% 12.32% 6.80% 6.00% 0.30% 0.02% 9.47% Nominal Interest Rate 6.00% 6.00% 6.00% 6.00% 0.25% 9.11% 14.42% 6.00% 6.80% (*) See Note 26.2.c) d) Hedged debt. The debt denominated in U.S. dollars for ThUS$ 35,064 held by the Group as of December 31, 2020, is related to future cash flow hedges for the Group’s U.S. dollar-linked operating revenues (ThUS$29,474 and ThUS$40,867 as of December 31, 2019 and 2018, respectively) (see Note 3.n). The following table details changes in “Reserve for cash flow hedges” for the years ended December 31, 2020, 2019 and 2018, due to exchange differences from this debt: IN THOUSANDS OF U.S. DOLLARS – THUS$ Balance in hedging reserves (hedging revenues) at the beginning of the year, net Foreign currency exchange differences recorded in equity, net Recognition of foreign currency exchange differences revenue, net Foreign currency translation differences 2020 (9.453) (1.319) 913 756 2019 (9.882) 424 189 (184) Balance in hedging reserves (hedging revenues) at the end of the year, net (9.103) (9.453) 2018 (9.754) (1.181) 634 419 (9.882) 290290 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information - Detail of other obligations IN THOUSANDS OF U.S. DOLLARS – THUS$ Company Country ID No. Company Country Currency Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Taxpayer Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign ELETROBRAS 0244/2009 ELETROBRAS 0265/2009 ELETROBRAS 292/2010 ELETROBRAS 310/2010 FIDC SÉRIE A FIDC SÉRIE B ELETROBRAS MÚTUO CELGPAR 41211376/2014 Enel Generación Costanera S.A. Argentina Foreign MITSUBISHI (DEUDA GARANTIZADA) Argentina Emgesa S.A. E.S.P. Colombia Foreign BANK OF NOVA SCOTIA Codensa Colombia Foreign BANK OF NOVA SCOTIA Enel Distribución Sao Paulo Brazil Foreign FUNDAÇÃO CESP (*) Colombia Colombia Brazil IN THOUSANDS OF U.S. DOLLARS – THUS$ Company Country ID No. Company Country Currency Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Taxpayer Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign ELETROBRAS 0244/2009 ELETROBRAS 0265/2009 ELETROBRAS 292/2010 ELETROBRAS 310/2010 FIDC SÉRIE A FIDC SÉRIE B ELETROBRAS MÚTUO CELGPAR 41211376/2014 Enel Generación Costanera S.A. Argentina Foreign MITSUBISHI (DEUDA GARANTIZADA) Argentina Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil BRL BRL BRL BRL US$ BRL BRL BRL BRL COP COP BRL BRL BRL BRL BRL US$ BRL BRL BRL BRL Nominal Interest Rate 6.00% 6.00% 6.00% 6.00% 0.25% 6.15% 12.32% 6.80% 6.00% 0.30% 0.02% 9.47% Nominal Interest Rate 6.00% 6.00% 6.00% 6.00% 0.25% 9.11% 14.42% 6.00% 6.80% Taxpayer ID No. Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Total Taxpayer ID No. Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Total (*) See Note 26.2.c) Current Non-Current Less than 90 days More than 90 days Total Current One to two years 21 82 69 78 - 1,670 1,033 613 113 49 45 - 165 206 233 6,088 7,240 4,245 1,736 339 - - 21 247 275 311 6,088 8,910 5,278 2,349 452 49 45 - - 160 311 6,494 7,493 3,563 1,630 318 - - 12-31-2020 Two to three years - - - 259 7,594 3,141 777 1,797 318 - - Maturity Monthly Monthly Monthly Monthly Biannual Monthly Monthly Monthly Monthly Quarterly Monthly Quarterly Three to four years Four to five years More than five years Total Non- Current - - - - - - - - - - - - 7,494 7,494 11,709 - - - - 2,165 4,506 - - 1,975 159 - - - - - - - - - - - 160 570 40,785 10,634 4,340 12,073 795 - - 112,050 51,685 12,929 64,614 34,477 34,477 34,477 8,619 55,458 33,181 88,639 54,446 48,363 44,105 18,278 16,215 181,407 Current 12-31-2019 Non-Current Maturity Monthly Monthly Monthly Monthly Biannual Monthly Monthly Monthly Monthly Less than 90 days More than 90 days Total Current One to two years 81 106 89 100 - 3,526 2,113 178 748 244 319 266 301 7,281 7,992 3,659 534 2,099 325 425 355 401 7,281 11,518 5,772 712 2,847 27 319 355 402 2,834 11,022 5,522 620 2,058 Two to three years - - 207 402 3,221 11,022 5,522 620 2,260 Three to four years Four to five years More than five years Total Non- Current - - - 335 6,753 5,403 2,194 620 2,475 - - - - - - - - 8,013 19,827 - - 310 2,705 - - - 9,055 27 319 562 1,139 40,648 27,447 13,238 2,170 18,553 6,941 22,695 29,636 23,159 23,254 17,780 11,028 28,882 104,103 e) Other information. As of December 31, 2020, the Group does not have unconditional long-term lines of credit at their disposal (ThUS$706,000 as of December 31, 2019). f) Future undiscounted debt flows The following table shows the estimates of undiscounted cash flows by type of financial debt: 291 Annual Report Enel Américas 2020 - Summary of bank loans by currencies and maturities IN THOUSANDS OF U.S. DOLLARS – THUS$ Country Chile Peru Peru Colombia Brazil Brazil Total Currency US$ PEN US$ COP US$ BRL IN THOUSANDS OF U.S. DOLLARS – THUS$ Country Chile Peru Colombia Brazil Brazil Total Currency US$ PEN COP US$ BRL Current Maturity Nominal Interest Rate 0.94% 2.71% 2.59% 3.62% 2.91% 3.80% One to three months 175,940 1,102 151 2,746 294,873 10,496 Three to twelve months 150,366 171,132 25,050 125,276 107,696 112,467 Total Current 12-31-2020 326,306 172,234 25,201 128,022 402,569 122,963 One to two years Two to three years Four to five years More than five years 48,505 - - 15,435 49,366 143,573 - - 39,557 23,344 127 18,697 Non-Current Maturity Three to four years - - - 21,204 2,819 11,953 - - - - 10,775 10,476 - - - - 334 22,414 Total Non-Current 12-31-2020 - - 88,062 71,092 52,312 207,113 485,308 691,987 1,177,295 256,879 81,725 35,976 21,251 22,748 418,579 Current Maturity Nominal Interest Rate 3.33% 4.10% 5.61% 4.40% 6.56% One to three months 2,859 235 2,221 6,217 11,071 Three to twelve months 350,952 704 34,131 298,443 32,956 Total Current 12-31-2019 353,811 939 36,352 304,660 44,027 One to two years - 23,080 8,228 322,374 39,125 Two to three years - - 3,875 49,552 129,934 Non-Current Maturity Three to four years - - 1,200 140 22,224 Four to five years More than five years - - 1,145 2,827 13,671 - - - 1,439 37,964 Total Non-Current 12-31-2019 - 23,080 15,887 374,893 242,918 22,603 717,186 739,789 392,807 183,361 23,564 17,643 39,403 656,778 - Summary of secured and unsecured bonds by currency and maturity IN THOUSANDS OF U.S. DOLLARS – THUS$ Country Chile Chile Peru Peru Colombia Brazil Total Currency US$ UF US$ PEN COP BRL IN THOUSANDS OF U.S. DOLLARS – THUS$ Current Maturity Nominal Interest Rate 5.30% 5.75% 6.34% 6.24% 5.74% 5.94% One to three months 6,248 172 157 5,292 236,187 17,348 Three to twelve months 18,743 7,482 471 42,218 138,040 236,255 Total Current 12-31-2020 24,991 7,654 628 47,510 374,227 253,603 265,404 443,209 708,613 680,112 749,924 633,075 429,427 1,436,622 3,929,160 Currency US$ UF US$ PEN COP BRL Current Maturity Nominal Interest Rate 5.30% 5.75% 6.06% 6.31% 7.18% 7.34% One to three months 6,265 340 305 6,444 28,377 88,674 Three to twelve months 18,794 7,080 10,768 57,879 182,656 487,188 Total Current 12-31-2019 25,059 7,420 11,073 64,323 211,033 575,862 130,405 764,365 894,770 828,877 796,760 878,411 620,987 1,941,286 5,066,321 Country Chile Chile Peru Peru Colombia Brazil Total 292292 One to two years 24,991 3,807 628 50,087 321,820 278,779 One to two years 25,059 7,247 632 51,881 394,102 349,956 Two to three years 24,991 628 60,314 270,759 393,232 Two to three years 25,059 3,555 632 54,694 338,555 374,265 - - - - Non-Current Non-Current Maturity Three to four years 24,991 628 56,162 238,759 312,535 Maturity Three to four years 25,059 632 65,866 283,029 503,825 Four to f ive years 24,991 628 50,510 247,208 106,090 Four to five years 25,059 632 61,329 173,072 360,895 More than five years 621,693 11,309 209,399 332,765 261,456 More than five years 646,809 11,948 283,798 535,052 463,679 Total Non-Current 12-31-2020 721,657 3,807 13,821 426,472 1,411,311 1,352,092 Total Non-Current 12-31-2019 747,045 10,802 14,476 517,568 1,723,810 2,052,620 - - - 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information- Summary of bank loans by currencies and maturities IN THOUSANDS OF U.S. DOLLARS – THUS$ Country Currency Nominal One to Three to Interest Rate three months twelve months Total Current 12-31-2020 One to two years Two to three years - 48,505 - 15,435 49,366 143,573 - 39,557 - 23,344 127 18,697 Non-Current Maturity Three to four years - - - 21,204 2,819 11,953 Four to five years More than five years - - - 10,775 - 10,476 - - - 334 - 22,414 Total Non-Current 12-31-2020 - 88,062 - 71,092 52,312 207,113 IN THOUSANDS OF U.S. DOLLARS – THUS$ Country Currency Nominal One to Three to Interest Rate three months twelve months Total Current 12-31-2019 485,308 691,987 1,177,295 256,879 81,725 35,976 21,251 22,748 418,579 One to two years - 23,080 8,228 322,374 39,125 Two to three years - - 3,875 49,552 129,934 Non-Current Maturity Three to four years - - 1,200 140 22,224 Four to five years More than five years - - 1,145 2,827 13,671 - - 1,439 - 37,964 Total Non-Current 12-31-2019 - 23,080 15,887 374,893 242,918 22,603 717,186 739,789 392,807 183,361 23,564 17,643 39,403 656,778 - Summary of secured and unsecured bonds by currency and maturity IN THOUSANDS OF U.S. DOLLARS – THUS$ Country Currency Nominal One to Three to Interest Rate three months twelve months Total Current 12-31-2020 One to two years 24,991 3,807 628 50,087 321,820 278,779 Non-Current Two to three years 24,991 Maturity Three to four years 24,991 Four to f ive years 24,991 More than five years 621,693 - - - - 628 60,314 270,759 393,232 628 56,162 238,759 312,535 628 50,510 247,208 106,090 11,309 209,399 332,765 261,456 Total Non-Current 12-31-2020 721,657 3,807 13,821 426,472 1,411,311 1,352,092 IN THOUSANDS OF U.S. DOLLARS – THUS$ Country Currency Nominal One to Three to Interest Rate three months twelve months Total Current 12-31-2019 265,404 443,209 708,613 680,112 749,924 633,075 429,427 1,436,622 3,929,160 One to two years 25,059 7,247 632 51,881 394,102 349,956 Two to three years 25,059 3,555 632 54,694 338,555 374,265 Non-Current Maturity Three to four years 25,059 Four to five years 25,059 More than five years 646,809 - - - 632 65,866 283,029 503,825 632 61,329 173,072 360,895 11,948 283,798 535,052 463,679 Total Non-Current 12-31-2019 747,045 10,802 14,476 517,568 1,723,810 2,052,620 130,405 764,365 894,770 828,877 796,760 878,411 620,987 1,941,286 5,066,321 Current Maturity 175,940 1,102 151 2,746 294,873 10,496 150,366 171,132 25,050 125,276 107,696 112,467 326,306 172,234 25,201 128,022 402,569 122,963 Current Maturity 2,859 235 2,221 6,217 11,071 350,952 704 34,131 298,443 32,956 353,811 939 36,352 304,660 44,027 Current Maturity 6,248 172 157 5,292 236,187 17,348 18,743 7,482 471 42,218 138,040 236,255 Current Maturity 6,265 340 305 6,444 28,377 88,674 18,794 7,080 10,768 57,879 182,656 487,188 24,991 7,654 628 47,510 374,227 253,603 25,059 7,420 11,073 64,323 211,033 575,862 0.94% 2.71% 2.59% 3.62% 2.91% 3.80% 3.33% 4.10% 5.61% 4.40% 6.56% 5.30% 5.75% 6.34% 6.24% 5.74% 5.94% 5.30% 5.75% 6.06% 6.31% 7.18% 7.34% Colombia Chile Peru Peru Brazil Brazil Total Colombia Chile Peru Brazil Brazil Total Chile Chile Peru Peru Colombia Brazil Total Chile Chile Peru Peru Colombia Brazil Total US$ PEN US$ COP US$ BRL US$ PEN COP US$ BRL US$ UF US$ PEN COP BRL US$ UF US$ PEN COP BRL 293 Annual Report Enel Américas 2020- Summary of lease obligations by currency and maturity IN THOUSANDS OF U.S. DOLLARS – THUS$ Country Argentina Colombia Brazil Total Currency US$ COP BRL IN THOUSANDS OF U.S. DOLLARS – THUS$ Country Argentina Brazil Total Currency US$ BRL Current Maturity Nominal Interest Rate 0.25% 0.32% 7.19% One to three months 1,946 94 58,113 Three to twelve months 4,296 - 34,017 Total Current 12-31-2020 6,242 94 92,130 One to two years 3,781 - 56,158 Two to three years 4,374 - 44,720 Non-Current Maturity Three to four years 7,494 - 37,124 Four to five years 7,494 - 11,104 More than five years 18,590 Total Non-Current 12-31-2020 41,733 - 4,796 - 153,902 60,153 38,313 98,466 59,939 49,094 44,618 18,598 23,386 195,635 Current Maturity Nominal Interest Rate 0.25% 7.54% One to three months 1,195 9,081 Three to twelve months 6,339 27,222 Total Current 12-31-2019 7,534 36,303 One to two years 5,340 30,630 Two to three years 5,175 28,683 Non-Current Maturity Three to four years 5,383 17,293 Four to f ive years 4,770 3,711 More than five years 21,881 9,943 Total Non-Current 12-31-2019 42,549 90,260 10,276 33,561 43,837 35,970 33,858 22,676 8,481 31,824 132,809 NOTE 21. Lease liabilities As of December 31, 2020, and 2019, the balance of lease liabilities is as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Lease liability Lease liability Total Current Non-Current Current Non-Current 12-31-2020 12-31-2019 51.495 91.070 81.644 108.625 51.495 91.070 81.644 108.625 294294 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationCurrent Maturity Nominal One to Three to Interest Rate three months twelve months Total Current 12-31-2020 0.25% 0.32% 7.19% 1,946 94 58,113 4,296 - 34,017 6,242 94 92,130 One to two years 3,781 - 56,158 Two to three years 4,374 - 44,720 Non-Current Maturity Three to four years 7,494 - 37,124 Four to five years 7,494 - 11,104 More than five years 18,590 Total Non-Current 12-31-2020 41,733 - 4,796 - 153,902 60,153 38,313 98,466 59,939 49,094 44,618 18,598 23,386 195,635 Current Maturity Nominal One to Three to Interest Rate three months twelve months 0.25% 7.54% 1,195 9,081 6,339 27,222 Total Current 12-31-2019 7,534 36,303 One to two years 5,340 30,630 Two to three years 5,175 28,683 Non-Current Maturity Three to four years 5,383 17,293 Four to f ive years 4,770 3,711 More than five years 21,881 9,943 Total Non-Current 12-31-2019 42,549 90,260 10,276 33,561 43,837 35,970 33,858 22,676 8,481 31,824 132,809 - Summary of lease obligations by currency and maturity IN THOUSANDS OF U.S. DOLLARS – THUS$ IN THOUSANDS OF U.S. DOLLARS – THUS$ Currency US$ COP BRL Currency US$ BRL Country Argentina Colombia Brazil Total Country Argentina Brazil Total Lease liability Lease liability Total NOTE 21. Lease liabilities As of December 31, 2020, and 2019, the balance of lease liabilities is as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Current Non-Current Current Non-Current 12-31-2020 12-31-2019 51.495 91.070 81.644 108.625 51.495 91.070 81.644 108.625 295 Annual Report Enel Américas 202021.1 Individualization of Lease Liabilities Taxpayer ID No. Foreign Foreign Foreign Foreign Foreign Company MAREAUTO COLOMBIA SAS TRANSPORTES ESPECIALES ALIADOS S.A.S PATRIMONIOS AUTONOMOS FIDUCIARIA BO ANA MARIA RESTREPO PEREA MARIA VICTORIA RESTREPO DE MARTINEZ Effective Interest Country Currency Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Rate Maturity 12.94% Monthly 12.50% Monthly 7.44% Monthly 7.44% Monthly 7.44% Monthly Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign LONDONO DE ARENAS MARIA DEL PILAR MARTINEZ ISAACS ROBERTO EDUARDO PATRIMONIOS AUTONOMOS FIDUCIARIA BO PATRIMONIOS AUTONOMOS FIDUCIARIA BO PATRIMONIOS AUTONOMOS FIDUCIARIA BO CALDWELL MANAGEMENT SAS CASTRO OCHOA LUIS ANTONIO SITUANDO LTDA JULIO ALBERTO FLECHAS VEGA PAEZ RUIZ Y ASOCIADOS LTDA ACCI S.A.S SITUANDO LTDA CONSTRUCCIONES E INVERSIONES CANALES ANDRADE Y CIA SAS MERCURIO CENTRO COMERCIAL MUNOZ HERMANOS FYN Y COMPAN A SAS MUNOZ HERMANOS FYN Y COMPAN A SAS E Y D Y COMPAÑIA S.C INTERCOLOMBIA S.A. E.S.P. C.I. ALLIANCE S.A. TERRAPUERTO SAS COMPAÑIA GENERAL DE MINISTERIO DEFENSA NAL EJERCITO NAC NEARDENTAL SAS TRANSPORTES ESPECIALES FSG ALD AUTOMOTIVE ALD AUTOMOTIVE ALD AUTOMOTIVE ALD AUTOMOTIVE ALD AUTOMOTIVE ALD AUTOMOTIVE ALD AUTOMOTIVE ALD AUTOMOTIVE ALD AUTOMOTIVE ALD AUTOMOTIVE ALD AUTOMOTIVE ALD AUTOMOTIVE AMERICAS BUSINESS PROCESS SERVICES AMERICAS BUSINESS PROCESS SERVICES BANCO INTERBANK DEL PERU BANCO INTERBANK DEL PERU BANCO CONTINENTAL BANCO CONTINENTAL BUILDINGINMUEBLES PANAMERICANA S.A. BUILDINGMZ-INMOBILIARIA & DESARROLLADORA S.A. RENTAEQUIPOS LEASING PERU S.A. CORP MG SOVI INVERSIONES S.A.C. SCOTIABANK PERU BANCO DE CREDITO DEL PERU BBVA CONTINENTAL RENTING S.A.C. AVIS MAREAUTO COLOMBIA S.A.S COMPAÑÍA NAVIERA DEL GUAVIO LTDA. PATRIMONIOS AUTONOMOS TRANSPORTES ESPECIALES FSG CALDWELL MANAGEMENT SAS Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP PEN Peru PEN Peru PEN Peru PEN Peru PEN Peru PEN Peru US$ Peru US$ Peru US$ Peru US$ Peru US$ Peru US$ Peru Peru PEN Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP 7.44% Monthly 7.44% Monthly 7.44% Monthly 7.93% Monthly 4.20% Monthly 7.56% Monthly 7.71% Monthly 7.56% Monthly 7.44% Monthly 7.60% Monthly 7.99% Monthly 4.20% Monthly 7.80% Monthly 7.57% Monthly 7.57% Monthly 7.87% Monthly 7.87% Monthly 4.20% Monthly 7.88% Monthly 7.50% Monthly 7.50% Monthly 7.50% Monthly 7.72% Monthly 7.40% Monthly 7.10% Monthly 9.25% Monthly 9.25% Monthly 9.25% Monthly 9.25% Monthly 9.25% Monthly 9.25% Monthly 9.25% Monthly 9.25% Monthly 9.25% Monthly 9.25% Monthly 9.25% Monthly 9.25% Monthly 7.59% Monthly 7.59% Monthly 6.24% Quarterly 5.54% Quarterly 4.37% Quarterly 1.61% Quarterly 5.19% Monthly 4.65% Monthly 4.70% Monthly 2.27% Monthly 3.19% Monthly 3.70% Quarterly 3.63% Quarterly 2.84% Quarterly 7.57% Monthly 7.47% Monthly 5.72% Monthly 7.93% Monthly 7.10% Monthly 7.56% Monthly Country Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Colombia Colombia Colombia Colombia Colombia Current Non-Current One to two 12-31-2020 Two to years three years Less than 90 days More than 90 days Total Current Three to four years Four to five years More than five years Total Non- Current 129 102 68 75 82 19 19 15 5 24 54 12 37 7 15 51 21 14 26 1 6 6 2 13 95 67 57 95 16 7 1 2 3 2 2 2 2 2 2 2 1 2 9 22 617 99 1,758 - 54 11 26 1 22 2,418 627 - 8 8 52 69 208 55 10 130 - 46 46 34 11 - 304 240 109 - 12 21 45 32 - 9 52 3 18 17 5 15 224 113 107 56 - 17 3 4 6 4 4 4 3 4 4 4 3 4 23 60 1,863 298 5,328 95 164 - 75 766 102 7,268 628 1,432 11 6 156 164 632 112 78 205 82 65 65 49 16 24 433 342 163 12 49 28 60 83 21 23 78 4 24 23 7 28 319 180 164 151 16 24 4 6 9 6 6 6 5 6 6 6 4 6 32 82 2,480 397 7,086 95 218 11 101 767 124 9,686 1,255 1,432 19 14 208 233 840 167 - - - - - - - - - - - - - - - - - - - - - 2 4 5 9 6 5 5 5 6 6 6 4 6 - - 26 24 5 26 254 178 152 51 2,620 311 7,374 382 229 - 107 1,697 93 2,397 1,463 - - - - - 72 72 - - - - - - - - - - - - - - - - - - - - - - - 5 6 6 6 6 5 6 6 6 4 6 - - - - - - - - - - - - - - 28 26 - 28 273 192 163 106 1,893 95 240 1,697 93 - - - - - - - - - - - - - - - - - - - - - - - - - - 5 6 6 6 6 5 6 6 6 4 6 - - - - - - - - - - - - - - - - - 30 294 206 176 33 316 221 189 942 4,802 3,368 2,904 10 10 253 87 1,697 46 1,697 7,777 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 51 - 2 14 17 29 18 17 17 15 18 18 18 12 18 - - 54 50 5 1,059 5,939 4,165 3,584 2,620 417 9,267 477 809 - 107 14,565 232 2,397 1,463 - - - - - 72 72 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - IN THOUSANDS OF U.S. DOLLARS – THUS$ Taxpayer ID No. Foreign Foreign Foreign Foreign Foreign Company Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Generación Piura S.A. Enel Generación Piura S.A. Enel Generación Piura S.A. Enel Generación Piura S.A. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign 296296 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information21.1 Individualization of Lease Liabilities IN THOUSANDS OF U.S. DOLLARS – THUS$ Taxpayer Company Taxpayer ID Country Currency Rate Maturity Effective Interest Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa ID No. Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Generación Piura S.A. Enel Generación Piura S.A. Enel Generación Piura S.A. Enel Generación Piura S.A. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Country Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Colombia Colombia Colombia Colombia Colombia No. Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Company MAREAUTO COLOMBIA SAS TRANSPORTES ESPECIALES ALIADOS S.A.S PATRIMONIOS AUTONOMOS FIDUCIARIA BO ANA MARIA RESTREPO PEREA MARIA VICTORIA RESTREPO DE MARTINEZ LONDONO DE ARENAS MARIA DEL PILAR MARTINEZ ISAACS ROBERTO EDUARDO PATRIMONIOS AUTONOMOS FIDUCIARIA BO PATRIMONIOS AUTONOMOS FIDUCIARIA BO PATRIMONIOS AUTONOMOS FIDUCIARIA BO CALDWELL MANAGEMENT SAS CASTRO OCHOA LUIS ANTONIO SITUANDO LTDA JULIO ALBERTO FLECHAS VEGA PAEZ RUIZ Y ASOCIADOS LTDA ACCI S.A.S SITUANDO LTDA CONSTRUCCIONES E INVERSIONES CANALES ANDRADE Y CIA SAS MERCURIO CENTRO COMERCIAL MUNOZ HERMANOS FYN Y COMPAN A SAS MUNOZ HERMANOS FYN Y COMPAN A SAS E Y D Y COMPAÑIA S.C INTERCOLOMBIA S.A. E.S.P. C.I. ALLIANCE S.A. TERRAPUERTO SAS COMPAÑIA GENERAL DE MINISTERIO DEFENSA NAL EJERCITO NAC NEARDENTAL SAS TRANSPORTES ESPECIALES FSG ALD AUTOMOTIVE ALD AUTOMOTIVE ALD AUTOMOTIVE ALD AUTOMOTIVE ALD AUTOMOTIVE ALD AUTOMOTIVE ALD AUTOMOTIVE ALD AUTOMOTIVE ALD AUTOMOTIVE ALD AUTOMOTIVE ALD AUTOMOTIVE ALD AUTOMOTIVE AMERICAS BUSINESS PROCESS SERVICES AMERICAS BUSINESS PROCESS SERVICES BANCO INTERBANK DEL PERU BANCO INTERBANK DEL PERU BANCO CONTINENTAL BANCO CONTINENTAL BUILDINGINMUEBLES PANAMERICANA S.A. BUILDINGMZ-INMOBILIARIA & DESARROLLADORA S.A. RENTAEQUIPOS LEASING PERU S.A. CORP MG SOVI INVERSIONES S.A.C. SCOTIABANK PERU BANCO DE CREDITO DEL PERU BBVA CONTINENTAL RENTING S.A.C. AVIS MAREAUTO COLOMBIA S.A.S COMPAÑÍA NAVIERA DEL GUAVIO LTDA. PATRIMONIOS AUTONOMOS TRANSPORTES ESPECIALES FSG CALDWELL MANAGEMENT SAS Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru PEN PEN PEN PEN PEN PEN US$ US$ US$ US$ US$ US$ PEN Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP 12.94% Monthly 12.50% Monthly 7.44% Monthly 7.44% Monthly 7.44% Monthly 7.44% Monthly 7.44% Monthly 7.44% Monthly 7.93% Monthly 4.20% Monthly 7.56% Monthly 7.71% Monthly 7.56% Monthly 7.44% Monthly 7.60% Monthly 7.99% Monthly 4.20% Monthly 7.80% Monthly 7.57% Monthly 7.57% Monthly 7.87% Monthly 7.87% Monthly 4.20% Monthly 7.88% Monthly 7.50% Monthly 7.50% Monthly 7.50% Monthly 7.72% Monthly 7.40% Monthly 7.10% Monthly 9.25% Monthly 9.25% Monthly 9.25% Monthly 9.25% Monthly 9.25% Monthly 9.25% Monthly 9.25% Monthly 9.25% Monthly 9.25% Monthly 9.25% Monthly 9.25% Monthly 9.25% Monthly 7.59% Monthly 7.59% Monthly 6.24% Quarterly 5.54% Quarterly 4.37% Quarterly 1.61% Quarterly 5.19% Monthly 4.65% Monthly 4.70% Monthly 2.27% Monthly 3.19% Monthly 3.70% Quarterly 3.63% Quarterly 2.84% Quarterly 7.57% Monthly 7.47% Monthly 5.72% Monthly 7.93% Monthly 7.10% Monthly 7.56% Monthly Current Less than 90 days 68 75 82 19 19 More than 90 days 10 130 - 46 46 Non-Current One to two years - - - - - Total Current 78 205 82 65 65 12-31-2020 Two to three years - - - - - Three to four years - - - - - Four to five years - - - - - More than five years - - - - - Total Non- Current - - - - - 15 5 24 129 102 54 12 37 7 15 51 21 14 26 1 6 6 2 13 95 67 57 95 16 7 1 2 3 2 2 2 2 2 2 2 1 2 9 22 617 99 1,758 - 54 11 26 1 22 2,418 627 - 8 8 52 69 208 55 34 11 - 304 240 109 - 12 21 45 32 - 9 52 3 18 17 5 15 224 113 107 56 - 17 3 4 6 4 4 4 3 4 4 4 3 4 23 60 1,863 298 5,328 95 164 - 75 766 102 7,268 628 1,432 11 6 156 164 632 112 49 16 24 433 342 163 12 49 28 60 83 21 23 78 4 24 23 7 28 319 180 164 151 16 24 4 6 9 6 6 6 5 6 6 6 4 6 32 82 2,480 397 7,086 95 218 11 101 767 124 9,686 1,255 1,432 19 14 208 233 840 167 - - - - - - - - - - - - - - - 26 24 5 26 254 178 152 51 - 2 4 5 9 6 5 5 5 6 6 6 4 6 - - 2,620 311 7,374 382 229 - 107 1,697 93 2,397 - 1,463 - - 72 - 72 - - - - - - - - - - - - - - - - 28 26 - 28 273 192 163 - - - 5 6 10 6 6 6 5 6 6 6 4 6 - - - 106 1,893 95 240 - - 1,697 93 - - - - - - - - - - - - - - - - - - - - - - - - - - - 30 294 206 176 - - - 5 6 10 6 6 6 5 6 6 6 4 6 - - - - - - 253 - - 1,697 46 - - - - - - - - - - - - - - - - - - - - - - - - - - - 33 316 221 189 - - - - - - - - - - - - - - - - - - - - - 87 - - 1,697 - - - - - - - - - - - - - - - - - - - - - - - - - - - - 942 4,802 3,368 2,904 - - - - - - - - - - - - - - - - - - - - - - - - 7,777 - - - - - - - - - - - - - - - - - - - - - - - - - 54 50 5 1,059 5,939 4,165 3,584 51 - 2 14 17 29 18 17 17 15 18 18 18 12 18 - - 2,620 417 9,267 477 809 - 107 14,565 232 2,397 - 1,463 - - 72 - 72 - 297 Annual Report Enel Américas 202021.1 Individualization of Lease Liabilities, continued Country Colombia Colombia Colombia Colombia Colombia Colombia Colombia Taxpayer ID No. Foreign Foreign Foreign Foreign Foreign Foreign Foreign Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Peru Peru Peru Peru Peru Peru Peru Brazil Brazil Brazil Brazil Brazil Brazil Brazil Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Company AVIS Mareauto Colombia S.A.S AVIS MAREAUTO COLOMBIA S.A.S NEARDENTAL S.A.S GESTIÓN INMOBILIARIA MIC S.A.S EMPRESA INMOBILIARIA DE CUNDINAMARCA PAOLA ANDREA LONDOÑO ALD AUTOMOTIVE CASTELLO BRANCO OFFICE PARK - FUNDO DE INVESTIMENTO IMOBILIÁRIO (50%) / CSHG REAL ESTATE - FUNDO DE INVESTIMENTO IMOBILIÁRIO (50%) MICHEL ESPER SAAD JUNIOR / SELMA MICHEL SAAD / DORA SAAD SIFONT - COMÉRCIO DE PRODUTOS ADESIVOS LTDA - PPE / DAISAN CONSULTORIA E NEGÓCIOS IMOBILIÁRIOS LTDA GABRIEL CHUCAIR / SANDRA REGINA MARQUES PEREIRA CHUCAIR / EDUARDO CHUCAIR / MAURÍCIO CHUCAIR JOAQUIM VICENTE MARTINS / MARIA FERNANDA DOS SANTOS MARTINS DINARTEK ADMINISTRAÇÃO E PARTICIPAÇÃO LUIZ ROBERTO GIL CONSULTORIA RECOLOR MERCANTIL LTDA FADL IBRAHIM MADJOUB / WADAD ABDUL MANDJOUB ROGERIO PEREIRA DA SILVA / SIMONE DA SILVA CONSTRUTORA AVILA DE AZEVEDO EIRELI FABIO HIROYUKI OGAWA / MÔNICA HITOMI KONDO SERGIO PEREIRA LEITE JOSÉ CARLOS RIBEIRO / ANA CLÁUDIA LAPORTE RIBEIRO M.O. INCORPORAÇÕES & PARTICIPAÇÕES LTDA. EMILIANA RIBEIRO / SUZANA APARECIDA RIBEIRO / VICTOR JESUS RIBEIRO / JOSEPH AUGUSTO RIBEIRO LOURIVAL ASSUNÇÃO DE ABREU DHL LOGISTICS LTDA JSL LOCAÇÕES LTDA CSC COMPUTER SCIENCES BRASIL S.A. DIRCE GONÇALVES GOMES FRANCISCO FREXOSO SALAZAR DARCIO ANTONIO LEARDINI / RITA DE CASSIA PONTIERI LEARDINI / VINICIUS LEARDINI / PATRICIA LEARDINI SOUZA / MURILO LEARDINI JOSÉ HENRIQUE DOS SANTOS SOUSA / JOSÉ ANTUNES GOMES DE SOUSA MARIA ANGELA RODRIGUES LODO MOTA HONÓRIO PEREIRA DOMINGUES EDNEIA DE SOUZA SOARES MADALENA OLIVEIRA DA SILVA / RENAN OLIVEIRA SILVA / SULIVAN OLIVEIRA SILVA ADAQUIR PRISCO NEWTON PEREIRA DA SILVA DALMAS PARTICIPAÇÕES LTDA. ACG PROJETOS & DECORAÇÕES LTDA ADA MARIA VASONE / OLGA MARIA VASONE DE CASTRO CONDE / PATRICIA MARIA VASONE SPINGOLA / ARMANDO VASONE FILHO FUNDAÇÃO PADRE ANCHIETA - CENTRO PAULISTA DE RÁDIO TV EDUCATIVAS RUJO CONSTRUÇÕES E EMPREENDIMENTOS IMOBILIÁRIOS LTDA TIVIT TERCEIRIZAÇÃO DE PROCESSOS, SERVIÇOS E TECNOLOGIA S.A. FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS ITAPOAM ADMINISTRADORA DE BENS LTDA JSL MAESTRO VAMOS DHL AGASUS BBVA BBVA RENTAEQUIPOS LEASING PERU S.A. ELIAS MARCELO LAOS HUAMAN RENTING S.A.C. RENTAEQUIPOS LEASING PERU S.A. RENTAEQUIPOS LEASING PERU S.A. FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS VINICOLA DO VALE DO SÃO FRANCISCO BM LOGÍSTICA S.A. VINICOLA DO VALE DO SÃO FRANCISCO LM TRANSPORTES INTERESTADUAIS SERVIÇOS E COMÉRCIO S.A. Effective Interest Country Currency Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Rate Maturity 13.30% Monthly 14.08% Monthly 7.40% Monthly 7.48% Monthly 6.90% Monthly 8.18% Monthly 9.25% Monthly Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Peru Peru Peru Peru Peru Peru Peru Brazil Brazil Brazil Brazil Brazil Brazil Brazil BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL US$ PEN US$ US$ PEN US$ US$ BRL BRL BRL EUR BRL BRL BRL 10.55% Monthly 6.66% Monthly 8.22% Monthly 2.42% Monthly 4.44% Monthly 4.44% Monthly 6.66% Monthly 5.37% Monthly 5.83% Monthly 5.83% Monthly 5.28% Monthly 3.33% Monthly 9.34% Monthly 4.92% Monthly 5.28% Monthly 3.33% Monthly 5.28% Monthly 10.32% Monthly 8.97% Monthly 8.97% Monthly 7.41% Monthly 7.41% Monthly 7.35% Monthly 6.93% Monthly 7.35% Monthly 7.41% Monthly 7.41% Monthly 7.35% Monthly 7.82% Monthly 6.93% Monthly 8.02% Monthly 11.25% Monthly 7.82% Monthly 7.82% Monthly 7.41% Monthly 8.93% Monthly 2.42% Monthly 5.83% Monthly 9.87% Monthly 9.45% Monthly 7.28% Monthly 7.28% Monthly 13.39% Monthly 6.57% Monthly 2.81% Quarterly 1.59% Quarterly 4.12% Monthly 2.23% Quarterly 5.45% Monthly 4.51% Monthly 2.23% Monthly 12.42% Monthly 10.93% Monthly 12.42% Monthly 9.31% Monthly 5.94% Monthly 13.11% Monthly 6.23% Monthly Current Non-Current One to two 12-31-2020 Two to years three years Less than 90 days More than 90 days Total Current Three to four years Four to five years More than five years Total Non- Current 1,040 160 1,662 235 1,851 2,046 2,461 70 76 20 266 242 5 - 7 2 13 3 106 622 75 22 11 28 18 9 18 13 11 85 6 28 10 3 3 3 1 1 3 2 7 7 1 1 1 1 1 2 2 5 3 9 121 11 776 527 85 67 133 202 69 505 1,228 2,233 - 3 6 2 7 - 12 9 15 15 10 38 - 17 1 - - 4 9 162 42 - 53 40 16 41 29 22 183 20 12 13 7 2 3 3 3 2 5 - - 3 2 2 2 2 3 5 9 6 18 127 22 - - 189 86 1,641 413 629 294 902 4,529 45 3 14 3 21 36 27 46 2 5 - - 22 1 7 2 17 12 268 64 11 81 58 25 59 42 33 10 5 6 4 4 5 7 268 6 28 30 19 20 4 3 3 3 3 5 7 14 9 27 248 33 776 527 274 153 2,869 546 831 363 1,407 6,762 45 6 20 5 28 48 36 61 17 15 38 - 2 6 - - - 3 209 1,515 226 60 - 12 - 23 28 40 31 6 - - 3 2 - 5 - - 4 3 3 3 4 5 7 28 17 19 153 124 2,368 13 8 26 181 32 - - 586 892 252 520 181 - - - - 26 802 31 22 38 3 - - 3 121 1,674 119 65 23 - 3 - 1 - - - - - - - - - - - - - - - - - 30 18 20 4 3 3 3 4 5 7 14 9 28 162 34 - - - 137 2,592 309 311 305 45 - - - - - - - - - 4 - - 3 28 18 11 11 - - - - - - - - - - - - - - - - - - - - - - - - 1 2 2 1 2 3 2 9 7 2 - - - - - - - - - - - - - - - - - - - - 4 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 4 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 371 138 2 358 9,547 345 291 - 12 - 46 28 43 31 2 7 - - - 3 6 - - 3 2 - 5 - - 9 8 8 7 508 76 46 50 10 13 16 36 24 56 343 84 - - 153 550 557 520 226 - - - - 26 31 22 38 386 138 - 8 14,107 895 1,203 18 151 2,836 138 3,104 3,207 362 362 802 802 802 3,674 6,882 IN THOUSANDS OF U.S. DOLLARS – THUS$ Taxpayer ID No. Foreign Foreign Foreign Foreign Foreign Foreign Foreign Company Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Foreign Foreign Enel Distribución Sao Paulo Enel Distribución Sao Paulo Foreign Enel Distribución Sao Paulo Foreign Enel Distribución Sao Paulo Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Foreign Enel Distribución Sao Paulo Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Foreign Enel Distribución Sao Paulo Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Generación Perú S.A. Enel Generación Perú S.A. Enel Generación Perú S.A. Enel Generación Perú S.A. Enel Generación Perú S.A. Enel Generación Perú S.A. Enel Generación Perú S.A. EGP Cachoeira Dourada S.A. ENEL BRASIL S.A. ENEL X BRASIL ENEL X BRASIL ENEL X BRASIL ENEL X BRASIL ENEL X BRASIL 298298 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationForeign Enel Distribución Sao Paulo Foreign CONSULTORIA E NEGÓCIOS IMOBILIÁRIOS LTDA Foreign Enel Distribución Sao Paulo Foreign EDUARDO CHUCAIR / MAURÍCIO CHUCAIR IN THOUSANDS OF U.S. DOLLARS – THUS$ Taxpayer ID No. Foreign Foreign Foreign Foreign Foreign Foreign Foreign Company Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Foreign Foreign Enel Distribución Sao Paulo Enel Distribución Sao Paulo Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Generación Perú S.A. Enel Generación Perú S.A. Enel Generación Perú S.A. Enel Generación Perú S.A. Enel Generación Perú S.A. Enel Generación Perú S.A. Enel Generación Perú S.A. EGP Cachoeira Dourada S.A. ENEL BRASIL S.A. ENEL X BRASIL ENEL X BRASIL ENEL X BRASIL ENEL X BRASIL ENEL X BRASIL No. Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Peru Peru Peru Peru Peru Peru Peru Brazil Brazil Brazil Brazil Brazil Brazil Brazil Taxpayer ID Country Colombia Colombia Colombia Colombia Colombia Colombia Colombia Company AVIS Mareauto Colombia S.A.S AVIS MAREAUTO COLOMBIA S.A.S NEARDENTAL S.A.S GESTIÓN INMOBILIARIA MIC S.A.S EMPRESA INMOBILIARIA DE CUNDINAMARCA PAOLA ANDREA LONDOÑO ALD AUTOMOTIVE Country Currency Rate Maturity Effective Interest Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP CASTELLO BRANCO OFFICE PARK - FUNDO DE INVESTIMENTO IMOBILIÁRIO (50%) / CSHG REAL ESTATE - FUNDO DE INVESTIMENTO IMOBILIÁRIO (50%) MICHEL ESPER SAAD JUNIOR / SELMA MICHEL SAAD / DORA SAAD SIFONT - COMÉRCIO DE PRODUTOS ADESIVOS LTDA - PPE / DAISAN GABRIEL CHUCAIR / SANDRA REGINA MARQUES PEREIRA CHUCAIR / JOAQUIM VICENTE MARTINS / MARIA FERNANDA DOS SANTOS MARTINS DINARTEK ADMINISTRAÇÃO E PARTICIPAÇÃO LUIZ ROBERTO GIL CONSULTORIA RECOLOR MERCANTIL LTDA FADL IBRAHIM MADJOUB / WADAD ABDUL MANDJOUB ROGERIO PEREIRA DA SILVA / SIMONE DA SILVA CONSTRUTORA AVILA DE AZEVEDO EIRELI FABIO HIROYUKI OGAWA / MÔNICA HITOMI KONDO SERGIO PEREIRA LEITE JOSÉ CARLOS RIBEIRO / ANA CLÁUDIA LAPORTE RIBEIRO M.O. INCORPORAÇÕES & PARTICIPAÇÕES LTDA. EMILIANA RIBEIRO / SUZANA APARECIDA RIBEIRO / VICTOR JESUS RIBEIRO / JOSEPH AUGUSTO RIBEIRO LOURIVAL ASSUNÇÃO DE ABREU DHL LOGISTICS LTDA JSL LOCAÇÕES LTDA CSC COMPUTER SCIENCES BRASIL S.A. DIRCE GONÇALVES GOMES FRANCISCO FREXOSO SALAZAR SOUSA MARIA ANGELA RODRIGUES LODO MOTA HONÓRIO PEREIRA DOMINGUES EDNEIA DE SOUZA SOARES OLIVEIRA SILVA ADAQUIR PRISCO NEWTON PEREIRA DA SILVA DALMAS PARTICIPAÇÕES LTDA. ACG PROJETOS & DECORAÇÕES LTDA MADALENA OLIVEIRA DA SILVA / RENAN OLIVEIRA SILVA / SULIVAN ADA MARIA VASONE / OLGA MARIA VASONE DE CASTRO CONDE / FUNDAÇÃO PADRE ANCHIETA - CENTRO PAULISTA DE RÁDIO TV EDUCATIVAS RUJO CONSTRUÇÕES E EMPREENDIMENTOS IMOBILIÁRIOS LTDA TIVIT TERCEIRIZAÇÃO DE PROCESSOS, SERVIÇOS E TECNOLOGIA S.A. FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS ITAPOAM ADMINISTRADORA DE BENS LTDA JSL MAESTRO VAMOS DHL AGASUS BBVA BBVA RENTAEQUIPOS LEASING PERU S.A. ELIAS MARCELO LAOS HUAMAN RENTING S.A.C. RENTAEQUIPOS LEASING PERU S.A. RENTAEQUIPOS LEASING PERU S.A. FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS VINICOLA DO VALE DO SÃO FRANCISCO BM LOGÍSTICA S.A. VINICOLA DO VALE DO SÃO FRANCISCO LM TRANSPORTES INTERESTADUAIS SERVIÇOS E COMÉRCIO S.A. Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Peru Peru Peru Peru Peru Peru Peru Brazil Brazil Brazil Brazil Brazil Brazil Brazil BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL US$ PEN US$ US$ PEN US$ US$ BRL BRL BRL EUR BRL BRL BRL 13.30% Monthly 14.08% Monthly 7.40% Monthly 7.48% Monthly 6.90% Monthly 8.18% Monthly 9.25% Monthly 10.55% Monthly 6.66% Monthly 8.22% Monthly 2.42% Monthly 4.44% Monthly 4.44% Monthly 6.66% Monthly 5.37% Monthly 5.83% Monthly 5.83% Monthly 5.28% Monthly 3.33% Monthly 9.34% Monthly 4.92% Monthly 5.28% Monthly 3.33% Monthly 5.28% Monthly 10.32% Monthly 8.97% Monthly 8.97% Monthly 7.41% Monthly 7.41% Monthly 6.93% Monthly 7.35% Monthly 7.41% Monthly 7.41% Monthly 7.35% Monthly 7.82% Monthly 6.93% Monthly 8.02% Monthly 11.25% Monthly 7.82% Monthly 7.82% Monthly 7.41% Monthly 8.93% Monthly 2.42% Monthly 5.83% Monthly 9.87% Monthly 9.45% Monthly 7.28% Monthly 7.28% Monthly 13.39% Monthly 6.57% Monthly 2.81% Quarterly 1.59% Quarterly 4.12% Monthly 2.23% Quarterly 5.45% Monthly 4.51% Monthly 2.23% Monthly 12.42% Monthly 10.93% Monthly 12.42% Monthly 9.31% Monthly 5.94% Monthly 13.11% Monthly 6.23% Monthly Foreign Enel Distribución Sao Paulo Foreign VINICIUS LEARDINI / PATRICIA LEARDINI SOUZA / MURILO LEARDINI Brazil 7.35% Monthly DARCIO ANTONIO LEARDINI / RITA DE CASSIA PONTIERI LEARDINI / JOSÉ HENRIQUE DOS SANTOS SOUSA / JOSÉ ANTUNES GOMES DE Foreign Enel Distribución Sao Paulo Foreign PATRICIA MARIA VASONE SPINGOLA / ARMANDO VASONE FILHO Current Less than 90 days 5 - 7 2 13 3 106 More than 90 days 17 1 - - 4 9 162 622 75 1,040 160 Non-Current One to two years 2 6 - - - 3 209 12-31-2020 Two to three years - 1 - - - - 121 1,515 226 1,674 119 Total Current 22 1 7 2 17 12 268 1,662 235 22 11 28 18 9 18 13 11 3 3 3 1 1 3 2 85 6 28 10 7 7 1 1 1 1 1 2 2 5 3 9 121 11 776 527 85 67 1,228 133 202 69 505 2,233 - 3 6 2 7 - 12 9 15 15 10 38 - 42 - 53 40 16 41 29 22 7 2 3 3 3 2 5 183 - - 20 12 13 3 2 2 2 2 3 5 9 6 18 127 22 - - 189 86 1,641 413 629 294 902 4,529 45 3 14 3 21 362 36 27 46 2 5 - - 64 11 81 58 25 59 42 33 10 5 6 4 4 5 7 268 6 28 30 19 20 4 3 3 3 3 5 7 14 9 27 248 33 776 527 274 153 2,869 546 831 363 1,407 6,762 45 6 20 5 28 362 48 36 61 17 15 38 - 60 - 12 - 23 28 40 31 6 - - 3 2 - 5 266 - - 28 17 19 4 3 3 3 4 5 7 13 8 26 181 32 - - 153 124 2,368 586 892 252 520 - 181 - - - 26 802 31 22 38 3 - - 3 65 - - - 23 - 3 - - - - - - - - 242 - - 30 18 20 4 3 3 3 4 5 7 14 9 28 162 34 - - - 137 2,592 309 311 305 - - 45 - - - - 802 - - - 4 - - 3 Three to four years - - - - - - 28 1,851 - 70 Four to five years - - - - - - - 2,046 - 76 More than five years - - - - - - - 2,461 - 20 Total Non- Current 2 7 - - - 3 358 9,547 345 291 - - - - - - - - - - - - - - - - - 18 11 11 1 2 2 1 2 3 2 9 7 2 - 18 - - - 151 2,836 - - - - - - - - - - 802 - - - 4 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 138 3,104 - - - - - - - - - - 802 - - - 4 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 3,207 - - - - - - - - - - 3,674 - - - 371 - 138 2 - 12 - 46 28 43 31 6 - - 3 2 - 5 508 - - 76 46 50 9 8 8 7 10 13 16 36 24 56 343 84 - - 153 550 14,107 895 1,203 557 520 - 226 - - - 26 6,882 31 22 38 386 - 138 8 299 Annual Report Enel Américas 202021.1 Individualization of Lease Liabilities, continued Company LOCALIZA RENT A CAR INTER EMPRENDIMENTOS IMOBILIARIOS L GABRIELA DA SILVA BRAGA MAIANA DE FÁTIMA BEZERRA PINHEIRO SJ ADMINISTRAÇÃO DE IMÓVEIS VALTER FURTADO ADVOGADOS ASSOCIADOS CARLOS NILBERTO LIMA VENANCIO FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS UNIMÓVEIS ELUÍSIO SOARES DA SILVA FRANCISCO FELIPE DE SOUSA F OLIVEIRA CORRETOR FRANCISCO DE ASSIS ROCHA RODRIGUES MADELINE CORDEIRO CAVALCANTE MARIA OTACIANA NOGUEIRA CASTRO MARIA DAS GRACAS TIMBO D MARTINS FRANCISCO CANUTO LINS LUIZA MARTINS CAVALCANTI S.M. ALVES MOURA-ME BERTRANS BERTOTTI TRANSPORTES DE CARGAS SECAS CLAUDIO SEBASTIÃO DE LIMA SOLI EMPREENDIMENTOS E CONSTRUÇÕES LTDA EXPEDITO ARAGÃO PONTES FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS ELETROSUL CENTRAIS ELETRICAS S.A. VINÍCIUS ANJOS DE SOUZA MAURÍCIO MANHÃE DE LIMA MOACYR JOSÉ DA CRUZ PAULO ALBERTO SILVA DE ANDRADE JOSÉ CLAUDIO MACHADO OLIVER DA SILVA BARRETO MAURO JOSÉ RODRIGUES FELGA FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS MARILENE DAFLON JAPOR TORRES FUNDO DE INVESTIMENTO IMOBILIÁRIO PATRIMONIAL III LIGIA RIBEIRO GARCIA DE REZENDE LUIZ ANTONIO SIQUEIRA GONÇALVES CONSÓRCIO GDA SERVIÇOS DE TRANSPOR JOSUÉ COUTO DE OLIVEIRA ALOYSIO DOS SANTOS ERTHAL MIGUEL GUERREIRO MARTINS NITERÓI EMPRESA DE LAZER E TURISMO S/A LEONARDO CAMPOS JOÃO LOPES MEZAVILLA JUNIOR ALICE ALT BITTENCOURT JOÃO COELHO DE ALENCAR ISIDRO DA SILVA FERREIRA JOSÉ MARTINS FILHO AGNOS COMÉRCIO DE PARAF. LTDA LUSIA GOMES JESUS FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS ITA EMPRESA DE TRANSPORTES LTDA ITA EMPRESA DE TRANSPORTES LTDA RAMES ABRAHÃO BASÍLIO ANTÔNIO FRANCISCO DE MIRANDA ANTÔNIO SERGIO MACHADO SANT'ANA DINIZ & MOURA AGORPECUÁRIA LTDA. NERCI BERNARDO DA COSTA JOÃO FRANCISCO DOURADO FLÁVIO DE OLIVEIRA BRAGA EDIVALDO GODOI DA SILVA ADAIR DEODORO SILVA SELSSI GUEDES DOURADO ANA MARIA IANNACONI BORGES TEREZINHA DO CARMOS DE JESUS FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS SOCIEDAD DE HECHO ENTRE DEL TORO LEONARDO Y DEL TORO DOMINGO FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS Country Currency Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL Argentina ARS BRL Brazil BRL Brazil UF Chile Effective Interest Rate Maturity 7.41% Monthly 4.76% Monthly 2.42% Monthly 2.42% Monthly 9.67% Monthly 7.41% Monthly 10.01% Monthly 3.47% Monthly 10.93% Monthly 10.01% Monthly 10.01% Monthly 8.01% Monthly 6.93% Monthly 6.93% Monthly 8.31% Monthly 5.83% Monthly 7.75% Monthly 12.51% Monthly 6.48% Monthly 5.91% Monthly 4.44% Monthly 5.37% Monthly 5.83% Monthly 6.78% Monthly 4.66% Monthly 12.42% Monthly 6.50% Monthly 8.55% Monthly 5.30% Monthly 5.34% Monthly 10.01% Monthly 9.89% Monthly 9.67% Monthly 11.78% Monthly 3.47% Monthly 10.93% Monthly 4.76% Monthly 8.54% Monthly 10.32% Monthly 10.01% Monthly 8.97% Monthly 7.11% Monthly 7.30% Monthly 6.30% Monthly 12.94% Monthly 10.32% Monthly 9.44% Monthly 9.89% Monthly 9.44% Monthly 10.88% Monthly 8.55% Monthly 4.97% Monthly 4.66% Monthly 4.66% Monthly 5.73% Monthly 8.93% Monthly 5.81% Monthly 6.08% Monthly 9.10% Monthly 8.86% Monthly 9.34% Monthly 9.10% Monthly 11.25% Monthly 8.01% Monthly 7.30% Monthly 8.01% Monthly 9.84% Monthly 9.84% Monthly 9.84% Monthly 12.42% Monthly 0.62% Monthly 6.50% Monthly 7.67% Monthly 0.01% Monthly Current Less than 90 days More than 90 days Non-Current One to two 12-31-2020 Two to years three years Total Current - 15 Three to four years Four to five years More than five years 6 Total Non- Current 45 115 72 140 167 1,851 45 29 171 38 13 3 11 6 10 24 - 4 3 4 1 2 1 4 - 1 2 2 1 1 1 1 1 1 1 1 4 1 1 4 2 1 4 7 1 1 1 113 27 587 102 19 15 1 10 11 4 1 - 2 1 13 1 1 1 1 1 1 1 1 4 1 11 - 1 1 11 498 - 11 86 85 2 22 15 24 16 13 1 1 - 6 3 - 1 1 2 6 6 2 3 1 3 2 4 3 - 8 5 3 - 9 - 7 - 2 5 - 2 1 4 2 3 3 6 9 3 1 1 - - - - 2 2 - 3 3 5 2 3 2 4 2 34 78 1 2 8 81 167 4 5 1 8 4 5 1 3 8 8 3 4 2 4 3 5 256 3 60 4 13 11 16 21 34 40 17 4 1 13 140 665 1,851 113 108 754 102 19 9 3 9 7 3 2 5 17 4 13 17 13 4 1 3 1 13 3 3 4 4 6 3 4 3 8 3 45 78 2 3 19 28 22 13 - 415 717 - 6 - - - 9 - - - - 3 8 8 3 2 1 4 2 4 - - 4 - 7 4 - - 4 2 - 3 3 - - - 2 1 3 5 4 6 4 2 - - - - - - 4 2 - 4 4 7 3 5 3 6 3 65 29 45 11 - - 24 26 28 30 130 14 16 18 20 778 844 919 1,022 4,280 12 14 15 - - - - - - - - - - - 3 3 1 4 - 2 5 - - - - - - - - - - - - - - - - - - - - - 1 - 3 - 5 - 5 2 - - - - - - - 2 1 - - - 8 3 5 3 7 4 - - - - - - - - - - - - - - - - 2 - - 4 - 2 6 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 1 2 - - - - - - 4 - 5 - 16 6 12 13 11 22 11 37 17 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 81 - 415 6 6 - - - - - - - 11 72 11 19 18 26 2 19 30 28 2 4 - - 6 - 7 4 - - 4 2 - 3 5 - - - 5 1 35 10 29 6 94 36 65 10 6 - - - - - - 6 - 9 8 23 9 15 10 21 10 29 45 12 - - - - - - - 2 - - - - - 3 8 9 3 - 1 4 - - - - - 2 - - - - - - - - - - - 2 - - - 2 - 3 5 4 - 4 2 - - - - - - - 4 3 - 5 4 8 3 5 3 6 3 - - - 1 - Total 17,959 33,533 51,492 27,967 12,935 9,573 9,726 30,867 91,068 Foreign Foreign Foreign 96.800.570-7 COMPAÑIA DE LEASING TATTERSALL S A. IN THOUSANDS OF U.S. DOLLARS – THUS$ Taxpayer ID No. Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Company ENEL X BRASIL Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Cien S.A. Enel Cien S.A. Enel Cien S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Generación Fortaleza Country Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Taxpayer ID No. Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign 94.271.000-3 Enel Américas S.A. EDESUR Enel Green Power Volta Grande Enel Green Power Volta Grande Argentina Brazil Brazil Chile 300300 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationIN THOUSANDS OF U.S. DOLLARS – THUS$ Taxpayer Taxpayer ID Country No. Company Country Currency Rate Maturity Effective Interest Company ENEL X BRASIL Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Cien S.A. Enel Cien S.A. Enel Cien S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Generación Fortaleza ID No. Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign LOCALIZA RENT A CAR INTER EMPRENDIMENTOS IMOBILIARIOS L GABRIELA DA SILVA BRAGA MAIANA DE FÁTIMA BEZERRA PINHEIRO SJ ADMINISTRAÇÃO DE IMÓVEIS VALTER FURTADO ADVOGADOS ASSOCIADOS CARLOS NILBERTO LIMA VENANCIO FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS UNIMÓVEIS ELUÍSIO SOARES DA SILVA FRANCISCO FELIPE DE SOUSA F OLIVEIRA CORRETOR FRANCISCO DE ASSIS ROCHA RODRIGUES MADELINE CORDEIRO CAVALCANTE MARIA OTACIANA NOGUEIRA CASTRO MARIA DAS GRACAS TIMBO D MARTINS FRANCISCO CANUTO LINS LUIZA MARTINS CAVALCANTI S.M. ALVES MOURA-ME BERTRANS BERTOTTI TRANSPORTES DE CARGAS SECAS CLAUDIO SEBASTIÃO DE LIMA SOLI EMPREENDIMENTOS E CONSTRUÇÕES LTDA EXPEDITO ARAGÃO PONTES FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS ELETROSUL CENTRAIS ELETRICAS S.A. VINÍCIUS ANJOS DE SOUZA MAURÍCIO MANHÃE DE LIMA MOACYR JOSÉ DA CRUZ PAULO ALBERTO SILVA DE ANDRADE JOSÉ CLAUDIO MACHADO OLIVER DA SILVA BARRETO MAURO JOSÉ RODRIGUES FELGA FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS MARILENE DAFLON JAPOR TORRES FUNDO DE INVESTIMENTO IMOBILIÁRIO PATRIMONIAL III LIGIA RIBEIRO GARCIA DE REZENDE LUIZ ANTONIO SIQUEIRA GONÇALVES CONSÓRCIO GDA SERVIÇOS DE TRANSPOR JOSUÉ COUTO DE OLIVEIRA ALOYSIO DOS SANTOS ERTHAL MIGUEL GUERREIRO MARTINS NITERÓI EMPRESA DE LAZER E TURISMO S/A LEONARDO CAMPOS JOÃO LOPES MEZAVILLA JUNIOR ALICE ALT BITTENCOURT JOÃO COELHO DE ALENCAR ISIDRO DA SILVA FERREIRA JOSÉ MARTINS FILHO AGNOS COMÉRCIO DE PARAF. LTDA LUSIA GOMES JESUS FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS ITA EMPRESA DE TRANSPORTES LTDA ITA EMPRESA DE TRANSPORTES LTDA RAMES ABRAHÃO BASÍLIO ANTÔNIO FRANCISCO DE MIRANDA ANTÔNIO SERGIO MACHADO SANT'ANA DINIZ & MOURA AGORPECUÁRIA LTDA. NERCI BERNARDO DA COSTA JOÃO FRANCISCO DOURADO FLÁVIO DE OLIVEIRA BRAGA EDIVALDO GODOI DA SILVA ADAIR DEODORO SILVA SELSSI GUEDES DOURADO ANA MARIA IANNACONI BORGES TEREZINHA DO CARMOS DE JESUS Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Chile Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Chile BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL UF 7.41% Monthly 4.76% Monthly 2.42% Monthly 2.42% Monthly 9.67% Monthly 7.41% Monthly 10.01% Monthly 3.47% Monthly 10.93% Monthly 10.01% Monthly 10.01% Monthly 8.01% Monthly 6.93% Monthly 6.93% Monthly 8.31% Monthly 5.83% Monthly 7.75% Monthly 12.51% Monthly 6.48% Monthly 5.91% Monthly 4.44% Monthly 5.37% Monthly 5.83% Monthly 6.78% Monthly 4.66% Monthly 12.42% Monthly 6.50% Monthly 8.55% Monthly 5.30% Monthly 5.34% Monthly 10.01% Monthly 9.89% Monthly 9.67% Monthly 11.78% Monthly 3.47% Monthly 10.93% Monthly 4.76% Monthly 8.54% Monthly 10.32% Monthly 10.01% Monthly 8.97% Monthly 7.11% Monthly 7.30% Monthly 6.30% Monthly 12.94% Monthly 10.32% Monthly 9.44% Monthly 9.89% Monthly 9.44% Monthly 10.88% Monthly 8.55% Monthly 4.97% Monthly 4.66% Monthly 4.66% Monthly 5.73% Monthly 8.93% Monthly 5.81% Monthly 6.08% Monthly 9.10% Monthly 8.86% Monthly 9.34% Monthly 9.10% Monthly 11.25% Monthly 8.01% Monthly 7.30% Monthly 8.01% Monthly 9.84% Monthly 9.84% Monthly 9.84% Monthly 12.42% Monthly 0.62% Monthly 6.50% Monthly 7.67% Monthly 0.01% Monthly EDESUR Enel Green Power Volta Grande Enel Green Power Volta Grande Argentina DOMINGO Argentina ARS FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS SOCIEDAD DE HECHO ENTRE DEL TORO LEONARDO Y DEL TORO FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS 94.271.000-3 Enel Américas S.A. 96.800.570-7 COMPAÑIA DE LEASING TATTERSALL S A. Current Less than 90 days - 4 3 4 1 2 1 45 29 4 - 1 2 2 1 1 1 1 1 1 171 1 38 1 13 3 11 6 10 24 4 1 1 4 140 167 2 1,851 1 4 7 1 1 1 15 1 10 11 4 1 - 2 1 113 27 587 102 19 1 1 13 1 1 1 1 1 1 4 1 11 - 1 1 11 More than 90 days - 11 1 1 - 6 3 - 86 1 1 2 6 6 2 3 1 3 2 4 85 2 22 3 - 8 5 15 24 16 13 3 - 9 - 498 7 - 2 5 - 2 1 4 2 3 3 6 9 3 1 1 - - 81 167 - - 2 2 - 3 3 5 2 3 2 4 2 34 78 1 2 8 Non-Current One to two years - 6 - - - 9 - - 72 - - 3 8 8 3 2 1 4 2 4 - - 28 4 - 7 4 22 - - 4 2 - 13 - 415 3 717 3 - - - 2 1 3 5 4 6 12 4 2 - - - 65 - - - 4 2 - 4 4 7 3 5 3 6 3 29 45 - 11 - Total Current - 15 4 5 1 8 4 45 115 5 1 3 8 8 3 4 2 4 3 5 256 3 60 4 13 11 16 21 34 40 17 4 1 13 140 665 9 1,851 3 9 7 3 2 5 17 4 13 17 13 4 1 3 1 113 108 754 102 19 3 3 13 4 4 6 3 4 3 8 3 45 78 2 3 19 12-31-2020 Two to three years - - - - - 2 - - - - - 3 8 9 3 - 1 4 - - - - - 2 - - - 24 - - - - - 14 - - - 778 2 - - - 2 - 3 5 4 - 14 4 2 - - - - - - - 4 3 - 5 4 8 3 5 3 6 3 - - - 1 - Three to four years - - - - - - - - - - - 3 3 1 4 - 2 5 - - - - - - - - - 26 - - - - - 16 - - - 844 - - - - 1 - 3 - 5 - 15 5 2 - - - - - - - 2 1 - - - 8 3 5 3 7 4 - - - - - Four to five years - - - - - - - - - - - 2 - - 4 - 2 6 - - - - - - - - - 28 - - - - - 18 - - - 919 - - - - - - 4 - 5 - 16 6 - - - - - - - - - - - - - - - - 1 2 - - - - - - More than five years 6 - - - - - - - - - - - - - 12 - 13 11 - - - - - - - - - 30 - - - - - 20 - - - 1,022 - - - - - - 22 - 11 - 37 17 - - - - - - - - - - - - - - - - - - - - - - - - Total Non- Current 6 6 - - - 11 - - 72 - - 11 19 18 26 2 19 30 2 4 - - 28 6 - 7 4 130 - - 4 2 - 81 - 415 3 4,280 5 - - - 5 1 35 10 29 6 94 36 6 - - - 65 - - - 10 6 - 9 8 23 9 15 10 21 10 29 45 - 12 - Total 17,959 33,533 51,492 27,967 12,935 9,573 9,726 30,867 91,068 301 Annual Report Enel Américas 202021.1 Individualization of Lease Liabilities, continued Country Currency Rate Maturity Effective Interest Current Non-Current Less than 90 days More than 90 days Total Current One to two 12-31-2019 Two to years three years Three to four years Four to five years More than five years Total Non- Current Colombia COP 7.44% Monthly 118 356 Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP PEN Peru PEN Peru PEN Peru US$ Peru US$ Peru US$ Peru US$ Peru US$ Peru US$ Peru US$ Peru PEN Peru US$ Peru US$ Peru PEN Peru Peru US$ Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil BRL BRL BRL BRL BRL BRL BRL BRL BRL 7.44% Monthly 7.44% Monthly 7.44% Monthly 7.44% Monthly 7.44% Monthly 7.39% Monthly 7.71% Monthly 7.56% Monthly 7.44% Monthly 7.60% Monthly 7.99% Monthly 7.40% Monthly 7.80% Monthly 7.57% Monthly 7.57% Monthly 7.93% Monthly 7.87% Monthly 7.87% Monthly 7.56% Monthly 7.88% Monthly 7.72% Monthly 7.40% Monthly 7.59% Monthly 7.59% Monthly 7.10% Monthly 9.52% Monthly 12.09% Monthly 12.50% Monthly 6.24% Quarterly 5.54% Quarterly 4.37% Quarterly 5.19% Monthly 4.65% Monthly 4.35% Monthly 4.35% Monthly 5.05% Monthly 4.70% Monthly 5.68% Quarterly 5.58% Quarterly 3.70% Quarterly 3.63% Quarterly 7.57% Monthly 2.84% Quarterly 11.02% Monthly 11.02% Monthly 7.00% Monthly 8.00% Monthly 8.00% Monthly 7.00% Monthly 7.00% Monthly 7.00% Monthly 13.00% Monthly 13.00% Monthly 7.00% Monthly 10.55% Monthly 10.32% Monthly 10.10% Monthly 9.35% Monthly 4.01% Monthly 7.11% Monthly 9.35% Monthly 9.89% Monthly 4.01% Monthly 29 32 860 252 87 102 35 19 19 14 5 15 35 7 14 40 31 12 25 1 6 6 52 15 12 9 9 23 6 11 112 223 69 642 103 - 51 10 16 7 4 31 9 1 5 19 10 52 53 3 57 5 3 12 198 777 81 25 50 26 21 9 22 10 1,981 687 2,427 607 672 220 1,954 308 4,932 156 29 26 4 11 87 18,315 6,354 7,181 1,840 105 56 56 42 14 171 60 114 21 50 190 62 50 83 4 510 27 26 175 170 91 14 30 77 17 19 26 - 10 44 22 162 154 8 19 614 15 3 9 42 104 - 45 17 40 - 474 140 75 75 56 19 273 75 149 28 64 230 93 62 108 5 622 33 32 227 185 103 23 39 100 23 30 895 289 35 1 15 63 32 214 207 11 76 812 20 6 21 67 154 26 66 26 62 10 2,596 411 4,932 207 39 42 11 15 118 20,296 7,041 9,608 2,447 - - 2 2 2 1 - 62 84 - 52 151 - 48 68 3 431 24 23 142 25 49 - 28 74 23 - 92 214 2,692 431 6,801 217 10 16 129 - - - - 9,574 1,252 21 556 - 15 25 230 163 870 23 2 - - - 1,768 224 62 - - - - 64 58 - - - - - - - - - - - - - - - - 3 - - - - - - - - - - - - - - - - 49 163 52 465 44 42 - 27 39 2,857 339 7,085 228 16 97 2,394 568 1,955 247 75 2 - - 68 - - - - - 31 176 14 502 116 3,650 240 10 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 53 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 249 268 118 1,216 154 1,993 235 2,162 133 75 2,390 5,819 82 115 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 2 2 2 1 - 111 84 - 52 543 - 114 68 3 68 65 142 973 88 - 28 74 26 - 92 214 1,398 5,549 886 17,536 1,024 10 42 226 - - - - 11,968 1,252 1,124 21 - 15 25 865 163 945 25 2 - - - 14,094 604 402 - - - - 64 89 IN THOUSANDS OF U.S. DOLLARS – THUS$ Taxpayer ID No. Company Country Taxpayer ID No. Foreign Codensa Colombia Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Generación Piura S.A. Enel Generación Piura S.A. Enel Generación Piura S.A. Enel Generación Piura S.A. Enel Generación Piura S.A. Enel Generación Piura S.A. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Foreign Foreign Enel Distribución Sao Paulo Enel Distribución Sao Paulo Foreign Enel Distribución Sao Paulo Foreign Enel Distribución Sao Paulo Foreign Foreign Foreign Foreign Foreign Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Company INVERSIONES Y CONSTRUCCIONES 79 SAS (PAGADOR ALTERNO: FIDUBOGOTÁ GE) INVERSIONES Y CONSTRUCCIONES 79 SAS (PAGADOR ALTERNO: FIDUBOGOTÁ GE) ANA MARIA RESTREPO PEREA (33,33%) MARIA VICTORIA RESTREPO DE MARTINEZ (33,33%) LONDONO DE ARENAS MARIA DEL PILAR (25%) MARTINEZ ISAACS ROBERTO EDUARDO (8,34%) PATRIMONIOS AUTONOMOS FIDUCIARIA BOGOTA CASTRO OCHOA LUIS ANTONIO SITUANDO LTDA JULIO ALBERTO FLECHAS VEGA PAEZ RUIZ Y ASOCIADOS LTDA ACCI S.A.S SITUANDO LTDA CONSTRUCCIONES E INVERSIONES AMC S.A. CANALES ANDRADE Y CIA SAS MERCURIO CENTRO COMERCIAL PATRIMONIOS AUTONOMOS FIDUCIARIA BOGOTA MUNOZ HERMANOS FYN Y COMPANIA SAS MUNOZ HERMANOS FYN Y COMPANIA SAS CALDWELL MANAGEMENT SAS INTERCONEXIÓN ELÉCTRICA S.A. E.S.P. MINISTERIO DEFENSA NAL EJERCITO NAC NEARDENTAL S.A.S AMERICAS BUSINESS PROCESS SERVICES S.A AMERICAS BUSINESS PROCESS SERVICES S.A TRANSPORTES ESPECIALES FSG EQUIRENT S.A. MAREAUTO COLOMBIA SAS TRANSPORTES ESPECIALES ALIADOS S.A.S BANCO INTERBANK BANCO INTERBANK BANCO CONTINENTAL BUILDINGINMUEBLES PANAMERICANA S.A. BUILDINGMZ-INMOBILIARIA & DESARROLLADORA S.A. RENTAEQUIPOS LEASING PERU S.A. RENTAEQUIPOS LEASING PERU S.A. FM EDIFICACIONES RENTAEQUIPOS LEASING PERU S.A. BANCO DE CREDITO DEL PERU BANCO DE CREDITO DEL PERU SCOTIABANK PERU BANCO DE CREDITO DEL PERU RENTING SAC BBVA CONTINENTAL EQUIRENT S.A. MAREAUTO COLOMBIA S.A.S JAIRO ALBERTO BAQUERO PRADA PATRIMONIOS AUTONOMOS FIDUCIARIA BOGOTA CALDWELL MANAGEMENT SAS GESTIÓN INMOBILIARIA MIC S.A.S COMPAÑÍA NAVIERA DEL GUAVIO LTDA. TRANSPORTES ESPECIALES FSG AVIS MAREAUTO COLOMBIA S.A.S AVIS MAREAUTO COLOMBIA S.A.S NEARDENTAL S.A.S CASTELLO BRANCO OFFICE PARK - FUNDO DE INVESTIMENTO IMOBILIÁRIO (50%) / CSHG REAL ESTATE - FUNDO DE INVESTIMENTO IMOBILIÁRIO (50%) MICHEL ESPER SAAD JUNIOR / SELMA MICHEL SAAD / DORA SAAD SIFONT - COMÉRCIO DE PRODUTOS ADESIVOS LTDA - PPE / DAISAN CONSULTORIA E NEGÓCIOS IMOBILIÁRIOS LTDA GABRIEL CHUCAIR / SANDRA REGINA MARQUES PEREIRA CHUCAIR / EDUARDO CHUCAIR / MAURÍCIO CHUCAIR JOAQUIM VICENTE MARTINS / MARIA FERNANDA DOS SANTOS MARTINS DINARTEK ADMINISTRAÇÃO E PARTICIPAÇÃO LUIZ ROBERTO GIL CONSULTORIA RECOLOR MERCANTIL LTDA FADL IBRAHIM MADJOUB / WADAD ABDUL MANDJOUB 302302 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationIN THOUSANDS OF U.S. DOLLARS – THUS$ Taxpayer ID No. Company Taxpayer ID Country No. Company Country Currency Rate Maturity Effective Interest Current Non-Current Less than 90 days More than 90 days Total Current One to two years 12-31-2019 Two to three years Three to four years Four to five years More than five years Total Non- Current Foreign Codensa Colombia Foreign FIDUBOGOTÁ GE) Colombia COP 7.44% Monthly Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Codensa Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Distribución Perú S.A. Enel Generación Piura S.A. Enel Generación Piura S.A. Enel Generación Piura S.A. Enel Generación Piura S.A. Enel Generación Piura S.A. Enel Generación Piura S.A. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Emgesa S.A. E.S.P. Foreign Foreign Enel Distribución Sao Paulo Enel Distribución Sao Paulo Foreign Foreign Foreign Foreign Foreign Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Colombia Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign INVERSIONES Y CONSTRUCCIONES 79 SAS (PAGADOR ALTERNO: INVERSIONES Y CONSTRUCCIONES 79 SAS (PAGADOR ALTERNO: FIDUBOGOTÁ GE) ANA MARIA RESTREPO PEREA (33,33%) MARIA VICTORIA RESTREPO DE MARTINEZ (33,33%) LONDONO DE ARENAS MARIA DEL PILAR (25%) MARTINEZ ISAACS ROBERTO EDUARDO (8,34%) PATRIMONIOS AUTONOMOS FIDUCIARIA BOGOTA CASTRO OCHOA LUIS ANTONIO SITUANDO LTDA JULIO ALBERTO FLECHAS VEGA PAEZ RUIZ Y ASOCIADOS LTDA ACCI S.A.S SITUANDO LTDA CONSTRUCCIONES E INVERSIONES AMC S.A. CANALES ANDRADE Y CIA SAS MERCURIO CENTRO COMERCIAL PATRIMONIOS AUTONOMOS FIDUCIARIA BOGOTA MUNOZ HERMANOS FYN Y COMPANIA SAS MUNOZ HERMANOS FYN Y COMPANIA SAS CALDWELL MANAGEMENT SAS INTERCONEXIÓN ELÉCTRICA S.A. E.S.P. MINISTERIO DEFENSA NAL EJERCITO NAC NEARDENTAL S.A.S AMERICAS BUSINESS PROCESS SERVICES S.A AMERICAS BUSINESS PROCESS SERVICES S.A TRANSPORTES ESPECIALES FSG EQUIRENT S.A. MAREAUTO COLOMBIA SAS TRANSPORTES ESPECIALES ALIADOS S.A.S BANCO INTERBANK BANCO INTERBANK BANCO CONTINENTAL BUILDINGINMUEBLES PANAMERICANA S.A. BUILDINGMZ-INMOBILIARIA & DESARROLLADORA S.A. RENTAEQUIPOS LEASING PERU S.A. RENTAEQUIPOS LEASING PERU S.A. FM EDIFICACIONES RENTAEQUIPOS LEASING PERU S.A. BANCO DE CREDITO DEL PERU BANCO DE CREDITO DEL PERU SCOTIABANK PERU BANCO DE CREDITO DEL PERU RENTING SAC BBVA CONTINENTAL EQUIRENT S.A. MAREAUTO COLOMBIA S.A.S JAIRO ALBERTO BAQUERO PRADA PATRIMONIOS AUTONOMOS FIDUCIARIA BOGOTA CALDWELL MANAGEMENT SAS GESTIÓN INMOBILIARIA MIC S.A.S COMPAÑÍA NAVIERA DEL GUAVIO LTDA. TRANSPORTES ESPECIALES FSG AVIS MAREAUTO COLOMBIA S.A.S AVIS MAREAUTO COLOMBIA S.A.S NEARDENTAL S.A.S CASTELLO BRANCO OFFICE PARK - FUNDO DE INVESTIMENTO IMOBILIÁRIO (50%) / CSHG REAL ESTATE - FUNDO DE INVESTIMENTO IMOBILIÁRIO (50%) MICHEL ESPER SAAD JUNIOR / SELMA MICHEL SAAD / DORA SAAD SIFONT - COMÉRCIO DE PRODUTOS ADESIVOS LTDA - PPE / DAISAN GABRIEL CHUCAIR / SANDRA REGINA MARQUES PEREIRA CHUCAIR / JOAQUIM VICENTE MARTINS / MARIA FERNANDA DOS SANTOS MARTINS DINARTEK ADMINISTRAÇÃO E PARTICIPAÇÃO LUIZ ROBERTO GIL CONSULTORIA RECOLOR MERCANTIL LTDA FADL IBRAHIM MADJOUB / WADAD ABDUL MANDJOUB Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Colombia COP Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil PEN PEN PEN US$ US$ US$ US$ US$ US$ US$ PEN US$ US$ PEN US$ BRL BRL BRL BRL BRL BRL BRL BRL BRL 7.44% Monthly 7.44% Monthly 7.44% Monthly 7.44% Monthly 7.44% Monthly 7.39% Monthly 7.71% Monthly 7.56% Monthly 7.44% Monthly 7.60% Monthly 7.99% Monthly 7.40% Monthly 7.80% Monthly 7.57% Monthly 7.57% Monthly 7.93% Monthly 7.87% Monthly 7.87% Monthly 7.56% Monthly 7.88% Monthly 7.72% Monthly 7.40% Monthly 7.59% Monthly 7.59% Monthly 7.10% Monthly 9.52% Monthly 12.09% Monthly 12.50% Monthly 6.24% Quarterly 5.54% Quarterly 4.37% Quarterly 5.19% Monthly 4.65% Monthly 4.35% Monthly 4.35% Monthly 5.05% Monthly 4.70% Monthly 5.68% Quarterly 5.58% Quarterly 3.70% Quarterly 3.63% Quarterly 7.57% Monthly 2.84% Quarterly 11.02% Monthly 11.02% Monthly 7.00% Monthly 8.00% Monthly 8.00% Monthly 7.00% Monthly 7.00% Monthly 7.00% Monthly 13.00% Monthly 13.00% Monthly 7.00% Monthly 10.55% Monthly 10.32% Monthly 10.10% Monthly 9.35% Monthly 4.01% Monthly 7.11% Monthly 9.35% Monthly 9.89% Monthly 4.01% Monthly Foreign Enel Distribución Sao Paulo Foreign CONSULTORIA E NEGÓCIOS IMOBILIÁRIOS LTDA Foreign Enel Distribución Sao Paulo Foreign EDUARDO CHUCAIR / MAURÍCIO CHUCAIR 118 35 19 19 14 5 102 15 35 7 14 40 31 12 25 1 112 6 6 52 15 12 9 9 23 6 11 223 69 642 103 - 51 10 16 7 4 31 1,981 687 2,427 607 9 1 5 19 10 52 53 3 57 198 5 3 12 777 81 25 50 26 21 9 22 10 356 105 56 56 42 14 171 60 114 21 50 190 62 50 83 4 510 27 26 175 170 91 14 30 77 17 19 672 220 1,954 308 4,932 156 29 26 4 11 87 18,315 6,354 7,181 1,840 26 - 10 44 22 162 154 8 19 614 15 3 9 1,216 154 42 104 - 45 17 40 - 474 140 75 75 56 19 273 75 149 28 64 230 93 62 108 5 622 33 32 227 185 103 23 39 100 23 30 895 289 2,596 411 4,932 207 39 42 11 15 118 20,296 7,041 9,608 2,447 35 1 15 63 32 214 207 11 76 812 20 6 21 1,993 235 67 154 26 66 26 62 10 - - 2 2 2 1 - 62 84 - 52 151 - 48 68 3 431 24 23 142 25 49 - 28 74 23 - 92 214 2,692 431 6,801 217 10 - - 16 129 - - 9,574 1,252 21 556 - 15 25 230 163 2 - 870 23 - - 1,768 224 62 - - 64 - 58 - - - - - - - - 49 - - - 163 - 52 - - 465 44 42 - 27 39 - - - 3 - - - 2,857 339 7,085 228 - - - 16 97 - - 2,394 - - 568 - - - 249 - - - 75 2 - - 1,955 247 68 - - - - 31 - - - - - - - - - - - - 176 - 14 - - 502 - - - 29 - - - - - - - - - 116 3,650 240 - - - 10 - - - - - - - - - - 268 - - - - - - - 2,162 133 75 - - - - - - - - - - - - - - - - - 53 - - - - - - - - 32 - - - - - - - - - - - 252 - - - - - - - - - - - - - - 118 - - - - - - - 2,390 - 82 - - - - - - - - - - - - - - - - - - - - - - - - - - 860 - - - - - - - - - - - 87 - - - - - - - - - - - - - - - - - - - - - - 5,819 - 115 - - - - - - - - 2 2 2 1 - 111 84 - 52 543 - 114 68 3 1,398 68 65 142 973 88 - 28 74 26 - 92 214 5,549 886 17,536 1,024 10 - - 42 226 - - 11,968 1,252 21 1,124 - 15 25 865 163 2 - 945 25 - - 14,094 604 402 - - 64 - 89 - 303 Annual Report Enel Américas 202021.1 Individualization of Lease Liabilities, continued Country Currency Brazil Brazil Brazil Brazil Brazil Brazil Brazil BRL BRL BRL BRL BRL BRL BRL Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Company ROGERIO PEREIRA DA SILVA / SIMONE DA SILVA CONSTRUTORA AVILA DE AZEVEDO EIRELI FABIO HIROYUKI OGAWA / MÔNICA HITOMI KONDO FRANCISCO PERINE SERGIO PEREIRA LEITE JOSÉ CARLOS RIBEIRO / ANA CLÁUDIA LAPORTE RIBEIRO M.O. INCORPORAÇÕES & PARTICIPAÇÕES LTDA. EMILIANA RIBEIRO / SUZANA APARECIDA RIBEIRO / VICTOR JESUS RIBEIRO / JOSEPH AUGUSTO RIBEIRO LOURIVAL ASSUNÇÃO DE ABREU DHL LOGISTICS LTDA JSL LOCAÇÕES LTDA CSC COMPUTER SCIENCES BRASIL S.A. DIRCE GONÇALVES GOMES FRANCISCO FREXOSO SALAZAR DARCIO ANTONIO LEARDINI / RITA DE CASSIA PONTIERI LEARDINI / VINICIUS LEARDINI / PATRICIA LEARDINI SOUZA / MURILO LEARDINI JOSÉ HENRIQUE DOS SANTOS SOUSA / JOSÉ ANTUNES GOMES DE SOUSA MARIA ANGELA RODRIGUES LODO MOTA HONÓRIO PEREIRA DOMINGUES EDNEIA DE SOUZA SOARES MADALENA OLIVEIRA DA SILVA / RENAN OLIVEIRA SILVA / SULIVAN OLIVEIRA SILVA ADAQUIR PRISCO NEWTON PEREIRA DA SILVA DALMAS PARTICIPAÇÕES LTDA. ACG PROJETOS & DECORAÇÕES LTDA ADA MARIA VASONE / OLGA MARIA VASONE DE CASTRO CONDE / PATRICIA MARIA VASONE SPINGOLA / ARMANDO VASONE FILHO FUNDAÇÃO PADRE ANCHIETA - CENTRO PAULISTA DE RÁDIO TV Brazil EDUCATIVAS Brazil RUJO CONSTRUÇÕES E EMPREENDIMENTOS IMOBILIÁRIOS LTDA Brazil TIVIT TERCEIRIZAÇÃO DE PROCESSOS, SERVIÇOS E TECNOLOGIA S.A. Brazil FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE Brazil FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS Brazil ARVAL BRASIL LTDA. Brazil JSL S.A. Brazil JSL S.A. Brazil JSL S.A. Brazil JSL S.A. MAESTRO LOCADORA DE VEÍCULOS S.A. Brazil VAMOS LOCAÇÃO DE CAMINHÕES, MÁQUINAS E EQUIPAMENTOS LTDA Brazil Brazil DHL LOGISTICS LTDA Brazil AGASUS S.A. Peru BBVA Peru RENTAEQUIPOS LEASING PERU S.A. Peru RENTAEQUIPOS LEASING PERU S.A. Peru RENTAEQUIPOS LEASING PERU S.A. Peru RENTAEQUIPOS LEASING PERU S.A. Peru RENTAEQUIPOS LEASING PERU S.A. Peru ELIAS MARCELO LAOS HUAMAN Peru FM EDIFICACIONES Peru RENTING S.A.C. Peru RENTAEQUIPOS LEASING PERU S.A. Brazil FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE Brazil FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS Brazil FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE Brazil FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS Spain EL CORTE INGLES Brazil COLUNA IMOBILIÁRIA LTDA Brazil FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS Brazil PAULO ANDRADE DE SOUZA PINTO FILHO Brazil BM LOGÍSTICA S.A. Brazil VINICOLA DO VALE DO SÃO FRANCISCO Brazil PMINAS BRASIL CONSTRUÇÃO CIVIL E SE Brazil INTER EMPRENDIMENTOS IMOBILIARIOS L Brazil VALDERLI LIMA CARDOSO Brazil GABRIELA DA SILVA BRAGA Brazil MAIANA DE FÁTIMA BEZERRA PINHEIRO BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL US$ US$ US$ US$ US$ US$ US$ US$ PEN US$ BRL BRL BRL BRL EUR BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL Effective Interest Rate Maturity 4.01% Monthly 9.89% Monthly 9.34% Monthly 9.35% Monthly 9.34% Monthly 9.35% Monthly 9.89% Monthly 9.34% Monthly 9.89% Monthly 10.32% Monthly 8.97% Monthly 8.97% Monthly 11.25% Monthly 11.25% Monthly 11.25% Monthly 8.43% Monthly 11.25% Monthly 11.25% Monthly 8.43% Monthly 11.25% Monthly 11.25% Monthly 8.43% Monthly 11.25% Monthly 11.25% Monthly 8.43% Monthly 10.32% Monthly 11.25% Monthly 8.93% Monthly 9.35% Monthly 9.89% Monthly 4.65% Monthly 9.45% Monthly 9.45% Monthly 4.65% Monthly 9.45% Monthly 7.28% Monthly 7.28% Monthly 13.39% Monthly 6.57% Monthly 3.38% Quarterly 4.12% Monthly 4.12% Monthly 4.31% Monthly 4.11% Monthly 4.11% Monthly 2.23% Quarterly 4.83% Monthly 5.45% Monthly 4.51% Monthly 6.04% Monthly 6.30% Monthly 6.04% Monthly 6.30% Monthly 0.10% Monthly 9.35% Monthly 6.30% Monthly 6.08% Monthly 5.94% Monthly 13.11% Monthly 8.97% Monthly 7.11% Monthly 4.77% Monthly 5.57% Monthly 6.04% Monthly Current Non-Current Less than 90 days More than 90 days Total Current One to two 12-31-2019 Two to years three years Three to four years Four to five years More than five years Total Non- Current 343 313 104 13 157 11 6 5 3 2 2 4 2 1 3 2 6 1 1 1 1 1 2 2 5 4 10 71 13 33 98 1,216 647 1,310 408 33 52 383 421 78 353 - 10 3 2 2 4 6 3 2 8 1 12 10 79 5 87 10 13 13 23 26 9 2 6 10 214 432 18 11 12 - 7 5 3 9 2 3 6 5 9 3 2 2 2 2 4 5 9 7 20 137 20 2,728 157 338 - 1,423 458 31 55 497 757 390 1,475 1,269 18 9 4 1 8 19 10 7 23 3 8 23 55 - 6 22 30 29 13 - - 1 1 15 5 10 13 7 5 4 4 9 7 318 22 589 29 17 18 4 3 3 3 3 6 7 14 11 30 208 33 3,944 2,733 190 436 647 866 64 107 880 1,178 468 1,828 1,269 28 12 6 3 12 25 13 9 31 4 20 33 5 93 32 43 42 23 26 22 3 7 25 134 - 10 4 - 7 - 4 5 7 - - 4 3 3 3 3 5 7 311 26 17 18 13 10 29 199 30 630 489 - - 2,054 660 - 79 705 1,073 372 1,540 3,873 - 6 - - - 5 7 22 34 11 77 - - - - - - - 31 17 18 - - 7 - 6 - - - - 3 - 5 - - 5 3 3 4 4 6 8 29 19 20 - - - - - - - 5 - - 7 - - - - - - - 8 - - - 25 47 19 14 11 31 220 33 - - - 308 2,248 723 - 87 756 1,151 422 671 32 21 22 16 12 34 200 37 2,461 791 - 95 399 402 254 - - - - - - - - - - - 5 3 4 4 4 6 8 - - - - 3 - - - - - - - - - - - - - - - - - - - - - - - - - 20 13 12 2 2 2 1 2 3 3 10 9 3 20 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 178 - 16 4 - 7 - 7 5 12 967 - - 107 70 72 16 11 12 12 13 20 26 53 42 97 - 6 - - - 22 13 7 59 18 124 50 17 178 26 - - - - - - - - 7 619 120 630 797 - - - 15,629 4,756 625 1,860 2,626 1,048 2,211 3,873 2,693 866 104 6,173 1,716 260 Country Brazil Brazil Brazil Brazil Brazil Brazil Brazil Taxpayer ID No. Foreign Foreign Foreign Foreign Foreign Foreign Foreign Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign IN THOUSANDS OF U.S. DOLLARS – THUS$ Taxpayer ID No. Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Company Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Foreign Enel Distribución Sao Paulo Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Foreign Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Generación Perú S.A. Enel Generación Perú S.A. Enel Generación Perú S.A. Enel Generación Perú S.A. Enel Generación Perú S.A. Enel Generación Perú S.A. Enel Generación Perú S.A. Enel Generación Perú S.A. Enel Generación Perú S.A. Enel Generación Perú S.A. EGP Cachoeira Dourada S.A. EGP Cachoeira Dourada S.A. ENEL BRASIL S.A. ENEL BRASIL S.A. ENEL BRASIL S.A. ENEL BRASIL S.A. ENEL X BRASIL ENEL X BRASIL ENEL X BRASIL ENEL X BRASIL ENEL X BRASIL Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign 304304 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationForeign Enel Distribución Sao Paulo Foreign PATRICIA MARIA VASONE SPINGOLA / ARMANDO VASONE FILHO IN THOUSANDS OF U.S. DOLLARS – THUS$ Taxpayer Taxpayer ID Country No. Company Country Currency Rate Maturity Effective Interest Foreign Enel Distribución Sao Paulo Foreign VINICIUS LEARDINI / PATRICIA LEARDINI SOUZA / MURILO LEARDINI Brazil 11.25% Monthly DARCIO ANTONIO LEARDINI / RITA DE CASSIA PONTIERI LEARDINI / JOSÉ HENRIQUE DOS SANTOS SOUSA / JOSÉ ANTUNES GOMES DE ID No. Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Company Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Distribución Sao Paulo Enel Generación Perú S.A. Enel Generación Perú S.A. Enel Generación Perú S.A. Enel Generación Perú S.A. Enel Generación Perú S.A. Enel Generación Perú S.A. Enel Generación Perú S.A. Enel Generación Perú S.A. Enel Generación Perú S.A. Enel Generación Perú S.A. EGP Cachoeira Dourada S.A. EGP Cachoeira Dourada S.A. ENEL BRASIL S.A. ENEL BRASIL S.A. ENEL BRASIL S.A. ENEL BRASIL S.A. ENEL X BRASIL ENEL X BRASIL ENEL X BRASIL ENEL X BRASIL ENEL X BRASIL Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign ROGERIO PEREIRA DA SILVA / SIMONE DA SILVA CONSTRUTORA AVILA DE AZEVEDO EIRELI FABIO HIROYUKI OGAWA / MÔNICA HITOMI KONDO FRANCISCO PERINE SERGIO PEREIRA LEITE JOSÉ CARLOS RIBEIRO / ANA CLÁUDIA LAPORTE RIBEIRO M.O. INCORPORAÇÕES & PARTICIPAÇÕES LTDA. EMILIANA RIBEIRO / SUZANA APARECIDA RIBEIRO / VICTOR JESUS RIBEIRO / JOSEPH AUGUSTO RIBEIRO LOURIVAL ASSUNÇÃO DE ABREU DHL LOGISTICS LTDA JSL LOCAÇÕES LTDA CSC COMPUTER SCIENCES BRASIL S.A. DIRCE GONÇALVES GOMES FRANCISCO FREXOSO SALAZAR SOUSA MARIA ANGELA RODRIGUES LODO MOTA HONÓRIO PEREIRA DOMINGUES EDNEIA DE SOUZA SOARES OLIVEIRA SILVA ADAQUIR PRISCO NEWTON PEREIRA DA SILVA DALMAS PARTICIPAÇÕES LTDA. ACG PROJETOS & DECORAÇÕES LTDA MADALENA OLIVEIRA DA SILVA / RENAN OLIVEIRA SILVA / SULIVAN ADA MARIA VASONE / OLGA MARIA VASONE DE CASTRO CONDE / FUNDAÇÃO PADRE ANCHIETA - CENTRO PAULISTA DE RÁDIO TV EDUCATIVAS RUJO CONSTRUÇÕES E EMPREENDIMENTOS IMOBILIÁRIOS LTDA TIVIT TERCEIRIZAÇÃO DE PROCESSOS, SERVIÇOS E TECNOLOGIA S.A. FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS ARVAL BRASIL LTDA. JSL S.A. JSL S.A. JSL S.A. JSL S.A. DHL LOGISTICS LTDA AGASUS S.A. BBVA RENTAEQUIPOS LEASING PERU S.A. RENTAEQUIPOS LEASING PERU S.A. RENTAEQUIPOS LEASING PERU S.A. RENTAEQUIPOS LEASING PERU S.A. RENTAEQUIPOS LEASING PERU S.A. ELIAS MARCELO LAOS HUAMAN FM EDIFICACIONES RENTING S.A.C. RENTAEQUIPOS LEASING PERU S.A. FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS EL CORTE INGLES COLUNA IMOBILIÁRIA LTDA FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS PAULO ANDRADE DE SOUZA PINTO FILHO BM LOGÍSTICA S.A. VINICOLA DO VALE DO SÃO FRANCISCO PMINAS BRASIL CONSTRUÇÃO CIVIL E SE INTER EMPRENDIMENTOS IMOBILIARIOS L VALDERLI LIMA CARDOSO GABRIELA DA SILVA BRAGA MAIANA DE FÁTIMA BEZERRA PINHEIRO Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Peru Peru Peru Peru Peru Peru Peru Peru Peru Peru Brazil Brazil Brazil Brazil Spain Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL US$ US$ US$ US$ US$ US$ US$ US$ PEN US$ BRL BRL BRL BRL EUR BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL MAESTRO LOCADORA DE VEÍCULOS S.A. VAMOS LOCAÇÃO DE CAMINHÕES, MÁQUINAS E EQUIPAMENTOS LTDA Brazil 4.01% Monthly 9.89% Monthly 9.34% Monthly 9.35% Monthly 9.34% Monthly 9.35% Monthly 9.89% Monthly 9.34% Monthly 9.89% Monthly 10.32% Monthly 8.97% Monthly 8.97% Monthly 11.25% Monthly 11.25% Monthly 8.43% Monthly 11.25% Monthly 11.25% Monthly 8.43% Monthly 11.25% Monthly 11.25% Monthly 8.43% Monthly 11.25% Monthly 11.25% Monthly 8.43% Monthly 10.32% Monthly 11.25% Monthly 8.93% Monthly 9.35% Monthly 9.89% Monthly 4.65% Monthly 9.45% Monthly 9.45% Monthly 4.65% Monthly 9.45% Monthly 7.28% Monthly 7.28% Monthly 13.39% Monthly 6.57% Monthly 3.38% Quarterly 4.12% Monthly 4.12% Monthly 4.31% Monthly 4.11% Monthly 4.11% Monthly 2.23% Quarterly 4.83% Monthly 5.45% Monthly 4.51% Monthly 6.04% Monthly 6.30% Monthly 6.04% Monthly 6.30% Monthly 0.10% Monthly 9.35% Monthly 6.30% Monthly 6.08% Monthly 5.94% Monthly 13.11% Monthly 8.97% Monthly 7.11% Monthly 4.77% Monthly 5.57% Monthly 6.04% Monthly Less than 90 days 5 3 2 2 4 2 1 Current More than 90 days - 7 5 3 9 2 3 Total Current 5 10 7 5 13 4 4 One to two years - 10 4 - 7 - 4 12-31-2019 Two to three years - 6 - - - - 3 Non-Current Three to four years - - - - - - - Four to five years - - - - - - - More than five years - - - - - - - Total Non- Current - 16 4 - 7 - 7 3 2 104 13 157 11 6 6 1 1 1 1 1 2 2 5 4 10 71 13 1,216 33 98 647 1,310 408 33 52 383 421 78 353 - 10 3 2 2 4 6 3 2 8 1 12 10 79 5 87 10 13 13 23 26 9 2 6 10 6 5 214 9 432 18 11 12 3 2 2 2 2 4 5 9 7 20 137 20 2,728 157 338 - 1,423 458 31 55 497 757 390 1,475 1,269 18 9 4 1 8 19 10 7 23 3 8 23 55 - 6 22 30 29 - - 13 1 1 15 9 7 318 22 589 29 17 18 4 3 3 3 3 6 7 14 11 30 208 33 3,944 190 436 647 2,733 866 64 107 880 1,178 468 1,828 1,269 28 12 6 3 12 25 13 9 31 4 20 33 134 5 93 32 43 42 23 26 22 3 7 25 5 7 311 - - 26 17 18 4 3 3 3 3 5 7 13 10 29 199 30 630 - 489 - 2,054 660 - 79 705 1,073 372 1,540 3,873 - 6 - - - 22 5 7 34 - 11 - 77 - - 31 - 17 - - 18 - - 7 - 5 343 - - 29 19 20 5 3 3 4 4 6 8 14 11 31 220 33 - - 308 - 2,248 723 - 87 756 1,151 422 671 - - - - - - - 5 - 25 - 7 - 47 - - 19 - - - - 8 - - - - - 313 - - 32 21 22 5 3 4 4 4 6 8 16 12 34 200 37 - - - - 2,461 791 - 95 399 402 254 - - - - - - - - 3 - - - - - - - - - - - - - - - - - - - - - - 20 13 12 2 2 2 1 2 3 3 10 9 3 - 20 - - - - 2,693 866 - 104 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 6,173 1,716 - 260 - - - - - - - - - - - - - - - - - - - - - - - 178 - - - - - 5 12 967 - - 107 70 72 16 11 12 12 13 20 26 53 42 97 619 120 630 - 797 - 15,629 4,756 - 625 1,860 2,626 1,048 2,211 3,873 - 6 - - - 22 13 7 59 - 18 - 124 - - 50 - 17 178 - 26 - - 7 305 Annual Report Enel Américas 202021.1 Individualization of Lease Liabilities, continued IN THOUSANDS OF U.S. DOLLARS – THUS$ Taxpayer ID No. Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Company Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Cien S.A. Enel Cien S.A. Enel Cien S.A. Enel Cien S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Generación Fortaleza Enel Generación Fortaleza Country Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Taxpayer ID No. Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign 94.271.000-3 Enel Américas S.A. EDESUR Enel Green Power Volta Grande Enel Green Power Volta Grande Argentina Brazil Brazil Chile 306306 Company SJ ADMINISTRAÇÃO DE IMÓVEIS VALTER FURTADO ADVOGADOS ASSOCIADOS CARLOS NILBERTO LIMA VENANCIO EXPEDITO FILHO XIMENES CARNEIRO FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS UNIMÓVEIS ELUÍSIO SOARES DA SILVA FUNTELC - FUND. TELEDUCAÇÃO - CE TELEVISAO VERDES MARES LTDA LOK MOTORS FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FRANCISCO FELIPE DE SOUSA F OLIVEIRA CORRETOR FRANCISCO DE ASSIS ROCHA RODRIGUES MADELINE CORDEIRO CAVALCANTE MARIA OTACIANA NOGUEIRA CASTRO MARIA DAS GRACAS TIMBO D MARTINS FRANCISCO CANUTO LINS PRIME PLUS LOCACAO VEICULOS E TRANS LUIZA MARTINS CAVALCANTI S.M. ALVES MOURA-ME BERTRANS BERTOTTI TRANSPORTES DE CARGAS SECAS FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS ELETROSUL CENTRAIS ELETRICAS S.A. ELETROSUL CENTRAIS ELETRICAS S.A. VINÍCIUS ANJOS DE SOUZA MAURÍCIO MANHÃE DE LIMA MOACYR JOSÉ DA CRUZ LEIDIMAR BELIENY DE CASTRO ANDRADE JOSÉ CLAUDIO MACHADO OLIVER DA SILVA BARRETO MOACYR JOSÉ DA CRUZ MAURO JOSÉ RODRIGUES FELGA FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS MARILENE DAFLON JAPOR TORRES FUNDO DE INVESTIMENTO IMOBILIÁRIO PATRIMONIAL III LIGIA RIBEIRO GARCIA DE REZENDE OSWALDO CARDOSO LIMA LUIZ ANTONIO SIQUEIRA GONÇALVES CONSÓRCIO GDA SERVIÇOS DE TRANSPOR JOSUÉ COUTO DE OLIVEIRA ALOYSIO DOS SANTOS ERTHAL MIGUEL GUERREIRO MARTINS LOACIR ANTONIO DE CARVALHO ANTONIO EDUARDO SARKIS NITERÓI EMPRESA DE LAZER E TURISMO S/A LEONARDO CAMPOS JOÃO LOPES MEZAVILLA JUNIOR ALICE ALT BITTENCOURT FUNDAÇÃO CERJ DE SEGURIDADE SOCIAL - BRASILETROS JOÃO COELHO DE ALENCAR ISIDRO DA SILVA FERREIRA AGNOS COMÉRCIO DE PARAF. LTDA LUSIA GOMES JESUS MARY CELMA ALVES DE ASSIS JOSÉ FERNANDES DE CASTRO EULER ANTÔNIO DE ARAÚJO ANA DA MOTA YESÃO GONÇALVES FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS ITA EMPRESA DE TRANSPORTES LTDA ITA EMPRESA DE TRANSPORTES LTDA RAMES ABRAHÃO BASÍLIO ANTÔNIO FRANCISCO DE MIRANDA HEBERT CHAVES DE SOUZA ISABELLA FERNANDES/LETÍCIA FERNANDES MARA LILIAM DE OLIVEIRA SILVIO LUCIANO SAGGIN VILMA ALVES PIM ANTÔNIO SERGIO MACHADO SANT'ANA DINIZ & MOURA AGORPECUÁRIA LTDA. JOÃO FRANCISCO DOURADO NERCI BERNARDO DA COSTA FLÁVIO DE OLIVEIRA BRAGA DANÚBIA DE FREITAS QUEIROZ ADAIR DEODORO SILVA EDIVALDO GODOI DA SILVA FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS SOCIEDAD DE HECHO ENTRE DEL TORO LEONARDO Y DEL TORO DOMINGO FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS Foreign Foreign Foreign 96.800.570-7 COMPAÑIA DE LEASING TATTERSALL S A. Country Currency Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL Argentina ARS BRL Brazil BRL Brazil UF Chile Effective Interest Rate Maturity 4.01% Monthly 4.01% Monthly 7.11% Monthly 6.08% Monthly 6.08% Monthly 6.30% Monthly 9.34% Monthly 7.11% Monthly 6.08% Monthly 4.01% Monthly 8.97% Monthly 6.08% Monthly 6.08% Monthly 6.08% Monthly 6.08% Monthly 6.08% Monthly 6.08% Monthly 6.08% Monthly 6.08% Monthly 8.01% Monthly 8.36% Monthly 8.43% Monthly 12.71% Monthly 8.01% Monthly 9.56% Monthly 12.51% Monthly 8.97% Monthly 6.30% Monthly 6.30% Monthly 9.89% Monthly 6.08% Monthly 6.30% Monthly 5.81% Monthly 6.50% Monthly 10.55% Monthly 7.11% Monthly 5.34% Monthly 5.57% Monthly 9.89% Monthly 5.57% Monthly 6.08% Monthly 10.55% Monthly 6.04% Monthly 6.30% Monthly 9.89% Monthly 8.54% Monthly 10.32% Monthly 5.34% Monthly 7.11% Monthly 8.97% Monthly 7.11% Monthly 7.30% Monthly 6.30% Monthly 4.01% Monthly 6.08% Monthly 12.94% Monthly 10.32% Monthly 12.51% Monthly 9.89% Monthly 5.57% Monthly 12.51% Monthly 10.88% Monthly 9.34% Monthly 9.34% Monthly 4.01% Monthly 9.34% Monthly 9.35% Monthly 9.35% Monthly 6.08% Monthly 6.30% Monthly 8.93% Monthly 5.81% Monthly 6.08% Monthly 9.35% Monthly 9.35% Monthly 6.04% Monthly 9.35% Monthly 9.35% Monthly 9.35% Monthly 9.35% Monthly 9.34% Monthly 11.25% Monthly 11.25% Monthly 8.01% Monthly 5.34% Monthly 8.01% Monthly 7.30% Monthly 6.04% Monthly 6.30% Monthly 0.62% Monthly 6.50% Monthly 7.67% Monthly 0.01% Monthly 12-31-2019 Less than 90 days Current More than 90 days Total Current One to two Two to years three years Three to four years Four to five years More than five years Total Non- Current Non-Current 250 153 403 10 10 40 8 24 265 1,399 184 4 5 3 7 168 198 2 1 21 9 71 11 5 29 37 8 9 4 3 2 5 5 2 2 1 4 2 3 48 70 2 22 5 4 10 13 30 7 2 3 19 11 22 194 821 17 31 4 2 9 3 1 1 3 2 8 2 3 9 6 1 4 2 3 1 1 4 3 4 3 2 4 6 1 2 2 4 2 3 1 1 - 1 3 2 11 510 179 68 33 17 89 26 28 13 - - 4 9 2 2 7 1 9 8 2 6 7 1 2 1 3 8 2 5 98 8 18 8 6 15 28 91 - 3 - 33 10 74 550 18 6 217 11 7 - 2 2 2 5 - 8 2 4 3 7 - 3 5 4 1 1 1 3 1 3 3 1 3 4 - 3 3 5 3 4 2 3 7 7 2 5 9 4 5 7 16 678 377 4 3 28 10 139 44 22 118 34 37 17 12 45 4 11 12 3 4 2 7 4 8 56 168 10 40 13 10 25 41 121 7 5 3 73 18 98 815 11 4 27 9 401 3 3 8 2 4 7 16 12 13 19 22 4 9 6 4 2 2 7 4 7 6 3 7 5 5 9 5 7 3 4 7 3 8 10 1 77 18 11 68 159 1,835 45 15 90 353 2,656 62 46 30 47 - - 5 - - 2 2 - - - - - - - - - - - 3 8 2 4 1 5 - 3 6 - 4 - - 3 - 8 - 3 2 7 - - 3 5 5 5 2 1 - - - - - - - - - - - - - - 4 5 8 - 6 3 - 142 - 25 - 8 23 40 52 15 - 773 10 853 10 - 17 224 853 16 10 7 3 14 8 - - - - - - - - - - - - - - - - - - 4 9 2 4 1 5 - 2 4 - - - 5 - - - 3 - - 4 4 - - - 1 2 2 - - 4 6 5 7 - - - - - - - - - - - - - - - - - - - 5 5 9 - 6 4 - 6 15 25 16 - 473 925 19 5 137 - - - 15 28 30 71 18 20 46 21 6 24 6 4 11 1 3 4 2 6 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 1 - - - 5 - 7 - - - - - - - - - - - - - - - - - - - - - - 1 11 - 6 3 - - - - - - 3 4 - 13 3 18 22 34 26 90 30 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 18 42 32 22 19 24 44 - 5 10 142 40 - - 13 177 40 52 115 1,246 6,380 14 10 - - 5 - - 2 2 - - - - - - - - - - - - 7 - - - - 8 - 4 8 9 - - 2 1 - - - - - - - - - - - - - - 50 17 49 17 - 171 52 361 853 16 14 17 38 - 25 14 - 16 7 3 8 30 4 10 11 2 4 2 6 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 3 - - - - 3 - - - 4 6 6 - - - - - - - - - - - - - - - - - - - - - 5 6 - 7 4 - - - - 1 - 10 1,399 1,005 1,090 2,507 Total 18,896 62,748 81,644 42,709 26,241 13,673 7,927 18,075 108,625 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationIN THOUSANDS OF U.S. DOLLARS – THUS$ Taxpayer Taxpayer ID Country No. Company Country Currency Rate Maturity Effective Interest Company Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Distribución Ceará S.A. Enel Cien S.A. Enel Cien S.A. Enel Cien S.A. Enel Cien S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Río S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Distribución Goias S.A. Enel Generación Fortaleza Enel Generación Fortaleza ID No. Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Chile Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign Foreign SJ ADMINISTRAÇÃO DE IMÓVEIS VALTER FURTADO ADVOGADOS ASSOCIADOS CARLOS NILBERTO LIMA VENANCIO EXPEDITO FILHO XIMENES CARNEIRO FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS UNIMÓVEIS ELUÍSIO SOARES DA SILVA FUNTELC - FUND. TELEDUCAÇÃO - CE TELEVISAO VERDES MARES LTDA LOK MOTORS FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE BERTRANS BERTOTTI TRANSPORTES DE CARGAS SECAS FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS MARILENE DAFLON JAPOR TORRES FUNDO DE INVESTIMENTO IMOBILIÁRIO PATRIMONIAL III FRANCISCO FELIPE DE SOUSA F OLIVEIRA CORRETOR FRANCISCO DE ASSIS ROCHA RODRIGUES MADELINE CORDEIRO CAVALCANTE MARIA OTACIANA NOGUEIRA CASTRO MARIA DAS GRACAS TIMBO D MARTINS FRANCISCO CANUTO LINS PRIME PLUS LOCACAO VEICULOS E TRANS LUIZA MARTINS CAVALCANTI S.M. ALVES MOURA-ME ELETROSUL CENTRAIS ELETRICAS S.A. ELETROSUL CENTRAIS ELETRICAS S.A. VINÍCIUS ANJOS DE SOUZA MAURÍCIO MANHÃE DE LIMA MOACYR JOSÉ DA CRUZ LEIDIMAR BELIENY DE CASTRO ANDRADE JOSÉ CLAUDIO MACHADO OLIVER DA SILVA BARRETO MOACYR JOSÉ DA CRUZ MAURO JOSÉ RODRIGUES FELGA LIGIA RIBEIRO GARCIA DE REZENDE OSWALDO CARDOSO LIMA LUIZ ANTONIO SIQUEIRA GONÇALVES CONSÓRCIO GDA SERVIÇOS DE TRANSPOR JOSUÉ COUTO DE OLIVEIRA ALOYSIO DOS SANTOS ERTHAL MIGUEL GUERREIRO MARTINS LOACIR ANTONIO DE CARVALHO ANTONIO EDUARDO SARKIS LEONARDO CAMPOS JOÃO LOPES MEZAVILLA JUNIOR ALICE ALT BITTENCOURT NITERÓI EMPRESA DE LAZER E TURISMO S/A JOÃO COELHO DE ALENCAR ISIDRO DA SILVA FERREIRA AGNOS COMÉRCIO DE PARAF. LTDA LUSIA GOMES JESUS MARY CELMA ALVES DE ASSIS JOSÉ FERNANDES DE CASTRO EULER ANTÔNIO DE ARAÚJO ANA DA MOTA YESÃO GONÇALVES FUNDAÇÃO CERJ DE SEGURIDADE SOCIAL - BRASILETROS FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS ITA EMPRESA DE TRANSPORTES LTDA ITA EMPRESA DE TRANSPORTES LTDA RAMES ABRAHÃO BASÍLIO ANTÔNIO FRANCISCO DE MIRANDA HEBERT CHAVES DE SOUZA ISABELLA FERNANDES/LETÍCIA FERNANDES SANT'ANA DINIZ & MOURA AGORPECUÁRIA LTDA. MARA LILIAM DE OLIVEIRA SILVIO LUCIANO SAGGIN VILMA ALVES PIM ANTÔNIO SERGIO MACHADO JOÃO FRANCISCO DOURADO NERCI BERNARDO DA COSTA FLÁVIO DE OLIVEIRA BRAGA DANÚBIA DE FREITAS QUEIROZ ADAIR DEODORO SILVA EDIVALDO GODOI DA SILVA FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS SOCIEDAD DE HECHO ENTRE DEL TORO LEONARDO Y DEL TORO FUNDAÇÃO COELCE DE SEGURIDADE SOCIAL - FAELCE FUNDAÇÃO AMPLA DE SEGURIDADE SOCIAL - BRASILETROS Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Chile BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL BRL UF 4.01% Monthly 4.01% Monthly 7.11% Monthly 6.08% Monthly 6.08% Monthly 6.30% Monthly 9.34% Monthly 7.11% Monthly 6.08% Monthly 4.01% Monthly 8.97% Monthly 6.08% Monthly 6.08% Monthly 6.08% Monthly 6.08% Monthly 6.08% Monthly 6.08% Monthly 6.08% Monthly 6.08% Monthly 8.01% Monthly 8.36% Monthly 8.43% Monthly 12.71% Monthly 8.01% Monthly 9.56% Monthly 12.51% Monthly 8.97% Monthly 6.30% Monthly 6.30% Monthly 9.89% Monthly 6.08% Monthly 6.30% Monthly 5.81% Monthly 6.50% Monthly 10.55% Monthly 7.11% Monthly 5.34% Monthly 5.57% Monthly 9.89% Monthly 5.57% Monthly 6.08% Monthly 10.55% Monthly 6.04% Monthly 6.30% Monthly 9.89% Monthly 8.54% Monthly 10.32% Monthly 5.34% Monthly 7.11% Monthly 8.97% Monthly 7.11% Monthly 7.30% Monthly 6.30% Monthly 4.01% Monthly 6.08% Monthly 12.94% Monthly 10.32% Monthly 12.51% Monthly 9.89% Monthly 5.57% Monthly 12.51% Monthly 10.88% Monthly 9.34% Monthly 9.34% Monthly 4.01% Monthly 9.34% Monthly 9.35% Monthly 9.35% Monthly 6.08% Monthly 6.30% Monthly 8.93% Monthly 5.81% Monthly 6.08% Monthly 9.35% Monthly 9.35% Monthly 6.04% Monthly 9.35% Monthly 9.35% Monthly 9.35% Monthly 9.35% Monthly 9.34% Monthly 11.25% Monthly 11.25% Monthly 8.01% Monthly 5.34% Monthly 8.01% Monthly 7.30% Monthly 6.04% Monthly 6.30% Monthly 0.62% Monthly 6.50% Monthly 7.67% Monthly 0.01% Monthly EDESUR Enel Green Power Volta Grande Enel Green Power Volta Grande Argentina DOMINGO Argentina ARS 94.271.000-3 Enel Américas S.A. 96.800.570-7 COMPAÑIA DE LEASING TATTERSALL S A. 12-31-2019 Less than 90 days 4 5 3 7 168 198 2 1 21 9 71 11 5 29 8 9 4 3 37 2 5 5 2 2 1 4 48 2 3 70 2 22 5 4 10 13 30 7 2 3 40 8 24 265 4 1,399 2 9 3 184 1 1 3 2 8 2 3 9 6 19 11 1 4 2 3 1 1 4 22 194 821 17 31 3 4 3 2 4 6 1 30 2 2 4 2 3 1 1 11 - 1 3 2 Current More than 90 days - - 4 9 510 179 2 2 7 1 68 33 17 89 26 28 13 9 8 2 6 7 1 2 1 3 8 2 5 98 8 18 8 6 15 28 91 - 3 - 33 10 74 550 7 - 2 18 6 217 2 2 5 - 8 2 4 3 7 - 11 3 5 4 1 1 1 3 68 159 1,835 45 15 1 3 3 1 3 4 - 47 3 3 5 3 4 2 3 7 7 2 5 9 Non-Current Total Current 4 5 7 16 678 377 4 3 28 10 139 44 22 118 34 37 17 12 45 4 11 12 3 4 2 7 56 4 8 168 10 40 13 10 25 41 121 7 5 3 73 18 98 815 11 1,399 4 27 9 401 3 3 8 2 16 4 7 12 13 19 22 4 9 6 4 2 2 7 90 353 2,656 62 46 4 7 6 3 7 10 1 77 5 5 9 5 7 3 4 18 7 3 8 11 One to two years - - 5 - - 250 2 2 - - - - - - - - - - - 3 8 10 2 4 1 5 - 3 6 142 - 25 - 8 23 40 52 - 4 - - 15 - 773 10 853 3 - 8 - 3 2 7 - - 3 5 5 10 - 17 5 2 1 - - - - - 224 853 - - - - - - - - - 16 4 5 8 - 6 3 - 10 7 3 14 8 Two to three years - - - - - 153 - - - - - - - - - - - - - 4 9 10 2 4 1 5 - 2 4 - - 15 - 5 25 - - - 3 - - 16 - 473 4 925 4 - - - 1 2 2 - - 4 6 5 7 - 19 5 - - - - - - - 137 - - - - - - - - - - - 5 5 9 - 6 4 - 6 - - 15 - Three to four years - - - - - - - - - - - - - - - - - - - 4 10 11 2 4 2 6 - - - - - - - - 28 - - - - - - 18 - - - 1,005 3 - - - - 3 - - - 4 6 6 - - 21 6 - - - - - - - - - - - - - - - - - - - 5 6 10 - 7 4 - - - - 1 - Four to five years - - - - - - - - - - - - - - - - - - - 4 11 1 3 4 2 6 - - - - - - - - 30 - - - - - - 20 - - - 1,090 - - - - - 1 - - - 5 - 7 - - 24 6 - - - - - - - - - - - - - - - - - - - - 1 11 - 6 3 - - - - - - More than five years - - - - - - - - - - - - - - - - - - - 3 4 - 13 3 18 22 - - - - - - - - 71 - - - - - - 46 - - - 2,507 - - - - - - - - - 34 - 26 - - 90 30 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Total Non- Current - - 5 - - 403 2 2 - - - - - - - - - - - 18 42 32 22 19 24 44 - 5 10 142 - 40 - 13 177 40 52 - 7 - - 115 - 1,246 14 6,380 10 - 8 - 4 8 9 - - 50 17 49 17 - 171 52 2 1 - - - - - 361 853 - - - - - - - - - 16 14 17 38 - 25 14 - 16 7 3 30 8 Total 18,896 62,748 81,644 42,709 26,241 13,673 7,927 18,075 108,625 307 Annual Report Enel Américas 202021.2 Undiscounted debt cash flows Undiscounted debt cash flows are detailed as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Country Argentina Peru Peru Colombia Brazil Brazil Chile Total Currency ARS US$ PEN COP BRL BRL UF IN THOUSANDS OF U.S. DOLLARS – THUS$ Country Argentina Peru Peru Colombia Brazil Chile Total Currency ARS US$ PEN COP BRL UF Nominal Interest Rate 0.62% 3.29% 4.69% 8.00% 7.75% 9.31% 0.01% Current Maturity One to three months 25 7,031 2,787 1,836 7,332 29 10 Three to twelve months 75 13,852 8,399 3,984 15,333 86 10 Total Current 12-31-2020 100 20,883 11,186 5,820 22,665 115 20 Non-Current Maturity One to two years 22 6,804 11,328 2,644 14,310 56 - Two to three years Three to four years 29 2,634 2,383 2,254 11,040 56 - 14 2,541 264 2,016 8,874 56 Four to five years - 2,494 88 1,836 8,194 56 More than five years - - 11,431 14,460 7,278 1,794 - Total Non- Current 12-31-2020 65 25,904 14,063 23,210 49,696 2,018 - - - 19,050 41,739 60,789 35,164 18,396 13,765 12,668 34,963 114,956 Nominal Interest Rate 0.62% 3.97% 5.10% 8.26% 8.01% 0.01% Current Maturity One to three months 4 5,688 1,947 1,819 12,973 3 Three to twelve months 10 29,899 14,777 4,866 24,711 8 Total Current 12-31-2019 14 35,587 16,724 6,685 37,684 11 One to two years Two to three years Four to five years More than five years 8 16,035 11,068 3,215 23,324 8 - 3,178 10,927 1,384 18,660 - Non-Current Maturity Three to four years - 13 4,057 1,056 14,356 - - - - 264 550 11,592 - - 88 1,084 17,770 - Total Non- Current 12-31-2019 8 19,226 26,404 7,289 85,702 8 22,434 74,271 96,705 53,658 34,149 19,482 12,406 18,942 138,637 NOTE 22. Risk management policy The Group companies follow the guidelines of the Risk Management Control System (SCGR) defined at the Holding level (Enel S.p.A.), which establishes rules for managing risks through the respective standards, procedures, systems, etc., applicable to the different levels of the Group companies in the ongoing business risk identification, analysis, evaluation, treatment, and communication processes. These are approved by the Enel S.p.A. Board of Directors, which includes a Risk and Controls Committee responsible for supporting the Enel Américas Board’s evaluation and decisions regarding internal control and risk management system, as well as those related to the approval of periodic financial statements. To comply with this, each Company has its own specific Control Management and Risk Management policy, which is reviewed and approved at the beginning of each year by the Enel Américas Board of Directors, observing and applying all local requirements in terms of the risk culture. The Company seeks protection against all risks that could affect the achievement of the business objectives. In January 2020, a new risk taxonomy has been approved for the Enel Group, which considers 6 macro-categories and 37 sub-categories. The Enel Group risk management system considers three lines of action (defense) to obtain effective and efficient risk management and controls. Each of these three “lines” plays a different role within the organization's broader governance structure (Business and Internal Control areas acting as the first line, Risk Control as the second line, and Internal Audit as the third line of defense). Each line of defense has the obligation to report to and keep senior management and the Directors up- to-date on risk management. In this sense, the first and second lines of defense report to the Senior Management, and the second and third lines report to the Enel Américas Board of Directors. 308308 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information21.2 Undiscounted debt cash flows Undiscounted debt cash flows are detailed as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Currency Nominal Interest Rate three months twelve months IN THOUSANDS OF U.S. DOLLARS – THUS$ Country Argentina Colombia Peru Peru Brazil Brazil Chile Total Country Argentina Colombia Peru Peru Brazil Chile Total ARS US$ PEN COP BRL BRL UF ARS US$ PEN COP BRL UF Current Maturity One to Three to Total Current 12-31-2020 100 20,883 11,186 5,820 22,665 115 20 75 13,852 8,399 3,984 15,333 86 10 Current Maturity One to Three to Total Current 12-31-2019 14 35,587 16,724 6,685 37,684 11 10 29,899 14,777 4,866 24,711 8 25 7,031 2,787 1,836 7,332 29 10 4 5,688 1,947 1,819 12,973 3 0.62% 3.29% 4.69% 8.00% 7.75% 9.31% 0.01% 0.62% 3.97% 5.10% 8.26% 8.01% 0.01% Currency Nominal Interest Rate three months twelve months Maturity One to two years 22 6,804 11,328 2,644 14,310 56 Non-Current Two to three years 29 2,634 2,383 2,254 11,040 56 Three to four years 14 2,541 264 2,016 8,874 56 Four to five years - 2,494 88 1,836 8,194 56 - - - - More than five years - 11,431 - 14,460 7,278 1,794 - Total Non- Current 12-31-2020 65 25,904 14,063 23,210 49,696 2,018 - 19,050 41,739 60,789 35,164 18,396 13,765 12,668 34,963 114,956 One to two years 8 16,035 11,068 3,215 23,324 8 Non-Current Two to three years Maturity Three to four years - - 3,178 10,927 1,384 18,660 13 4,057 1,056 14,356 - - Four to five years More than five years - - 264 550 11,592 - - - 88 1,084 17,770 - Total Non- Current 12-31-2019 8 19,226 26,404 7,289 85,702 8 22,434 74,271 96,705 53,658 34,149 19,482 12,406 18,942 138,637 Within each of the Group's companies, the risk management is decentralized. Each manager responsible for the operating process in which the risk arises is also responsible for treating the risk and adopting risk control and mitigating measures. 22.1 Interest rate risk Changes in interest rates affect the fair value of assets and liabilities bearing fixed interest rates, as well as, the expected future cash flows of assets and liabilities subject to floating interest rates. The objective of managing interest rate risk exposure is to achieve a balance in the debt structure to minimize the cost of debt with reduced volatility in profit or loss. Depending on the Group’s estimates and the objectives of the debt structure, hedging transactions are performed by entering into derivatives contracts that mitigate interest rate risk. Derivative instruments currently used to comply with the risk management policy are interest rate swaps to set floating rate to a fixed rate. The financial debt structure of the Group detailed by the mostly strongly hedged fixed and floating interest rates on total net debt, net of hedging derivative instruments, is as follows: 309 Annual Report Enel Américas 2020 Gross position: Fixed interest rate debt 12-31-2020 % 38% 12-31-2019 % 39% Risk control through specific processes and indicators allows companies to limit possible adverse financial impacts and at the same time, optimize the debt structure with an adequate degree of flexibility. In this sense, the volatility that characterized the financial markets during the first phase of the pandemic, in many cases went back to pre-COVID-19 levels and was offset by effective risk mitigation actions using derivative financial instruments. 22.2 Exchange rate risk Exchange rate risks involve basically the following transactions: - - - - Debt taken on by the Group’s companies that is denominated in a currency other than the currency in which its cash flows are indexed. Payments to be made in a currency other than that in which its cash flows are indexed for the acquisition of project- related materials and for corporate insurance policies. Income in Group companies directly linked to changes in currencies other than the currency of its cash flows. Cash flows from foreign subsidiaries to the Chilean parent company which are exposed to exchange rate fluctuations In order to mitigate foreign currency risk, the Group’s foreign currency risk management policy is based on cash flows and includes maintaining a balance between U.S. dollar flows and the levels of assets and liabilities denominated in this currency. The objective is to minimize the exposure to variability in cash flows that are attributable to foreign exchange risk. The hedging instruments currently being used to comply with the policy are currency swaps and forward exchange contracts. In addition, the policy works to refinance debt in the functional currency of each of the Group’s companies. During the last quarter of 2020, exchange rate risk management continued in the context of complying with the previously mentioned risk management policy, without difficulty to access the derivatives market. It should be noted that the volatility that characterized the financial markets during the first phase of the pandemic, in many cases went back to pre-COVID-19 levels and was offset by risk mitigation actions through derivative financial instruments. 22.3 Commodities risk The Group has a risk exposure to price fluctuations in certain commodities, basically due to: - - Purchases of fuel used to generate electricity. Energy purchase/sale transactions that take place in local markets. In order to reduce the risk in situations of extreme drought, the Group has designed a commercial policy that defines the levels of sales commitments in line with the capacity of its generating power plants in a dry year. It also includes risk mitigation terms in certain contracts with unregulated customers and with regulated customers subject to long-term tender processes, establishing indexation polynomials that allow for reducing commodities exposure risk. Considering the operating conditions faced by the power generation market, with drought and highly volatile commodity prices on international markets, the Company is constantly evaluating the use of hedging to minimize the impacts that these price fluctuations have on its results. As of December 31, 2020, there are no current transactions for the purpose of hedging the contracting portfolio. 310310 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationAs of December 31, 2019, 5.28 GWh of energy purchases had been settled, in order to cover the contracting portfolio. Thanks to the mitigation strategies implemented, the Group was able to minimize the effects of basic product price volatility on the results for the fourth quarter of 2020. 22.4 Liquidity risk The Group maintains a liquidity risk management policy that consists of entering into long-term committed banking facilities and temporary financial investments for amounts that cover the projected needs over a period of time that is determined based on the situation and expectations for debt and capital markets. The projected needs mentioned above include maturities of financial debt net of financial derivatives. For further details regarding the features and conditions of financial obligations and financial derivatives (see Notes 20 and 23). As of December 31, 2020, theGroup presents liquidity in the amount of ThUS$1,506,993. As of December 31, 2019, the Group presents liquidity of ThUS$1,938,997 in cash and other cash equivalents and ThUS$706,000 in unconditionally available long- term lines of credit. 22.5 Credit risk The Group closely monitors its credit risk. Trade receivables: The credit risk for receivables from the Group’s commercial activity has historically been very low, due to the short-term period of collections from customers, resulting in non-significant cumulative receivables amounts. This situation applies to the electricity generating and distribution lines of business. In our electricity generating business, some countries’ regulations allow suspending the energy service to customers with outstanding payments, and most contracts have termination clauses for payment default. The Company monitors its credit risk on an ongoing basis and measures quantitatively its maximum exposure to payment default risk, which, as stated above, is very low. In our electricity distribution companies, the suspension of energy service to customers in payment default is permitted in all cases, in accordance with current regulations in each country. This facilitates our credit risk management, which is also low in this line of business. However, the suspension of energy service in the event of payment defaults by vulnerable customers was suspended during the health emergency period in the countries where Enel Américas operates. In Argentina, according to Decree 311/2020 of March 24, 2020, subsequently extended, the measure will be in force until March 2021. In Brazil, according to Resolution 878 of March 24, 2020, however, to date they have resumed cutting activities, with the exception of Rio de Janeiro, which will maintain the measure until July 2021. In Colombia, according to Decree 417 and 457, of March 17, 2020, and in Peru, according to Decree 35-20 of March 16, 2020, however to date, both countries have resumed suspension activities as normal. Regarding the impact of COVID-19, the results of specific internal analysis did not reveal significant statistical correlations between the main economic indicators (GDP, unemployment rate, etc.) and solvency. However, impairment losses have increased in 2020 as a result of an increase in expected credit losses from counterparties (see notes 3.g.3 and 10.c). 311 Annual Report Enel Américas 2020Financial assets: Cash surpluses are invested in the highest-rated local and foreign financial entities (with risk rating equivalent to investment grade where possible) with thresholds established for each entity. Banks that have received investment grade ratings from the three major international rating agencies (Moody’s, S&P, and Fitch) are selected for making investments. Investments may be backed with treasury bonds from the countries in which the company operates and/or with commercial papers issued by the highest rated banks; the latter are preferable as they offer higher returns (always in line with current investment policies). It is noted that the downturn in the macroeconomic scenario due to COVID-19 had no significant impact on the counterparties’ credit quality. 22.6 Risk measurement The Group measures the Value at Risk (VaR) of its debt positions and financial derivatives in order to monitor the risk assumed by the Company, thereby reducing volatility in the statement of income. The portfolio of positions included for purposes of calculating the present Value at Risk include: - - Financial debt. Hedge derivatives for debt. The VaR determined represents the potential variation in value of the portfolio of positions described above in a quarter with a 95% confidence level. To determine the VaR, we take into account the volatility of the risk variables affecting the value of the portfolio of positions, including: - - - U.S. dollar LIBOR interest rate. The different currencies with which our companies operate and the customary local indices used in the banking industry. The exchange rates of the various currencies used in the calculation. The calculation of VaR is based on generating possible future scenarios (at one quarter) of market values for the risk variables based on scenarios based on actual observations for the same period (one quarter) during five years. The quarter 95% confidence VaR number is calculated as the 5% percentile most adverse of the quarterly possible fluctuations. Taking into consideration the assumptions previously described, the quarter VaR of the previously discussed positions was ThUS$407,000. This value represents the potential increase of the Debt and Derivatives’ Portfolio, thus these VaR are inherently related, among other factors, to the Portfolio’s value at each quarter end. 312312 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information NOTE 23. Financial instruments 23.1 Financial instruments classified by type and category a) The detail of financial assets, classified by type and category, as of December 31, 2020 and 2019, is as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ 12-31-2020 Trade and other accounts receivable Derivative instruments Other financial assets Total Current Equity instruments Trade and other accounts receivable Derivative instruments Other financial assets Total Non-Current Financial assets at fair value through profit or loss - 37,420 119,704 157,124 - - 148 2,493,609 2,493,757 Financial assets measured at amortized cost 3,281,885 - 24,110 3,305,995 - 578,556 - 267,351 845,907 Total 2,650,881 4,151,902 Financial assets at fair value through other comprehensive income - - - - Hedging financial derivatives - 49,045 - 49,045 268 - - - 268 268 - - 29,487 - 29,487 78,532 IN THOUSANDS OF U.S. DOLLARS – THUS$ 12-31-2019 Trade and other accounts receivable Derivative instruments Other financial assets Total Current Equity instruments Trade and other accounts receivable Derivative instruments Other financial assets Total Non-Current Financial assets at fair value through profit or loss - 232 59,146 59,378 - - 17,514 2,652,134 2,669,648 Financial assets measured at amortized cost 3,520,826 - 42,729 3,563,555 - 588,804 - 345,738 934,542 Total 2,729,026 4,498,097 Financial assets at fair value through other comprehensive income - - - - Hedging financial derivatives - 18,276 - 18,276 320 - - - 320 320 - - 34,105 - 34,105 52,381 313 Annual Report Enel Américas 2020b) The detail of financial liabilities, classified by type and category, as of December 31, 2020 and 2019, is as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Interest-bearing loans Trade and other accounts payable Derivative instruments Other financial liabilities Total Current Interest-bearing loans Trade and other accounts payable Derivative instruments Other financial liabilities Total Non-Current 12-31-2020 Financial liabilities at fair value through profit or loss Financial liabilities measured at amortized cost Hedging financial derivatives - - 6,202 3,240 9,442 - - - - - 1,815,160 4,649,782 - 51,495 6,516,437 3,837,697 2,205,194 - 91,070 6,133,961 - - 528 - 528 - - 9 - 9 Total 9,442 12,650,398 537 IN THOUSANDS OF U.S. DOLLARS – THUS$ Interest-bearing loans Trade and other accounts payable Derivative instruments Total Current Interest-bearing loans Trade and other accounts payable Derivative instruments Total Non-Current 12-31-2019 Financial liabilities at fair value through profit or loss Financial liabilities measured at amortized cost Hedging financial derivatives - - 2,047 2,047 - - 1,036 1,036 1,478,831 4,218,250 - 5,697,081 4,889,422 2,334,556 - 7,223,978 - - 9,173 9,173 - - - - Total 3,083 12,921,059 9,173 23.2 Derivative instruments The risk management policy of the Group uses primarily interest rate and foreign exchange rate derivatives to hedge its exposure to interest rate and foreign currency risks. The Company classifies its hedges as follows: Cash flow hedges: Those that hedge the cash flows of the underlying hedged item. Fair value hedges: Those that hedge the fair value of the underlying hedged item. Non-hedge derivatives: Financial derivatives that do not meet the requirements established by IFRS to be designated as hedging instruments are recognized at fair value through profit or loss (financial assets held for trading). • • • 314314 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Informationa) Assets and liabilities for hedge derivative instruments As of December 31, 2020, and 2019, financial derivative qualifying as hedging instruments resulted in recognition of the following assets and liabilities in the statement of financial position: IN THOUSANDS OF U.S. DOLLARS – THUS$ 12-31-2020 12-31-2019 Asset Asset Liability Liability Asset Asset Liability Liability Current Non-Current Current Non-Current Current Non-Current Current Non-Current Interest rate hedge: Cash flow hedge Fair value hedge Exchange rate hedge: Cash flow hedge Fair value hedge 306 - 306 86,159 51,661 34,498 18,416 - 18,416 11,219 11,219 - - - - 6,730 6,716 14 Total 86,465 29,635 6,730 - - - 9 9 - 9 - - - 18,508 18,508 - 12,400 12,400 - 39,219 21,705 17,514 317 317 - 9,183 9,174 9 - - - 1,036 - 1,036 18,508 51,619 9,500 1,036 - General Information Related to Hedging Derivative Instruments Hedging derivative instruments and their corresponding hedged instruments are shown in the following table: IN THOUSANDS OF U.S. DOLLARS – THUS$ Type of Hedge Instrument Description of hedged risk Description of hedged item SWAP SWAP SWAP FORWARD FORWARD FORWARD Interest rate Exchange rate Exchange rate Exchange rate Exchange rate Exchange rate Bank loans Bank loans Unsecured obligations (bonds) Operational Income Bank loans Unsecured obligations (bonds) Fair Value of Hedged Item 12-31-2020 Fair Value of Hedged Item 12-31-2019 53,221 56,494 3,682 (2,725) (802) (509) 8,670 48,930 (17) 2,008 - - As of December 31, 2020, and 2019, the Group has not recognized significant gains or losses for ineffective cash flow hedges. For fair value hedges, the gain or losses on the hedging derivative instrument and on the underlying hedged item recognized for the years ended December 31, 2020, 2019 and 2018, is detailed in the following table: IN THOUSANDS OF U.S. DOLLARS – THUS$ Hedging derivative instrument Underlying hedged item Total 2020 2019 2018 Gains 21,235 - 21,235 Losses - 429 429 Gains 1,618 381 1,999 Losses - - - Gains - 1,218 1,218 Losses 21,128 - 21,128 315 Annual Report Enel Américas 2020b) Financial derivative instruments assets and liabilities at fair value through profit or loss As of December 31, 2020, and 2019, financial derivative transactions recognized at fair value through profit or loss, resulted in the recognition of the following assets and liabilities in the statement of financial position: IN THOUSANDS OF U.S. DOLLARS – THUS$ 12-31-2020 12-31-2019 Assets Current Assets Non- Current Liabilities Current Liabilities Non- Current Assets Current Assets Non- Current Liabilities Current Liabilities Non- Current Non-hedging derivative instrument (1) 1,321 - 3,240 - 1,523 - 1,720 - (1) Correspond to forward contracts entered into by the Group mainly to hedge foreign exchange risk related to dividends received or to be received from its foreign subsidiaries. Although, the hedge relationship has economic substance, they do not comply with all the hedging documentation requirements set forth by IFRS 9 Financial Instruments to qualify for hedge accounting. c) Other information on derivatives: The following table sets forth the fair value of hedging and non-hedging derivatives entered into by the Group as well as the remaining contractual maturities as of December 31, 2020 and 2019: IN THOUSANDS OF U.S. DOLLARS – THUS$ 12-31-2020 Notional amount 1 - 2 years 2 - 3 years 3 - 4 years 4 - 5 years Financial Derivatives Fair value Interest rate hedge: Cash flow hedge Fair value hedge Exchange rate hedge: Cash flow hedge Fair value hedge Derivatives not designated for hedge accounting Less than 1 year - - - 833,438 771,860 61,578 18,722 - 18,722 90,639 56,155 34,484 (1,919) 50,601 - - - - - - 87,972 87,972 76,972 76,972 - - - - Total 107,442 884,039 87,972 76,972 IN THOUSANDS OF U.S. DOLLARS – THUS$ Financial Derivatives Fair value Interest rate hedge: Cash flow hedge Exchange rate hedge: Cash flow hedge Fair value hedge Derivatives not designated for hedge accounting Less than 1 year - - 385,662 385,662 - 12,083 12,083 47,508 31,039 16,469 - - 315,082 235,691 79,391 (198) 42,015 - - - 49,619 49,619 - - Total 59,393 427,677 315,082 49,619 - - - - - - - - - - - - - - - - More than five years 153,944 153,944 - - - - - Total 153,944 153,944 - 998,382 936,804 61,578 50,601 153,944 1,202,927 - - - - - - - - - - - - - - - - - - - - - Total - - 750,363 670,972 79,391 42,015 792,378 12-31-2019 Notional amount 1 - 2 years 2 - 3 years 3 - 4 years 4 - 5 years More than five years The contractual maturities of hedging and non-hedging derivatives do not represent the Group’s total risk exposure, as the amounts presented in the above tables have been drawn up based on undiscounted contractual cash inflows and outflows for their settlement. 316316 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information 23.3 Fair value hierarchies Financial instruments recognized at fair value in the consolidated statement of financial position are classified based on the hierarchies described in Note 3.h. The following table presents financial assets and liabilities measured at fair value as of December 31, 2020 and 2019: IN THOUSANDS OF U.S. DOLLARS – THUS$ Financial Instruments Measured at Fair Value 12-31-2020 Level 1 Level 2 Level 3 Fair Value Measured at End of Reporting Period Using: Financial Assets : Financial derivatives designated as cash flow hedge Financial derivatives designated as fair value hedge Financial derivatives not designated for hedge accounting Financial assets at fair value through other comprehensive income Financial assets at fair value through profit or loss Total Financial Liabilities: Financial derivatives designated as cash flow hedge Financial derivatives designated as fair value hedge Financial derivatives not designated for hedge accounting Total IN THOUSANDS OF U.S. DOLLARS – THUS$ 62,878 53,222 1,321 268 2,611,992 2,729,681 6,725 14 3,240 9,979 - - - - 143,843 143,843 - - - - 62,878 53,222 1,321 268 2,468,149 2,585,838 6,725 14 3,240 9,979 - - - - - - - - - - Financial Instruments Measured at Fair Value 12-31-2019 Level 1 Level 2 Level 3 Fair Value Measured at End of Reporting Period Using: Financial Assets : Financial derivatives designated as cash flow hedge Financial derivatives designated as fair value hedge Financial derivatives not designated for hedge accounting Financial assets at fair value through other comprehensive income Financial assets at fair value through profit or loss Total Financial Liabilities: Financial derivatives designated as cash flow hedge Financial derivatives designated as fair value hedge Financial derivatives not designated for hedge accounting Total 52,613 17,514 1,522 320 2,709,757 2,781,726 9,491 1,045 1,720 12,256 - - - - 57,693 57,693 - - - - 52,613 17,514 1,522 320 2,652,064 2,724,033 9,491 1,045 1,720 12,256 - - - - - - - - - - 317 Annual Report Enel Américas 2020NOTA 24. Current and non-current payables The detail of Trade and Other Current Payables as of December 31, 2020 and 2019 is as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Trade and Other Payables Trade payables Energy suppliers Fuel and gas suppliers Payables for goods and services Payables for assets acquisitions Subtotal Other payables Dividends payable to third parties Payables to CAMMESA (1) (3) Penalties and complaints (2) (3) Research and development obligations Taxes payables other than income tax Accounts payables to employees PIS/COFINS on VAT (payable to consumers) (4) Regulatory Liabilities Brazilian Subsidiaries (5) Agreement Enel Distribución Sao Paulo with Eletrobras (6) Other payables Current Non-Current 12-31-2020 12-31-2019 12-31-2020 12-31-2019 1,323,617 24,621 1,071,248 49,332 1,133,816 26,936 960,395 17,051 2,468,818 2,138,198 145,875 337,317 18,817 154,595 40,916 154,269 211,611 418,680 68,501 74,177 255,632 131,866 31,325 124,753 196,309 158,143 169,405 432,625 85,219 196,570 100,517 - 3,155 10,990 114,662 - 27,475 56,013 40,925 672 1,136 1,474,165 186,946 134,925 24,556 156,230 - 4,410 10,868 171,508 - 51,430 93,464 102,762 1,441 997 1,420,320 218,182 253,108 22,785 Subtotal 1,624,758 1,781,847 1,946,813 2,164,489 Total Trade and Other Payables 4,093,576 3,920,045 2,061,475 2,335,997 Note 22.4 for the description of the liquidity risk management policy. (1) As of December 31, 2020, the balance includes ThUS$320,918 from our subsidiary Edesur related to the payables for energy purchases from CAMMESA (ThUS$115,067 as of December 31, 2019). In addition, it included a total amount of ThUS$ 43,874 (ThUS$68,229 as of December 31, 2019) related to the agreements signed with CAMMESA for (i) financing the functional operational needs of the power generating plant of our subsidiary Enel Generación Costanera, (ii) financing the maintenance needs of the turbosteam generators in our subsidiary Dock Sud, and (iii) financing the Extraordinary Investment Plan our subsidiary Edesur. (2) Correspond mainly to fines and complaints for the current and previous years, that our subsidiary Edesur S.A. has received from the regulating entity due to commercial service quality, quality of the technical product and public road safety. These fines have not been paid, since some are suspended by the Agreement Declaration signed in 2007 with the Argentine government. The value of these fines is updated in line with the changes in Distribution Added Value due to the tariff adjustments. As of December 31, 2020, ThUS$ 38,007 (ThUS$ 78,308 as of December 31, 2019) is included as a result of the application of ENRE Resolution No. 1/2016. (3) On June 14, 2019, the Extraordinary Shareholders’ Meeting of Edesur ratified the agreement reached with the Government Secretariat of Energy (acting on behalf of the Argentine National State) in relation to the Regularization of Obligations. This agreement ended the outstanding reciprocal claims that arose in the 2006-2016 transition period. In this agreement, Edesur agreed to pay off remaining debts that arose in the above-mentioned transition period and committed to make investments in addition to those established in the Comprehensive Tariff Review for a total amount of ThUS$74,638 (approximately ARS 6,280 million). These expenses will be made over a maximum period of 5 years, and they are designed to contribute to the improvement, reliability and security of the service. 318318 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationIn turn, the Argentine National State agreed to assume Edesur’s obligations arising from debts related to loan agreements, energy purchases and corporate debts generated in the years 2017 and 2018, and it also committed to forgive sanctions payable to the Public Administration. (4) See Note 9, discussing the recoverable PIS/COFINS Taxes. (5) See Note 10(i). (6) This corresponds to an agreement between Enel Distribución Sao Paulo and Eletrobrás ending a lawsuit between both parties dating from 1986. These amounts were duly provisioned (see Note 25). The detail of trade payables, both up to date and past due as of December 31, 2020 and 2019 are presented in Appendix 3. NOTE 25. Provisions a) The detail of provisions as of December 31, 2020 and 2019, is as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Provisions Provisions for legal proceedings (*) Decommissioning or restoration (**) Provision for environmental issues Other provisions Current Non-Current 12-31-2020 12-31-2019 12-31-2020 12-31-2019 192,411 22,635 600 4,779 250,030 32,325 632 3,065 748,640 69,959 7,072 8,229 872,521 96,984 609 6,213 Total 220,425 286,052 833,900 976,327 (*) As of December 31, 2020, Emgesa has established decommissioning provisions for the electromechanical equipment of the Quimbo power plant and the water plant of the Termozipa power plant; the Quimbo power plant equipment is expected to be dismantled by 2066, while the water plant is expected to be dismantled in 2021. The expected timing and amount of any cash outflows related to the above provisions is uncertain and depends on the final resolution of the related matters. b) Changes in provisions as of December 31, 2020 and 2019, are as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Provisions Changes in Provisions Balance as of January 1, 2020 Increase (decrease) in existing provisions Provision used Effects update Foreign currency translation Transfer to P&L Total Changes in Provisions Legal Proceedings Decommissioning or Restoration Environmental Issues and Other Provisions 1,122,551 199,922 (120,184) 84,576 (243,627) (102,187) (181,500) 129,309 (26,906) (6,654) 3,514 (6,529) (140) 10,519 8,860 (748) 1,623 441 (15) Total 1,262,379 181,876 (127,586) 89,713 (249,715) (102,342) (36,715) 10,161 (208,054) Balance as of December 31, 2020 941,051 92,594 20,680 1,054,325 319 Annual Report Enel Américas 2020IN THOUSANDS OF U.S. DOLLARS – THUS$ Provisions Changes in Provisions Balance as of January 1, 2019 Increase (decrease) in existing provisions (1) Provision used Effects update Foreign currency translation Transfer to P&L Total Changes in Provisions Legal Proceedings Decommissioning or Restoration Environmental Issues and Other Provisions 1,691,736 (308,689) (155,974) 113,879 (114,476) (103,925) (569,185) 87,720 46,020 (10,196) 5,933 (168) - 41,589 7,383 12,631 (8,178) 154 (1,067) (404) 3,136 Total 1,786,839 (250,038) (174,348) 119,966 (115,711) (104,329) (524,460) Balance as of December 31, 2019 1,122,551 129,309 10,519 1,262,379 (1) It includes reclassification made to Trade and other payables originating in an agreement between Enel Distribución Sao Paulo and Eletrobrás ending a lawsuit between both parties dating from 1986 (see Note 24). NOTE 26. Post-employment benefit obligations 26.1 General information The Company and certain of its subsidiaries in Brazil, Colombia, Peru and Argentina granted various post-employment benefits for all or certain of their active or retired employees. These benefits are calculated and recognized in the financial statements according to the policy described in Note 3.m.1, and include primarily the following: a) Defined benefit plans: • • Complementary pension: The beneficiary is entitled to receive a monthly amount that supplements the pension obtained from the respective social security system. Health Plan: Pursuant to collective bargaining agreements, the companies provide a health plan to their employees. This benefit is granted to employees in the Brazilian (Enel Distribución Goiás, Enel Distribución Rio and Enel Distribución Ceará) and Colombian (Emgesa and Codensa) companies. b) Other benefits • • Five-year benefit: A benefit certain employees receive after 5 years and which begins to accrue from the second year onwards. This benefit is provided to Emgesa and Codensa employees. Employee severance indemnities: The beneficiary receives a certain number of contractual salaries upon retirement. Such benefit is subject to a vesting minimum service requirement period of 5 years. This benefit is provided to Enel Américas employees. • Unemployment: A benefit paid regardless of whether the employee is fired or leaves voluntarily. This benefit is accrued on a daily basis and is paid at the time of contract termination (although the law allows for partial withdrawals for housing and education). This benefit is provided to Emgesa and Codensa employees. • Seniority bonuses in Peru: There is an agreement to give employees (“subject to the collective bargaining agreement”) an extraordinary bonus for years of service upon completion of the equivalent of five years of actual work based on the following: 320320 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationFor completing 5, 10 and 15 years For completing 20 years For completing 25, 30, 35 & 40 years – – – 1 basic monthly remuneration 1 ½ basic monthly remuneration 2 ½ basic monthly remunerations • Education and Energy Plans: According to the collective bargaining Agreement, the Colombian companies Emgesa and Codensa grant education and electricity discount rates to their employees. c) Defined contribution benefits The Group makes contributions to a retirement benefit plan where the beneficiary receives additional pension supplements upon his/her retirement, disability or death. 26.2 Details, changes and presentation in financial statements a) The post-employment obligations associated with defined benefits plans and the related plan assets as of December 31, 2020 and 2019: General ledger accounts IN THOUSANDS OF U.S. DOLLARS – THUS$ Post-employment obligations (-) Plan assets (*) Total Amount not recognized due to limit on Plan Assets Ceiling (**) Minimum funding required (IFRIC 14) (***) 12-31-2020 12-31-2019 3,706,545 (2,097,081) 4,876,960 (3,090,862) 1,609,464 1,786,098 14,753 - 49,780 484 Total Post-Employment Obligations, Net (i) 1,624,217 1,836,362 Reconciliation with general ledger accounts: IN THOUSANDS OF U.S. DOLLARS – THUS$ (i) Post-Employment Obligations, Net Long-term post-employment obligations Pension plans Health plans Other plans 12-31-2020 12-31-2019 1,624,217 1,489,472 106,242 28,503 1,836,362 1,683,668 123,534 29,160 Total Post-Employment Obligations, Net 1,624,217 1,836,362 (*) Plan assets to fund defined benefit plans only in our Brazilian subsidiaries (Enel Distribución Rio S.A., Enel Distribución Ceará S.A., Enel Distribución Sao Paulo S.A. and Enel Distribución Goiás). (**) In Enel Distribución Ceará S.A., certain pension plans currently have an actuarial surplus amounting to ThUS$14,753 as of December 31, 2020 (ThUS$49,780 as of December 31, 2019), which actuarial surplus was not recognized as an asset in accordance with IFRIC 14 - The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction, because the Complementary Social Security (SPC) regulations - CGPC Resolution No. 26/2008 states that the surplus can only be used by the sponsor if the contingency reserve on the balance sheet of Faelce (an institution providing pension funds exclusively to employees and retired employees of Enel Distribución Ceará S.A.) is at the maximum percentage (25% of reserves). This ensures the financial stability of the plan based on the volatility of these obligations. If the surplus exceeds this limit, it may be used by the sponsor to reduce future contributions or be reimbursed to the sponsor. 321 Annual Report Enel Américas 2020(***) In Enel Distribución Rio S.A. has been recognized in accordance with the provisions of IFRIC 14 - The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction an additional liability as of December 31, 2019 has been registered ThUS$ 484. This corresponds to actuarial debt contracts that the company signed with Brasiletros (an institution providing pension funds exclusively to employees and retired employees of Enel Distribución Rio S.A.). This was done to equalize deficits on certain pension plans, since the sponsor assumes responsibility for these plans, in accordance with current legislation. b) The following amounts were recognized in the consolidated statement of comprehensive income for the years ended December 31, 2020, 2019 and 2018: IN THOUSANDS OF U.S. DOLLARS – THUS$ Expense Recognized in Comprehensive Income Current service cost for defined benefits plan Interest cost for defined benefits plan Interest income from the plan assets Past Service Costs Defined benefit plan obligation reductions Interest cost on asset ceiling components Total expenses recognized in Profit or Loss (Gains) losses from remeasurement of defined benefit plans 2020 6,278 276,103 (174,136) (18,949) (69,859) 2,936 22,373 476,805 2019 11,255 357,751 (251,095) (8,643) - 2,016 111,284 576,143 2018 6,383 269,331 (190,283) (850) - 4,373 88,954 177,527 Total expense recognized in Comprehensive Income 499,178 687,427 266,481 c) The rollforward of net actuarial liabilities as of December 31, 2020 and 2019, are as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Balance as of January 1, 2019 Net interest cost Service cost Benefits paid Contributions paid Actuarial (gains) losses from changes in financial assumptions Actuarial (gains) losses from changes in experience adjustments Return on plan assets, excluding interest Changes in the asset limit Minimum finding required (IFRIC 14) Past service credit defined benefit plan obligations Transfer of employees Foreign currency translation differences Balance as of December 31, 2019 Net interest cost Service cost Benefits paid Contributions paid Actuarial (gains) losses from changes in financial assumptions Actuarial (gains) losses from changes in experience adjustments Return on plan assets, excluding interest Changes in the asset limit Minimum finding required (IFRIC 14) Past service credit defined benefit plan obligations (*) Transfer of employees Foreign currency translation differences Transfer to Financial Debt (*) Defined benefit plan obligation reductions (*) Balance as of December 31, 2020 (*) Voluntary Pension migration to the new defined Contributions Plan. 322322 Net Actuarial Liability 1,343,507 108,672 11,255 (12,668) (121,088) 678,722 144,140 (268,916) 27,679 (5,483) (8,643) (153) (60,662) 1,836,362 104,903 6,278 (10,602) (133,195) 33,096 568,564 (97,592) (26,886) (377) (18,949) 226 (390,993) (176,759) (69,859) 1,624,217 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information On April 13, 2020, our subsidiary Enel Distribución Sao Paulo approved the regulatory reform to the complementary retirement and pensions plan (hereinafter “PSAP”), which was effective from May 1, 2020, for the purpose of closing access to new plan participants. Additionally, and together with the National Superintendence of Complementary Pensions (“PREVIC”), it approved of a voluntary migration process to a new Defined Contribution Plan (hereinafter, “CD II plan”), exclusively for the employees belonging to the PSAP. The migration consisted of the transfer of participants from a defined benefit plan (PSAP) to a defined contribution plan (CD II plan), which also generates a programmed withdrawal option (as opposed to life annuities as in the PSAP). This voluntary migration process ended on December 31, 2020. At the end of the process, 21.4% of the PSAP plan participants agreed to voluntarily transfer their savings to the CD II plan. This migration generated a reduction in the net actuarial liability in the amount of ThUS$265,169, which is explained as follows: • ThUS$176,759 corresponding to the portion of the obligation transferred to the CD II plan, in the same ratio as the mathematical reserves of the participants that opted for the migration. This transfer was formalized through a new exclusively financial debt contract and was reclassified to Other financial liabilities (current and non-current). • ThUS$88,965 corresponding to (i) the net effect of the liquidation produced as a result of the migration, in the amount of ThUS$69,859; and (ii) ThUS$19,106 related to past service costs. With the partial migration, all future legal or constructive obligations, in relation to all or part of the benefits offered by the defined benefits plan, in proportion to the migrated participants. This effect was recognized as lower personnel expenses in the consolidated statement of income. The Company will analyze the next steps in the restructuring plan with the final results of the plan, to be authorized by the competent regulatory authority. d) The balance and changes in post-employment defined benefit obligations as of December 31, 2020 and 2019 are as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Balance as of January 1, 2019 Current service cost Interest cost Contributions from plan participants Foreign currency translation Contributions paid Defined benefit plan obligations from business combinations Transfer of employees Actuarial (gains) losses from changes in financial assumptions Actuarial (gains) losses from changes in experience adjustments Balance as of December 31, 2019 Current service cost Interest cost Contributions from plan participants Foreign currency translation Contributions paid Past service credit defined benefit plan obligations Transfer of employees Actuarial (gains) losses from changes in financial assumptions Actuarial (gains) losses from changes in experience adjustments Defined benefit plan obligation reductions Balance as of December 31, 2020 Actuarial Value of Post- employment Obligations 4,235,466 11,255 357,751 2,295 (171,481) (372,392) (8,643) (153) 678,722 144,140 4,876,960 6,278 276,103 778 (1,075,063) (294,910) (18,949) 226 33,096 568,564 (666,538) 3,706,545 As of December 31, 2020, the post-employment benefit obligations are allocated as follows: 0.08% is from defined benefit plans in the Chilean holding company (0.06% as of December 31, 2019), 96.02% is from defined benefit plans in Brazilian companies (96.86% as of December 31, 2019), 3.35% is from defined benefit plans in Colombian companies (2.66% as of December 31, 2019), 0.38% is from defined benefit plans in Argentine companies (0.29% as of December 31, 2019), and the remaining 0.17% is from defined benefit plans in Peruvian companies (0.13% as of December 31, 2019). 323 Annual Report Enel Américas 2020 Changes in the fair value of the benefit plan assets are as follows: In thousands of U.S. dollars – ThUS$ Fair Value of Plan Assets Balance as of January 1, 2019 Interest income Return on plan assets, excluding interest Foreign currency translation differences Employer contributions Benefits paid Contributions paid Balance as of December 31, 2019 Interest income Return on plan assets, excluding interest Foreign currency translation differences Employer contributions Benefits paid Contributions paid Transfer to Financial Debt Defined benefit plan obligation reductions Balance as of December 31, 2020 (2,919,501) (251,095) (268,916) 112,309 (121,088) (2,295) 359,724 (3,090,862) (174,136) (97,592) 695,254 (133,195) (778) 284,308 (176,759) 596,679 (2,097,081) e) The main categories of benefit plan assets are as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Category of Plan Assets Equity instruments (variable income) Fixed-income assets Real estate investments Other Total 12-31-2020 12-31-2019 206.176 1.774.894 62.392 53.619 9.83% 84.64% 2.98% 2.56% 321.268 2.557.928 121.194 90.472 10.39% 82.76% 3.92% 2.93% 2.097.081 100% 3.090.862 100% The plans for retirement benefits and pension funds held by our Brazilian subsidiaries, Enel Distribución Rio S.A., Enel Distribución Ceará, Enel Distribución Goias and Enel Distribución Sao Paulo, maintain investments as determined by the resolutions of the National Monetary Council, ranked in fixed income, equities and real estate. Fixed income investments are predominantly invested in federal securities. Regarding equities, i) Faelce (an institution providing pension funds exclusively to employees and retired employees of Enel Distribución Ceará) holds common shares of Enel Distribución Ceará, ii) Brasiletros (a similar institution for employees of Enel Distribución Rio), Eletra (an institution pension fund exclusively for employees and retired staff of Enel Distribución Goias) and Funcesp, (the private pension entity responsible for the administration of the benefit plans sponsored by Enel Distribuición Sao Paulo) hold shares in investment funds with a portfolio traded on Bovespa (the São Paulo Stock Exchange). Finally, with regards to real estate, the foundations Faelce and Brasiletros have properties that are currently leased to Enel Distribución Rio and Enel Distribución Ceará, while in Eletra the real estate investments are exclusively for the own use of the foundation. The following table sets forth the assets affected by the plans and invested in shares, leases and real estate owned by the Group. IN THOUSANDS OF U.S. DOLLARS – THUS$ Real Estate Total 324324 12-31-2020 12-31-2019 20.522 28.776 20.522 28.776 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Informationf) Reconciliation of asset ceiling: IN THOUSANDS OF U.S. DOLLARS – THUS$ Balance as of January 1, 2019 Interest on assets not recognized Other changes in assets not recognized due to asset limit Foreign currency translation differences Balance as of December 31, 2019 Interest on assets not recognized Other changes in assets not recognized due to asset limit Foreign currency translation differences Balance as of December 31, 2020 26.3 Other disclousures: • Actuarial assumptions: Reconciliation of Asset Ceiling 21,463 2,016 27,679 (1,378) 49,780 2,936 (26,886) (11,077) 14,753 As of December 31, 2020 and 2019, the following assumptions were used in the actuarial calculation of defined benefit plans: Chile Brazil Colombia Argentina Peru 12-31-2020 12-31-2019 12-31-2020 12-31-2019 12-31-2020 12-31-2019 12-31-2020 12-31-2019 12-31-2020 12-31-2019 Discount rates used 2,55% 3,40% 4,88% - 7,95% 6,13% - 7,38% 5,74% 5,81 %- 5,85% 3,80% 3,80% 4,52% - 5,04% 5,04% 4,85% 4,90% CB-H-2014 y RV-M-2014 CB-H-2014 y RV-M-2014 AT 2000 AT 2000 RV 2008 RV 2008 CB-H-2014 y RV-M-2014 CB-H-2014 y RV-M-2014 SPP-S-2017 CB-H-2014 y RV-M-2014 7,25% 8,02% 5,19% 5,63% 0,46% 0,45% 1,26% 1,28% 5,20% 5,02% 49,36% - 54,46% 37,68% - 42,25% 49,42% 3,50% 4,30% 42,30% 4,00% 4,00% Expected rate of salary increases Mortality tables Turnover rate • Sensitivity: As of December 31, 2020, the sensitivity of the value of the actuarial liability for post-employment benefits to variations of 100 basis points in the discount rate assumes a decrease of ThUS$319,395 (ThUS$436,798 as of December 31, 2019) if the rate rises and an increase of ThUS$ 379,682 (ThUS$521,892 as of December 31, 2019) if the rate falls. • Defined contribution: The contributions made to the defined contribution plans are recorded in the item “employee expenses” in the consolidated statement of comprehensive income. The amounts recorded for this concept for the years ended December 31, 2020, 2019 and 2018 were ThUS$10,689, ThUS$13,419, and ThUS$11,736, respectively. • Future disbursements: According to the available estimate, the disbursements foreseen (net of assets) to cover the defined benefits plans for 2020 amount to ThUS$111,573. 325 Annual Report Enel Américas 2020• Length of commitments: The Group’s obligations have a weighted average length of 9.72 years, and the outflows of benefits for the next 10 years and more is expected to be as follows: Years 1 2 3 4 5 6 a 10 ThUS$ 295.800 282.531 277.690 272.007 264.229 1.229.740 • Multi-employer plans Enel Distribución Sao Paulo: FUNCESP is the entity in charge of the benefit plans sponsored by Enel Distribución Sao Paulo. Through negotiations with representative trade unions, the Company reformulated the plan in 1997, considering as its main characteristic a mixed model made up by 70% of the actual wage contributed as defined benefit and 30% of the actual wage contributed as established contribution. The purpose of this reformulation was to consider the actuarial technical deficit and to reduce the risk of future deficits. The cost of the defined benefit plan is evenly divided between the Company and the employees according to the rates mentioned above. Rates of costs vary between 1.45% and 4.22%, according to the range of wages and they are annually reassessed by an independent actuary. The cost of the defined contribution is based on the percentage freely chosen by the participant (from 1% to 100% over 30% of the actual wage contributed), with a contribution of the Company of up to the limit of 5% over the 30% basis of the contribution remuneration (the contributions paid by the company were ThUS$113,203 and ThUS$87,632 for the years ended December 31, 2020 and 2019, respectively). The Settled Proportional Supplementary Benefit - BSPS guarantees the plan participating employees that adhered to the model implemented in the Company’s privatization. This benefit will ensure the proportional value corresponding to the previous service period to the adherence date to the new mixed plan. This benefit will be paid from the date in which the participant completes the minimum times required under the regulation of the new plan. NOTE 27. Equity 27.1 Equity attributable to the shareholders of Enel Américas. 27.1.1 Subscribed and paid capital and number of shares The issued capital of the Company for the year ended December 31, 2020 is ThUS$9,763,078, divided into 76,086,311,036 authorized, subscribed and paid shares. The issued capital as of December 31, 2019 was ThUS$9,783,875, divided into 76,086,311,036 authorized, subscribed and paid shares. All of the shares issued by the Company are subscribed and paid, and they are listed for trade on the Bolsa de Comercio de Santiago de Chile, the Bolsa Electrónica de Chile, and the New York Stock Exchange (NYSE). As of December 31, 2020, and 2019, the Group did not engage in any transaction of any kind with potential dilutive effects leading to diluted earnings per share that could differ from basic earnings per share 326326 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information At an Extraordinary Shareholders’ Meeting of Company held on April 30, 2019, shareholders approved a capital increase for an amount of US$3,000,000 by issuing 18,729,788,686 ordinary shares, no-par value, of the same series. The purpose of this capital increase was to enable the Company’s subsidiary Enel Brasil to repay a loan provided by Enel Finance International N.V., which replaced bank debt incurred by Enel Brasil for the acquisition of the Brazilian company Eletropaulo Metropolitana Eletricidade de Sao Paulo S.A. (currently Enel Distribución Sao Paulo), and to restructure the liabilities of the Enel Distribución Sao Paulo’s pension funds. All new ordinary shares were offered preferably to shareholders on a pro rata basis based on the shares they own as of record in the Enel Américas shareholders registry, over two subscription periods. On June 26, 2019, the Company’s Board of Directors agreed that the subscription price of the 18,729,788,686 new shares, both in the first and second preemptive right subscription periods, would be US$ 0.162108214203236 per share. During the first preemptive rights offering period held between June 27 and July 26, 2019, a total of 18,224,843,129 shares were subscribed and paid, representing 97.3% of the total of the new shares authorized for issuance under the capital increase mentioned above, for a total amount of ThUS$ 2,954,397. During the subsequent rights offering period held between August 6 and August 29, 2019, a total of 408,826,391 shares were subscribed and paid, representing 80.96% of the total shares not subscribed in the first preemptive rights offer period and offered in the subsequent period, for a total amount of ThUS$ 66,274. On September 12, 2019, the Company’s Board of Directors agreed not to place the remaining 96,119,166 shares and charged them to the capital increase which approximately amounted to 0.51% of the total shares which were pending subscription and payment after the end of the subsequent rights offering period. Therefore, and in accordance with the agreement of the Board, once the one-year period beginning April 30, 2019 has elapsed, the Company’s capital will be fully reduced to the amount actually paid at the expiration of the offerings indicated above. As a result, during the capital increase process, a total of 18,633,669,520 shares were subscribed and paid for a total amount of ThUS$ 3,020,671. At the extraordinary shareholders’ meeting held on December 18, 2020, the Company approved the following: (i) The subtraction from the capital raised in the share issuance the placement expenses in the amount of ThUS$20,797 (see Note 27.5.c.8), related to the capital increase process performed in 2019; and (ii) The proposed merger by incorporation of EGP Américas SpA (“EGP Américas”) into Enel Américas (the “Merger”). By virtue of this Merger, Enel Américas would acquire all of EGP Américas’ assets and liabilities and succeed into all of EGP Américas’ rights and obligations, allowing the Company to control and consolidate the ownership of the business and the non-conventional renewable energy generation assets developed and held by Enel Green Power S.p.A. in Central and South America (except Chile). In order to complete the Merger, the Board approved a capital increase for Enel Américas in the amount of US$6,036,419,845, through the issuance of 31,195,387,525 new ordinary, nominative shares, of a single series and no par value. These will be fully subscribed and paid for in exchange for the incorporation of the EGP Américas equity, as an absorbed company, once the Merger becomes effective. For this purpose, 0.41 Enel Américas shares will be delivered for each share in EGP Américas held by EGP Américas’ sole shareholder, not considering fractions of shares. The Merger is subject to compliance with certain conditions precedent agreed upon by the Board, which are detailed in the Merger Terms and Conditions which, at that date of these financial statements, are pending finalization (see Note 40). 327 Annual Report Enel Américas 202027.1.2 Dividends The following table sets forth the dividends paid in the last four years: Dividend No. 96 97 98 99 100 101 102 Type of Dividend Interim Final Interim Final Interim Final Interim Agreement Date 11-29-2017 04-26-2018 11-26-2018 04-30-2019 11-25-2019 04-30-2020 11-26-2020 Payment Date 01-26-2018 05-25-2018 01-25-2019 05-17-2019 01-24-2020 05-29-2020 01-29-2021 Total ThUS$ 57,583 296,939 76,900 403,652 123,254 683,789 72,992 Dolar per Share 0.00100 0.00517 0.00134 0.00703 0.00162 0.00899 0.00096 Charged to 2017 2017 2018 2018 2019 2019 2020 27.2 Foreign currency translation reserves The following table sets forth foreign currency translation differences attributable to the shareholders of the Company for the years ended December 31, 2020, 2019 and 2018: IN THOUSANDS OF U.S. DOLLARS – THUS$ Reserves for Accumulated Currency Translation Differences (*) Empresa Distribuidora Sur S.A. Compañía Distribuidora y Comercializadora de Energía S.A. Enel Distribución Perú S.A. Dock Sud S.A. Enel Brasil S.A. Enel Generación Costanera S.A. Emgesa S.A. E.S.P. Enel Generación El Chocón S.A. Enel Perú S.A. Enel Generación Perú S.A. Enel Generación Piura S.A. Other Total (*) See Note 2.9. 2020 (715,165) 87,339 (7,279) (122,728) (2,924,373) (124,781) (74,309) (377,364) 190,007 (168,547) (4,854) (66,242) 2019 (548,877) 111,815 50,466 (93,738) 2018 (378,929) 115,658 38,887 (63,680) (1,430,604) (1,133,980) (88,477) (38,296) (318,303) 190,030 (94,082) 7,583 (30,672) (42,260) (33,476) (239,155) 191,047 (110,613) 4,926 (14,534) (4,308,296) (2,283,155) (1,666,109) 27.3 Capital Management The Company’s objective is to maintain an adequate level of capitalization in order to be able to secure its access to the financial markets, so as to fulfill its medium- and long-term goals while maximizing the return to its shareholders and maintaining a robust financial position. 27.4 Restrictions on subsidiaries transferring funds to the parent (equity note) The company has certain subsidiaries that must comply with certain financial ratios or covenants, which require a minimum level of equity or contain other characteristics that restrict the transfer of assets to the parent company. As of December 31, 2020, the company’s participation in the net restricted assets of its subsidiaries Enel Distribución Río, Enel Distribución Ceará, Enel Distribución Perú amount to ThUS$432,412, ThUS$55,226, ThUS$325,800, respectively. 328328 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information27.5 Other reserves Other reserves for the years ended December 31, 2020, 2019 and 2018, are as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Foreign currency translation difference (a) Cash flow hedges (b) Financial assets at fair value through other comprehensive income Other miscellaneous reserves (c) 01-01-2020 (2,283,155) (1,334) (687) (3,006,823) 2020 changes (2,025,141) (8,049) (5) 252,277 12-31-2020 (4,308,296) (9,383) (692) (2,754,546) Total (5,291,999) (1,780,918) (7,072,917) IN THOUSANDS OF U.S. DOLLARS – THUS$ Foreign currency translation difference (a) Cash flow hedges (b) Financial assets at fair value through other comprehensive income Other miscellaneous reserves (c) 01-01-2019 (1,666,109) (5,094) (397) (3,209,283) 2019 changes (617,046) 3,760 (290) 202,460 12-31-2019 (2,283,155) (1,334) (687) (3,006,823) Total (4,880,883) (411,116) (5,291,999) IN THOUSANDS OF U.S. DOLLARS – THUS$ Foreign currency translation difference (a) Cash flow hedges (b) Financial assets at fair value through other comprehensive income Other miscellaneous reserves (c) 01-01-2018 (453,995) (3,472) (175) (3,408,922) 2018 changes (1,212,114) (1,622) (222) 199,639 12-31-2018 (1,666,109) (5,094) (397) (3,209,283) Total (3,866,564) (1,014,319) (4,880,883) a) Reserves for foreign currency translation differences: These reserves arise primarily from exchange differences relating to: - - Translation of the financial statements of our subsidiaries with functional currencies other than the US dollar (see Note 2.9); and Translation of goodwill arising from the acquisition of companies with functional currencies other than the US dollar (see Note 3.c). b) Cash flow hedge reserves: These reserves represent the cumulative effective portion of gains and losses on cash flow hedges (see Note 3.g.5). c) Other miscellaneous reserves. The main items and their effects are the following: IN THOUSANDS OF U.S. DOLLARS – THUS$ Other Miscellaneous Reserves Reserve for capital increase in 2013 (1) Company restructuring reserve ("Division") (2) Reserve for subsidiaries transactions (3) Reserve for transition to IFRS (4) Reserve for Merger of Enel Américas, Endesa Américas and Chilectra Américas (5) Reserve for Tender Offer of Endesa Américas and withdrawal rights (6) Argentine hyperinflation (7) Reserve for Capital Increase year 2019 (8) Other miscellaneous reserves (9) 2020 (1,345,368) 716,712 (456,349) (1,490,605) (730,748) (57,101) 675,139 - (66,226) 2019 (1,345,368) 716,712 (456,349) (1,490,605) (730,748) (57,101) 446,196 (20,797) (68,763) 2018 (1,345,368) 716,712 (439,290) (1,490,605) (730,748) (57,101) 205,130 - (68,013) Total (2,754,546) (3,006,823) (3,209,283) 329 Annual Report Enel Américas 20201) 2) Reserve originated from the capital increase that the Company made during the first quarter of 2013. Reserve for corporate reorganization (Spin-Offs of companies) completed on March 1, 2016. Corresponds to the effects from the reorganization of Enersis Américas and the separation of the Chilean business into a new entity, Enel Chile S.A. 3) Reserve from transactions with our subsidiaries. It corresponds to the effect of purchases of equity interests in subsidiaries that were accounted for as transactions between entities under common control. 4) Reserve for transition to IFRS. In accordance with Official Bulletin No. 456 from the SVS (Superintendencia de Valores y Seguros de Chile), included in this line item is the price-level restatement of paid-in capital from the date of transition to IFRS, January 1, 2004 to December 31, 2008. 5) Reserve for Merger of Endesa Américas and Chilectra Américas with and into the Company, completed on December 1, 2016. This represents the recognition of the difference between the capital increase in the Company and the carrying amount of the non-controlling interests that became part of the equity attributable to the owners of Enel Américas after completion of the Merger. The difference between the fair market value of the consideration received or paid and the amount by which the non-controlling interests is adjusted is being recognized in equity attributable to the owners of Enel Américas. 6) Reserve for Tender Offer of Endesa Américas and withdrawal rights. This represents the recognition of the difference between the carrying amount and the price paid for the non-controlling interests acquired in the Tender Offer on Endesa Américas, which resulted in a charge to other reserves for ThUS$56,578. It also, includes ThUS$523 related to the recognition of the difference between the carrying amount and the price paid for the shares of those shareholders who exercised their withdrawal rights. 7) Corresponds to the effect that our subsidiaries in Argentina have recognized through the application of IAS 29 on equity accounts. 8) Reserve for Capital Increase in 2019. As of December 31, 2019, the Company has recorded a charge of ThUS$20,797, which corresponds to expenses for the issuance and placement of shares, determined according to the accounting criteria described in Note 3.t). In December 2020, this reserve was reclassified and the Company’s capital was reduced (see Note 27.1.1). 9) Other miscellaneous reserves from transactions made in prior years. 27.6 Non-controlling Interests. The detail of non-controlling interests as of December 31, 2020, 2019 and 2018, is as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ % Equity Profit (Loss) Non-controlling interests 12-31-2020 12-31-2020 12-31-2019 0.27% 25.95% 0.00% 51.59% 51.52% 16.85% 16.40% 33.12% 27.91% 24.38% 34.31% 42.86% 29.76% 3.50% 0.04% 49.00% 1,883 170,552 - 513,182 779,121 123,704 133,466 20,888 198,054 43,751 97,986 71,077 64,709 4,905 462 383 3,681 2,510 214,442 - 494,477 747,014 121,098 152,227 22,604 223,785 40,738 97,763 77,378 76,533 5,463 971 - 2,896 2020 28 13,387 - 117,923 178,980 13,131 20,705 6,076 (20,297) 4,248 18,141 1,130 1,271 373 10 - 949 2019 192 26,753 26,366 129,624 193,449 21,651 20,091 6,318 50,352 14,125 28,142 18,723 18,486 778 (19) - 647 2018 128 26,409 907 106,363 178,045 17,601 25,177 6,836 25,609 22,248 31,031 12,027 11,921 613 313 - 449 2,227,804 2,279,899 356,055 555,678 465,677 Companies Enel Distribución Río S.A. Enel Distribución Ceará S.A. Enel Distribución Sao Paulo Compañía Distribuidora y Comercializadora de Energía S.A. Emgesa S.A. E.S.P. Enel Distribución Perú S.A. Enel Generacion Perú S.A. Chinango S.A.C. Empresa Distribuidora Sur S.A. Enel Generacion Costanera S.A. Enel Generacion El Chocón S.A. Inversora Dock Sud S.A. Central Dock Sud S.A. Enel Generacion Piura S.A. Enel Distribución Goias Luz de Angra Energia S.A. Other Total 330330 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationNOTE 28. Revenue and other operating income The detail of revenue presented in the statement of comprehensive income for the years ended December 31, 2020, 2019 and 2018, is as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Revenues Energy sales Generation Regulated customers Unregulated customers Spot market sales Other customers Distribution Residential Business Industrial Other customers Other sales Gas sales Other fuel sales Sales of goods and services Revenue from other services Tolls and transmission Metering equipment leases Services and Business Advisories provided (Public lighting, connections and electrical advisories) Other services Total revenue IN THOUSANDS OF U.S. DOLLARS – THUS$ Other Income Revenue from construction contracts Regulatory agreement revenue (1) Other 2020 2019 2018 9,655,212 11,282,254 10,409,176 2,144,039 397,653 883,045 852,363 10,978 7,511,173 4,334,457 1,760,922 685,246 730,548 36,968 24,145 6,861 5,962 1,546,796 1,280,994 126 177,818 87,858 2,091,002 450,145 1,045,965 577,579 17,313 9,191,252 5,038,300 2,302,100 872,531 978,321 58,752 39,815 9,037 9,900 1,712,370 1,433,538 118 191,392 87,322 2,122,966 650,064 989,311 464,030 19,561 8,286,210 4,212,029 2,107,183 860,401 1,106,597 48,968 36,305 8,322 4,341 1,466,617 1,187,546 130 212,023 66,918 11,238,976 13,053,376 11,924,761 2020 807,671 17,842 128,185 2019 770,356 261,185 229,195 2018 833,313 - 231,615 Total other income 953,698 1,260,736 1,064,928 (1) 2020: see Note 35.6 (ii) Framework Agreement 2019: see Note 24. (3). Includes inflation adjustment for the application of IAS 29 in Argentina (hyperinflationary economies), for US $57,752. 331 Annual Report Enel Américas 2020 NOTE 29. Raw materials and consumables used The detail of raw materials and consumables used presented in profit or loss for the years ended December 31, 2020, 2019 and 2018, is as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Raw Materials and Consumables Used Energy purchases Fuel consumption Gas Oil Coal Transportation costs Costs from construction contracts Other variable supplies and services 2020 (5,337,887) (137,850) (113,992) (3,587) (20,271) (1,016,486) (807,671) (256,021) 2019 (6,096,863) (277,117) (246,044) (13,101) (17,972) (1,110,921) (770,356) (285,766) 2018 (5,654,358) (226,843) (184,654) (37,065) (5,124) (944,304) (833,313) (289,582) Total Raw Materials and Consumables Used (7,555,915) (8,541,023) (7,948,400) NOTE 30. Employee benefits expense The detail of employee expenses for the years ended December 31, 2020, 2019 and 2018, are as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Employee Benefits Expenses Wages and salaries Post-employment benefit expense Social security and other contributions Other employee expenses 2020 (390,791) 71,841 (219,754) (26,342) 2019 (482,009) (16,031) (286,459) (25,254) 2018 (476,809) (17,269) (266,566) (79,849) Total Employee Benefits Expenses (565,046) (809,753) (840,493) NOTE 31. Depreciation, amortization and impairment losses of property, plant and equipment and financial assets UNDER-IFRS 9 a) The detail of depreciation and amortization for the years ended December 31, 2020, 2019 and 2018, is as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ 2020 (481,634) (376,465) 2019 (498,867) (449,463) 2018 (511,326) (351,114) (858,099) (948,330) (862,440) Depreciation Amortization Total 332332 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Informationb) The detail of the items related to impairment for the years ended December 31, 2020, 2019 and 2018, is as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Information on Impairment Losses by Reportable Segment Assets or disposal groups held for sale (See Note 5) Property, plants and equipment (see note 18) Total impairment (losses) reversals recognized in profit Generation Distribution 2020 - - 2019 - (1,307) 2018 - 66,987 2020 - - 2019 3,433 - 2018 (5,234) - 2020 - - Other 2019 - - 2018 - - 2020 - - Total 2019 3,433 (1,307) 2018 (5,234) 66,987 - (1,307) 66,987 - 3,433 (5,234) - - - - 2,126 61,753 Trade and other receivables (see note 10) Other assets Impairment profit and reversals from impairment losses in accordance with IFRS 9 Total impairment reversal (losses) (349) (585) (934) (934) 645 - (4,462) (536) (211,289) (30,251) (159,909) (119,325) (110,209) (6,495) 645 (662) (4,998) 61,989 (241,540) (241,540) (279,234) (275,801) (116,704) (121,938) 102 - 102 102 14 (550) (536) (536) - (799) (211,536) (30,836) (159,250) (119,875) (114,671) (7,830) (799) (799) (242,372) (242,372) (279,125) (276,999) (122,501) (60,748) NOTE 32. Other expense, by nature Other miscellaneous operating expenses for the years ended December 31, 2020, 2019 and 2018, are as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Other expenses Professional, outsourced and other services Administrative expenses Repairs and maintenance Indemnities and fines Taxes and charges Insurance premiums Leases and rental costs Public relations and advertising Other supplies and services Travel expenses Environmental expenses 2020 (473,655) (99,813) (232,305) (8,886) (24,470) (39,525) (10,641) (9,175) (161,673) (2,892) (2,243) 2019 (518,101) (106,433) (253,036) (11,535) (25,673) (38,755) (10,341) (11,811) (155,940) (16,324) (2,760) 2018 (473,787) (91,376) (203,381) (11,966) (20,548) (37,793) (27,885) (12,737) (126,511) (12,790) (2,311) Total (1,065,278) (1,150,709) (1,021,085) Research expenses are recognized directly in income for the year. The amount of these expenses for the years ended December 31, 2020, 2019 and 2018, amounted to ThUS$54, ThUS$86 and ThUS$856, respectively. NOTE 33. Financial results Finance income and costs for the years ended December 31, 2020, 2019 and 2018, are as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Finance Income Cash and cash equivalents Proceeds from expected yield of plan assets (Brazil) (1) Financial income from concessions IFRIC 12 (Brazil) (2) Interest charged to customers in energy bills and invoices Other financial income (3) 2020 59,510 15 99,071 66,080 96,801 2019 64,794 27 73,345 76,122 235,373 2018 93,774 42 73,911 58,604 131,750 Total financial income 321,477 449,661 358,081 333 Annual Report Enel Américas 2020 IN THOUSANDS OF U.S. DOLLARS – THUS$ Finance Costs Finance Costs Bank loans Bonds payable Lease obligations Valuation of financial derivatives Financial restatement of provisions (4) Capitalized finance expenses Post-employment benefit obligations (1) Formalization of debt and other associated expenses Financial expenses - related parties (5) Other financial costs (6) 2020 2019 2018 (768,453) (1,088,631) (1,071,759) (70,023) (208,630) (9,396) (10,207) (89,713) 7,561 (104,918) (7,134) (2,662) (273,331) (134,024) (281,359) (11,712) (18,610) (119,966) 15,703 (108,699) (11,323) (127,977) (290,664) (162,192) (312,204) (8,170) (14,094) (147,194) 19,329 (83,463) (17,883) (43,874) (302,014) Gains (losses) from indexed assets and liabilities (*) 76,698 124,477 270,380 Foreign currency exchange differences (**) 57,171 136,960 110,635 Total financial costs Total financial results (1) See Note 26.2.c). (634,584) (827,194) (690,744) (313,107) (377,533) (332,663) (2) For the years ended December 31, 2020, 2019 and 2018, this item corresponds to the financial update of non-amortized assets at their new replacement value at the end of the concession in the distribution companies Enel Distribución Río S.A., Enel Distribución Ceará S.A., Enel Distribución Goias S.A. and Enel Distribución Sao Paulo S.A. (3) For the year ended December 31, 2020, the Company records finance income generated by a financial restatement of PIS/COFINS taxes receivable of Enel Generación Fortaleza of ThUS$ 546 (ThUS$ 14,330 and ThUS$ 0 at December 31, 2019 and 2018, respectively), finance income from regulatory assets related to the Brazilian subsidiaries of ThUS$ 32,715 (ThUS$ 48,228 and ThUS$ 28,579 at December 31, 2019 and 2018, respectively), finance income from VOSA accounts receivable of Argentine generation subsidiaries of ThUS$ 12,387 (ThUS$ 80,738 and ThUS$ 12,894 as of December 31, 2019 and 2018, respectively), income from revaluation of investments due to change in ownership of Central Térmica Manuel Belgrano and Central Térmica San Martín for ThUS$ 24,893 (see Note 14) and other income for ThUS$ 26,260 (ThUS$ 92,077 and ThUS$ 90,277 as of December 31, 2019 and 2018, respectively). (4) For the year ended December 31, 2020, the Company includes ThUS$13,754 (ThUS$ 56,225 and ThUS$ 61,454 as of December 31, 2019 and 2018, respectively) of our subsidiary Edesur, corresponding to the finance cost generated by the update of the penalty for service quality due to the application of ENRE Resolution No. 1/2016 (See Note 24). Additionally, our Brazilian subsidiaries have recognized ThUS$ 70,622 and ThUS$ 54,002 and ThUS$ 61,087 during the periods ended December 31, 2020, 2019 and 2018, respectively, for accounting update of legal claims. (5) For the year ended December 31, 2020, interest for debt with Enel Finance International NV for ThUS $ 2,662 (ThUS $ 127,977 and ThUS $ 43,874 as of December 31, 2019 and 2018, respectively) is included, related to the refinancing for the purchase Enel Distribución Sao Paulo (see note 11.d). (6) For the year ended December 31, 2020, it includes interest from the debt with CAMMESA for ThUS$ 88,415 (ThUS$ 91,864 and ThUS$ 111,680 as of December 31, 2019 and 2018, respectively), banking expenses for ThUS$ 32,533 (ThUS$ 53,458 and ThUS$ as of December 31, 2019 and 2018, respectively), finance costs for the sale of portfolio corresponding to the assignment of accounts receivable in our subsidiaries in Peru, Colombia and Brazil amounting to ThUS$ 0 (ThUS$ 5,950 and ThUS$ 23,471 as of December 30, 2019 and 2018, respectively), and others for ThUS$ 152,383 (ThUS$ 139,392 and ThUS$ 110,675 as of December 31, 2019 and 2018, respectively). 334334 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information(*) The effects on financial results by adjustment units and (**) exchange differences are as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Gains (losses) from Indexed Assets and Liabilities (*) Inventories Investments accounted for using the equity method Intangible assets other than goodwill Goodwill Property, plant and equipment Deferred tax assets Deferred tax liabilities Total Equity Revenues Raw materials and consumables used Financial results Other Expenses Corporate tax 2020 27,150 48 11,601 6,530 485,353 14,665 (89,669) (355,914) (150,056) 126,134 2,818 (3,317) 1,355 2019 25,670 79 8,867 8,858 646,811 20,861 (119,471) (382,962) (346,360) 241,081 (1,559) 95 22,507 2018 2,099 128 5,218 8,494 621,219 - - (318,132) (282,564) 207,965 20,434 (264) 5,783 Hyperinflation Gain (1) 76,698 124,477 270,380 Gain from inflation-adjusted units 76,698 124,477 270,380 IN THOUSANDS OF U.S. DOLLARS – THUS$ Foreign Currency Exchange Differences (**) Cash and cash equivalents Other financial assets Other non-financial assets Trade and other receivables Current tax assets (liabilities) Other financial liabilities (financial debt and derivative instruments) Trade and other payables Other non-financial liabilities Total 2020 8,277 130,570 27,195 57,226 - (30,988) (46,073) (89,036) 2019 3,553 57,818 379 210,587 - (43,692) (45,142) (46,543) 2018 28,247 143,279 5,356 193,532 2,473 (144,669) (76,575) (41,008) 57,171 136,960 110,635 1) Corresponds to the financial effect derived from the application of IAS 29 "Financial Reporting in Hyperinflationary Economies". (See Note 2.9). NOTE 34. Information by segment 34.1 Basis of segmentation The Group’s activities operate under a matrix management structure with dual and cross management responsibilities (based on business and geographical areas of responsibility), and its subsidiaries are engaged in either the Generation and Transmission Business or the Distribution Business. The Group adopted a “bottom-up” approach to determine its reportable segments. The Generation and Transmission and the Distribution reportable segments have been defined based on IFRS 8.9 and on the criteria described in IFRS 8.12, taking into account the aggregation of the operating segments having similar economic drivers that are common in all countries. Generation and Transmission Business: The Generation and Transmission Reportable Segment is comprised of a group of electricity companies that own electricity generating plants, whose energy is transmitted and distributed to end customers. The following four operating segments have been aggregated into one combined set of information for the Generation and Transmission Reportable Segment: 335 Annual Report Enel Américas 2020 Generation and Transmission Reportable Segment: • • • • Generation and Transmission Business in Argentina Generation and Transmission Business in Brazil Generation and Transmission Business in Colombia Generation and Transmission Business in Peru The Generation and Transmission Business is conducted: in Argentina through Enel Trading Argentina (formerly Cemsa), Central Dock Sud, Enel Generación Costanera, and Enel Generación El Chocón; in Brazil through EGP Cachoeira Dourada, Enel CIEN, EGP Proyecto I, Fortaleza, Enel Tecnología de Redes, Central Geradora Fotovolcaica Sao Francisco Ltda y Enel Trading Brasil S.A., in Colombia through Emgesa; and in Peru through Enel Generación Perú and Enel Generación Piura and Chinango. Distribution Business: The Distribution Reportable Segment is comprised of a group of electricity companies operating under a public utility concession, with service obligations and regulated tariffs for supplying regulated customers in four different countries. The following four operating segments have been aggregated into one combined set of information for the Distribution Reportable Segment: Distribution Reportable Segment: • • • • Distribution Business in Argentina Distribution Business in Brazil Distribution Business in Colombia Distribution Business in Peru The Distribution Business is conducted: in Argentina through Edesur; in Brazil through Enel Distribución Río S.A., Enel Distribución Ceará S.A., Enel Distribución Goias and Enel Distribución Sao Paulo (formerly Eletropaulo); in Colombia through Codensa; and in Peru through Enel Distribución Perú. Each of the operating segments generates separate financial information, which is aggregated into one combined set of information for the Generation and Transmission Business, and another set of combined information for the Distribution Business at the reportable segment level. In addition, in order to assist the decision maker process, the Planning & Control Department at the parent company level prepares internal reports containing combined information at the reportable segment level about the main key performance indicators (KPIs), such as: EBITDA, Gross Margin, Total Capex, Total Opex, Net income, Total Energy Generation and Transmission, among others. The presentation of information under this business/country approach has been made taking into consideration that the KPIs are similar and comparable in all countries, in each of the following aspects: a) the nature of the activities: generation and transmission, on one hand, and distribution on the other; b) the nature of the production processes: The Generation and Transmission Business deals with the generation of electricity and its transmission to dispatch centers, while the Distribution Business does not generate electricity, but distributes electricity to end customers; c) the type or class of customer for their products and services: The Generation and Transmission Business provides services mainly to unregulated customers, while the Distribution Business provides energy to regulated customers; d) l the methods used to distribute their products or provide their services: generators generally sell the energy through energy auctions, while distributors provide energy in their concession area; and e) the nature of the regulatory environment (public utilities): the regulatory frameworks differs in the Generation and Transmission Business and Distribution Business. 336336 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationThe Company’s chief operating decision maker (“CODM”) in conjunction with the country managers reviews on a monthly basis these internal reports and uses the KPI information to make decisions on the allocation of resources and the assessment of the performance of the operating segments for each reportable segment. The information disclosed in the following tables is based on the financial information of the companies forming each segment. The accounting policies used to determine the segment information are the same as those used in the preparation of the Group’s consolidated financial statements. 34.2 Generation and transmission, distribution and others IN THOUSANDS OF U.S. DOLLARS – THUS$ Line of business ASSETS CURRENT ASSETS Cash and cash equivalents Other current financial assets Other current non-financial assets Trade and other current receivables Current accounts receivable from related parties Inventories Current tax assets Non-current assets or disposal groups held-for-sale or held for distribution to owners NON-CURRENT ASSETS Other non-current financial assets Other non-current non-financial assets Trade and other non-current receivables Non-current accounts receivable from related parties Investments accounted for using the equity method Intangible assets other than goodwill Goodwill Property, plant and equipment Investment properties Right-of-use asset Deferred tax assets Generation Distribution 12-31-2020 1,752,168 678,856 77,146 70,693 699,288 110,101 86,375 29,709 12-31-2019 1,401,368 593,058 62,287 68,906 446,026 129,961 68,525 32,605 12-31-2020 4,321,551 748,245 151,746 430,800 2,524,640 19,689 384,790 61,641 12-31-2019 4,513,289 649,538 49,098 374,419 3,044,634 26,237 327,751 30,286 Holdings, Eliminations and Other 12-31-2020 105,537 79,892 1,387 59,293 11,007 (82,840) 268 36,530 12-31-2019 666,597 696,401 8,998 42,837 13,797 (139,829) (37) 44,430 Total 12-31-2020 6,179,256 1,506,993 230,279 560,786 3,234,935 46,950 471,433 127,880 12-31-2019 6,581,254 1,938,997 120,383 486,162 3,504,457 16,369 396,239 107,321 - - - 11,326 - - - 11,326 5,023,349 293,011 44,772 280,119 43,945 111,027 136,560 5,481,408 345,968 67,688 311,858 54,002 104,875 67,708 14,821,340 2,497,735 2,284,187 297,872 32 1,596 4,370,876 16,610,174 2,703,694 2,663,918 275,915 68 1,710 5,441,246 - - - - 3,953,188 4,351,508 - 127,537 33,190 - 147,005 30,796 4,396,560 7,942 94,180 870,360 4,399,515 10,254 108,112 1,005,742 909,613 117 3,897 533 (43,945) (110,350) 17,390 945,512 4,924 - 703 90,832 1,103,548 149 4,284 184 (53,223) (104,607) 18,925 1,173,043 12,415 - 682 51,696 20,754,302 2,790,863 2,332,856 578,524 32 2,273 4,524,826 945,512 8,354,672 7,942 222,420 994,382 23,195,130 3,049,811 2,735,890 587,957 847 1,978 5,527,879 1,173,043 8,763,438 10,254 255,799 1,088,234 TOTAL ASSETS 6,775,517 6,882,776 19,142,891 21,123,463 1,015,150 1,770,145 26,933,558 29,776,384 The Holding, Eliminations and Other column corresponds to transactions between companies in different lines of business and country, primarily purchases and sales of energy and services. IN THOUSANDS OF U.S. DOLLARS – THUS$ Line of business LIABILITIES AND EQUITY CURRENT LIABILITIES Other current financial liabilities Current lease liability Trade and other current payables Current accounts payable to related parties Other current provisions Current tax liabilities Other current non-financial liabilities Liabilities associated with groups of assets or disposal groups held for sale or distribution to owners NON-CURRENT LIABILITIES Other non-current financial liabilities Non-current lease liability Trade and other non-current payables Non-current accounts payable to related parties Other long-term provisions Deferred tax liabilities Non-current provisions for employee benefits Other non-current non-financial liabilities EQUITY Equity attributable to shareholders of Enel Américas Share and paid-in capital Retained earnings (losses) Issuance premiums Treasury shares in portfolio Other reserves Generation Distribution 12-31-2020 1,652,616 317,285 21,478 881,993 155,817 79,356 150,727 45,960 12-31-2019 1,222,704 198,424 42,441 580,450 122,443 80,023 144,418 54,505 12-31-2020 5,178,351 1,020,125 29,753 3,081,693 651,021 141,067 69,379 185,313 12-31-2019 5,027,059 847,463 38,758 3,102,559 518,068 205,464 70,073 240,883 Holdings, Eliminations and Other 12-31-2020 446,255 487,720 264 129,890 (209,716) 2 2,764 35,331 12-31-2019 486,169 362,520 445 237,036 (146,000) 565 6,236 25,367 Total 12-31-2020 7,277,222 1,825,130 51,495 4,093,576 597,122 220,425 222,870 266,604 12-31-2019 6,735,932 1,408,407 81,644 3,920,045 494,511 286,052 220,727 320,755 - - - 3,791 - - - 3,791 1,280,831 727,682 11,591 979 19,252 84,179 335,101 32,753 69,294 3,842,070 3,842,070 1,821,697 1,122,697 37,138 (54) 860,592 1,690,280 1,051,275 20,506 4,178 15,258 101,159 382,097 33,720 82,087 3,969,792 3,969,792 1,968,025 1,190,915 38,888 7,759,713 2,518,301 78,882 2,049,498 444,950 749,514 282,397 1,588,504 47,667 6,204,827 6,204,827 2,902,092 (82,505) 55,685 8,548,777 3,134,569 87,742 2,320,943 34,662 874,836 267,181 1,799,663 29,181 7,547,627 7,547,627 3,558,565 318,239 58,011 - - - 771,964 3,329,555 3,612,812 282,129 591,723 597 10,998 (319,811) 207 (4,545) 2,960 555,209 595,989 377 10,876 (49,920) 332 (5,424) 2,979 - - 9,322,673 3,837,706 91,070 2,061,475 144,391 833,900 612,953 1,624,217 116,961 10,794,266 4,781,833 108,625 2,335,997 - 976,327 643,854 1,836,362 111,268 286,766 286,766 5,039,289 4,375,506 (92,823) 54 (9,035,260) 728,767 728,767 4,257,285 3,965,257 (96,899) - 10,333,663 8,105,859 9,763,078 5,415,698 12,246,186 9,966,287 9,783,875 5,474,411 - - - - (7,396,876) (7,072,917) (5,291,999) Non-controlling interests - - - - - - 2,227,804 2,279,899 Total Liabilities and Equity 6,775,517 6,882,776 19,142,891 21,123,463 1,015,150 1,770,145 26,933,558 29,776,384 The Holding, Eliminations and Other column corresponds to transactions between companies in different lines of business and country, primarily purchases and sales of energy and services. 337 Annual Report Enel Américas 2020IN THOUSANDS OF U.S. DOLLARS – THUS$ Country STATEMENTS OF COMPREHENSIVE INCOME (LOSS) REVENUE Revenues Energy sales Other sales Other services rendered Other income RAW MATERIALS AND CONSUMABLES USED Energy purchases Fuel consumption Transportation expenses Other miscellaneous supplies and services CONTRIBUTION MARGIN Other work performed by the entity and capitalized Employee benefits expense Other expenses Chile ( Holdings and Other) 2020 165 2019 902 2018 1,335 - - - - - - - - - - - - 165 902 1,335 2020 1,030,361 995,970 958,852 2,431 34,687 34,391 Argentina 2019 1,782,532 1,481,493 1,435,040 2,771 43,682 301,039 2018 1,516,392 1,488,830 1,443,845 191 44,794 27,562 2020 7,580,444 6,696,125 5,944,342 698 751,085 884,319 Brazil 2019 8,608,890 7,685,111 6,805,945 3,755 875,411 923,779 2018 7,489,756 6,520,243 5,865,566 2,225 652,452 969,513 Colombia Peru Eliminations Totales 2020 2019 2018 2020 2019 2018 2,337,750 2,538,922 2,671,192 1,243,993 1,382,940 1,311,262 2,311,045 1,564,664 23,990 722,391 26,705 2,513,971 1,734,645 28,737 750,589 24,951 2,642,886 1,868,279 1,235,836 1,187,354 1,372,801 1,306,624 1,272,802 1,231,486 23,232 751,375 28,306 9,849 38,633 8,157 23,489 42,688 10,139 23,320 17,996 38,460 2020 (39) 2019 (74) 2018 (248) 2020 2019 2018 12,192,674 14,314,112 12,989,689 - - - - - 11,238,976 13,053,376 11,924,761 - - - 9,655,212 11,282,254 10,409,176 36,968 1,546,796 953,698 58,752 1,712,370 1,260,736 48,968 1,466,617 1,064,928 (39) (74) (248) (99) - - - (99) 66 - - - - - - - - - (551,514) (490,953) (1,180) (24,348) (903,365) (715,723) (100,579) (25,949) (769,333) (656,647) (21,095) (37,414) (5,450,908) (3,896,510) (41,363) (675,394) (5,906,736) (4,311,902) (58,506) (739,219) (5,366,693) (3,855,878) (18,151) (631,737) (930,528) (1,054,749) (1,208,848) (622,866) (500,924) (39,785) (247,325) (596,652) (49,225) (261,082) (721,047) (53,414) (268,498) (449,500) (55,522) (69,419) (676,173) (473,129) (68,807) (84,128) (603,957) (422,384) (134,183) (5,488) 543 - - (543) 431 (7,555,915) (8,541,023) (7,948,400) 1,598 (5,337,887) (6,096,863) (5,654,358) - (137,850) (277,117) (1,167) (1,016,486) (1,110,921) (226,843) (944,304) - (35,033) (61,114) (54,177) (837,641) (797,109) (860,927) (142,494) (147,790) (165,889) (48,425) (50,109) (41,902) - - (1,063,692) (1,056,122) (1,122,895) 902 1,335 478,847 879,167 747,059 2,129,536 2,702,154 2,123,063 1,407,222 1,484,173 1,462,344 621,127 706,767 707,305 (39) (74) 183 4,636,759 5,773,089 5,041,289 - - - (5,957) (21,054) (7,695) (23,211) (6,732) (27,113) 31,296 (154,984) (169,255) 48,095 (200,284) (175,437) 54,308 (265,521) (139,867) 76,744 (234,994) (632,746) 89,871 (434,266) (713,637) 83,214 (402,618) (603,682) 28,877 (107,827) (148,088) 32,179 (102,834) (146,478) 29,408 (99,856) (161,656) 10,234 (61,284) (94,174) 11,420 (64,674) (92,020) 11,067 (65,766) (88,585) - - 147,151 (565,046) 181,565 (809,753) 177,997 (840,493) (182) (1,065,278) (1,150,709) (1,021,085) GROSS OPERATING RESULT (26,945) (30,004) (32,510) 185,904 551,541 395,979 1,338,540 1,644,122 1,199,977 1,180,184 1,267,040 1,230,240 475,903 561,493 564,021 1 3,153,586 3,994,192 3,357,708 Depreciation and amortization expense Impairment (losses) reversals recognized in profit or loss Gains (losses) for impairment in accordance with IFRS 9 - - - - - - - (160,424) (143,179) (173,774) (393,848) (488,163) (375,937) (181,986) (195,488) (193,432) (121,841) (121,500) (119,297) - (858,099) (948,330) (862,440) - - - 66,987 - - - - 3,433 (5,234) - (1,307) - - - 2,126 61,753 - (44,434) (42,541) (56,654) (167,469) (225,557) (55,843) (16,442) (6,609) (9,440) (14,027) (4,418) (564) - (242,372) (279,125) (122,501) OPERATING INCOME (26,945) (30,004) (32,510) (18,954) 365,821 232,538 777,223 930,402 768,197 981,756 1,068,376 1,022,134 340,035 434,268 444,160 - - 1 2,053,115 2,768,863 2,434,520 FINANCIAL RESULT Financial income Cash and cash equivalents Other financial income Financial costs Bank borrowings Secured and unsecured obligations Other Income from indexation units Foreign exchange profits (losses) (21,872) 25,063 4,066 20,997 (62,972) (9,190) (24,809) (28,973) (31,514) 37,675 16,018 21,657 (50,740) (11,379) (25,225) (14,136) (19,825) 47,281 7,245 40,036 (61,869) (8,084) (25,736) (28,049) - - - 16,037 (18,449) (5,237) 65,733 85,954 40,218 45,736 (148,439) (3,334) (1) (145,104) 76,698 51,520 160,817 122,200 90,691 31,509 (189,401) (4,019) 257,912 107,807 75,692 32,115 (226,859) (177) - - (185,382) 124,477 103,541 (226,682) 270,380 106,584 (292,686) 211,101 4,727 206,374 (414,707) (45,544) (67,717) (301,446) (374,162) 291,262 25,405 265,857 (679,377) (106,312) (112,770) (460,295) (430,868) 215,449 33,259 182,190 (614,811) (131,557) (124,722) (358,532) - - - (89,080) 13,953 (31,506) (119,660) (140,101) (159,753) (26,007) (30,553) (18,583) (313,107) (377,533) (332,663) 13,848 7,743 6,105 (132,205) (8,732) (91,178) (32,295) 11,548 8,573 2,975 (151,500) (10,896) (116,309) (24,295) 19,748 12,533 7,215 (177,537) (19,659) (133,916) (23,962) 6,508 2,756 3,752 (31,127) (3,223) (24,925) (2,979) 8,632 4,845 3,787 (39,268) (1,418) (27,055) (10,795) 8,583 4,451 4,132 (31,469) (2,715) (27,830) (924) - (1,303) - (149) - - (1,964) (1,388) - 83 81,385 (20,997) (20,997) 20,997 - - - 37,980 (21,656) (21,656) 21,655 38,454 (40,787) (40,787) 40,786 20,997 21,655 40,786 4,303 81,385 37,981 38,455 Share of profit (loss) of associates and joint ventures accounted for using the equity method Other gains (losses) Gain (loss) from other investments Gain (loss) from the sale of assets 475 (227) 441 - - - - - - - - - 2,658 61 54 7 810 1,080 1,041 39 2,011 74 51 23 - 870 - 870 - 2,144 1 2,143 - 386 - 386 124 - - 124 - 308 6 302 190 - - 190 - - 3,616 10,664 3,616 10,664 - - Profit (loss) before taxes (48,342) (61,745) (51,894) 49,498 528,528 492,535 485,407 558,384 337,715 862,220 928,583 862,571 317,644 414,379 425,608 81,385 37,980 38,455 1,747,812 2,406,109 2,104,990 Income tax expense (income) (3,840) 9,598 (7,137) (36,154) (132,137) (203,661) (147,963) 313,730 217,748 (286,707) (302,350) (310,823) (91,896) (125,187) (134,059) - - - (566,560) (236,346) (437,932) Profit (loss) from continuing operations PROFIT (LOSS) (52,182) (52,182) (52,147) (52,147) (59,031) (59,031) 13,344 13,344 396,391 396,391 288,874 288,874 337,444 337,444 872,114 872,114 555,463 555,463 575,513 575,513 626,233 626,233 551,748 551,748 225,748 225,748 289,192 289,192 291,549 291,549 81,385 81,385 37,980 37,980 38,455 38,455 1,181,252 2,169,763 1,667,058 1,181,252 2,169,763 1,667,058 Profit (loss) attributable to Profit (loss) attributable to owners of the parent Profit (loss) attributable to non- controlling interests IN THOUSANDS OF U.S. DOLLARS – THUS$ Country STATEMENT OF CASH FLOWS Net cash flows from (used in) operating activities Net cash flows from (used in) investing activities Net cash flows from (used in) financing activities (52,182) (52,147) (59,031) 13,344 396,391 288,874 337,444 872,114 555,463 575,513 626,233 551,748 225,748 289,192 291,549 81,385 37,980 38,455 1,181,252 2,169,763 1,667,058 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 825,197 1,614,085 1,201,381 - 356,055 555,678 465,677 Chile ( Holdings and Other) 2020 2019 2018 2020 Argentina 2019 2018 2020 Brazil 2019 2018 2020 Colombia 2019 Peru 2019 Eliminations 2018 2020 2018 2020 2019 2018 2020 2018 Totales 2019 (52,803) (49,135) (34,496) 272,134 241,095 157,539 922,297 999,122 299,827 939,651 865,922 1,030,940 342,021 454,719 390,044 2,210 15,788 711 2,425,510 2,527,511 1,844,565 175,657 (2,220,047) 348,295 (169,918) (175,679) (98,752) (755,047) (855,965) (2,434,755) (464,647) (386,559) (378,451) (176,299) (208,685) (89,786) (145,362) 2,247,137 (415,740) (1,535,616) (1,599,798) (3,069,189) (719,042) 2,475,888 (52,458) (59,659) (47,566) (23,844) (55,832) (66,875) 2,389,830 (303,393) (705,497) (601,744) (192,090) (215,929) (259,879) 143,481 (2,262,925) 415,161 (1,186,535) (822,904) 1,867,066 - - - - - - - - - - - 39 - - - - - - - - - - - - - 74 - - - - - - - - - - - - - 31 31 - (1,088,631) (1,071,759) 321,477 59,510 261,967 (768,453) (70,023) (208,630) (489,800) 76,698 57,171 449,661 145,532 304,129 (134,024) (281,359) (673,248) 124,477 136,960 358,081 133,180 224,901 (162,192) (312,204) (597,363) 270,380 110,635 3,133 4,671 54 4,617 583 14,196 1,048 13,148 2,452 681 51 630 - - - - - - - The Holding, Eliminations and Other column corresponds to transactions between companies in different lines of business and country, primarily purchases and sales of energy and services. 338338 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information IN THOUSANDS OF U.S. DOLLARS – THUS$ STATEMENTS OF COMPREHENSIVE Country INCOME (LOSS) REVENUE Revenues Energy sales Other sales RAW MATERIALS AND CONSUMABLES USED Energy purchases Fuel consumption Transportation expenses Other miscellaneous supplies and services Other work performed by the entity and capitalized Employee benefits expense Other expenses Depreciation and amortization expense Impairment (losses) reversals recognized in profit or loss Gains (losses) for impairment in accordance with IFRS 9 - - - - (99) - - - (99) 66 - - - - - - - - - - - - - - - Chile ( Holdings and Other) Argentina Brazil 2020 165 2019 902 2018 1,335 2020 2019 2018 2020 2019 2018 1,030,361 1,782,532 1,516,392 7,580,444 8,608,890 7,489,756 - - - - 995,970 958,852 2,431 34,687 34,391 1,481,493 1,435,040 2,771 43,682 301,039 1,488,830 1,443,845 6,696,125 5,944,342 7,685,111 6,805,945 6,520,243 5,865,566 191 44,794 27,562 698 751,085 884,319 3,755 875,411 923,779 2,225 652,452 969,513 Other services rendered Other income 165 902 1,335 Colombia 2019 2,538,922 2,513,971 1,734,645 28,737 750,589 24,951 2020 2,337,750 2,311,045 1,564,664 23,990 722,391 26,705 2018 2,671,192 2,642,886 1,868,279 23,232 751,375 28,306 2020 1,243,993 1,235,836 1,187,354 9,849 38,633 8,157 Peru 2019 1,382,940 1,372,801 1,306,624 23,489 42,688 10,139 2018 1,311,262 1,272,802 1,231,486 23,320 17,996 38,460 Eliminations 2020 (39) 2019 (74) - - - - - - - - (39) (74) 2018 (248) 2020 12,192,674 - 11,238,976 9,655,212 - 36,968 - 1,546,796 - 953,698 (248) Totales 2019 14,314,112 13,053,376 11,282,254 58,752 1,712,370 1,260,736 2018 12,989,689 11,924,761 10,409,176 48,968 1,466,617 1,064,928 CONTRIBUTION MARGIN 902 1,335 478,847 879,167 747,059 2,129,536 2,702,154 2,123,063 1,407,222 1,484,173 1,462,344 621,127 706,767 707,305 (39) (74) 183 4,636,759 5,773,089 5,041,289 - - - - (551,514) (490,953) (1,180) (24,348) (903,365) (769,333) (5,450,908) (5,906,736) (5,366,693) (715,723) (100,579) (25,949) (656,647) (3,896,510) (4,311,902) (3,855,878) (21,095) (37,414) (41,363) (675,394) (58,506) (739,219) (18,151) (631,737) (930,528) (500,924) (39,785) (247,325) (1,054,749) (596,652) (49,225) (261,082) (1,208,848) (721,047) (53,414) (268,498) (622,866) (449,500) (55,522) (69,419) (676,173) (473,129) (68,807) (84,128) (603,957) (422,384) (134,183) (5,488) - (35,033) (61,114) (54,177) (837,641) (797,109) (860,927) (142,494) (147,790) (165,889) (48,425) (50,109) (41,902) - - - - - - 543 - (543) 431 1,598 - (1,167) (7,555,915) (5,337,887) (137,850) (1,016,486) (8,541,023) (6,096,863) (277,117) (1,110,921) (7,948,400) (5,654,358) (226,843) (944,304) - - (1,063,692) (1,056,122) (1,122,895) - - - (5,957) (21,054) (7,695) (23,211) (6,732) (27,113) 31,296 (154,984) (169,255) 48,095 (200,284) (175,437) 54,308 (265,521) (139,867) 76,744 (234,994) (632,746) 89,871 (434,266) (713,637) 83,214 (402,618) (603,682) 28,877 (107,827) (148,088) 32,179 (102,834) (146,478) 29,408 (99,856) (161,656) 10,234 (61,284) (94,174) 11,420 (64,674) (92,020) 11,067 (65,766) (88,585) GROSS OPERATING RESULT (26,945) (30,004) (32,510) 185,904 551,541 395,979 1,338,540 1,644,122 1,199,977 1,180,184 1,267,040 1,230,240 475,903 561,493 564,021 - (160,424) (143,179) (173,774) (393,848) (488,163) (375,937) (181,986) (195,488) (193,432) (121,841) (121,500) (119,297) - - - 66,987 - - - - 3,433 (5,234) - (1,307) - - (44,434) (42,541) (56,654) (167,469) (225,557) (55,843) (16,442) (6,609) (9,440) (14,027) (4,418) (564) - - 39 - - - - - - 74 - - - - - - (182) 147,151 (565,046) (1,065,278) 181,565 (809,753) (1,150,709) 177,997 (840,493) (1,021,085) 1 3,153,586 3,994,192 3,357,708 - (858,099) (948,330) (862,440) - - 2,126 61,753 - (242,372) (279,125) (122,501) OPERATING INCOME (26,945) (30,004) (32,510) (18,954) 365,821 232,538 777,223 930,402 768,197 981,756 1,068,376 1,022,134 340,035 434,268 444,160 - - 1 2,053,115 2,768,863 2,434,520 (21,872) (31,514) (19,825) 257,912 (292,686) (374,162) (430,868) FINANCIAL RESULT Financial income Cash and cash equivalents Other financial income Financial costs Bank borrowings Secured and unsecured obligations Other 25,063 4,066 20,997 (62,972) (9,190) (24,809) (28,973) 37,675 16,018 21,657 (50,740) (11,379) (25,225) (14,136) 47,281 7,245 40,036 (61,869) (8,084) (25,736) (28,049) Income from indexation units - - - Foreign exchange profits (losses) 16,037 (18,449) (5,237) 65,733 85,954 40,218 45,736 (148,439) (3,334) (1) (145,104) 76,698 51,520 160,817 122,200 90,691 31,509 (189,401) (4,019) (185,382) 124,477 103,541 - 107,807 75,692 32,115 (226,859) (177) - (226,682) 270,380 106,584 211,101 4,727 206,374 (414,707) (45,544) (67,717) 291,262 25,405 265,857 (679,377) (106,312) (112,770) 215,449 33,259 182,190 (614,811) (131,557) (124,722) (301,446) (460,295) (358,532) - - - (89,080) 13,953 (31,506) (119,660) 13,848 7,743 6,105 (132,205) (8,732) (91,178) (32,295) (140,101) 11,548 8,573 2,975 (151,500) (10,896) (116,309) (24,295) (159,753) 19,748 12,533 7,215 (177,537) (19,659) (133,916) (23,962) (26,007) 6,508 2,756 3,752 (31,127) (3,223) (24,925) (2,979) (30,553) 8,632 4,845 3,787 (39,268) (1,418) (27,055) (10,795) (18,583) 8,583 4,451 4,132 (31,469) (2,715) (27,830) (924) 81,385 (20,997) 37,980 (21,656) 38,454 (40,787) - - - (20,997) 20,997 (21,656) 21,655 (40,787) 40,786 - - - - - - 20,997 21,655 40,786 - (1,303) - (149) - - (1,964) (1,388) - 83 - - - - 4,303 81,385 37,981 38,455 (313,107) 321,477 59,510 261,967 (768,453) (70,023) (208,630) (489,800) 76,698 57,171 (377,533) 449,661 145,532 304,129 (1,088,631) (134,024) (281,359) (673,248) 124,477 136,960 (332,663) 358,081 133,180 224,901 (1,071,759) (162,192) (312,204) (597,363) 270,380 110,635 Share of profit (loss) of associates and joint ventures accounted for using the equity method Other gains (losses) Gain (loss) from other investments Gain (loss) from the sale of assets Profit (loss) attributable to owners of the parent Profit (loss) attributable to non- controlling interests Net cash flows from (used in) operating activities Net cash flows from (used in) investing activities Net cash flows from (used in) financing activities 475 (227) 441 2,658 - - - - - - - - - 61 54 7 810 1,080 1,041 39 2,011 74 51 23 870 - - 870 - 2,144 1 2,143 386 - - 386 - 124 - 124 - 308 6 302 - 190 - 190 - - 3,616 10,664 - - 3,616 10,664 - 31 - 31 - - - - - - - - - - - - 3,133 4,671 54 4,617 583 14,196 1,048 13,148 2,452 681 51 630 Profit (loss) before taxes (48,342) (61,745) (51,894) 49,498 528,528 492,535 485,407 558,384 337,715 862,220 928,583 862,571 317,644 414,379 425,608 81,385 37,980 38,455 1,747,812 2,406,109 2,104,990 Income tax expense (income) (3,840) 9,598 (7,137) (36,154) (132,137) (203,661) (147,963) 313,730 217,748 (286,707) (302,350) (310,823) (91,896) (125,187) (134,059) - - - (566,560) (236,346) (437,932) Profit (loss) from continuing operations PROFIT (LOSS) (52,182) (52,182) (52,147) (52,147) (59,031) (59,031) 13,344 13,344 396,391 396,391 288,874 288,874 337,444 337,444 872,114 872,114 555,463 555,463 575,513 575,513 626,233 626,233 551,748 551,748 225,748 225,748 289,192 289,192 291,549 291,549 81,385 81,385 37,980 37,980 38,455 38,455 1,181,252 1,181,252 2,169,763 2,169,763 1,667,058 1,667,058 Profit (loss) attributable to (52,182) (52,147) (59,031) 13,344 396,391 288,874 337,444 872,114 555,463 575,513 626,233 551,748 225,748 289,192 291,549 81,385 37,980 38,455 1,181,252 2,169,763 1,667,058 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 825,197 1,614,085 1,201,381 - 356,055 555,678 465,677 IN THOUSANDS OF U.S. DOLLARS – THUS$ Country Chile ( Holdings and Other) STATEMENT OF CASH FLOWS 2020 2019 2018 2020 2018 2020 2018 Argentina 2019 Brazil 2019 2020 Colombia 2019 2018 2020 Peru 2019 2018 2020 2019 2018 2020 Eliminations Totales 2019 2018 (52,803) (49,135) (34,496) 272,134 241,095 157,539 922,297 999,122 299,827 939,651 865,922 1,030,940 342,021 454,719 390,044 2,210 15,788 711 2,425,510 2,527,511 1,844,565 175,657 (2,220,047) 348,295 (169,918) (175,679) (98,752) (755,047) (855,965) (2,434,755) (464,647) (386,559) (378,451) (176,299) (208,685) (89,786) (145,362) 2,247,137 (415,740) (1,535,616) (1,599,798) (3,069,189) (719,042) 2,475,888 (52,458) (59,659) (47,566) (23,844) (55,832) (66,875) 2,389,830 (303,393) (705,497) (601,744) (192,090) (215,929) (259,879) 143,481 (2,262,925) 415,161 (1,186,535) (822,904) 1,867,066 The Holding, Eliminations and Other column corresponds to transactions between companies in different lines of business and country, primarily purchases and sales of energy and services. 339 Annual Report Enel Américas 2020 34.3 Segment information by country IN THOUSANDS OF U.S. DOLLARS – THUS$ Country ASSETS CURRENT ASSETS Cash and cash equivalents Other current financial assets Other current non-financial assets Trade and other current receivables Current accounts receivable from related parties Inventories Current tax assets Non-current assets or disposal groups held-for-sale or held for distribution to owners Chile ( Holdings and Other) Argentina Brazil Colombia Peru Eliminations Totales 12-31-2020 12-31-2019 12-31-2020 12-31-2019 249.106 8.050 116 16.730 1.587 213.077 709.462 634.221 1.637 3.811 839 59.808 - 9.546 - 9.146 603.494 139.448 65.382 42.123 310.882 148 42.883 2.628 626.439 130.856 - 47.708 386.317 12.368 31.075 18.115 12-31-2020 4.138.518 12-31-2019 4.304.036 741.381 160.734 411.573 699.524 115.002 376.857 2.407.709 2.691.586 38.761 272.754 105.606 109.394 236.485 75.188 - - - - - - - 11.326 - - 11.326 NON-CURRENT ASSETS 10.473.781 10.105.798 2.468.259 2.622.717 11.374.761 13.482.703 4.397.892 4.371.244 2.382.886 2.561.433 (10.343.277) (9.948.765) 20.754.302 23.195.130 Other non-current financial assets Other non-current non-financial assets Trade and other non-current receivables Non-current accounts receivable from related parties Investments accounted for using the equity method - - 2.980 77 225.000 10.245.701 3.125 126 375.000 9.726.059 Intangible assets other than goodwill Goodwill Property, plant and equipment Investment properties Right-of-use asset Deferred tax assets - - - - 24 (1) - - - - 19 1.469 25.461 898 268.536 32 315.981 61.159 4.523 3.209 3.354 308.730 68 357.963 30.519 4.665 1.762.799 1.888.301 - 124 28.746 - 18 25.890 2.765.194 2.272.857 276.346 - - 3.046.431 2.690.639 236.555 17.039 - 4.256.831 5.306.273 494.129 304.256 7.942 43.099 954.107 638.031 401.190 10.254 75.419 1.060.872 TOTAL ASSETS 10.722.887 10.815.260 3.071.753 3.249.156 15.513.279 17.786.739 5.248.364 4.931.261 2.929.146 3.113.276 (10.551.871) (10.119.308) 26.933.558 29.776.384 The Eliminations column corresponds to transactions between companies in different lines of business and country, primarily purchases and sales of energy and services. IN THOUSANDS OF U.S. DOLLARS – THUS$ Country LIABILITIES AND EQUITY CURRENT LIABILITIES Other current financial liabilities Current lease liability Trade and other current payables Current accounts payable to related parties Other current provisions Current tax liabilities Other current non-financial liabilities Liabilities associated with groups of assets or disposal groups held for sale or distribution to owners NON-CURRENT LIABILITIES Other non-current financial liabilities Non-current lease liability Trade and other non-current payables Non-current accounts payable to related parties Other long-term provisions Deferred tax liabilities Non-current provisions for employee benefits Other non-current non-financial liabilities EQUITY Equity attributable to shareholders of Enel Américas Share and paid-in capital Retained earnings (losses) Issuance premiums Treasury shares in portfolio Other reserves Chile ( Holdings and Other) Argentina Brazil Colombia Peru Eliminations Totales 12-31-2020 12-31-2019 12-31-2020 12-31-2019 595.828 339.842 19 46.970 208.628 - - 369 508.799 362.520 11 62.072 83.446 561 - 189 689.017 746.901 6.088 78 527.729 31.787 45.167 44.383 33.785 7.282 7 438.227 119.403 44.825 92.080 45.077 12-31-2020 4.192.739 797.217 15.702 12-31-2019 3.918.889 813.061 26.422 2.758.445 2.569.032 337.202 77.844 33.986 172.343 134.906 144.977 6.741 223.750 - - - - - - - 3.791 - - - - - 3.791 597.203 591.722 598.977 595.990 - - - - 2.521 2.960 - 8 - - - - 2.979 - 9.529.856 9.529.856 9.763.079 3.008.390 - - 9.707.484 9.707.484 9.783.875 3.186.021 - - 509.899 40.785 45 86.559 - 19.760 286.936 13.920 61.894 1.872.837 1.872.837 953.561 -121.454 - - 616.239 40.649 7 152.240 16.228 23.710 311.503 14.178 57.724 1.886.016 1.886.016 936.444 238.459 - - (3.241.613) (3.262.412) 1.040.730 711.113 6.168.982 1.539.623 35.901 1.962.061 369.498 714.757 40.030 1.476.884 30.228 5.151.558 5.151.558 3.695.565 197.561 575.327 (21.375) 704.480 7.528.770 2.330.394 58.800 2.171.886 387.076 848.183 26.428 1.683.453 22.550 6.339.080 6.339.080 4.123.929 597.534 742.877 - 874.740 Non-controlling interests - - - - - - - - - - 2.227.804 2.279.899 Total Liabilities and Equity 10.722.887 10.815.260 3.071.753 3.249.156 15.513.279 17.786.739 5.248.364 4.931.261 2.929.146 3.113.276 (10.551.871) (10.119.308) 26.933.558 29.776.384 340340 12-31-2020 12-31-2019 12-31-2020 12-31-2019 12-31-2020 12-31-2019 12-31-2020 12-31-2019 546.260 234.857 - 62.864 182.959 2.496 53.015 10.069 551.843 287.634 232 44.845 164.630 4.223 45.527 4.752 (208.594) (170.543) 728 (209.322) 953 (171.496) 850.472 383.257 4.047 27.496 331.070 1.790 102.781 31 153 33.029 33.565 127 135.881 5.601 560.017 186.762 3.512 12.941 260.132 2.072 83.152 120 171 21.844 42.546 141 125.795 5.835 55 23.092 16.760 - - - - - - - - - - - - (225.000) (10.559.536) (391.260) (10.082.185) 70.955 65.292 - 441.259 524.512 4.158.620 4.162.924 2.128.997 2.311.023 - 19.639 11.277 11.988 - - 159.534 253 - 168.355 3 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 168 - - - - - - - - - - - - - - 6 - - - - 6.179.256 1.506.993 230.279 560.786 3.234.935 46.950 471.433 127.880 2.790.863 2.332.856 578.524 32 2.273 4.524.826 945.512 8.354.672 7.942 222.420 994.382 7.277.222 1.825.130 51.495 4.093.576 597.122 220.425 222.870 266.604 9.322.673 3.837.706 91.070 2.061.475 144.391 833.900 612.953 1.624.217 116.961 6.581.254 1.938.997 120.383 486.162 3.504.457 16.369 396.239 107.321 3.049.811 2.735.890 587.957 847 1.978 5.527.879 1.173.043 8.763.438 10.254 255.799 1.088.234 6.735.932 1.408.407 81.644 3.920.045 494.511 286.052 220.727 320.755 10.794.266 4.781.833 108.625 2.335.997 - 976.327 643.854 1.836.362 111.268 12-31-2019 12-31-2020 12-31-2019 12-31-2020 12-31-2019 12-31-2020 12-31-2019 (33.920) 202.635 61.365 (95.285) 155.032 47.603 (225.107) (403.298) - (225.107) (403.304) 12-31-2020 1.206.026 454.167 4.792 492.040 72.213 40.176 110.724 31.914 1.537.229 1.251.199 15.639 1.136 - 78.504 63.683 124.248 2.820 2.505.109 2.505.109 195.415 972.249 88.781 - - 876.231 169.543 6.002 460.442 62.468 38.297 108.167 27.521 1.648.410 1.404.406 6.191 997 - 49.659 51.332 129.507 6.318 2.406.620 2.406.620 203.580 854.096 92.490 - - 627.532 227.816 30.904 207.027 42.577 57.238 33.777 28.193 734.467 414.377 39.485 11.719 - 20.879 219.783 6.205 22.019 1.567.147 1.567.147 1.483.352 272.808 1.612 - 482.477 56.001 49.202 235.240 46.685 57.392 13.739 24.218 805.168 410.394 43.619 10.868 54.775 254.591 6.245 24.676 1.825.631 1.618.125 434.988 1.758 - 1.248.664 1.256.454 (190.625) (229.240) (2.362.755) (7.072.917) (5.291.999) 1.825.631 (10.292.844) (9.918.645) 10.333.663 12.246.186 (10.292.844) (6.327.894) 1.086.144 (665.720) 21.375 (4.406.749) (9.918.645) (6.882.078) 163.313 (837.125) - 8.105.859 9.763.078 5.415.698 9.966.287 9.783.875 5.474.411 - - - - 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationChile ( Holdings and Other) Argentina Brazil Colombia Peru Eliminations Totales 12-31-2020 12-31-2019 12-31-2020 12-31-2019 12-31-2020 12-31-2019 12-31-2020 12-31-2019 12-31-2020 12-31-2019 12-31-2020 12-31-2019 850.472 383.257 4.047 27.496 331.070 1.790 102.781 31 560.017 186.762 3.512 12.941 260.132 2.072 83.152 120 546.260 234.857 - 62.864 182.959 2.496 53.015 10.069 551.843 287.634 232 44.845 164.630 4.223 45.527 4.752 - - - - - 11.326 - - (208.594) (170.543) - - - - - - 728 (209.322) 953 (171.496) - - - - - - 6.179.256 1.506.993 230.279 560.786 3.234.935 46.950 471.433 127.880 6.581.254 1.938.997 120.383 486.162 3.504.457 16.369 396.239 107.321 - 11.326 NON-CURRENT ASSETS 10.473.781 10.105.798 2.468.259 2.622.717 11.374.761 13.482.703 4.397.892 4.371.244 2.382.886 2.561.433 (10.343.277) (9.948.765) 20.754.302 23.195.130 Other non-current financial assets Other non-current non-financial assets Trade and other non-current receivables Non-current accounts receivable from related parties Investments accounted for using the equity method 2.980 77 225.000 10.245.701 3.125 126 375.000 9.726.059 Intangible assets other than goodwill Goodwill Property, plant and equipment Investment properties Right-of-use asset Deferred tax assets 3.209 3.354 308.730 68 357.963 30.519 4.665 2.765.194 2.272.857 276.346 - - 3.046.431 2.690.639 236.555 17.039 - 4.256.831 5.306.273 494.129 304.256 7.942 43.099 954.107 638.031 401.190 10.254 75.419 1.060.872 1.762.799 1.888.301 - 124 28.746 - 18 25.890 19 1.469 153 33.029 33.565 171 21.844 42.546 - - 127 135.881 5.601 141 125.795 5.835 55 23.092 - - - - 16.760 - - - - - - - 168 - (225.000) (10.559.536) (391.260) (10.082.185) 70.955 65.292 - - - - 441.259 524.512 4.158.620 4.162.924 2.128.997 2.311.023 - 19.639 11.277 - 11.988 - - - 159.534 253 168.355 3 - - - - - - - - 2.790.863 2.332.856 578.524 32 2.273 4.524.826 945.512 8.354.672 7.942 222.420 994.382 3.049.811 2.735.890 587.957 847 1.978 5.527.879 1.173.043 8.763.438 10.254 255.799 1.088.234 TOTAL ASSETS 10.722.887 10.815.260 3.071.753 3.249.156 15.513.279 17.786.739 5.248.364 4.931.261 2.929.146 3.113.276 (10.551.871) (10.119.308) 26.933.558 29.776.384 Chile ( Holdings and Other) Argentina Brazil Colombia Peru Eliminations Totales 12-31-2020 1.206.026 454.167 4.792 492.040 72.213 40.176 110.724 31.914 12-31-2019 12-31-2020 12-31-2019 12-31-2020 12-31-2019 12-31-2020 12-31-2019 876.231 169.543 6.002 460.442 62.468 38.297 108.167 27.521 627.532 227.816 30.904 207.027 42.577 57.238 33.777 28.193 482.477 56.001 49.202 235.240 46.685 57.392 13.739 24.218 (33.920) 202.635 - - 61.365 (95.285) - - - - - 155.032 47.603 - - - 7.277.222 1.825.130 51.495 4.093.576 597.122 220.425 222.870 266.604 6.735.932 1.408.407 81.644 3.920.045 494.511 286.052 220.727 320.755 disposal groups held for sale or distribution to owners - - - - - - - 3.791 - - - - - 3.791 34.3 Segment information by country IN THOUSANDS OF U.S. DOLLARS – THUS$ Country ASSETS CURRENT ASSETS Cash and cash equivalents Other current financial assets Other current non-financial assets Trade and other current receivables Current accounts receivable from related parties Inventories Current tax assets Non-current assets or disposal groups held-for-sale or held for distribution to owners 249.106 8.050 116 16.730 1.587 213.077 709.462 634.221 1.637 3.811 839 59.808 - 9.546 - 9.146 - - - - - - 24 (1) - - - - - - 603.494 139.448 65.382 42.123 310.882 148 42.883 2.628 25.461 898 268.536 32 315.981 61.159 4.523 12-31-2020 4.138.518 12-31-2019 4.304.036 626.439 130.856 - 47.708 386.317 12.368 31.075 18.115 741.381 160.734 411.573 38.761 272.754 105.606 699.524 115.002 376.857 109.394 236.485 75.188 2.407.709 2.691.586 The Eliminations column corresponds to transactions between companies in different lines of business and country, primarily purchases and sales of energy and services. IN THOUSANDS OF U.S. DOLLARS – THUS$ Country LIABILITIES AND EQUITY CURRENT LIABILITIES Other current financial liabilities Current lease liability Trade and other current payables Current accounts payable to related parties Other current provisions Current tax liabilities Other current non-financial liabilities Liabilities associated with groups of assets or NON-CURRENT LIABILITIES Other non-current financial liabilities Non-current lease liability Trade and other non-current payables Non-current accounts payable to related parties Other long-term provisions Deferred tax liabilities Non-current provisions for employee benefits Other non-current non-financial liabilities EQUITY Equity attributable to shareholders of Enel Américas Share and paid-in capital Retained earnings (losses) Issuance premiums Treasury shares in portfolio Other reserves Non-controlling interests 12-31-2020 12-31-2019 12-31-2020 12-31-2019 689.017 746.901 595.828 339.842 19 46.970 208.628 - - 369 508.799 362.520 11 62.072 83.446 561 - 189 597.203 591.722 598.977 595.990 - - - - - 2.521 2.960 9.529.856 9.529.856 9.763.079 3.008.390 - - - 2.979 9.707.484 9.707.484 9.783.875 3.186.021 8 - - - - - - - - 6.088 78 527.729 31.787 45.167 44.383 33.785 509.899 40.785 45 86.559 19.760 286.936 13.920 61.894 - 7.282 7 438.227 119.403 44.825 92.080 45.077 616.239 40.649 7 152.240 16.228 23.710 311.503 14.178 57.724 1.872.837 1.872.837 953.561 -121.454 1.886.016 1.886.016 936.444 238.459 - - - - - - 12-31-2020 4.192.739 797.217 15.702 12-31-2019 3.918.889 813.061 26.422 2.758.445 2.569.032 337.202 77.844 33.986 172.343 134.906 144.977 6.741 223.750 6.168.982 1.539.623 35.901 1.962.061 369.498 714.757 40.030 1.476.884 30.228 5.151.558 5.151.558 3.695.565 197.561 575.327 (21.375) 704.480 7.528.770 2.330.394 58.800 2.171.886 387.076 848.183 26.428 1.683.453 22.550 6.339.080 6.339.080 4.123.929 597.534 742.877 874.740 - - 1.537.229 1.251.199 15.639 1.136 - 78.504 63.683 124.248 2.820 2.505.109 2.505.109 195.415 972.249 88.781 1.648.410 1.404.406 6.191 997 - 49.659 51.332 129.507 6.318 2.406.620 2.406.620 203.580 854.096 92.490 - - 734.467 414.377 39.485 11.719 - 20.879 219.783 6.205 22.019 1.567.147 1.567.147 1.483.352 272.808 1.612 - 805.168 410.394 43.619 10.868 (225.107) (403.298) - - - - - 6 - (225.107) (403.304) 54.775 254.591 6.245 24.676 - - - - - - - - 9.322.673 3.837.706 91.070 2.061.475 144.391 833.900 612.953 1.624.217 116.961 10.794.266 4.781.833 108.625 2.335.997 - 976.327 643.854 1.836.362 111.268 1.825.631 (10.292.844) (9.918.645) 10.333.663 12.246.186 (10.292.844) (6.327.894) 1.086.144 (665.720) 21.375 (4.406.749) (9.918.645) (6.882.078) 163.313 (837.125) - 8.105.859 9.763.078 5.415.698 9.966.287 9.783.875 5.474.411 - - - - (2.362.755) (7.072.917) (5.291.999) (3.241.613) (3.262.412) 1.040.730 711.113 1.248.664 1.256.454 (190.625) (229.240) 1.825.631 1.618.125 434.988 1.758 - Total Liabilities and Equity 10.722.887 10.815.260 3.071.753 3.249.156 15.513.279 17.786.739 5.248.364 4.931.261 2.929.146 3.113.276 (10.551.871) (10.119.308) 26.933.558 29.776.384 - - - - - - - 2.227.804 2.279.899 341 Annual Report Enel Américas 2020Distribution Holdings, Eliminations and Other 2018 2020 (785,844) 12,192,674 14,314,112 12,989,689 - - - 2018 10,739,115 9,748,895 8,286,321 4,158 1,458,416 990,220 (7,456,629) (5,637,926) (811,849) (1,006,854) 3,282,486 168,530 (694,262) (816,247) 1,940,507 (567,471) (5,234) (116,704) 1,251,098 (216,603) 223,121 27,301 195,820 (690,462) (101,105) (135,140) (454,217) 260,137 (9,399) 2019 12,116,249 10,905,824 9,217,909 9,805 1,678,110 1,210,425 (8,175,432) (6,323,836) (903,489) (948,107) 3,940,817 171,479 (671,025) (937,650) 2,503,621 (683,668) 3,433 (279,234) 1,544,152 (261,637) 285,720 26,372 259,348 (745,402) (92,211) (175,496) (477,695) 206,845 (8,800) 12,909 20 6 12,903 2020 (777,969) (777,486) (736,505) (544) (40,437) (483) 772,503 729,245 49,041 (5,783) (5,466) 59 (21,490) (59,709) (86,606) (3,634) - 102 (90,138) (37,040) 4,737 11,944 (7,207) (20,407) (9,402) (24,808) 13,803 846 (22,216) 475 4 4 - 2019 (859,193) (859,867) (821,024) 1 (38,844) 674 852,860 805,346 (1) 52,849 (5,334) (6,333) 63 (24,502) (76,533) (107,305) (2,704) - (536) (110,545) (120,684) 10,273 19,923 (9,650) (164,251) (29,210) (25,225) (109,816) 1,391 31,903 - (786,029) (692,024) (94,005) 185 788,784 741,482 54,656 (7,354) 2,940 - - (23,373) (64,807) (85,240) 750 - (799) (85,289) (186,280) 18,131 21,626 (3,495) (178,114) (42,866) (78,085) (57,163) 1,428 (27,725) Total 2019 13,053,376 11,282,254 58,752 1,712,370 1,260,736 (8,541,023) (6,096,863) (277,117) (1,110,921) (1,056,122) 5,773,089 181,565 (809,753) (1,150,709) 3,994,192 (948,330) 2,126 (279,125) 2,768,863 (377,533) 449,661 145,532 304,129 (134,024) (281,359) (673,248) 124,477 136,960 583 14,196 1,048 13,148 11,238,976 9,655,212 36,968 1,546,796 953,698 (7,555,915) (5,337,887) (137,850) (1,016,486) (1,063,692) 4,636,759 147,151 (565,046) (1,065,278) 3,153,586 (858,099) - (242,372) 2,053,115 (313,107) 321,477 59,510 261,967 (768,453) (70,023) (208,630) (489,800) 76,698 57,171 3,133 4,671 54 4,617 2018 11,924,761 10,409,176 48,968 1,466,617 1,064,928 (7,948,400) (5,654,358) (226,843) (944,304) (1,122,895) 5,041,289 177,997 (840,493) (1,021,085) 3,357,708 (862,440) 61,753 (122,501) 2,434,520 (332,663) 358,081 133,180 224,901 (162,192) (312,204) (597,363) 270,380 110,635 2,452 681 51 630 (1,088,631) (1,071,759) The Eliminations column corresponds to transactions between companies in different lines of business and country, primarily purchases and sales of energy and services. IN THOUSANDS OF U.S. DOLLARS – THUS$ Line of business STATEMENTS OF COMPREHENSIVE INCOME (LOSS) REVENUE Revenues Energy sales Other sales Other services rendered Other income RAW MATERIALS AND CONSUMABLES USED Energy purchases Fuel consumption Transportation expenses Other miscellaneous supplies and services CONTRIBUTION MARGIN Other work performed by the entity and capitalized Employee benefits expense Other expenses GROSS OPERATING RESULT Depreciation and amortization expense Impairment (losses) reversals recognized in profit or loss Gains (losses) for impairment in accordance with IFRS 9 OPERATING INCOME FINANCIAL RESULT Financial income Cash and cash equivalents Other financial income Financial costs Bank borrowings Secured and unsecured obligations Other Income from indexation units Foreign exchange profits (losses) 2020 3,000,829 2,977,178 2,880,510 32,291 64,377 23,651 (1,375,163) (918,086) (137,850) (226,531) (92,696) 1,625,666 3,946 (101,339) (145,700) 1,382,573 (240,241) - (934) 1,141,398 (56,160) 93,720 32,879 60,841 (149,750) (3,945) (70,317) (75,488) (85,734) 85,604 Generation 2019 3,057,056 3,007,419 2,885,369 48,946 73,104 49,637 (1,218,451) (578,373) (277,116) (260,281) (102,681) 1,838,605 10,023 (114,226) (136,526) 1,597,876 (261,958) (1,307) 645 1,335,256 4,788 153,668 99,237 54,431 (178,978) (12,603) (80,638) (85,737) (83,759) 113,857 2018 3,036,418 2,961,895 2,814,879 44,810 102,206 74,523 (1,280,555) (757,914) (226,843) (187,111) (108,687) 1,755,863 9,467 (122,858) (140,031) 1,502,441 (295,719) 66,987 (4,998) 1,268,711 70,220 116,829 84,253 32,576 (203,183) (18,221) (98,979) (85,983) 8,815 147,759 2020 9,969,814 9,039,284 7,511,207 5,221 1,522,856 930,530 (6,953,255) (5,149,046) - (838,996) (965,213) 3,016,559 143,146 (442,217) (859,869) 1,857,619 (614,224) - (241,540) 1,001,855 (219,907) 223,020 14,687 208,333 (598,296) (56,676) (113,505) (428,115) 161,586 (6,217) Share of profit (loss) of associates and joint ventures accounted for using the equity method Other gains (losses) Gain (loss) from other investments Gain (loss) from the sale of assets 2,630 3,764 50 3,714 790 1,287 1,042 245 2,171 135 51 84 28 903 - 903 (160) 546 - 546 (227) 441 - - - - - - Profit (loss) before taxes 1,091,632 1,342,121 1,341,237 782,879 1,295,444 1,034,881 (126,699) (231,456) (271,128) 1,747,812 2,406,109 2,104,990 Income tax expense (income) (326,573) (419,338) (449,235) (278,107) 160,650 (24,007) 38,120 22,342 35,310 (566,560) (236,346) (437,932) Profit (loss) from continuing operations PROFIT (LOSS) 765,059 765,059 922,783 922,783 892,002 892,002 504,772 504,772 1,456,094 1,456,094 1,010,874 1,010,874 (88,579) (88,579) (209,114) (209,114) (235,818) (235,818) 1,181,252 1,181,252 2,169,763 2,169,763 1,667,058 1,667,058 Profit (loss) attributable to Profit (loss) attributable to owners of the parent Profit (loss) attributable to non-controlling interests 765,059 922,783 892,002 504,772 1,456,094 1,010,874 (88,579) (209,114) (235,818) - - - - - - - - - - - - - - - - - - 1,181,252 825,197 356,055 2,169,763 1,614,085 555,678 1,667,058 1,201,381 465,677 IN THOUSANDS OF U.S. DOLLARS – THUS$ Line of business STATEMENT OF CASH FLOWS Net cash flows from (used in) operating activities Net cash flows from (used in) investing activities Net cash flows from (used in) financing activities 2020 1,109,985 (164,687) (797,743) Generation 2019 1,052,312 (84,523) (1,039,947) 2018 1,197,918 (103,167) (865,538) 2020 1,448,867 (1,364,627) 40,508 Distribution Holdings, Eliminations and Other 2019 1,603,242 (1,471,137) (64,693) 2018 771,791 (1,022,549) 367,923 2020 (133,342) (6,302) (429,300) 2019 (128,043) (44,138) 281,736 2018 (125,144) (1,943,473) 2,364,681 2020 2,425,510 (1,535,616) (1,186,535) Total 2019 2,527,511 (1,599,798) (822,904) 2018 1,844,565 (3,069,189) 1,867,066 The Eliminations column corresponds to transactions between companies in different lines of business and country, primarily purchases and sales of energy and services. 342342 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationThe Eliminations column corresponds to transactions between companies in different lines of business and country, primarily purchases and sales of energy and services. RAW MATERIALS AND CONSUMABLES USED (1,375,163) (1,218,451) (1,280,555) IN THOUSANDS OF U.S. DOLLARS – THUS$ STATEMENTS OF COMPREHENSIVE INCOME (LOSS) Line of business REVENUE Revenues Energy sales Other sales Other services rendered Other income Energy purchases Fuel consumption Transportation expenses Other miscellaneous supplies and services CONTRIBUTION MARGIN Other work performed by the entity and capitalized Employee benefits expense Other expenses GROSS OPERATING RESULT Depreciation and amortization expense Impairment (losses) reversals recognized in profit or loss Gains (losses) for impairment in accordance with IFRS 9 OPERATING INCOME FINANCIAL RESULT Financial income Cash and cash equivalents Other financial income Financial costs Bank borrowings Secured and unsecured obligations Other Income from indexation units Foreign exchange profits (losses) using the equity method Other gains (losses) Gain (loss) from other investments Gain (loss) from the sale of assets Share of profit (loss) of associates and joint ventures accounted for 1,625,666 1,838,605 1,755,863 3,016,559 2020 3,000,829 2,977,178 2,880,510 32,291 64,377 23,651 (918,086) (137,850) (226,531) (92,696) 3,946 (101,339) (145,700) 1,382,573 (240,241) - (934) 1,141,398 (56,160) 93,720 32,879 60,841 (149,750) (3,945) (70,317) (75,488) (85,734) 85,604 2,630 3,764 50 3,714 Generation 2019 3,057,056 3,007,419 2,885,369 48,946 73,104 49,637 (578,373) (277,116) (260,281) (102,681) 10,023 (114,226) (136,526) 1,597,876 (261,958) (1,307) 645 4,788 153,668 99,237 54,431 (178,978) (12,603) (80,638) (85,737) (83,759) 113,857 790 1,287 1,042 245 2018 3,036,418 2,961,895 2,814,879 44,810 102,206 74,523 (757,914) (226,843) (187,111) (108,687) 9,467 (122,858) (140,031) 1,502,441 (295,719) 66,987 (4,998) 70,220 116,829 84,253 32,576 (203,183) (18,221) (98,979) (85,983) 8,815 147,759 2,171 135 51 84 2020 9,969,814 9,039,284 7,511,207 5,221 1,522,856 930,530 (6,953,255) (5,149,046) - (838,996) (965,213) 143,146 (442,217) (859,869) 1,857,619 (614,224) - (241,540) 1,001,855 (219,907) 223,020 14,687 208,333 (598,296) (56,676) (113,505) (428,115) 161,586 (6,217) 28 903 - 903 1,335,256 1,268,711 Distribution 2019 12,116,249 10,905,824 9,217,909 9,805 1,678,110 1,210,425 (8,175,432) (6,323,836) 2018 10,739,115 9,748,895 8,286,321 4,158 1,458,416 990,220 (7,456,629) (5,637,926) Holdings, Eliminations and Other 2020 (777,969) (777,486) (736,505) (544) (40,437) (483) 772,503 729,245 - - - 2019 (859,193) (859,867) (821,024) 1 (38,844) 674 852,860 805,346 (1) 52,849 (5,334) (6,333) 63 (24,502) (76,533) (107,305) (2,704) 2018 (785,844) (786,029) (692,024) - (94,005) 185 788,784 741,482 - 54,656 (7,354) 2,940 - (23,373) (64,807) (85,240) 750 2020 12,192,674 11,238,976 9,655,212 36,968 1,546,796 953,698 (7,555,915) (5,337,887) (137,850) (1,016,486) (1,063,692) 4,636,759 147,151 (565,046) (1,065,278) 3,153,586 (858,099) 49,041 (5,783) (5,466) 59 (21,490) (59,709) (86,606) (3,634) - - - - 102 (90,138) (37,040) 4,737 11,944 (7,207) (20,407) (9,402) (24,808) 13,803 846 (22,216) (536) (110,545) (120,684) 10,273 19,923 (9,650) (164,251) (29,210) (25,225) (109,816) 1,391 31,903 (799) (85,289) (186,280) 18,131 21,626 (3,495) (178,114) (42,866) (78,085) (57,163) 1,428 (27,725) (242,372) 2,053,115 (313,107) 321,477 59,510 261,967 (768,453) (70,023) (208,630) (489,800) 76,698 57,171 Total 2019 14,314,112 13,053,376 11,282,254 58,752 1,712,370 1,260,736 (8,541,023) (6,096,863) (277,117) (1,110,921) (1,056,122) 5,773,089 181,565 (809,753) (1,150,709) 3,994,192 (948,330) 2,126 (279,125) 2,768,863 (377,533) 449,661 145,532 304,129 (1,088,631) (134,024) (281,359) (673,248) 124,477 136,960 2018 12,989,689 11,924,761 10,409,176 48,968 1,466,617 1,064,928 (7,948,400) (5,654,358) (226,843) (944,304) (1,122,895) 5,041,289 177,997 (840,493) (1,021,085) 3,357,708 (862,440) 61,753 (122,501) 2,434,520 (332,663) 358,081 133,180 224,901 (1,071,759) (162,192) (312,204) (597,363) 270,380 110,635 (160) 546 - 546 475 4 4 - (227) 441 - - - - - - 3,133 4,671 54 4,617 583 14,196 1,048 13,148 2,452 681 51 630 (811,849) (1,006,854) 3,282,486 168,530 (694,262) (816,247) 1,940,507 (567,471) (5,234) (116,704) 1,251,098 (216,603) 223,121 27,301 195,820 (690,462) (101,105) (135,140) (454,217) 260,137 (9,399) (903,489) (948,107) 3,940,817 171,479 (671,025) (937,650) 2,503,621 (683,668) 3,433 (279,234) 1,544,152 (261,637) 285,720 26,372 259,348 (745,402) (92,211) (175,496) (477,695) 206,845 (8,800) 20 12,909 6 12,903 Profit (loss) before taxes 1,091,632 1,342,121 1,341,237 782,879 1,295,444 1,034,881 (126,699) (231,456) (271,128) 1,747,812 2,406,109 2,104,990 Income tax expense (income) (326,573) (419,338) (449,235) (278,107) 160,650 (24,007) 38,120 22,342 35,310 (566,560) (236,346) (437,932) Profit (loss) from continuing operations PROFIT (LOSS) 765,059 765,059 922,783 922,783 892,002 892,002 504,772 504,772 1,456,094 1,456,094 1,010,874 1,010,874 (88,579) (88,579) (209,114) (209,114) (235,818) (235,818) 1,181,252 1,181,252 2,169,763 2,169,763 1,667,058 1,667,058 Profit (loss) attributable to Profit (loss) attributable to owners of the parent Profit (loss) attributable to non-controlling interests 765,059 922,783 892,002 504,772 1,456,094 1,010,874 (88,579) (209,114) (235,818) - - - - - - - - - - - - - - - - - - 1,181,252 825,197 356,055 2,169,763 1,614,085 555,678 1,667,058 1,201,381 465,677 IN THOUSANDS OF U.S. DOLLARS – THUS$ Line of business STATEMENT OF CASH FLOWS Net cash flows from (used in) operating activities Net cash flows from (used in) investing activities Net cash flows from (used in) financing activities 2020 1,109,985 (164,687) (797,743) Generation 2019 1,052,312 (84,523) (1,039,947) 2018 1,197,918 (103,167) (865,538) 2020 1,448,867 (1,364,627) 40,508 Distribution 2019 1,603,242 (1,471,137) (64,693) 2018 771,791 (1,022,549) 367,923 The Eliminations column corresponds to transactions between companies in different lines of business and country, primarily purchases and sales of energy and services. Holdings, Eliminations and Other 2020 (133,342) (6,302) (429,300) 2019 (128,043) (44,138) 281,736 2018 (125,144) (1,943,473) 2,364,681 2020 2,425,510 (1,535,616) (1,186,535) Total 2019 2,527,511 (1,599,798) (822,904) 2018 1,844,565 (3,069,189) 1,867,066 343 Annual Report Enel Américas 202034.4 Generation and Transmission, and Distribution by Country a) Generation and transmission IN THOUSANDS OF U.S. DOLLARS – THUS$ Line of business Country ASSETS CURRENT ASSETS Cash and cash equivalents Other current financial assets Other current non-financial assets Trade and other current receivables Current accounts receivable from related parties Inventories Current tax assets NON-CURRENT ASSETS Other non-current financial assets Other non-current non-financial assets Trade and other non-current receivables Non-current accounts receivable from related parties Investments accounted for using the equity method Intangible assets other than goodwill Property, plant and equipment Right-of-use asset Deferred tax assets Generation and transmission Generation and transmission Argentina 12-31-2020 297,094 80,741 41,991 12,401 111,216 18,509 29,608 2,628 715,591 25,454 839 268,076 18,411 1,145 11,092 371,322 12-31-2019 329,778 91,497 - 28,264 161,872 16,139 13,944 18,062 838,459 3,200 3,265 308,084 34,662 572 154 462,759 - - 19,252 25,763 Brazil 12-31-2020 725,298 167,713 31,382 25,705 444,478 38,033 320 17,667 12-31-2019 489,030 179,541 58,849 30,114 113,029 96,370 391 10,736 693,610 267,351 12,463 8,020 - 55,520 69,410 266,974 184 13,688 791,639 342,599 37,866 25 1,758 45,123 8,655 350,378 202 5,033 TOTAL ASSETS 1,012,685 1,168,237 1,418,908 1,280,669 2,774,428 2,775,487 1,569,496 1,761,327 - (102,944) 6,775,517 6,882,776 The Eliminations column corresponds to transactions between companies in different lines of business and country, primarily purchases and sales of energy and services. IN THOUSANDS OF U.S. DOLLARS – THUS$ Line of business Country LIABILITIES AND EQUITY CURRENT LIABILITIES Other current financial liabilities Current lease liability Trade and other current payables Current accounts payable to related parties Other current provisions Current tax liabilities Other current non-financial liabilities NON-CURRENT LIABILITIES Other non-current financial liabilities Non-current lease liability Trade and other non-current payables Non-current accounts payable to related parties Other long-term provisions Deferred tax liabilities Non-current provisions for employee benefits Other non-current non-financial liabilities EQUITY Equity attributable to shareholders of Enel Américas Share and paid-in capital Retained earnings (losses) Issuance premiums Treasury shares in portfolio Other reserves Generation and transmission Generation and transmission Argentina 12-31-2020 161,117 6,088 12-31-2019 338,950 7,282 - 60,088 29,041 1,380 41,620 22,900 144,807 40,785 - - - 62 52,504 3,190 48,266 706,761 706,761 561,138 11,406 - - - 109,347 118,028 - 73,629 30,664 221,136 40,650 - 3,034 16,228 - 101,043 3,172 57,009 608,151 608,151 569,466 4,884 - - 134,217 33,801 Brazil 12-31-2020 665,046 21,768 138 578,444 49,014 (3) 7,071 8,614 179,215 127,378 83 215 19,252 1,730 29,787 12-31-2019 344,845 81,967 132 229,009 17,809 - 6,076 9,852 205,761 176,594 120 505 11,331 2,053 13,171 - 770 - 1,987 574,647 574,647 215,930 237,270 - (54) 121,501 730,063 730,063 268,415 335,962 - - 125,686 Total Liabilities and Equity 1,012,685 1,168,237 1,418,908 1,280,669 2,774,428 2,775,487 1,569,496 1,761,327 - (102,944) 6,775,517 6,882,776 344344 Colombia Peru Eliminations Total 12-31-2020 12-31-2019 12-31-2020 12-31-2019 12-31-2020 12-31-2019 12-31-2020 12-31-2019 (102,134) 1,752,168 1,401,368 2,373,206 2,471,721 3,953,188 4,351,508 2,420,482 2,524,074 1,193,666 1,328,046 (810) 5,023,349 5,481,408 353,946 239,549 3,773 9,254 70,578 926 29,866 251,413 86,361 3,206 2,858 78,136 55,821 25,031 - - 151 8,378 4,023 - 2,475 30,113 2,136 - 169 9,797 3,749 - 2,579 32,433 3,626 - 375,830 190,853 - 23,333 73,008 52,641 26,581 9,414 55 23,092 - 25,534 51,887 25,945 941,686 125,217 250 433,281 235,659 232 7,670 92,989 63,765 29,159 3,807 16,760 - - 18,392 56,601 26,466 1,066,650 143,177 - 570,719 263,242 1,793 153,466 45,183 29,096 70,498 7,441 697,178 542,592 515 764 - 61,967 63,683 27,657 387,805 98,742 1,476 142,993 41,035 31,215 63,076 9,268 943,881 816,492 2,041 639 - 44,831 51,223 28,655 - - 26,187 19,547 89,995 32,579 48,883 31,538 7,005 16,927 10,993 - - 20,420 189,127 1,906 20,258 10,433 40,833 99,101 36,214 48,808 1,637 4,721 17,539 18,345 - - 54,275 216,660 1,893 23,091 1,506,531 1,506,531 1,443,801 1,443,801 1,054,131 1,054,131 191,473 665,670 33,096 199,473 565,626 34,479 853,156 208,351 4,042 1,187,777 1,187,777 930,671 284,443 4,409 - - - - 616,292 644,223 (11,418) (31,746) - - - - 8 (8) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - (102,134) (810) (90,643) (12,301) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 678,856 77,146 70,693 699,288 110,101 86,375 29,709 293,011 44,772 280,119 43,945 111,027 136,560 127,537 33,190 593,058 62,287 68,906 446,026 129,961 68,525 32,605 345,968 67,688 311,858 54,002 104,875 67,708 147,005 30,796 317,285 21,478 881,993 155,817 79,356 150,727 45,960 727,682 11,591 979 19,252 84,179 335,101 32,753 69,294 198,424 42,441 580,450 122,443 80,023 144,418 54,505 1,051,275 20,506 4,178 15,258 101,159 382,097 33,720 82,087 3,842,070 3,842,070 1,821,697 1,122,697 37,138 (54) 860,592 3,969,792 3,969,792 1,968,025 1,190,915 38,888 - 771,964 Colombia Peru Eliminations Total 12-31-2020 12-31-2019 12-31-2020 12-31-2019 12-31-2020 12-31-2019 12-31-2020 12-31-2019 255,734 241,747 (90,643) 1,652,616 1,222,704 259,631 331,803 (12,301) 1,280,831 1,690,280 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationIN THOUSANDS OF U.S. DOLLARS – THUS$ Line of business Country ASSETS CURRENT ASSETS Cash and cash equivalents Other current financial assets Other current non-financial assets Trade and other current receivables Current accounts receivable from related parties Inventories Current tax assets NON-CURRENT ASSETS Other non-current financial assets Other non-current non-financial assets Trade and other non-current receivables Non-current accounts receivable from related parties Investments accounted for using the equity method Intangible assets other than goodwill Property, plant and equipment Right-of-use asset Deferred tax assets IN THOUSANDS OF U.S. DOLLARS – THUS$ Line of business Country LIABILITIES AND EQUITY CURRENT LIABILITIES Other current financial liabilities Current lease liability Trade and other current payables Current accounts payable to related parties Other current provisions Current tax liabilities Other current non-financial liabilities NON-CURRENT LIABILITIES Other non-current financial liabilities Non-current lease liability Trade and other non-current payables Non-current accounts payable to related parties Other long-term provisions Deferred tax liabilities Non-current provisions for employee benefits Other non-current non-financial liabilities EQUITY Equity attributable to shareholders of Enel Américas Share and paid-in capital Retained earnings (losses) Issuance premiums Treasury shares in portfolio Other reserves Generation and transmission Argentina Brazil 12-31-2020 12-31-2019 12-31-2020 12-31-2019 725,298 489,030 297,094 80,741 41,991 12,401 111,216 18,509 29,608 2,628 715,591 25,454 839 268,076 18,411 1,145 11,092 371,322 329,778 91,497 - 28,264 161,872 16,139 13,944 18,062 3,200 3,265 308,084 34,662 572 154 462,759 - - 19,252 25,763 167,713 31,382 25,705 444,478 38,033 320 17,667 267,351 12,463 8,020 - 55,520 69,410 266,974 184 13,688 179,541 58,849 30,114 113,029 96,370 391 10,736 791,639 342,599 37,866 25 1,758 45,123 8,655 350,378 202 5,033 838,459 693,610 Generation and transmission Argentina Brazil 12-31-2020 12-31-2019 12-31-2020 12-31-2019 338,950 665,046 161,117 6,088 - 60,088 29,041 1,380 41,620 22,900 144,807 40,785 - - - 62 52,504 3,190 48,266 706,761 706,761 561,138 11,406 - - 7,282 - 109,347 118,028 - 73,629 30,664 221,136 40,650 3,034 16,228 - - 101,043 3,172 57,009 608,151 608,151 569,466 4,884 - - 21,768 138 578,444 49,014 (3) 7,071 8,614 179,215 127,378 83 215 19,252 1,730 29,787 - 770 574,647 574,647 215,930 237,270 - (54) 344,845 81,967 132 229,009 17,809 - 6,076 9,852 205,761 176,594 120 505 11,331 2,053 13,171 - 1,987 730,063 730,063 268,415 335,962 - - 134,217 33,801 121,501 125,686 Generation and transmission Eliminations 12-31-2020 Colombia 12-31-2020 353,946 239,549 3,773 9,254 70,578 926 29,866 12-31-2019 251,413 86,361 3,206 2,858 78,136 55,821 25,031 - - Peru 12-31-2020 375,830 190,853 - 23,333 73,008 52,641 26,581 9,414 12-31-2019 433,281 235,659 232 7,670 92,989 63,765 29,159 3,807 2,420,482 151 8,378 4,023 2,524,074 169 9,797 3,749 1,193,666 55 23,092 - 1,328,046 - 16,760 - - - 2,475 30,113 2,373,206 2,136 2,579 32,433 2,471,721 3,626 - - 25,534 51,887 25,945 941,686 125,217 250 18,392 56,601 26,466 1,066,650 143,177 - 12-31-2019 (102,134) - - - - (102,134) - - (810) - - - (810) - - - - - Total 12-31-2020 1,752,168 678,856 77,146 70,693 699,288 110,101 86,375 29,709 5,023,349 293,011 44,772 280,119 43,945 111,027 136,560 3,953,188 127,537 33,190 12-31-2019 1,401,368 593,058 62,287 68,906 446,026 129,961 68,525 32,605 5,481,408 345,968 67,688 311,858 54,002 104,875 67,708 4,351,508 147,005 30,796 - - - - 8 (8) - - - - - - - - - - - - TOTAL ASSETS 1,012,685 1,168,237 1,418,908 1,280,669 2,774,428 2,775,487 1,569,496 1,761,327 - (102,944) 6,775,517 6,882,776 The Eliminations column corresponds to transactions between companies in different lines of business and country, primarily purchases and sales of energy and services. Generation and transmission Eliminations 12-31-2020 Colombia 12-31-2020 570,719 263,242 1,793 153,466 45,183 29,096 70,498 7,441 12-31-2019 387,805 98,742 1,476 142,993 41,035 31,215 63,076 9,268 Peru 12-31-2020 255,734 26,187 19,547 89,995 32,579 48,883 31,538 7,005 12-31-2019 241,747 10,433 40,833 99,101 36,214 48,808 1,637 4,721 697,178 542,592 515 764 943,881 816,492 2,041 639 - - 61,967 63,683 27,657 44,831 51,223 28,655 - - 259,631 16,927 10,993 331,803 17,539 18,345 - - 20,420 189,127 1,906 20,258 - - 54,275 216,660 1,893 23,091 1,506,531 1,506,531 191,473 665,670 33,096 1,443,801 1,443,801 199,473 565,626 34,479 1,054,131 1,054,131 853,156 208,351 4,042 1,187,777 1,187,777 930,671 284,443 4,409 - - - - 616,292 644,223 (11,418) (31,746) 12-31-2019 (90,643) - - - (90,643) - - - (12,301) - - - (12,301) - - - - - - - - - - - Total 12-31-2020 1,652,616 317,285 21,478 881,993 155,817 79,356 150,727 45,960 1,280,831 727,682 11,591 979 19,252 84,179 335,101 32,753 69,294 3,842,070 3,842,070 1,821,697 1,122,697 37,138 (54) 860,592 12-31-2019 1,222,704 198,424 42,441 580,450 122,443 80,023 144,418 54,505 1,690,280 1,051,275 20,506 4,178 15,258 101,159 382,097 33,720 82,087 3,969,792 3,969,792 1,968,025 1,190,915 38,888 - 771,964 - - - - - - - - - - - - - - - - - - - - - - - - Total Liabilities and Equity 1,012,685 1,168,237 1,418,908 1,280,669 2,774,428 2,775,487 1,569,496 1,761,327 - (102,944) 6,775,517 6,882,776 345 Annual Report Enel Américas 2020Line of business Country STATEMENTS OF COMPREHENSIVE INCOME (LOSS) REVENUE Revenues Energy sales Other sales Other services rendered Other income RAW MATERIALS AND CONSUMABLES USED Energy purchases Fuel consumption Transportation expenses Other miscellaneous supplies and services CONTRIBUTION MARGIN Other work performed by the entity and capitalized Employee benefits expense Other expenses Depreciation and amortization expense Impairment (losses) reversals recognized in profit or loss Gains (losses) for impairment in accordance with IFRS 9 OPERATING INCOME FINANCIAL RESULT Financial income Cash and cash equivalents Other financial income Financial costs Bank borrowings Secured and unsecured obligations Other Income from indexation units Foreign exchange profits (losses) Share of profit (loss) of associates and joint ventures accounted for using the equity method Other gains (losses) Gain (loss) from other investments Gain (loss) from the sale of assets The Eliminations column corresponds to transactions between companies in different lines of business and country, primarily purchases and sales of energy and services. IN THOUSANDS OF U.S. DOLLARS – THUS$ Generation and transmission Argentina 2019 436,376 415,055 413,343 - 1,712 21,321 2020 230,575 224,081 220,869 1,281 1,931 6,494 2018 2020 327,613 1,105,875 1,102,091 1,040,995 314,689 313,502 21 1,166 12,924 Brazil 2019 777,501 761,534 691,904 Colombia 2018 2020 2019 2018 853,595 1,159,133 1,246,988 1,259,471 841,722 759,653 1,150,185 1,128,070 1,240,405 1,213,754 1,242,506 1,220,266 - - - 61,096 3,784 69,630 15,967 82,069 11,873 21,978 137 8,948 26,479 172 6,583 22,095 145 16,965 (19,110) (129,661) (40,070) (969) (1,180) (6,542) (10,419) 211,465 375 (30,398) (41,328) (877) (100,579) (8,959) (19,246) 306,715 4,785 (38,147) (28,259) (1,343) (21,095) (6,937) (10,695) 287,543 5,011 (45,672) (28,977) (781,186) (710,206) (41,363) (23,874) (418,618) (328,984) (58,505) (28,107) (574,420) (525,539) (18,151) (30,474) (5,743) (3,022) (256) 324,689 358,883 279,175 215 (12,934) (14,876) 653 (16,422) (22,191) 553 (16,364) (19,683) (412,529) (465,768) (478,264) (162,338) (204,404) (188,230) (179,897) (39,785) (126,696) (66,151) 746,604 2,438 (31,049) (44,547) (209,204) (49,225) (138,544) (68,795) 781,220 3,008 (31,806) (42,102) (191,690) (53,414) (143,045) (90,115) 781,207 2,468 (30,726) (45,800) GROSS OPERATING RESULT 140,114 245,094 217,905 297,094 320,923 243,681 673,446 710,320 707,149 321,539 333,697 2020 2019 505,246 596,240 2020 2019 (49) 2018 (244) 2020 2019 2018 3,000,829 3,057,056 3,036,418 Generation and transmission Eliminations Total Peru 590,425 566,368 22,467 1,590 5,815 (39,851) (68,807) (84,128) 1,577 (27,851) (44,023) 2018 595,983 562,978 521,458 22,694 18,826 33,005 (40,938) (134,183) (5,488) (7,621) 407,753 1,435 (30,096) (45,395) 500,821 490,576 9,032 1,213 4,425 (27,014) (55,522) (69,419) 918 (26,958) (44,949) 271,919 (10,383) 342,908 (11,618) 391,836 12 (10) 3,755 207,899 254,455 269,211 5,087 4,787 2,331 2,456 (4,854) (411) (1,547) (2,896) (6,146) 7,373 4,137 3,236 (12,089) (94) (1,965) (10,030) 8,420 6,888 3,768 3,120 (5,002) (219) (2,857) (1,926) - - - - - - - 2,977,178 2,880,510 3,007,419 2,885,369 32,291 64,377 23,651 48,946 73,104 49,637 2,961,895 2,814,879 44,810 102,206 74,523 (49) (244) 429 1,596 - (1,167) (1,375,163) (1,218,451) (1,280,555) (918,086) (137,850) (226,531) (578,373) (277,116) (260,281) (757,914) (226,843) (187,111) - (92,696) (102,681) (108,687) 185 1,625,666 1,838,605 1,755,863 - - (176) 9 3,946 (101,339) (145,700) 10,023 (114,226) (136,526) 9,467 (122,858) (140,031) 1,382,573 1,597,876 1,502,441 (934) 645 (4,998) 1,141,398 1,335,256 1,268,711 (56,160) 93,720 32,879 60,841 4,788 153,668 99,237 54,431 70,220 116,829 84,253 32,576 (149,750) (178,978) (203,183) (3,945) (12,603) (18,221) (70,317) (75,488) (85,734) 85,604 2,630 3,764 50 3,714 (80,638) (85,737) (83,759) (98,979) (85,983) 8,815 790 1,287 1,042 245 2,171 135 51 84 (2,705) 28,573 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 11 - - - - - - 543 - - (543) - (49) 49 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 9 - - - - - - - - - - - - - - 5,154 (1,430) 6,534 (2,705) 28,573 113,857 147,759 (86,575) (89,645) (121,545) (23,371) (32,785) (32,681) (66,263) (73,761) (73,252) (64,032) (65,767) (68,241) (240,241) (261,958) (295,719) - - 66,987 - - - - - - (1,307) - - (1,307) 66,987 273,188 288,170 (96) 53,443 6,766 72,368 27,765 44,603 (29,397) (2,955) (40) 155,409 73,292 98,572 82,760 15,812 (47,784) (62) (7,671) 155,676 116,452 69,536 65,748 3,788 - - - (26,442) (85,734) 49,529 (47,722) (83,759) 106,263 (52,414) 8,815 90,558 (535) 5,214 11,100 (1,009) 12,109 (13,088) (25,611) (52,457) (39,278) (43) (579) - 32 19,427 41,484 7,644 33,840 (31,209) (9,925) (2,415) (18,869) (260) 210,740 18,757 32,044 7,712 24,332 (35,648) (11,321) (201) (24,126) - - - 33,392 9,152 22,361 (315) 606,868 (70,522) 5,465 3,792 1,673 (76,221) - (55,682) (20,539) - 234 663 637,222 (81,785) 6,239 4,696 1,543 (87,896) (2,522) (822) 633,075 (101,982) 8,361 7,025 1,336 (110,076) (6,638) (76,258) (9,116) - (128) (95,921) (7,517) - (267) 2,630 50 50 - 790 1,042 1,042 - 2,171 74 51 23 - - - - - - - - - - - - - 103 - 103 - 235 - 235 - 24 - 24 3,611 - - 3,611 - 10 - 10 - 37 - 37 Profit (loss) before taxes 62,889 230,533 274,373 278,402 307,597 229,497 536,449 555,672 531,117 216,597 248,319 277,668 (2,705) - 28,582 1,091,632 1,342,121 1,341,237 Income tax expense (income) (15,129) (48,085) (99,141) (66,505) (116,746) (78,870) (188,883) (180,207) (185,554) (56,056) (74,300) (85,670) - - (326,573) (419,338) (449,235) Profit (loss) from continuing operations PROFIT (LOSS) 47,760 47,760 182,448 182,448 175,232 175,232 211,897 211,897 190,851 190,851 150,627 150,627 347,566 347,566 375,465 375,465 345,563 345,563 160,541 160,541 174,019 174,019 191,998 191,998 (2,705) (2,705) 28,582 28,582 765,059 765,059 922,783 922,783 892,002 892,002 Profit (loss) attributable to 47,760 182,448 175,232 211,897 190,851 150,627 347,566 375,465 345,563 160,541 174,019 191,998 (2,705) 28,582 765,059 922,783 892,002 IN THOUSANDS OF U.S. DOLLARS – THUS$ Line of business Country STATEMENT OF CASH FLOWS 2020 Argentina 2019 2018 2020 Brazil 2019 2018 2020 Colombia 2019 2018 Peru 2019 2020 2018 2020 2019 2018 2020 2018 Total 2019 Generation and transmission Generation and transmission Eliminations Net cash flows from (used in) operating activities Net cash flows from (used in) investing activities Net cash flows from (used in) financing activities 125,114 128,806 110,238 193,848 206,616 206,457 549,006 509,622 626,538 242,006 207,268 254,685 - 1,109,985 1,052,312 1,197,918 (59,107) 6,478 (16,483) (9,470) 34,463 (67,384) (54,430) (85,078) (109,801) (41,680) (40,386) 90,501 (164,687) (84,523) (103,167) (54,520) (115,161) (23,726) (162,012) (221,809) (90,783) (353,785) (545,075) (494,832) (227,426) (157,902) (256,197) (797,743) (1,039,947) (865,538) The Eliminations column corresponds to transactions between companies in different lines of business and country, primarily purchases and sales of energy and services. 346346 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationGeneration and transmission Eliminations Total (19,110) (129,661) (40,070) (412,529) (465,768) (478,264) (162,338) (204,404) (188,230) Peru 2020 2019 505,246 596,240 500,821 490,576 9,032 1,213 4,425 590,425 566,368 22,467 1,590 5,815 2018 595,983 562,978 521,458 22,694 18,826 33,005 GROSS OPERATING RESULT 140,114 245,094 217,905 297,094 320,923 243,681 673,446 710,320 707,149 918 (26,958) (44,949) 271,919 1,577 (27,851) (44,023) 321,539 333,697 (27,014) (55,522) (69,419) (39,851) (68,807) (84,128) (10,383) 342,908 (11,618) 391,836 (40,938) (134,183) (5,488) (7,621) 407,753 1,435 (30,096) (45,395) (86,575) (89,645) (121,545) (23,371) (32,785) (32,681) (66,263) (73,761) (73,252) (64,032) (65,767) (68,241) - - 66,987 - - - - - - (1,307) - 12 (10) 3,755 207,899 254,455 269,211 5,087 4,787 2,331 2,456 (4,854) (411) (1,547) (2,896) (6,146) 7,373 4,137 3,236 (12,089) (94) (1,965) (10,030) 8,420 6,888 3,768 3,120 (5,002) (219) (2,857) (1,926) - - - The Eliminations column corresponds to transactions between companies in different lines of business and country, primarily purchases and sales of energy and services. IN THOUSANDS OF U.S. DOLLARS – THUS$ COMPREHENSIVE INCOME (LOSS) 2018 2020 327,613 1,105,875 Argentina 2019 436,376 415,055 413,343 - 1,712 21,321 (877) (100,579) (8,959) (19,246) 306,715 4,785 (38,147) (28,259) 2020 230,575 224,081 220,869 1,281 1,931 6,494 (969) (1,180) (6,542) (10,419) 211,465 375 (30,398) (41,328) Generation and transmission Colombia 2018 2020 2019 2018 853,595 1,159,133 1,246,988 1,259,471 841,722 759,653 1,150,185 1,128,070 1,240,405 1,213,754 1,242,506 1,220,266 - - - Brazil 2019 777,501 761,534 691,904 69,630 15,967 (418,618) (328,984) (58,505) (28,107) 1,102,091 1,040,995 61,096 3,784 (781,186) (710,206) (41,363) (23,874) 82,069 11,873 (574,420) (525,539) (18,151) (30,474) (5,743) (3,022) (256) 324,689 358,883 279,175 215 (12,934) (14,876) 653 (16,422) (22,191) 553 (16,364) (19,683) 21,978 137 8,948 26,479 172 6,583 (179,897) (39,785) (126,696) (66,151) 746,604 2,438 (31,049) (44,547) (209,204) (49,225) (138,544) (68,795) 781,220 3,008 (31,806) (42,102) 22,095 145 16,965 (191,690) (53,414) (143,045) (90,115) 781,207 2,468 (30,726) (45,800) (96) 53,443 6,766 72,368 27,765 44,603 (29,397) (2,955) (40) 155,409 73,292 98,572 82,760 15,812 (47,784) (62) (52,457) (39,278) (43) (579) - - - (26,442) (85,734) 49,529 (47,722) (83,759) 106,263 (52,414) 8,815 90,558 273,188 288,170 - 32 19,427 41,484 7,644 33,840 (31,209) (9,925) (2,415) (18,869) (260) 210,740 18,757 32,044 7,712 24,332 (35,648) (11,321) (201) (24,126) (535) 5,214 11,100 (1,009) 12,109 (13,088) (25,611) - - - 33,392 9,152 22,361 (315) 606,868 (70,522) 5,465 3,792 1,673 (76,221) - (55,682) (20,539) - 234 663 637,222 (81,785) 6,239 4,696 1,543 (87,896) (2,522) (822) 633,075 (101,982) 8,361 7,025 1,336 (110,076) (6,638) (76,258) (9,116) - (128) (95,921) (7,517) - (267) 314,689 313,502 21 1,166 12,924 (1,343) (21,095) (6,937) (10,695) 287,543 5,011 (45,672) (28,977) (7,671) 155,676 116,452 69,536 65,748 3,788 Line of business Country STATEMENTS OF REVENUE Revenues Energy sales Other sales Other services rendered Other income RAW MATERIALS AND CONSUMABLES USED Energy purchases Fuel consumption Transportation expenses Other miscellaneous supplies and services CONTRIBUTION MARGIN Other work performed by the entity and capitalized Employee benefits expense Other expenses Depreciation and amortization expense Impairment (losses) reversals recognized in profit or loss Gains (losses) for impairment in accordance with IFRS 9 OPERATING INCOME FINANCIAL RESULT Financial income Cash and cash equivalents Other financial income Financial costs Bank borrowings Secured and unsecured obligations Other Income from indexation units Foreign exchange profits (losses) Share of profit (loss) of associates and joint ventures accounted for using the equity method Other gains (losses) Gain (loss) from other investments Gain (loss) from the sale of assets Profit (loss) from continuing operations PROFIT (LOSS) Net cash flows from (used in) operating activities Net cash flows from (used in) investing activities Net cash flows from (used in) financing activities 2,630 50 50 - 790 1,042 1,042 - 2,171 74 51 23 - - - - - - - - - - - - 103 - - 103 235 - - 235 - 24 - 24 - 3,611 - 3,611 - 10 - 10 - 37 - 37 - - - - 5,154 (1,430) 6,534 (2,705) 2020 - - - - - - - - - - - - - - - - - - - - (2,705) - - - - - - - - Profit (loss) before taxes 62,889 230,533 274,373 278,402 307,597 229,497 536,449 555,672 531,117 216,597 248,319 277,668 (2,705) - 28,582 1,091,632 1,342,121 1,341,237 Income tax expense (income) (15,129) (48,085) (99,141) (66,505) (116,746) (78,870) (188,883) (180,207) (185,554) (56,056) (74,300) (85,670) - 47,760 47,760 182,448 182,448 175,232 175,232 211,897 211,897 190,851 190,851 150,627 150,627 347,566 347,566 375,465 375,465 345,563 345,563 160,541 160,541 174,019 174,019 191,998 191,998 (2,705) (2,705) Profit (loss) attributable to 47,760 182,448 175,232 211,897 190,851 150,627 347,566 375,465 345,563 160,541 174,019 191,998 (2,705) - - - - - (326,573) (419,338) (449,235) 28,582 28,582 765,059 765,059 922,783 922,783 892,002 892,002 28,582 765,059 922,783 892,002 IN THOUSANDS OF U.S. DOLLARS – THUS$ Line of business Country STATEMENT OF CASH FLOWS 2020 2018 2020 2018 2020 2018 Argentina 2019 Generation and transmission Brazil 2019 Colombia 2019 2020 Peru 2019 Generation and transmission Eliminations 2018 2020 2019 2018 2020 Total 2019 2018 125,114 128,806 110,238 193,848 206,616 206,457 549,006 509,622 626,538 242,006 207,268 254,685 (59,107) 6,478 (16,483) (9,470) 34,463 (67,384) (54,430) (85,078) (109,801) (41,680) (40,386) 90,501 (54,520) (115,161) (23,726) (162,012) (221,809) (90,783) (353,785) (545,075) (494,832) (227,426) (157,902) (256,197) 11 - - - - - - 1,109,985 1,052,312 1,197,918 - - (164,687) (84,523) (103,167) (797,743) (1,039,947) (865,538) The Eliminations column corresponds to transactions between companies in different lines of business and country, primarily purchases and sales of energy and services. 347 2019 (49) 2018 (244) 2020 2019 2018 3,000,829 3,057,056 3,036,418 - - - - - - - - (49) (244) 2,977,178 2,880,510 3,007,419 2,885,369 32,291 64,377 23,651 48,946 73,104 49,637 2,961,895 2,814,879 44,810 102,206 74,523 - 543 - (543) - (49) - - 49 - - - - - - - - - - - - - - - - - - - 429 1,596 - (1,167) (1,375,163) (1,218,451) (1,280,555) (918,086) (137,850) (226,531) (578,373) (277,116) (260,281) (757,914) (226,843) (187,111) - (92,696) (102,681) (108,687) 185 1,625,666 1,838,605 1,755,863 - - (176) 9 - - - 9 28,573 - - - - - - - - 28,573 3,946 (101,339) (145,700) 10,023 (114,226) (136,526) 9,467 (122,858) (140,031) 1,382,573 1,597,876 1,502,441 (240,241) (261,958) (295,719) - (1,307) 66,987 (934) 645 (4,998) 1,141,398 1,335,256 1,268,711 (56,160) 93,720 32,879 60,841 4,788 153,668 99,237 54,431 70,220 116,829 84,253 32,576 (149,750) (178,978) (203,183) (3,945) (12,603) (18,221) (70,317) (75,488) (85,734) 85,604 (80,638) (85,737) (83,759) (98,979) (85,983) 8,815 113,857 147,759 - - - - 2,630 3,764 50 3,714 790 1,287 1,042 245 2,171 135 51 84 Annual Report Enel Américas 2020b) Distribution IN THOUSANDS OF U.S. DOLLARS – THUS$ Line of business Country ASSETS CURRENT ASSETS Cash and cash equivalents Other current financial assets Other current non-financial assets Trade and other current receivables Current accounts receivable from related parties Inventories Current tax assets Non-current assets or disposal groups held-for-sale or held for distribution to owners NON-CURRENT ASSETS Other non-current financial assets Other non-current non-financial assets Trade and other non-current receivables Non-current accounts receivable from related parties Investments accounted for using the equity method Intangible assets other than goodwill Property, plant and equipment Investment properties Right-of-use asset Deferred tax assets Distribution Argentina Brazil 12-31-2020 274.170 8.016 23.383 29.464 199.667 364 13.276 - - 1.442.359 6 60 460 32 133 50.067 1.391.477 - 124 - 12-31-2019 284.127 24.452 - 18.982 222.959 602 17.132 - - 1.456.918 9 84 646 68 186 30.365 1.425.542 - 18 - 12-31-2020 3.356.268 557.280 128.089 374.088 1.954.523 8.480 272.167 61.641 12-31-2019 3.711.977 475.746 48.792 341.073 2.568.600 11.350 236.130 30.286 - - - 11.326 - 11.326 10.141.977 2.497.727 2.259.476 267.871 12.004.828 2.703.683 2.651.786 236.472 - - 4.174.705 32.860 7.942 42.236 859.160 - - 5.281.728 40.609 10.254 74.554 1.005.742 TOTAL ASSETS 1.716.529 1.741.045 13.498.245 15.716.805 2.473.490 2.206.698 1.454.675 1.458.950 (48) (35) 19.142.891 21.123.463 The Eliminations column corresponds to transactions between companies in different lines of business and country, primarily purchases and sales of energy and services. IN THOUSANDS OF U.S. DOLLARS – THUS$ Line of business Country LIABILITIES AND EQUITY CURRENT LIABILITIES Other current financial liabilities Current lease liability Trade and other current payables Current accounts payable to related parties Other current provisions Current tax liabilities Other current non-financial liabilities Distribution Argentina Brazil 12-31-2020 591.523 12-31-2019 509.222 - 78 467.412 69.660 43.785 - 10.588 - 7 328.700 109.013 44.825 12.264 14.413 12-31-2020 3.697.032 775.450 15.396 2.159.212 513.115 77.846 26.914 129.099 12-31-2019 3.699.914 731.093 25.856 2.321.877 286.621 144.973 665 188.829 Liabilities associated with groups of assets or disposal groups held for sale or distribution to owners - - - - - 3.791 - - - 3.791 Colombia Peru Eliminations Total 12-31-2020 12-31-2019 12-31-2020 12-31-2019 12-31-2020 12-31-2019 12-31-2020 12-31-2019 499.983 363.837 (48) (35) 4.321.551 4.513.289 Distribution - - 191.178 41.228 9.057 109.912 4.550 26.431 153.383 51.717 4.292 71.574 9.432 16.368 53 (101) 141.721 274 18.191 260.485 6.396 72.916 97.623 306 10.072 181.485 4.904 58.121 - - - - - - - - - - - - - - - - - - - - 2 24.651 29.541 - 1.463 103.745 - 17.503 11.200 2 12.048 38.797 - 1.524 93.220 - - 1.785.402 1.688.908 42.359 1.186.821 35.933 1.244.456 8.362 34.317 25.178 1.973.507 1.842.861 1.263.497 1.305.567 14.821.340 16.610.174 Colombia Peru Eliminations Total 12-31-2020 12-31-2019 12-31-2020 12-31-2019 12-31-2020 12-31-2019 12-31-2020 12-31-2019 545.688 249.069 (48) (35) Distribution (50) (35) - - - - - - - - - - - - - - - - - - - 2 - - - - - - - - - - - - - - - - - - - - - - - - 16 (51) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 2.524.640 3.044.634 748.245 151.746 430.800 19.689 384.790 61.641 649.538 49.098 374.419 26.237 327.751 30.286 2.497.735 2.284.187 297.872 32 1.596 4.370.876 4.396.560 7.942 94.180 870.360 2.703.694 2.663.918 275.915 68 1.710 5.441.246 4.399.515 10.254 108.112 1.005.742 5.178.351 1.020.125 29.753 3.081.693 651.021 141.067 69.379 185.313 7.759.713 2.518.301 78.882 444.950 749.514 282.397 1.588.504 47.667 6.204.827 6.204.827 2.902.092 (82.505) 55.685 3.329.555 5.027.059 847.463 38.758 3.102.559 518.068 205.464 70.073 240.883 8.548.777 3.134.569 87.742 34.662 874.836 267.181 1.799.663 29.181 7.547.627 7.547.627 3.558.565 318.239 58.011 3.612.812 2.049.498 2.320.943 640.775 190.925 2.999 338.490 32.604 11.080 40.226 24.451 840.051 708.607 15.124 372 - - 16.537 96.591 2.820 992.664 992.664 3.941 346.671 55.685 586.367 70.801 4.526 316.584 79.684 7.082 45.041 18.179 53.750 11.280 116.577 35.692 8.356 2.239 21.175 704.526 587.914 4.150 358 - 4.828 107 100.851 6.318 956.484 956.484 4.106 282.082 58.011 612.285 471.377 397.449 28.492 729 - 459 38.188 4.299 1.761 734.229 734.229 147.019 520.910 - 66.300 272.270 45.569 8.369 135.398 42.785 8.584 12.103 19.462 467.924 392.855 25.274 - - 500 43.357 4.352 1.586 718.756 718.756 160.377 486.057 - 72.322 Other non-current financial liabilities Non-current lease liability Trade and other non-current payables Non-current accounts payable to related parties Other long-term provisions Deferred tax liabilities Non-current provisions for employee benefits Other non-current non-financial liabilities EQUITY Equity attributable to shareholders of Enel Américas Share and paid-in capital Retained earnings (losses) Issuance premiums Other reserves 6.033.093 1.412.245 35.221 1.961.838 394.384 712.820 10.243 1.476.884 29.458 3.768.120 3.768.120 2.222.793 (882.158) 6.946.561 2.153.800 58.311 2.171.380 - 845.798 13.257 1.683.454 20.561 5.070.330 5.070.330 2.849.227 (673.567) - 45 86.559 50.566 19.698 233.966 10.730 13.628 709.814 709.814 528.339 (67.928) - 7 149.205 34.662 23.710 210.460 11.006 716 802.057 802.057 544.855 223.667 - - - - 249.403 33.535 2.427.485 2.894.670 NON-CURRENT LIABILITIES 415.192 429.766 Total Liabilities and Equity 1.716.529 1.741.045 13.498.245 15.716.805 2.473.490 2.206.698 1.454.675 1.458.950 (48) (35) 19.142.891 21.123.463 348348 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationIN THOUSANDS OF U.S. DOLLARS – THUS$ b) Distribution Line of business Country ASSETS CURRENT ASSETS Cash and cash equivalents Other current financial assets Other current non-financial assets Trade and other current receivables Current accounts receivable from related parties Inventories Current tax assets Non-current assets or disposal groups held-for-sale or held for distribution to owners NON-CURRENT ASSETS Other non-current financial assets Other non-current non-financial assets Trade and other non-current receivables Non-current accounts receivable from related parties Investments accounted for using the equity method Intangible assets other than goodwill Property, plant and equipment Investment properties Right-of-use asset Deferred tax assets IN THOUSANDS OF U.S. DOLLARS – THUS$ Line of business Country LIABILITIES AND EQUITY CURRENT LIABILITIES Other current financial liabilities Current lease liability Trade and other current payables Current accounts payable to related parties Other current provisions Current tax liabilities Other current non-financial liabilities NON-CURRENT LIABILITIES Other non-current financial liabilities Non-current lease liability Trade and other non-current payables Non-current accounts payable to related parties Other long-term provisions Deferred tax liabilities Non-current provisions for employee benefits Other non-current non-financial liabilities EQUITY Equity attributable to shareholders of Enel Américas Share and paid-in capital Retained earnings (losses) Issuance premiums Other reserves Distribution Argentina Brazil 12-31-2020 12-31-2019 12-31-2020 12-31-2019 3.356.268 3.711.977 274.170 8.016 23.383 29.464 199.667 364 13.276 284.127 24.452 - 18.982 222.959 602 17.132 1.954.523 2.568.600 557.280 128.089 374.088 8.480 272.167 61.641 475.746 48.792 341.073 11.350 236.130 30.286 1.442.359 1.456.918 10.141.977 12.004.828 - - 6 60 460 32 133 124 - - - - 9 84 646 68 186 - 18 - 50.067 1.391.477 30.365 1.425.542 2.497.727 2.259.476 267.871 2.703.683 2.651.786 236.472 - - - - 4.174.705 5.281.728 32.860 7.942 42.236 859.160 40.609 10.254 74.554 1.005.742 Distribution Argentina Brazil 12-31-2020 12-31-2019 12-31-2020 12-31-2019 591.523 509.222 3.697.032 3.699.914 415.192 429.766 - 78 467.412 69.660 43.785 - 10.588 - - 45 86.559 50.566 19.698 233.966 10.730 13.628 709.814 709.814 528.339 (67.928) - 7 328.700 109.013 44.825 12.264 14.413 775.450 15.396 2.159.212 513.115 77.846 26.914 129.099 731.093 25.856 2.321.877 286.621 144.973 665 188.829 - - 7 149.205 34.662 23.710 210.460 11.006 716 802.057 802.057 544.855 223.667 6.033.093 1.412.245 35.221 1.961.838 394.384 712.820 10.243 1.476.884 29.458 3.768.120 3.768.120 2.222.793 (882.158) 6.946.561 2.153.800 58.311 2.171.380 - 845.798 13.257 1.683.454 20.561 5.070.330 5.070.330 2.849.227 (673.567) - - - - 249.403 33.535 2.427.485 2.894.670 Colombia Peru Eliminations Total Distribution 12-31-2020 499.983 141.721 274 18.191 260.485 6.396 72.916 12-31-2019 363.837 97.623 306 10.072 181.485 4.904 58.121 - - - - - 11.326 1.973.507 2 24.651 29.541 1.842.861 2 12.048 38.797 - - 1.463 103.745 1.785.402 - 17.503 11.200 1.524 93.220 1.688.908 - 8.362 - 12-31-2020 191.178 41.228 12-31-2019 153.383 51.717 - - 9.057 109.912 4.550 26.431 - - 4.292 71.574 9.432 16.368 - - 1.263.497 1.305.567 - - - - - - - - - - 42.359 1.186.821 35.933 1.244.456 - 34.317 - - 25.178 - 12-31-2020 (48) 12-31-2019 (35) - - - 53 (101) - - - - - - - - - - - - - - - - - 16 (51) - - - - - - - - - - - - - - 12-31-2020 4.321.551 748.245 151.746 430.800 2.524.640 19.689 384.790 61.641 12-31-2019 4.513.289 649.538 49.098 374.419 3.044.634 26.237 327.751 30.286 - 11.326 14.821.340 2.497.735 2.284.187 297.872 32 1.596 4.370.876 4.396.560 7.942 94.180 870.360 16.610.174 2.703.694 2.663.918 275.915 68 1.710 5.441.246 4.399.515 10.254 108.112 1.005.742 TOTAL ASSETS 1.716.529 1.741.045 13.498.245 15.716.805 2.473.490 2.206.698 1.454.675 1.458.950 (48) (35) 19.142.891 21.123.463 The Eliminations column corresponds to transactions between companies in different lines of business and country, primarily purchases and sales of energy and services. Colombia Peru Eliminations Total Distribution Liabilities associated with groups of assets or disposal groups held for sale or distribution to owners - - - 3.791 - - 12-31-2020 640.775 190.925 2.999 338.490 32.604 11.080 40.226 24.451 12-31-2019 545.688 70.801 4.526 316.584 79.684 7.082 45.041 18.179 12-31-2020 249.069 53.750 11.280 116.577 35.692 8.356 2.239 21.175 12-31-2019 272.270 45.569 8.369 135.398 42.785 8.584 12.103 19.462 840.051 708.607 15.124 372 - 16.537 - 96.591 2.820 992.664 992.664 3.941 346.671 55.685 586.367 704.526 587.914 4.150 358 471.377 397.449 28.492 729 - - 4.828 107 100.851 6.318 956.484 956.484 4.106 282.082 58.011 612.285 459 38.188 4.299 1.761 734.229 734.229 147.019 520.910 - 66.300 467.924 392.855 25.274 - - 500 43.357 4.352 1.586 718.756 718.756 160.377 486.057 - 72.322 12-31-2020 (48) 12-31-2019 (35) - - 2 (50) - - - (35) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 12-31-2020 5.178.351 1.020.125 29.753 3.081.693 651.021 141.067 69.379 185.313 12-31-2019 5.027.059 847.463 38.758 3.102.559 518.068 205.464 70.073 240.883 - 3.791 7.759.713 2.518.301 78.882 2.049.498 444.950 749.514 282.397 1.588.504 47.667 6.204.827 6.204.827 2.902.092 (82.505) 55.685 3.329.555 8.548.777 3.134.569 87.742 2.320.943 34.662 874.836 267.181 1.799.663 29.181 7.547.627 7.547.627 3.558.565 318.239 58.011 3.612.812 Total Liabilities and Equity 1.716.529 1.741.045 13.498.245 15.716.805 2.473.490 2.206.698 1.454.675 1.458.950 (48) (35) 19.142.891 21.123.463 349 Annual Report Enel Américas 2020The Eliminations column corresponds to transactions between companies in different lines of business and country, primarily purchases and sales of energy and services. IN THOUSANDS OF U.S. DOLLARS – THUS$ Line of business Country STATEMENTS OF COMPREHENSIVE INCOME (LOSS) REVENUE Revenues Energy sales Other sales Other services rendered Other income RAW MATERIALS AND CONSUMABLES USED Energy purchases Transportation expenses Other miscellaneous supplies and services CONTRIBUTION MARGIN Other work performed by the entity and capitalized Employee benefits expense Other expenses Argentina Distribution Brazil Colombia 2020 2019 2018 2020 2019 2018 2020 2019 2018 801,228 1,346,888 1,189,950 6,734,986 8,153,719 6,922,417 1,546,964 1,665,317 1,713,801 772,583 737,983 1,695 32,905 28,645 1,066,437 1,174,151 5,855,047 7,246,928 5,965,107 1,529,090 1,646,864 1,702,390 1,021,696 1,130,353 5,168,342 6,441,861 5,396,919 760,540 850,524 2,771 41,970 280,451 170 43,628 15,799 698 686,007 879,939 3,755 801,312 906,791 2,225 565,963 957,310 2,011 766,539 17,874 2,257 794,083 18,453 902,771 1,137 798,482 11,411 (530,338) (773,693) (729,223) (4,937,646) (5,820,384) (5,084,253) (886,155) (962,174) (1,032,452) (489,984) (17,806) (714,844) (16,990) (655,312) (3,451,265) (4,310,694) (3,621,322) (30,477) (658,797) (720,945) (609,880) (646,721) (162,393) (717,608) (165,554) (784,872) (171,492) 2020 2019 2018 886,663 950,349 912,950 2020 (27) 2019 (24) 2018 2020 2019 2018 (3) 9,969,814 12,116,249 10,739,115 Distribution Eliminations Total Peru 945,595 903,828 1,022 40,745 4,754 882,564 844,342 817 37,405 4,099 907,247 856,278 626 50,343 5,703 (599,116) (561,076) (619,181) (580,690) (610,701) (576,420) - - - (27) (24) 9,039,284 10,905,824 7,511,207 9,217,909 5,221 1,522,856 930,530 9,805 1,678,110 1,210,425 9,748,895 8,286,321 4,158 1,458,416 990,220 (6,953,255) (8,175,432) (7,456,629) (5,149,046) (6,323,836) (5,637,926) (838,996) (903,489) (811,849) (22,548) 270,890 (41,859) 573,195 (43,434) (827,584) (788,745) (853,051) (77,041) (79,012) (76,088) 460,727 1,797,340 2,333,335 1,838,164 660,809 703,143 681,349 (38,040) 287,547 (38,491) (34,281) (965,213) (948,107) (1,006,854) 331,168 302,249 (27) (24) 3,016,559 3,940,817 3,282,486 30,921 (123,792) (128,108) 43,311 (162,137) (147,303) 49,297 (219,849) (110,973) 76,469 (207,724) (579,070) 89,154 (401,264) (638,654) 82,661 (369,620) (545,006) 26,439 (76,778) 29,171 (71,028) (103,675) (104,774) 26,940 (69,130) (116,190) 9,317 (33,923) (49,043) 9,843 (36,596) (46,943) 9,632 (35,663) (44,081) - - 27 - - 24 143,146 (442,217) (859,869) 171,479 (671,025) (937,650) 168,530 (694,262) (816,247) GROSS OPERATING RESULT 49,911 307,066 179,202 1,087,015 1,382,571 1,006,199 506,795 556,512 522,969 213,898 257,472 232,137 - 1,857,619 2,503,621 1,940,507 Depreciation and amortization expense Impairment (losses) reversals recognized in profit or loss Gains (losses) for impairment in accordance with IFRS 9 (73,850) (53,534) (52,229) (366,439) (451,835) (343,158) (115,540) (121,669) (120,115) (58,395) (56,630) (51,969) (614,224) (683,668) (567,471) - - - - - - - 3,433 (5,234) - - - - 3,433 (5,234) (44,338) (42,501) (48,983) (167,035) (225,053) (54,784) (16,127) (7,272) (8,618) (14,040) (4,408) (4,319) (241,540) (279,234) (116,704) OPERATING INCOME (68,277) 211,031 77,990 553,541 705,683 608,257 375,128 431,004 389,002 141,463 196,434 175,849 - 1,001,855 1,544,152 1,251,098 FINANCIAL RESULT Financial income Cash and cash equivalents Other financial income Financial costs Bank borrowings Secured and unsecured obligations Other Income from indexation units Foreign exchange profits (losses) Share of profit (loss) of associates and joint ventures accounted for using the equity method Other gains (losses) Gain (loss) from other investments Gain (loss) from the sale of assets 127,247 (168,300) (234,772) (263,904) (49,171) (58,397) 22,606 10,657 4,422 6,235 (148,619) (379) (1) (148,239) 161,586 (1,018) 54,470 22,964 1,908 21,056 (168,782) (3,957) - (164,825) 206,845 (6,557) 33,729 5,917 27,812 (174,402) (133) - (174,269) 260,137 7,783 200,021 5,954 194,067 (366,558) (44,964) (54,629) (266,965) 252,649 19,928 232,721 (484,231) (78,675) (110,355) (295,201) 173,459 15,225 158,234 (421,956) (86,228) (72,172) (263,556) - - - (1,763) (3,190) (15,407) 8,571 3,894 4,677 (56,225) (8,732) (35,496) (11,997) - (1,517) 5,668 3,859 1,809 (64,047) (8,375) (40,051) (15,621) (57,795) 11,463 5,498 5,965 (67,561) (13,022) (37,995) (16,544) - (18) - (1,697) 28 7 - 7 20 39 - 39 (160) - - - - 870 - 870 - 2,143 - 2,143 - 386 - 386 - 21 - 21 - 73 6 67 - 166 - 166 Profit (loss) before taxes (45,636) 265,560 205,077 386,111 473,054 344,739 325,978 372,680 331,373 116,426 184,150 153,692 - 782,879 1,295,444 1,034,881 Income tax expense (income) (22,866) (76,548) (101,101) (118,872) 414,913 251,360 (97,881) (122,066) (125,242) (38,488) (55,649) (49,024) - (278,107) 160,650 (24,007) Profit (loss) from continuing operations PROFIT (LOSS) (68,502) (68,502) 189,012 189,012 103,976 103,976 267,239 267,239 887,967 887,967 596,099 596,099 228,097 228,097 250,614 250,614 206,131 206,131 77,938 77,938 128,501 128,501 104,668 104,668 504,772 1,456,094 1,010,874 504,772 1,456,094 1,010,874 Profit (loss) attributable to (68,502) 189,012 103,976 267,239 887,967 596,099 228,097 250,614 206,131 77,938 128,501 104,668 504,772 1,456,094 1,010,874 IN THOUSANDS OF U.S. DOLLARS – THUS$ Line of business Country Argentina STATEMENT OF CASH FLOWS 2020 2019 2018 2020 Distribution Brazil 2019 2018 2020 2019 2018 2020 2018 2020 2019 2018 2020 2018 Colombia Peru 2019 Distribution Eliminations Total 2019 Net cash flows from (used in) operating activities Net cash flows from (used in) investing activities Net cash flows from (used in) financing activities 159,556 116,487 47,301 797,144 877,694 154,589 391,312 357,362 404,403 100,855 251,699 165,498 - 1,448,867 1,603,242 771,791 (115,347) (184,578) (82,268) (740,848) (818,838) (533,164) (381,939) (303,833) (296,082) (126,493) (163,888) (111,035) - (1,364,627) (1,471,137) (1,022,549) (54,133) 75,332 (118) 56,395 84,704 551,548 22,061 (158,135) (79,475) 16,185 (66,594) (104,032) - 40,508 (64,693) 367,923 The Eliminations column corresponds to transactions between companies in different lines of business and country, primarily purchases and sales of energy and services. 350350 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - (3) - - - - (3) - - 3 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - (25,042) (22,938) (22,151) (219,907) (261,637) (216,603) 3,771 417 3,354 (26,894) (2,601) (23,379) (914) - (1,919) 4,439 677 3,762 (28,342) (1,204) (25,090) (2,048) - 965 4,470 661 3,809 (26,543) (1,722) (24,973) 152 - (78) - 5 - 5 - - 10,654 10,654 - (6) - (6) 223,020 14,687 208,333 (598,296) (56,676) (113,505) (428,115) 161,586 (6,217) 285,720 26,372 259,348 (745,402) (92,211) (175,496) (477,695) 206,845 (8,800) 223,121 27,301 195,820 (690,462) (101,105) (135,140) (454,217) 260,137 (9,399) 28 903 - 903 12,909 20 6 12,903 (160) 546 - 546 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationArgentina Colombia Peru Distribution Brazil Distribution Eliminations Total 2020 2019 2018 886,663 950,349 912,950 2020 (27) 2019 (24) 2018 2020 2019 2018 (3) 9,969,814 12,116,249 10,739,115 (38,491) (34,281) 331,168 302,249 (27) (24) - - - - - - - - (22,548) 270,890 (41,859) 573,195 (43,434) (827,584) (788,745) (853,051) (77,041) (79,012) (76,088) 460,727 1,797,340 2,333,335 1,838,164 660,809 703,143 681,349 (38,040) 287,547 882,564 844,342 817 37,405 4,099 945,595 903,828 1,022 40,745 4,754 907,247 856,278 626 50,343 5,703 - - - - - - - - (27) (24) (530,338) (773,693) (729,223) (4,937,646) (5,820,384) (5,084,253) (886,155) (962,174) (1,032,452) (489,984) (17,806) (714,844) (16,990) (655,312) (3,451,265) (4,310,694) (3,621,322) (30,477) (658,797) (720,945) (609,880) (646,721) (162,393) (717,608) (165,554) (784,872) (171,492) (599,116) (561,076) (619,181) (580,690) (610,701) (576,420) - - - The Eliminations column corresponds to transactions between companies in different lines of business and country, primarily purchases and sales of energy and services. 2020 2019 2018 2020 2019 2018 2020 2019 2018 801,228 1,346,888 1,189,950 6,734,986 8,153,719 6,922,417 1,546,964 1,665,317 1,713,801 772,583 737,983 1,695 32,905 28,645 1,066,437 1,174,151 5,855,047 7,246,928 5,965,107 1,529,090 1,646,864 1,702,390 1,021,696 1,130,353 5,168,342 6,441,861 5,396,919 760,540 850,524 2,771 41,970 280,451 170 43,628 15,799 698 686,007 879,939 3,755 801,312 906,791 2,225 565,963 957,310 2,011 766,539 17,874 2,257 794,083 18,453 902,771 1,137 798,482 11,411 IN THOUSANDS OF U.S. DOLLARS – THUS$ STATEMENTS OF COMPREHENSIVE Line of business Country INCOME (LOSS) REVENUE Revenues Energy sales Other sales Other services rendered Other income RAW MATERIALS AND CONSUMABLES USED Energy purchases Transportation expenses Other miscellaneous supplies and services CONTRIBUTION MARGIN Other work performed by the entity and capitalized Employee benefits expense Other expenses Depreciation and amortization expense Impairment (losses) reversals recognized in profit or loss Gains (losses) for impairment in accordance with IFRS 9 FINANCIAL RESULT Financial income Cash and cash equivalents Other financial income Financial costs Bank borrowings Secured and unsecured obligations Other Income from indexation units Foreign exchange profits (losses) Share of profit (loss) of associates and joint ventures accounted for using the equity method Other gains (losses) Gain (loss) from other investments Gain (loss) from the sale of assets Profit (loss) from continuing operations PROFIT (LOSS) IN THOUSANDS OF U.S. DOLLARS – THUS$ Line of business Country Net cash flows from (used in) operating activities Net cash flows from (used in) investing activities Net cash flows from (used in) financing activities 30,921 (123,792) (128,108) 43,311 (162,137) (147,303) 49,297 (219,849) (110,973) 76,469 (207,724) (579,070) 89,154 (401,264) (638,654) 82,661 (369,620) (545,006) 26,439 (76,778) 29,171 (71,028) (103,675) (104,774) 26,940 (69,130) (116,190) 9,317 (33,923) (49,043) 9,843 (36,596) (46,943) 9,632 (35,663) (44,081) - - 27 - - 24 GROSS OPERATING RESULT 49,911 307,066 179,202 1,087,015 1,382,571 1,006,199 506,795 556,512 522,969 213,898 257,472 232,137 (73,850) (53,534) (52,229) (366,439) (451,835) (343,158) (115,540) (121,669) (120,115) (58,395) (56,630) (51,969) - - - - - - - 3,433 (5,234) - - - (44,338) (42,501) (48,983) (167,035) (225,053) (54,784) (16,127) (7,272) (8,618) (14,040) (4,408) (4,319) OPERATING INCOME (68,277) 211,031 77,990 553,541 705,683 608,257 375,128 431,004 389,002 141,463 196,434 175,849 127,247 (168,300) (234,772) (263,904) (49,171) (58,397) (25,042) (22,938) (22,151) 3,771 417 3,354 (26,894) (2,601) (23,379) (914) - (1,919) 4,439 677 3,762 (28,342) (1,204) (25,090) (2,048) - 965 4,470 661 3,809 (26,543) (1,722) (24,973) 152 - (78) - 5 - 5 - 10,654 - 10,654 - (6) - (6) 22,606 10,657 4,422 6,235 (148,619) (379) (1) (148,239) 161,586 (1,018) 54,470 22,964 1,908 21,056 (168,782) (3,957) - (164,825) 206,845 (6,557) 33,729 5,917 27,812 (174,402) (133) - (174,269) 260,137 7,783 200,021 5,954 194,067 (366,558) (44,964) (54,629) (266,965) 252,649 19,928 232,721 (484,231) (78,675) (110,355) (295,201) 173,459 15,225 158,234 (421,956) (86,228) (72,172) (263,556) - - - (1,763) (3,190) (15,407) 8,571 3,894 4,677 (56,225) (8,732) (35,496) (11,997) - (1,517) 5,668 3,859 1,809 (64,047) (8,375) (40,051) (15,621) (57,795) 11,463 5,498 5,965 (67,561) (13,022) (37,995) (16,544) - (18) - (1,697) 28 7 - 7 20 39 - 39 (160) - - - 870 - - 870 2,143 - - 2,143 386 - - 386 - 21 - 21 - 73 6 67 166 - - 166 Profit (loss) before taxes (45,636) 265,560 205,077 386,111 473,054 344,739 325,978 372,680 331,373 116,426 184,150 153,692 Income tax expense (income) (22,866) (76,548) (101,101) (118,872) 414,913 251,360 (97,881) (122,066) (125,242) (38,488) (55,649) (49,024) (68,502) (68,502) 189,012 189,012 103,976 103,976 267,239 267,239 887,967 887,967 596,099 596,099 228,097 228,097 250,614 250,614 206,131 206,131 77,938 77,938 128,501 128,501 104,668 104,668 Profit (loss) attributable to (68,502) 189,012 103,976 267,239 887,967 596,099 228,097 250,614 206,131 77,938 128,501 104,668 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - (3) - - - - (3) - - 3 9,039,284 10,905,824 7,511,207 9,217,909 5,221 1,522,856 930,530 9,805 1,678,110 1,210,425 9,748,895 8,286,321 4,158 1,458,416 990,220 (6,953,255) (8,175,432) (7,456,629) (5,149,046) (6,323,836) (5,637,926) (838,996) (903,489) (811,849) (965,213) (948,107) (1,006,854) 3,016,559 3,940,817 3,282,486 143,146 (442,217) (859,869) 171,479 (671,025) (937,650) 168,530 (694,262) (816,247) - 1,857,619 2,503,621 1,940,507 - - - (614,224) (683,668) (567,471) - 3,433 (5,234) (241,540) (279,234) (116,704) - 1,001,855 1,544,152 1,251,098 - - - - - - - - - - - - - - (219,907) (261,637) (216,603) 223,020 14,687 208,333 (598,296) (56,676) (113,505) (428,115) 161,586 (6,217) 285,720 26,372 259,348 (745,402) (92,211) (175,496) (477,695) 206,845 (8,800) 223,121 27,301 195,820 (690,462) (101,105) (135,140) (454,217) 260,137 (9,399) 28 903 - 903 20 12,909 6 12,903 (160) 546 - 546 - 782,879 1,295,444 1,034,881 - (278,107) 160,650 (24,007) - - - 504,772 1,456,094 1,010,874 504,772 1,456,094 1,010,874 504,772 1,456,094 1,010,874 STATEMENT OF CASH FLOWS 2020 2019 2018 2020 2018 2020 2019 2018 Argentina Colombia 2020 Peru 2019 Distribution Brazil 2019 Distribution Eliminations 2018 2020 2019 2018 2020 Total 2019 2018 159,556 116,487 47,301 797,144 877,694 154,589 391,312 357,362 404,403 100,855 251,699 165,498 (115,347) (184,578) (82,268) (740,848) (818,838) (533,164) (381,939) (303,833) (296,082) (126,493) (163,888) (111,035) (54,133) 75,332 (118) 56,395 84,704 551,548 22,061 (158,135) (79,475) 16,185 (66,594) (104,032) - - - - - - - 1,448,867 1,603,242 771,791 - (1,364,627) (1,471,137) (1,022,549) - 40,508 (64,693) 367,923 The Eliminations column corresponds to transactions between companies in different lines of business and country, primarily purchases and sales of energy and services. 351 Annual Report Enel Américas 2020NOTE 35. Guarantees with third parties, contingent assets and, liabilities, and other commitments 35.1 Direct guarantees IN THOUSANDS OF U.S. DOLLARS – THUS$ Debtor Assets Committed Outstanding balance as of Guarantees released Creditor of Guarantee Company Relationship Type of Guarantee Type Currency Mitsubishi Corporation Enel Generación Costanera S.A. BNDES Enel Distribución Rio S.A. Various Creditors Enel Distribución Ceará S.A. Banco Bradesco Fundação Cesp Various Creditors Various Creditors Enel Distribución Goiás S.A. Enel Distribuicao Sao Paulo S.A. Enel Generación Piura S.A. Enel Distribución Perú S.A. Banco Continental SA Enel Generación Perú S.A. Creditor Creditor Creditor Creditor Creditor Creditor Creditor Creditor Pledge Combined cycle Pledge on collection and others Collection accounts Pledge on collection and others Collection accounts Pledge on collection and others Collection accounts Pledge on collection and others Collection accounts Mortgage Mortgage Mortgage Fixed assets Fixed assets Fixed assets ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Carrying Amount 39,285 3,966 10,969 19,911 21,775 23,408 32,315 9,569 As of December 31, 2020, and 2019, the carrying amount of property, plant and equipment pledged as security for liabilities amounted to ThUS$ 104,577 and ThUS$ 114,699, respectively (see Note 17.c.ii). As of December 31, 2020, the Company had future energy purchase commitments amounting to ThUS$ 71,322,737 (ThUS$ 96,201,541 as of December 31, 2019). 35.2 Indirect guarantees IN THOUSANDS OF U.S. DOLLARS – THUS$ Currency 12-31-2020 12-31-2019 2019 Assets 2020 Assets 2021 Assets ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ 46,802 3,845 74,198 43,802 16,933 24,065 7,129 47,844 13,205 98,388 77,054 56,835 33,187 5,180 816,798 934,752 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Bono H Bono M Contract Name BNP PARIBAS 4131 ITAÚ 4131 BNP PARIBAS 4131 II Type Joint & Several Joint & Several Guarantor DEBÊNTURES 9ª EMISSÃO (AMPL19) Guarantor Guarantor CITIBANK 4131 II Guarantor Guarantor Guarantor CITIBANK 4131 Guarantor Guarantor Guarantor NP 3ª Emissão Guarantor Guarantor Guarantor DEBÊNTURES - 23ª EMISSÃO - 1ª serie Guarantor DEBÊNTURES - 23ª EMISSÃO - 2ª série Guarantor Guarantor CITI 4131 FORTALEZA Fine Fine SCOTIABANK 4131 CELG II BNP PARIBAS 4131 II BNDES FINAME GIRO SCOTIABANK 4131 CELG FINEP - 1º Protocolo FINEP - 2º Protocolo BNP PARIBAS 4131 Ending Date October 2028 December 2029 December 2020 February 2022 March 2021 July 2021 December 2022 January 2021 May 2023 August 2022 November 2020 November 2020 March 2021 September 2021 September 2023 jun-20 April 2020 February 2020 April 2024 Debtor Name Relationship Type of Guarantee Balance pending as of Currency 12-31-2020 12-31-2019 Divided companies of the orignal debtor, Endesa Chile (joint debor Endesa Enel Generación Chile S.A. Américas and post merger Enel Américas) * Joint co-debtor Divided companies of the orignal debtor, Endesa Chile (joint debor Endesa Creditor of Guarantee Bondholders Enel Generación Chile Bonds Program (formerly Endesa Chile) Enel Generación Chile S.A. Américas and post merger Enel Américas) * Joint co-debtor US$ 70.897 67.285 Bondholders Enel Generación Chile Bonds Program (formerly Endesa Chile) DEBENTURES BNP PARIBAS CITIBANK ITAÚ BNP PARIBAS CITIBANK BNDES SCOTIABANK ITAÚ BBA INTERNATIONAL PLC SCOTIABANK BNP PARIBAS- CREDIT AGREEMENT DEBENTURES DEBENTURES BNP PARIBAS- CREDIT AGREEMENT CITIBANK FINEP FINEP Enel Distribución Rio S.A. Enel Distribución Rio S.A. Enel Distribución Rio S.A. Enel Distribución Rio S.A. Enel Distribución Rio S.A. Enel Distribución Goiás S.A. Enel Distribución Goiás S.A. Enel Distribución Goiás S.A. Enel Distribución Goiás S.A. Enel Distribución Goiás S.A. Enel Distribución Goiás S.A. Enel Brasil Enel Brasil Enel Brasil Enel Brasil Enel Brasil Enel Brasil Enel Brasil Enel Brasil Enel Brasil Enel Brasil Enel Brasil Enel Brasil Enel Brasil Enel Distribuicao Sao Paulo S.A. Enel Distribución Sao Paulo Enel Distribución Goias (ex-CELG) Enel Brasil Enel Generación Fortaleza Enel Brasil Enel Distribución Sao Paulo Enel Distribución Sao Paulo n.a n.a - - - - - - - - US$ US$ US$ US$ US$ US$ US$ US$ US$ US$ US$ US$ US$ US$ US$ US$ US$ US$ Guarantor Guarantor Guarantor Guarantor Guarantor Guarantor Guarantor Guarantor Guarantor Guarantor Guarantor Guarantor Guarantor Guarantor Guarantor Fine Fine Total 335.240 - 79.612 96.461 77.194 39.230 18.170 48.870 33.108 136.305 270.297 - - - - - - - 341.010 149.148 102.642 96.891 77.203 - 145.929 25.054 48.870 217.443 48.056 - 177.479 352.037 50.597 60.908 253 15.756 1.205.384 1.976.561 (*) Upon the demerger of the original issuer, between Endesa Chile (currently Enel Generación Chile S.A.) and Endesa Américas, and in accordance with the bond indenture, all entities arising from the demerger are liable for the debt, regardless that the payment oligation remains in Enel Generación Chile S.A. After the merger carried out in 2016, the Company became liable for the obligations of Endesa Américas. 352352 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information Creditor of Guarantee Company Relationship Type of Guarantee Type Currency Currency 12-31-2020 12-31-2019 2019 Assets 2020 Assets 2021 Assets Debtor Assets Committed Outstanding balance as of Guarantees released 46,802 3,845 74,198 43,802 47,844 13,205 98,388 77,054 816,798 934,752 16,933 24,065 7,129 56,835 33,187 5,180 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 35.1 Direct guarantees IN THOUSANDS OF U.S. DOLLARS – THUS$ Mitsubishi Corporation Enel Generación Costanera S.A. Pledge Combined cycle BNDES Enel Distribución Rio S.A. Pledge on collection and others Collection accounts Various Creditors Enel Distribución Ceará S.A. Pledge on collection and others Collection accounts Enel Distribución Goiás S.A. Pledge on collection and others Collection accounts Enel Distribuicao Sao Paulo S.A. Pledge on collection and others Collection accounts Banco Bradesco Fundação Cesp Various Creditors Various Creditors Enel Generación Piura S.A. Enel Distribución Perú S.A. Banco Continental SA Enel Generación Perú S.A. Mortgage Mortgage Mortgage Fixed assets Fixed assets Fixed assets Creditor Creditor Creditor Creditor Creditor Creditor Creditor Creditor ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Carrying Amount 39,285 3,966 10,969 19,911 21,775 23,408 32,315 9,569 As of December 31, 2020, and 2019, the carrying amount of property, plant and equipment pledged as security for liabilities amounted to ThUS$ 104,577 and ThUS$ 114,699, respectively (see Note 17.c.ii). As of December 31, 2020, the Company had future energy purchase commitments amounting to ThUS$ 71,322,737 (ThUS$ 96,201,541 as of December 31, 2019). 35.2 Indirect guarantees Guarantor DEBÊNTURES 9ª EMISSÃO (AMPL19) IN THOUSANDS OF U.S. DOLLARS – THUS$ Contract Name Type Joint & Several Joint & Several Bono H Bono M Guarantor BNP PARIBAS 4131 Guarantor CITIBANK 4131 II Guarantor ITAÚ 4131 Guarantor BNP PARIBAS 4131 II Guarantor CITIBANK 4131 Guarantor BNDES FINAME GIRO Guarantor SCOTIABANK 4131 CELG Guarantor NP 3ª Emissão Guarantor SCOTIABANK 4131 CELG II Guarantor BNP PARIBAS 4131 II Guarantor DEBÊNTURES - 23ª EMISSÃO - 1ª serie Guarantor DEBÊNTURES - 23ª EMISSÃO - 2ª série Guarantor BNP PARIBAS 4131 Guarantor CITI 4131 FORTALEZA Fine Fine FINEP - 1º Protocolo FINEP - 2º Protocolo Ending Date October 2028 December 2029 December 2020 February 2022 March 2021 July 2021 December 2022 January 2021 May 2023 August 2022 November 2020 November 2020 March 2021 September 2021 September 2023 jun-20 April 2020 February 2020 April 2024 Bondholders Enel Generación Chile Bonds Program (formerly Endesa Chile) Creditor of Guarantee DEBENTURES BNP PARIBAS CITIBANK ITAÚ BNP PARIBAS CITIBANK BNDES SCOTIABANK SCOTIABANK DEBENTURES DEBENTURES CITIBANK FINEP FINEP ITAÚ BBA INTERNATIONAL PLC BNP PARIBAS- CREDIT AGREEMENT BNP PARIBAS- CREDIT AGREEMENT Bondholders Enel Generación Chile Bonds Program (formerly Endesa Chile) Enel Generación Chile S.A. Enel Generación Chile S.A. Enel Distribución Rio S.A. Enel Distribución Rio S.A. Enel Distribución Rio S.A. Enel Distribución Rio S.A. Enel Distribución Rio S.A. Enel Distribución Goiás S.A. Enel Distribución Goiás S.A. Enel Distribución Goiás S.A. Enel Distribución Goiás S.A. Enel Distribución Goiás S.A. Enel Distribución Goiás S.A. Enel Distribuicao Sao Paulo S.A. Enel Distribución Sao Paulo Enel Distribución Goias (ex-CELG) Enel Generación Fortaleza Enel Distribución Sao Paulo Enel Distribución Sao Paulo ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Debtor Name Relationship Divided companies of the orignal debtor, Endesa Chile (joint debor Endesa Américas and post merger Enel Américas) * Divided companies of the orignal debtor, Endesa Chile (joint debor Endesa Américas and post merger Enel Américas) * Enel Brasil Enel Brasil Enel Brasil Enel Brasil Enel Brasil Enel Brasil Enel Brasil Enel Brasil Enel Brasil Enel Brasil Enel Brasil Enel Brasil Enel Brasil Enel Brasil Enel Brasil n.a n.a Type of Guarantee Balance pending as of Currency 12-31-2020 12-31-2019 Joint co-debtor US$ 70.897 67.285 Joint co-debtor Guarantor Guarantor Guarantor Guarantor Guarantor Guarantor Guarantor Guarantor Guarantor Guarantor Guarantor Guarantor Guarantor Guarantor Guarantor Fine Fine US$ US$ US$ US$ US$ US$ US$ US$ US$ US$ US$ US$ US$ US$ US$ US$ US$ US$ 335.240 - 79.612 96.461 77.194 39.230 - 18.170 48.870 - - 33.108 136.305 270.297 - - - - 341.010 149.148 102.642 96.891 77.203 - 145.929 25.054 48.870 217.443 48.056 - 177.479 352.037 50.597 60.908 253 15.756 Total 1.205.384 1.976.561 353 Annual Report Enel Américas 202035.3 Litigation and Arbitration Proceedings As of the date of these consolidated financial statements, the most relevant litigation and arbitration proceedings of Enel Américas and its subsidiaries are the following: a) Pending lawsuits, Enel Américas The Chilean Tax Authority (SII) carried out a regular audit for the 2012 business year (Tax Year 2013). On September 4, 2015, it provided notice of a tax assessment for the additional tax due, based on article 74 of the Income Tax Act, justifying its position on the ground that a modification of the Taxable Profits Fund (Fondo Utilidad Tributaria or FUT) allegedly entailed a modification of the base for the additional tax. The company responded that the SII had accepted the income rectification and the income tax return it had filed, thereby accepting the declared tax amounts. On December 23, 2015, Enel Américas (formerly named Enersis S.A.) filed a tax claim before the Tax and Customs Courts (TTA), claiming that the tax obligation had been fully complied with, since the additional tax had been paid provisionally on a monthly basis, and the tax obligation had been fully settled and resolved when the income rectification was made on May 8, 2014, which included the rectification of the FUT amount. An unfavorable ruling was rendered and the company filed an appeal in January 2018. The case was pleaded before the Court of Appeals on September 12, 2018 and the decision on the appeal was unfavorable, with the dissenting vote of one judge. On November 15, 2018, the company filed another appeal, which was declared admissible by the Court of Appeals and is pending in the Supreme Court. In January 2019, the General Treasury of the Republic notified Enel Américas of a tax payment due. On March 1, 2019, the company requested the ruling of the Court of Appeals on the suspension of tax collection presented on November 8, 2018. On March 11, 2019, the Court of Appeals decided to suspend the collection of taxes for the maximum legal term of six months. On March 15, 2019, the case entered the Supreme Court for its substantive admissibility examination. On March 19, 2019, the company’s cassation appeal was accepted. In September 2019, the extension of the tax collection suspension was requested. On October 25, 2019, the Supreme Court agreed to renew the suspension of the tax collection. During the interim period while the Supreme Court had not yet issued a judgment on the suspension of tax collection, the General Treasury of the Republic seized funds in a current account of Enel Américas. The Treasury cannot dispose of such funds by order of the Supreme Court. In December 2019, a renewal of the tax collection suspension was requested. On January 3, 2020, the Court granted the company's request. On March 30, 2020, a renewal of the fund transfer suspension was requested. On April 7, 2020, the Court granted the company's request. On June 15, 2020, a renewal of the tax collection suspension was requested. On June 22, 2020, the Court granted the company's request. On September 4, 2020, the renewal of the tax collection suspension was requested. On September 9, 2020, the Court granted the company's request. On November 27, 2020, the Company requested a renewal of the tax collection suspension. On December 2, 2020, the Court granted the company's request.. The amount under dispute is ThCh$ 7,744,293, or approximately ThUS$ 10,900. b) Subsidiary pending lawsuits: Colombia: 1. José Rodrigo Alvarez and approximately 1,400 other individuals — all of them residents of the municipality of Garzón — filed a class-action lawsuit, currently pending in the Fourth Civil Court of the Circuit of Bogotá, against Emgesa S.A. ESP. It is claimed that, as a consequence of the construction of El Quimbo hydroelectric project, their income from artisanal and business activities was reduced by an average of 30% even though the socioeconomic study of the project had taken this into account. The amount of the claim is ThUS$ 9,021, equivalent to ThCOP 30,870,677. The case has been in the evidentiary stage since 2016 and no expert opinion has been issued due to the counterparty’s lack of activity. On May 8, 2019, the court granted approximately US$200 for expert expenses, without the plaintiff having paid the expenses to date. The company is waiting for a decision on the withdrawal of the request for the expert’s opinion and the final arguments to continue. 2. A lawsuit for nullity and restoration of the right was filed by Emgesa against the Colombian Directorate of National Taxes and Customs (DIAN) before the Administrative Court of Huila. Emgesa (formerly Central Betania) enjoyed a tax benefit on corporate income tax, known as the "Páez Law", which established a tax exemption for companies located in a specific area that suffered a catastrophe. The Colombian tax authorities (DIAN) challenged the method used by Emgesa to determine 354354 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Informationthe taxable base of the income tax using this benefit. Basically, DIAN’s position is that certain Emgesa revenues, such as adjustments for inflation and non-operating income, do not qualify for this tax exemption because they are not related to the electricity generation activity. However, Emgesa believes that, in accordance with the Law, this special benefit applies to the company as an entity and not just to certain company revenues. On July 27, 2017, the Huila Administrative Court issued a ruling accepting the arguments of DIAN, considering that there is no benefit on these revenues, considering that they do not come from the development of the company's corporate purpose. The ruling did not provide a substantive legal basis and did not rule on various defenses presented by the company. Similarly, the Court confirmed the sanction of inaccuracy without analyzing the difference in criteria or defining the punishable act. Therefore, on August 10, 2017, Emgesa filed an appeal reiterating that the benefit falls on the company and the law does not discriminate its application when it comes to non-operating income. New rulings of the Council of State that support the position of the company were considered. It was insisted that there is a difference in criteria and therefore the sanction of inaccuracy should be lifted. On September 22, 2017, the proceeding was assigned in the Council of State where the second instance review took place. On November 24, 2017, Emgesa’s lawyers presented the closing arguments and in January 2018 the file entered the magistrate's office for the final decision. On October 15, 2020, the State Council issued a second and final judgment unfavorable to Emgesa, which concluded that the exemption from the Paez Law only benefited operating income. The judgment ordered Emgesa to pay COP $63,766 million (ThUS$ 18,634) for the higher tax assessed, a penalty, indexation of the penalty and interest on arrears. This amount was paid on November 26, 2020. 3. Comepez S.A. and other fish farm and artisanal fishermen companies filed a class action lawsuit No. 41001233300020140052400 against Emgesa S.A. ESP, the Colombian Ministry of Environment and Development and the Colombian Ministry of Mines and Energy, which is currently under review by the Huila Administrative Court. Fishermen are seeking the protection of collective rights and a healthy environment, public health, food security and safety and the prevention of technically foreseeable disasters. Furthermore, the plaintiffs are seeking the issuance of an order compelling the entities to immediately take the necessary corrective and preventive measures to halt the imminent danger of massive fish mortality in the Betania reservoir fish farming projects, relating to the filling of the reservoir and the operation of the El Quimbo hydroelectric project. This lawsuit does not have a specified monetary amount because of its nature as an action regarding the protection of collective rights. The matter has been pending decision since June 18, 2018. During the evidentiary stage, the environmental authorities ANLA and CAM jointly presented a report in which they stated that the company had complied with the obligations imposed by the Administrative Court within the injunctive measures, even though the matter has no quantified claims. The final arguments were presented by Emgesa on June 15, 2018, and the matter was submitted for consideration on June 18, 2018. The company expects that a first judgment will be issued before the end of the first quarter of 2021. On January 12, 2021, the first instance judgment by the Court of Huila (formally noticed to the Company on February 1, 2021) became known, which, although recognized that the oxygenation system implemented by Emgesa mitigated the risks associated with the protection of fauna in the Betania basin, imposed a number of obligations on the environmental authorities involved, as well as on Emgesa itself. In particular, the latter is required to implement a decontamination project aimed at ensuring that the water in the basin does not generate risks for the river's flora and fauna, which will be subject to verification by ANLA, as well as to permanently ensure the operation of the oxygenation system already implemented, adapting it to the parameters required by ANLA. The Company will file an appeal on the decision once the Court has defined certain requests for clarification and integration of the judgment." The first instance judgment only ordered the Company to conduct a decontamination project but there was no economic recognition for the plaintiff. Should the judgment be confirmed such project will be assumed by the business line and there will be no payments. 4. In a class-action lawsuit filed by several residential complexes — including La Sabana Medical Center — against Codensa S.A. in the First Administrative Court of the Bogotá Capital District under No. 1-001-33-34-001-2014-00056-00, the plaintiffs demand the refund of an alleged tariff cost excess that they were charged due to a failure to apply a tariff benefit to which the plaintiffs argue they are entitled as Voltage Level One users and infrastructure owners, as established in Resolution No. 082 of 2002, modified by Resolution No. 097 of 2008. Codensa responded to the complaint by rejecting it in its entirety. A conciliation hearing was held between the parties, without success. An evidence order was issued on May 15, 2018 and the joinder of new plaintiffs was denied. The proceedings are in the evidentiary stage, and the estimated value of this lawsuit is approximately COP337,000 million (ThUS$ 98,480). A judgment has not yet been issued because there is no certainty of the plaintiffs' claim. 355 Annual Report Enel Américas 20205. Henry Andrew Barbosa filed a class-action lawsuit against Codensa and the Special Public Services Administrative Unit (UAESP) under File No. 2009-0069 of the Bogotá Capital District before the Tenth Administrative Judge of the Bogotá Capital District. Subsequently, Codensa filed an action for nullification and restoration of rights against the UAESP, under File No. 2018-00718, which is currently pending before the Administrative Court of Cundinamarca. In the class action, the judge ordered Codensa and the UAESP to reassess the 1997 Public Lighting Agreement signed between them, since it was determined that there were 8,661 fewer streetlights than Codensa had taken into account in its billing. In 2014, the parties agreed to the reassessment and carried out a transaction for the periods 1998 to 2004, resulting in a debt of COP14,433 million (ThUS$4,218) owed by Codensa to the UAESP. By an order of June 1, 2017, the Court refused to consider the above-mentioned 2014 agreement and instead ordered the UAESP to carry out a unilateral assessment. In compliance with the order, the UAEPS issued Resolution No. 000730 of December 18, 2017, where it determined that Codensa should pay COP113,082 million (ThUS$33,046). The nullification and restoration of rights action filed against the UAESP was in the notification stage and the UAESP was in the process of answering the demand. On August 21, 2019, the Administrative Court of Cundinamarca at the initial hearing determined that no further evidence was needed and ruled against Codensa, subtracting any value from the reassessment agreed by the parties in 2014. An appeal was filed and submitted to the Council of State. The UAESP had begun the collection process, but the collection was suspended with the admission of the nullification action. Codensa paid COP24,400 million (ThUS$7,130), which it considers its obligation to pay under the 2014 reassessment agreements. In total, the nullification action has an approximate value of COP88,698 million (ThUS$ 25,920). 6. On December 4, 2017, Grupo Energía de Bogotá (GEB) notified Enel Américas of its intention to submit to arbitration the dispute between the parties regarding the distribution of the profits of the 2016 fiscal year for Emgesa and Codensa in accordance with the provisions of the Investment Framework Agreement (AMI). GEB claims that Enel Américas is acting contrary to its own previous conduct by voting for a 70% distribution of profits, under the allegedly incorrect interpretation that this proportion corresponds to “all available profits in accordance with good commercial practice.” Furthermore, GEB claims that Enel Américas’ conduct violates the provisions of Clause 3.8 of the AMI, which regulates the form of distribution of profits by obliging the parties to vote in favor of the distribution of all (100%) profits that may be distributed during each fiscal year. The claims seek a declaration of Enel Américas’ breach of the AMI and the consequent distribution of 100% of the profits of the 2016 fiscal year for each company. The amounts claimed not received by GEB as a consequence of the partial distribution of profits were COP63,619 million (ThUS$18,591) for Codensa and COP82,820 million (ThUS$24,202) for Emgesa. GEB decided to withdraw the claims to make amendments and to include new issues. On October 8, 2018, GEB filed a new arbitration claim with the Arbitration Center of the Chamber of Commerce of Bogotá for the alleged breach of the AMI in relation to the failure by Emgesa and Codensa to make full distributions of dividends in 2016, 2017, and 2018 and a breach of other provisions of the shareholders’ agreements and requesting compensation for damages. The new claims amount to ThCOP1,876,417,133 (ThUS$ 548,339), plus interest. The arbitration is in the closing arguments phase and a hearing was scheduled to receive final arguments on February 10, 2021. 7. Thirty-seven applications for arbitration proceedings were filed by Grupo Energía Bogotá against Codensa (17) and Emgesa (20), seeking the nullification of the Minutes of the Board of Directors and the Shareholders’ General Meeting. These applications present, among others, the following arguments: i) Conflicts of Interest with economically-affiliated companies; ii) Impossibility of ratifying authorizations to contract; iii) Improper waiving of conflicts of interest; iv) Violation of the AMI in terms of distribution of profits; and v) insufficient information for decision making. The applications are similar in that they indicate that the decisions are flawed because they contravene fundamental principles, they are null and void due to their unlawful object and reason, they breach AMI provisions regarding the distribution of profits and certain minutes were approved while the arbitration was pending. The amount is undetermined. However, the case involves decisions made about transactions with companies with a high-impact economic link to the business. On July 5, 2018, the selection of arbitrators took place given that there was no agreement regarding the appointment of arbitrators or the consolidation of the arbitrations with the arbitration against Enel Américas. These arbitration proceedings are in their initial phase. By order dated June 21, 2019, the Court of Arbitration consolidated the proceedings into a single arbitration because the claims are similar, they can be carried out in the same proceeding, are between the same parties, and use the same evidence. Accordingly, only one arbitration will be conducted with respect to Emgesa which caused GEB to revise its claim. With respect to Codensa, a similar decision was issued on October 25, 2019, ordering the consolidation of 17 arbitration proceedings into a single proceeding. In the Emgesa arbitration, the response to the claim was submitted; 356356 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Informationhowever, the parties mutually agreed to suspend the proceeding until December 28, 2020. In the Codensa arbitration, the response to the claim was submitted; however, the parties by mutual agreement requested suspension of the proceeding until December 28, 2020. Subsequently, there was an additional extension of this suspension. Peru: 8. The Peruvian National Customs and Tax Authority (SUNAT) challenged Enel Generación Perú S.A.A. (formerly known as Edegel), through Notices of Assessments and Penalties, about the deduction as an expense of the depreciation corresponding to part of the highest book value assigned to the assets in the appraisal carried out as a result of their voluntary revaluation in 1996. The rejected value of the appraisal relates to financial interest paid during the construction stage of the power generation plants. SUNAT’s position is that Enel Generación Perú has neither reliably demonstrated that it was necessary to obtain financing in order to build the generation plants that were revalued, nor that such financing had actually been incurred. Enel Generación Perú’s position is that SUNAT cannot demand such proof, since the appraisal is intended to assign to the asset the market value appropriate to it at the time the appraisal is conducted, and not its historical value. In this case, the appraisal methodology took into consideration the fact that power plants of such magnitude are built with financing. If SUNAT did not agree with the valuation, it should have presented its own appraisal, which it did not do. For the year 1999: In February 2012, the Tax Court (“TF”) resolved the lawsuit regarding the 1999 tax year in favor of Enel Generación Perú with regard to two plants and against it with respect to four plants, reasoning that only the first two were proven to have been financed. Enel Generación Perú paid the taxes reassessed by SUNAT in June 2012, amounting to ThPEN37,710 (ThUS$10,423), which will have to be refunded if a favorable outcome is obtained in the complaint filed with the judicial courts (“PJ”) against the TF’s decision, filed in May 2012 against SUNAT and the TF. In March 2018, Enel Generación Perú received the Court of Appeals’ decision declaring the PJ’s decision null and void and ordering the rendering of a determination on the claim. The file was referred to the PJ in June 2018. The judgment was notified to Enel Generación Perú in January 2020, whereby the PJ declared all claims groundless. In the same month, Enel Generación Perú filed an appeal. In July 2020, Enel Generación Perú was notified of the resolution granting the appeal. In September 2020, the case was heard in the Court of Appeals and pleadings were filed. In October 2020, Enel Generación Perú was notified of the judgment issued by the Court of Appeals, which partially confirmed the first instance judgment, declaring the main claim groundless (partial nullity of the TF resolution, as it refused to include “interest during construction” in the calculation of the “new similar value”), as well as the second main claim (SUNAT is ordered to consider such interest in the calculation model) and their respective supplementary claims. Likewise, the Court of Appeals voided the judgment and ordered the file to be sent back to the PJ for a ruling on the subordinate claim (reimbursement of late interest for undue delay). This position placed Enel Generación Perú in an unusual situation since, on the one hand, it had to challenge the judgment before the Supreme Court through a cassation appeal and, on the other hand, the PJ would have to rule on the subordinate claim. In November 2020, Enel Generación Perú filed a cassation appeal against the aforementioned judgment issued by the Court of Appeals. In that same month, Enel Generación Perú was notified of the Court of Appeal’s resolution, whereby the Court of Appeals deemed the cassation appeal to have been filed; however, Enel Generación Perú will not escalate the appeal to the Supreme Court until the PJ rules on the subordinate claim. For the years 2000 and 2001: The reasoning adopted for the 1999 tax year was applied to the 2000 and 2001 periods and Enel Generación Perú paid ThPEN18,786 (ThUS$5,193). Judicial case: In March 2018, the PJ rendered a decision declaring the lawsuit groundless, and ruled in favor of Enel Generación Perú S.A.A. with respect to the non-application of interest on the advances from March to December 2001. During the same month, Enel Generación Perú S.A.A. appealed the unfavorable portion of the judgment. In December 2018, the oral report was submitted and several briefs were submitted. In December 2018, the PJ issued a ruling to void the trial court decision, ordering that the trial court issue a new decision considering the arguments set out in its ruling. In March 2019, the PJ returned the case file to the trial court. In May 2020, Enel Generación Perú S.A.A. learned that the 357 Annual Report Enel Américas 2020 trial court had issued a judgment declaring that the claim of Enel Generación Perú S.A.A. was partially admissible, but only with respect to the claim related to the collection of late interest for failure to make payments on account for the periods from March to December 2001. The other claims were declared groundless. In August 2020, Enel Generación Perú S.A.A. appealed the trial court's decision. In December 2020, Enel Generación Perú S.A.A. was notified of the trial court’s resolution, which ordered a stay of execution for the appeal and the file was submitted to the PJ. Administrative case: In August 2017, Enel Generación Perú S.A.A. was notified of the Compliance Order, which was issued taking into consideration the TF’s ruling for the 1999 fiscal year, by means of which SUNAT reassessed the tax due for the period 2000-2001. According to SUNAT, Enel Generación Perú S.A.A.’s updated tax due amounted to PEN 220 million, because of the annual corporate tax for 2000, a related fine, and payments on account for the 2001 fiscal year. Also, the discounted credits in the company’s favor amounted to PEN 22 million for the 2001 corporate tax. In September 2017, Enel Generación Perú S.A.A. was served with a decision in which SUNAT corrected the Compliance Order of August 2017, stating that it had applied an incorrect restatement factor to the assessed tax, which resulted in the tax assessed by SUNAT amounting to PEN 190 million, rather than PEN 220 million. In September 2017, Enel Generación Perú S.A.A. appealed the above-mentioned Compliance Order. Enel Generación Perú S.A.A. presented written arguments in July 2018. In October, the oral report was made, and arguments were presented. Forthcoming legal actions: For the year 1999: Enel Generación Perú S.A.A is awaiting the trial court’s issuance of a judgment on Enel Generación Perú´s lawsuit. For the years 2000-2001: Enel Generación Perú is awaiting the TF’s issuance of the corresponding resolution and for the trial court to issue a ruling on Enel Generación Perú’s lawsuit. The total amount involved in these lawsuits is estimated at ThPEN75,821 (ThUS$20,958). 9. SUNAT disallowed recognition by Enel Distribución PerúS.A.A. (formerly known as Edelnor) of the commercial energy losses recognized by the company between 2006 and 2011, equivalent to approximately 2% of the total purchased and self-generated energy. SUNAT challenged the cost of sale of that energy determined by Enel Distribución Perú S.A.A., on the basis of an energy theft crime that was not established by the courts of law. SUNAT’s position is that the infeasibility of a legal action can only be demonstrated through a police report and a resolution issued by the Attorney General (Public Prosecutor’s Office) declaring, on a definitive or provisional basis, the filing of the criminal action for energy theft. The TF has rendered some decisions stating that such a resolution is necessary. Enel Distribución Perú’s position is that since the law does not establish a specific mechanism on how the unfeasibility of a legal action will be demonstrated, it is possible to present any available, appropriate and reasonable evidence for this situation (free review of evidence). Enel Distribución Perú chose to demonstrate that it was futile to prosecute these crimes through legal actions, presenting reports produced by specialized engineers, reports issued by the General Directorate of Electricity (DGE) of the Ministry of Energy and the Mines and by the Energy and Mining Investment Supervisor Authority (OSINERGMIN), the Peruvian electricity regulatory authority, demonstrating that there was no sense to go to the courts and prosecute a crime that would be futile because the perpetrators of the crime, the exact occurrence of theft, the specific place where it occurs and the amount stolen at each opportunity could not be identified. The TF has allowed this type of proof in case of theft in the distribution of water (an industry similar to the distribution of electricity) and has not indicated that a resolution issued by the Attorney General (Public Prosecutor’s Office) is the only admissible evidence demonstrating the futility of pursuing legal action in this case. The proceedings have progressed as follows: For the year 2006: The TF ruled against Enel Distribución Perú in the appeal, although it agreed with Enel Distribución Perú’s position based on the disputed issue. Therefore, the TF upheld the defense after concluding that Enel Distribución Perú did not demonstrate the amount of commercial losses attributable to theft. This finding stems from the fact that commercial energy loss is not exclusively composed of stolen energy, but also of energy lost due to other reasons, such as measurement 358358 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information errors, billing errors and errors in estimating physical losses. Due to the immediate enforceability of the TF judgment, Enel Distribución Perú paid the tax due in full to SUNAT amounting to a total of PEN14,517 million (US$4,013 million). Following a decision partially in favor of Enel Distribución Perú, in January 2017, both SUNAT and Enel Distribución Perú filed cassation appeals with the Supreme Court of Justice. In January 2018, Enel Distribución Perú was served with the decision dismissing its cassation appeal and upholding SUNAT’s extraordinary appeal. In November 2019, Enel Distribución Perú was served with the judgment of the Supreme Court stating that the cassation appeal filed by SUNAT should be declared founded, and, consequently, nullified the second instance judgment, and ordered that a new decision had to be issued. In August 2020, Enel Distribución Perú was served with the judgment of the Court, which declared the subordinate claim admissible and, consequently, ordered the return of the administrative file to SUNAT, in order for SUNAT to determine, based on the existing evidence, the percentage of extraordinary losses due to electricity theft. In the same month, the TF and SUNAT filed appeals against the judgment, which were submitted to the Supreme Court in September 2020. For the years 2007 and 2008: Considering the result obtained in connection with the 2006 tax year, Enel Distribución Perú initiated a new defense strategy: (i) theoretically, commercial energy losses may be composed of errors of measurement, billing and estimate of physical losses; (ii) since such losses are determined by “subtraction” (the energy that entered the system “minus” the energy supplied to customers and “minus” the physical loss of energy), commercial energy loss may actually be composed of such errors only in cases of under-measurement or under-invoicing or underestimation of physical losses; (iii) if there are no such errors, the amount shown as commercial energy loss is composed only of losses from theft, (iv) during the inspection, SUNAT reviewed both the billing and the physical loss report and neither challenged nor investigated them; therefore, in this respect, SUNAT cannot raise billing errors or errors in estimating physical losses as part of the commercial energy loss and (v) with respect to measurement errors, the margins for this type of errors are minimal as a business’s electrical energy distribution is regulated. For the year 2007: Enel Distribución Perú presented evidence that a small amount of loss was attributable to under- measurement. At that time, commercial energy losses consisted mainly of theft (95%) and, to a lesser extent (5%), measurement errors. Enel Distribución Perú presented an oral report and its arguments. For the year 2008: Enel Distribución Perú presented evidence that demonstrated an excess of measurement. Therefore, commercial energy losses were only theft. In December 2019, Enel Distribución Perú was notified of the TF’s ruling which rendered a partially favorable decision. In its decision, the TF (i) revoked and left without effect the position of the SUNAT related to the 2008 income tax; (ii) revoked the tax and fine assessments related to advance payments for the period March to December 2008; (iii) confirmed the tax and fine assessments related to the advance payments for the periods January and February 2008. In August 2020, Enel Distribución Perú was notified that a Contentious Administrative Lawsuit against the decision of the TF had been filed by SUNAT. In September 2020, Enel Distribución Perú answered the lawsuit. For the year 2009: SUNAT objected to the deduction of commercial energy losses, for the same reasons as in previous years. In November 2013, Enel Distribución Perú filed a claim in which, in addition to reiterating the reasons why the commercial loss of energy is deductible, provided evidence that demonstrated that the loss of commercial energy consisted mainly of theft (93%) and, to a lesser extent (7%), of measurement errors. In June 2014, SUNAT requested information on the details of the “standard energy loss” calculation. In July 2014, Enel Distribución Perú responded to the points requested by SUNAT. In August 2014, SUNAT served Enel Distribución Perú with the decision ruling on the latter’s claim. In that decision, SUNAT set aside the objection related to the standard loss of commercial energy, confirming the excess attributable to such amount. In September 2014, Enel Distribución Perú paid the debt it owed to SUNAT amounting to ThPEN5,274 (ThUS$1,458), which amount includes default interest on account payments and fines, and filed an appeal with the TF. In July 2019 Enel Distribución Perú was notified of the TF’s ruling which rendered an unfavorable decision against the company. In October 2018, Enel Distribución Perú filed a lawsuit against the TF ruling before the PJ, which was admitted by the court the same month. In December 2019, the PJ received the response to the claim from SUNAT and the TF, declared the process ready to proceed, set out the controversial points and admitted the evidence. In the same month, Enel Distribución Perú requested that a date was set for the oral report and requested a hearing. In July 2020, the oral report was scheduled for April 21, 2021. 359 Annual Report Enel Américas 2020 For the year 2010: SUNAT only objected to the deduction of commercial energy losses corresponding to the excess of the standard commercial energy loss. In July 2015, Enel Distribución Perú paid the debt owed to SUNAT amounting to ThPEN5,084 (ThUS$1,405) including taxes, interest on late payments and fines. A claim was filed with SUNAT. In April 2016, Enel Distribución Perú was notified of SUNAT’s decision, which maintained the objections, and an appeal was filed that same month. In January 2020, Enel Distribución Perú was notified of the TF’s resolution confirming SUNAT's position: not allowing for the deduction of the excess of the standard energy loss. In June 2020, Enel Distribución Perú filed a Contentious Administrative Lawsuit against the TF’s resolution. In September 2020, the TF and SUNAT answered the claim. For the year 2011: SUNAT also objected to the deduction of commercial energy losses corresponding to the excess of the standard commercial energy loss. In July 2016, Enel Distribución Perú paid the debt owed to SUNAT amounting to ThPEN3,126 (ThUS$864), which amount includes default interest on account payments and fines. In September 2016, Enel Distribución Perú was served with tax assessments and fines. In October 2016, Enel Distribución Perú filed a claim against the taxes and fines. In June 2017, Enel Distribución Perú received SUNAT’s decision which maintained the objections raised. In July 2017, Enel Distribución Perú filed an appeal. In February 2020, Enel Distribución Perú was notified of the TF’s decision that confirmed the position of SUNAT, which would not permit the deduction of the excess of the standard energy loss. In June 2020, Enel Distribución Perú filed a Contentious Administrative Lawsuit against the TF resolution and was notified that the Contentious Administrative Lawsuit was accepted, and that SUNAT and the Tax Court had 10 business days to respond. In July 2020, the claim was deemed to have been answered. In August 2020, the proceedings were declared settled, the disputed points were resolved, and the evidence was admitted. In October 2020, the Court scheduled the oral report for June 18, 2021. For the year 2014: SUNAT also objected to the deduction of commercial energy losses in excess of the standard commercial energy loss. It should be noted that Enel Distribución Perú paid the income tax associated with this expense, with the presentation of the original annual affidavit, which amounted to ThPEN 3,582 (ThUS$ 990). ). In January 2020, Enel Distribución Perú filed a claim against the tax assessment. In March 2020, Enel Distribución Perú submitted evidence and its brief, attaching additional supporting documentation. In December 2020, Enel Distribución Perú was notified of the SUNAT resolution which, among others, reaffirmed the objection related to the excess of the standard commercial energy loss. Forthcoming legal actions: For the year 2006: Enel Distribución Perú is waiting for the PJ’s Supreme Court to analyze the cassation appeals presented. For the year 2007: Enel Distribución Perú is waiting for the TF to issue a resolution. For the year 2008: Enel Distribución Perú is waiting for the case to be declared ready to proceed, the controversial points to be defined and the evidence to be admitted. For the year 2009: Enel Distribución Perú is waiting for oral report. For the year 2010: Enel Distribución Perú is waiting for the case to be declared ready to proceed, the controversial points to be defined and the evidence to be admitted. For the year 2011: Enel Distribución Perú is waiting for the oral report. For the year 2014: Enel Distribución Perú will file an appeal against SUNAT’s resolution. The total amount involved in these lawsuits is estimated at PEN 83,360 million (ThUS$ 23,041). 360360 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information 10. In 1997, Enel Generación Perú, Perené and Simsa entered into a joint venture agreement for the development of the Chimay and Yanango power plants, agreeing to a payment of US$13 million for Enel Generación Perú. In 1998, Enel Generación Perú signed a contract with its parent company, Generandes (now Enel Perú, after the merger with Generandes), for Enel Perú to provide supervision services for the construction of the power plants, agreeing to a payment of US$13 million for Enel Perú. In turn, Enel Perú entered into contracts with its shareholders, Entergy Perú and Conosur, transferring its commitments with Enel Generación Perú and agreeing to a payment of US$3 million for each party. SUNAT challenged this transaction the following reasons: (i) in the case of Enel Generación Perú, for using the VAT as a tax credit that was surcharged by Enel Perú, and (ii) in the case of Enel Perú, for treating the expense as deductible from the company’s income tax and for using the VAT as a tax credit that was surcharged by its shareholders. SUNAT’s position is that the transactions are not valid because Enel Perú and its shareholders are holding companies that have no personnel to provide such services. The supervision services were provided directly by Enel Generación Perú through its own personnel. The TF has supported SUNAT’s position in resolutions Nos. 15281-8-2014 and 11180-5-2017 issued for the Enel Generación Perú and Enel Perú cases, respectively. Taking this into consideration, Enel Perú expects that the PJ will issue a new decision, indicating that there are no costs and no revenues. According to this expected new determination, there would be a payment due in excess of Enel Perú’s income tax paid, and this excess would be offset with VAT, eliminating the contingency for this case. The proceedings have progressed as follows: After an adverse decision in the administrative process, Enel Perú paid SUNAT the tax owed of ThPEN 87,055 (ThUS$ 24,063) and filed a lawsuit against SUNAT and the TF. In September 2019, Enel Perú was notified of the ruling that declared the claim unfounded, except in a petition. In that same month, Enel Peru filed an appeal against the aforementioned ruling. In August 2020, Enel Perú was notified of the judgment of the appeals court that declared the judgment of the court void and ordered it to issue a new ruling. The total amount involved for this lawsuit is ThPEN 87,055 (ThUS$ 24,063), which has been duly paid. The judicial file is pending again in the court for it to issue a new ruling. 11. On July 5, 2016, Electroperú filed a request for arbitration against Enel Generación Perú due to disagreements regarding the interpretation of certain technical aspects (committed power, start date of the contract’s second stage, determination of the Base Gas Price) of an electric power supply contract entered into in 2003. The total amount of this arbitration is estimated at approximately PEN136.66 million (US$41.2 million). At the same time, the dispute stems from claims by Enel Generación Perú against Electroperú for approximately US$18.5 million. Electroperú filed its claim on June 4, 2017 and Enel Generación Perú filed its answer to the claim and its counterclaim on August 4, 2017. On August 10, 2017, the arbitral panel notified Enel Generación Perú of the settlement of the arbitration expenses. On September 18, 2017, Electroperú filed its counter-argument to the answer to the claim and counterclaim that had been filed by Enel Generación Perú. On October 3, 2017, Electroperú filed its response to the counterclaim that had been filed by Enel Generación Perú. On November 2, 2017, Enel Generación Perú filed its answer to the response that had been filed by Electroperú. On November 17, 2017, Enel Generación Perú acknowledged proper service of the response to the counterclaim filed by Electroperú. On January 2, 2018, Enel Generación Perú filed its counter-response to the arguments made by Electroperú. Arbitration hearings were held on July 23, 24 and 25, 2018. On August 24, 2018, the parties filed their closing arguments. On August 20, 2019, the final arbitration award was rendered in which the majority of the arbitral panel decided: (i) in the first claim of Electroperú, Enel Generación Perú was ordered to pay Electroperú ThUS$41,289, plus interest; (ii) in the second claim of Electroperú, Enel Generación Perú was ordered to pay Electroperú PEN49,229, plus interest; (iii) Enel Generación Perú’s counterclaim was deemed unfounded; and (iv) Enel Generación Perú must fully assume the costs of the arbitration proceeding and must reimburse Electroperú the amount of ThUS$589. On September 11, 2019, Enel Generación Perú submitted an appeal to the arbitral panel requesting (i) the exclusion of the arbitral award for Electroperú’s claims not contained in Electroperú’s arbitration demand and (ii) an interpretation of the arbitral award to remedy errors in motivation and assessment of the evidence. On October 9, 2019, the arbitral panel issued its decision on the appeal, rejecting it in its entirety. On November 6, 2019, Enel Generación Perú filed an appeal for annulment of the arbitration award before the Courts. On September 22, 2020, Enel Generación Perú was notified of the judicial resolution admitting for processing the aforementioned appeal for annulment. As of December 31, 2020, the decision by the Judiciary regarding Enel Generación 361 Annual Report Enel Américas 2020 Perú’s request for suspending the effects of the arbitration award is pending issuance. Likewise, Electroperú has not yet answered the claim for annulment of the arbitration award. Additionally, on September 1, 2020, Enel Generación Perú was notified of a judicial resolution that (i) admits for processing a demand for enforcement of the referred arbitration award filed by Electroperú and (ii) orders Enel Generación Perú to comply with the payment obligation contained in the award. On September 7, 2020, Enel Generación Perú submitted a written opposition to the aforementioned resolution to enforce the arbitration award.. As of December 31, 2020, the Judiciary has not yet formally notified Electroperú of the writ of opposition filed by Enel Generación Perú on September 7, 2020. Brazil: Enel Distribución Ceará (Companhia Energética do Ceará S.A. or “Coelce”) 12. The Public Prosecutor’s Office has filed a public civil action against Enel Distribución Ceará, Enel Generación Fortaleza and ANEEL (the Brazilian Electricity Regulatory Agency) alleging that a) the electric power purchase agreement (PPA) signed between Enel Distribución Ceará and Enel Generación Fortaleza (companies of the same economic group) was illegal, the price of the contracted energy being very high, with excessive costs in the final consumers’ tariff and b) the tariff review conducted by ANEEL since 2002 was wrong, since it took into consideration inaccurate data in the process. It is seeking the exclusion of these components from the tariff and the return of the sums unduly collected by the concessionaire. The PPA’s legality was confirmed at the judicial courts of first and second instances, but the tariff review process (item b) was held to be erroneous at these rulings. On December 8, 2020, a special appeal filed by Enel Distribución Ceará was summarily dismissed. Enel Distribución Ceará filed motions for clarification of the decision, and to date they remain unresolved. The amount involved in this lawsuit cannot be estimated. 13. In 2001, the Public Prosecutor’s Office for Labor Matters filed a public civil action against Enel Distribución Ceará alleging that the company was hiring third parties for the provision of final services (“outsourcing”), which was contrary to Brazilian law (Ruling 331 of the Brazilian Superior Labor Court), which allegedly only allows the provision of non-essential services by third parties. The Superior Labor Court issued a ruling declaring the outsourcing illegal. An appeal filed by Enel Distribución Ceará is currently pending trial by the Collective Bargaining Section (the reviewing section of the Superior Labor Court). Enel Distribución Ceará submitted a complaint to the Federal Supreme Court due to procedural irregularities (under the plenary reservation clause of the Federal Constitution), which was accepted by the court as a precautionary measure. The Federal Supreme Court ordered suspension of the ruling that prohibited the outsourcing of activities by Enel Distribución Ceará. The injunction is valid until the final resolution of the claim. The amount involved in this lawsuit cannot be estimated. 14. Several rural electricity cooperatives have filed lawsuits to review the lease fee for the energy supply network in the rural area of the State of Ceará allegedly owned by them. Although Enel Distribución Ceará regularly pays the network lease fee to 13 rural electricity companies, a discussion on the ownership of these assets is pending decision, since they allegedly have already been directly replaced by Enel Distribución Ceará throughout the more than 30 years of these lease contracts. • Cooperativa de Eletrificação Rural do Vale do Acaraú (COPERVA) versus Companhia Energética do Ceará (Coelce): There is no preliminary injunction and there is still no first instance decision from the Ceará state court. • Cooperativa de Eletrificação Rural do Vale do Acaraú (COPERVA) versus Companhia Energética do Ceará (Coelce): The Court of Justice (court of second instance) ruled in favor of Enel Distribución Ceará, rejecting the request for lease review, and a special appeal was filed by COPERVA and is currently pending before the Superior Court of Justice (court of third instance). On November 5, 2018, the Superior Court of Justice rendered a single-judge decision on a special appeal filed by COPERVA and vacated the ruling on the clarification attachments requested. In summary, the ruling judge held that the decision by the Court of Justice failed to provide satisfactory clarification on the facts claimed in COPERVA’s clarification attachment petitions and declared a retrial to hear this appeal. Enel Distribución Ceará filed an appeal against this decision on December 3, 2018 with the Superior Court of Justice in order that an en-banc decision be rendered (since the ruling had been issued by a single judge), which is pending a decision. As of December 31, 2020, the amount involved in the two lawsuits was BRL 312.2 million (ThUS$60,110). 362362 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information• Cooperativa de Energia, Telefonia e Desenvolvimento Rural (COERCE) versus Companhia Energética do Ceará (Coelce): There is no preliminary injunction and there is still no first instance decision from the Ceará state court. As of December 31, 2020, the amount involved in this lawsuit was BRL187.3 million (ThUS$36,058). • Cooperativa de Energia, Telefonia e Desenvolvimento Rural (COPERCA): versus Companhia Energética do Ceará (Coelce): On June 13, 2019, the judge in the Ceará state court issued a decision ordering the transfer of the claim to the Federal Courts, considering ANEEL’s interest in the claim, which transfer occurred on November 28, 2019. As of December 31, 2020, the amount involved in this lawsuit was BRL162.7 million (ThUS$31,321). 15. Fiação Nordeste do Brasil S/A (FINOBRASA), which has now been succeeded by Vicunha, filed a lawsuit against Enel Distribución Ceará claiming that the adjustment of electricity tariffs made through Decrees Nos. 38 and 45 (DNAEE) in February 1986 are illegal. It is seeking the declaration of illegality of the adjustments and an order that its effects be reflected in all subsequent adjustments and the return of amounts inappropriately collected. The Court of Justice (court of second instance) rendered a decision declaring the adjustment made in 1986 illegal, but it has rejected its reflection in the subsequent adjustments (cascade effect). A special appeal filed by FINOBRASA is currently pending before the Superior Court of Justice (court of third instance). As of December 31, 2020, the amount involved in the lawsuit was BRL 116.2 million (ThUS$22,363). 16. Enel Distribución Ceará must apply the “pro rata” rule to calculate the amount of the tax on movement of goods and services (“ICMS”) deductible with respect to the total ICMS included in energy purchases. The rule stipulates that the percentage represented by the income taxed by ICMS over the total income (whether or not subject to ICMS) is deductible. For the purposes of its inclusion in the pro rata denominator, Enel Distribución Ceará’s position is that the untaxed income is the result of applying the energy’s final selling price (the price after deducting the State of Ceará subsidy for low-income consumers) and the Brazilian Tax Authority maintains that the untaxed income is the price of the normal tariff (without deducting the State of Ceará subsidy for low-income consumers). Due to the differences that arose in the interpretation of these laws, Enel Distribución Ceará has a total of 10 lawsuits covering the years 2005 to 2014. The company continues its defense in the administrative and judicial proceedings. As of December 31, 2019, the total amount involved in these lawsuits was estimated at BRL 246 million (ThUS$47,360). 17. The State of Ceará issued assessments to Enel Distribución Ceará for the periods 2003, and from 2004 to 2014, since it considered that the ICMS for the acquisition of property, plant and equipment had been incorrectly deducted. Enel Distribución Ceará has filed its administrative defenses in all administrative and judicial proceedings and is awaiting final decisions. As of December 31, 2020, the total amount involved in this lawsuit was estimated at BRL 207 million (ThUS$39,852). Enel Distribución Goiás S.A. (formerly CELG Distribuição S.A.) 18. Several municipalities have filed lawsuits against Enel Distribución Goiás claiming that an agreement made with the State of Goiás and the Goiana Association of Municipalities (AGM) which provides for the direct transfer to Enel Distribución Goiás of ICMS amounts owed to the municipalities by the State of Goiás is illegal. The amounts transferred were used to pay late electric bills. Enel Distribución Goiás responded that despite the potential illegality of the agreement, the amounts were effectively due and it would not be possible to return them to the municipalities. The Court of Justice of Goiás is divided and there is still no decision, which will only be rendered by the Superior Court of Justice (the court of third instance). - Municipality of Aparecida de Goiânia versus CELG Distribuição S.A. As of December 31, 2020, the amount involved in the claim was ThBRL 628.7 (ThUS$ 121.03). - Municipality of Quirinópolis versus CELG Distribuição S.A. As of December 31, 2020, the amount involved in the claim was ThBRL 336.1 (ThUS$ 64.70). - Municipality of Anápolis versus CELG Distribuição S.A. As of December 31, 2020, the amount involved in the claim was ThBRL 322.7 (ThUS$62.12). 363 Annual Report Enel Américas 2020- Municipality of Bela Vista de Goiás versus CELG Distribuição S.A. As of December 31, 2020, the amount involved in the claim was ThBRL 106 (ThUS$ 20.41). - Municipality of Caiapônia versus CELG Distribuição S.A. As of December 31, 2020, the amount involved in the claim was BRL 112.2 million (ThUS$ 21.62). - Municipality of Cezarina versus CELG Distribuição S.A. As of December 31, 2020, the amount involved in the claim was ThBRL 141 (ThUS$ 27.15). 19. Enel Brasil S.A. and Enel Distribución Goiás have filed a security order against the tax authority of the State of Goiás so that the process for restitution of the amounts paid by Enel Distribución Goiás in relation to the claims guaranteed by Laws No. 17,555 (reimbursement for FUNAC) and 19,473 (reimbursement for ICMS – IVA Tax Credits) continues normally. The judge previously rejected a request for an injunction. Enel Brasil and Enel Distribución Goiás have filed an appeal against the decision, which was accepted by the Court of Justice of the State of Goiás, suspending the application of the new law and upholding the validity of Laws No. 17,555 (FUNAC) and 19,473 (Tax Credits). The injunction was subsequently revoked by the Court, as the Court did not recognize the urgency that justified an injunctive measure. Enel Brasil S.A. and Enel Distribución Goiás have filed an appeal against the decision, arguing that the right to the guaranty is legal and contractual, and the actions of the State of Goiás with the goal of suspending the integral application of the laws are clearly illegal. There is no first instance decision. The amount involved in the lawsuit is indeterminate. 20. Enel Brasil S.A and Enel Distribución Goiás have filed an ordinary action against the State of Goiás requesting that Law No. 20,468 and all its effects be suspended. In summary, Law No. 20,468 has completely revoked Law No. 19,473 (Tax Credits), which grants Enel Distribución Goiás, as an alternative to cash payment, the right to offset payments made by the company for litigation whose events arose before 2015 by means of ICMS (IVA) tax credits. The judge rejected the injunction request. Enel Brasil S.A. and Enel Distribución Goiás have filed an appeal against the decision, arguing that the repeal of Law No. 19,473 (Tax Credits) is unconstitutional, since the tax incentive provided in the Law was established in full conformity with applicable legislation and was characterized as an acquired right, which is inviolable in accordance with Article XXXVI of the Brazilian Constitution. In addition to characterizing the acquired right, article 178 of the Brazilian Tax Code establishes the impossibility of revocation of a tax incentive granted by certain conditions, an understanding confirmed by repeated statements of the Federal Supreme Court (Súmula STF 544). There has not been a decision in the first instance. The amount involved in the lawsuit is indeterminate. 21. A union representing 513 employees of CELG (now Enel Distribución Goiás) filed a lawsuit for recognition of work (other than work contracted for) by electricians. In the lawsuit, the union affirmed that the electricians were carrying out the work of qualified professional electricians. The judge ruled against CELG and CELG has filed an appeal against that decision. The Regional Labor Court issued a decision, rejecting CELG’s appeal. CELG appealed to the Superior Labor Court, which also rejected the appeal. The judgment is in the enforcement stage, with a large divergence in the amounts discussed. Enel has paid BRL 37.6 million (ThUS$ 7,246). As of December 31, 2020, the estimated amount involved in the lawsuit was BRL 329.6 million (ThUS$65,079). The amount of the ultimate payment obligation is still uncertain given the divergence in the discussed calculations. 22. The Public Prosecutor’s Office for Labor Matters filed a public civil action against Enel Distribución Goiás alleging that the company was hiring third parties for the provision of final services (“outsourcing”), contrary to Brazilian law (Ruling 331 of the Brazilian Superior Labor Court). In the court of first instance, the labor judge declared the sub-contracting legal. The Regional Labor Court, accepted the appeal filed by the Public Prosecutor’s Office for Labor Matters, reversed the decision of the labor judge in the court of first instance and has declared the sub-contracting illegal. Enel Distribución Goiás filed an appeal to the Brazilian Superior Labor Court, which upheld the Regional Labor Court decision. The decision was suspended by the Federal Supreme Court until judgment of the constitutional complaint discussing the matter in the Federal Supreme Court. The amount involved in the lawsuit is indeterminate. 364364 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information 23. A union representing 1,715 employees filed a lawsuit against Enel Distribución Goiás questioning the legal nature of "food aid". The legal issue is the inclusion of this benefit in the compensation of the employees who received it before the company's adhesion to the PAT (Food Program for Workers) in 2008. A judgment was issued ordering the Company to pay the difference (integration of food aid to compensation of employees prior to May 7, 2008). Enel Distribución Goiás's appeal was rejected by the Regional Labor Court of the 18th Region (Goiás). Enel Distribución Goiás has appealed to the Superior Labor Court, which was preliminarily rejected. Enel Distribución Goiás has filed clarification request against the decision, which is awaiting a resolution. As of December 31, 2020, the estimated amount involved in the lawsuit was BRL 216.9 million (ThUS$41,769). 24. Enel Distribución Goiás was audited by the Brazilian Tax Authority due to its position on the exclusion of ICMS amounts from the Social Contributions base (PIS/COFINS). The company excluded the ICMS before a final decision was made, and consequently the Brazilian Tax Authority issued four assessments against Enel Distribución Goiás, arguing that exclusion was not permitted. In an unrelated case with precedential value, the decision by the Superior Court acknowledged that ICMS should not be part of the PIS and COFINS tax base. A judgment on an appeal to this decision filed by the Brazilian Tax Authority is still pending. In the specific case of Enel Distribución Goiás, the final decision by the court on the right of Enel Distribución Goiás not to include the ICMS in the Social Contributions base is pending. The company obtained a firm and definitive decision in annulment action for the cancellation of two records collected in fiscal execution. Because of that the Brazilian Tax Authority canceled a large part of the assessment, which was reduced from BRL 398,447 to BRL 12,799. The court of first judicial instance issued a ruling favorable to the company on the remaining value and a judgment is awaited from the court of second judicial instance. The other assessments remain suspended. The total amount involved in this lawsuit (including the reduction) was BRL 237 million (ThUS$ 45,628). 25. In March 2017, the Federal Supreme Court of Brazil resolved a matter of general applicability, related to the calculation of PIS and COFINS taxes. The Federal Supreme Court confirmed the theory that the ICMS tax should not be part of the base for calculation of PIS and COFINS taxes; however, the Brazilian federal government filed an appeal, in order to determine the temporary effects and make some clarifications. Enel Brasil’s subsidiaries in Brazil that were affected by the Federal Supreme Court decision filed legal actions to this effect in the respective Federal Regional Courts. During 2019, Enel Distribución Sao Paulo and Enel Distribución Ceará were notified of the final judgments issued by their respective Federal Regional Courts, recognizing their right to deduct the ICMS applied to their own operations from the base for calculation of PIS and COFINS taxes (for the periods between December 2003 and onwards for Enel Distribución Sao Paulo and May 2001 onwards for Enel Distribución Ceará). Considering various internal analyses and the advice of legal advisors, as well as the best available estimates, Enel Distribución Sao Paulo and Enel Distribución Ceará recognized assets amounting to BRL 6,889,081,808 (ThUS$1,326,297) and BRL 1,309,965,386 (ThUS$252,197), respectively, as of December 31, 2020. As the overpayment of PIS and COFINS taxes was passed on to end customers at the time, simultaneously with the recognition of these taxes to be recovered, Enel Brasil’s subsidiaries have recognized a liability of a regulatory nature for the same amounts indicated above, net of any costs incurred or to be incurred by the companies in these legal proceedings. These liabilities represent the obligation to refund to the end customers the taxes that are recovered. The Enel Américas Group will adopt tax credit recovery procedures in accordance with legal requirements. The transfer to end customers will depend on the effective use of the tax credit by the companies and will be carried out in accordance with the regulations of the Brazilian Electricity Regulatory Agency (ANEEL). The legal actions filed by Enel Distribución Sao Paulo’s subsidiaries, Enel Distribución Rio and Enel Distribución Goias, are pending resolution and awaiting the final judgment of the respective Regional Courts. It should be noted that the "Programa de Integração Social" (Program of Social Integration or “PIS”) and the "Contribuição para o Financiamento da Seguridade Social" (Contribution for the Financing of Social Security or “COFINS”) are federal contributions paid by companies in Brazil intended to finance employee programs, public health, social assistance and social security, levied on the companies' gross income. The "imposto sobre circulação de mercadorias e serviços" (ICMS), is a State value-added tax (VAT) in Brazil, levied on the sale of telecommunications and transportation goods and services. 365 Annual Report Enel Américas 2020 Enel Distribución Río (formerly Ampla Energia e Serviços S.A.) 26. Companhia Brasileira de Antibióticos (CIBRAN) has filed several lawsuits against Enel Distribución Río seeking compensation for energy supply failures in the years 1987 to 1994 and 1995 to 1999. • CIBRAN versus Ampla Energia e Serviços S.A. (1995-1999). The Court of Justice of the State of Río de Janeiro (the court of second instance) ruled in Enel Distribución Río’s favor, dismissing the claim for compensation. On June 19, 2020, a decision was issued that rejected the "agravo" (grievance) in the special appeal filed by CIBRAN, against which CIBRAN has filed a new appeal. All CIBRAN's appeals were rejected and the decision in favor of Enel has become final. This lawsuit will be excluded from the report. • CIBRAN versus Ampla Energia e Serviços S.A. (1987-1994). The court of first instance ruled against Enel Distribución Río, which Enel Distribución Río appealed. On November 6, 2019, the Court of Justice of the State of Río de Janeiro issued a ruling upholding Enel Distribución Río’s appeal and rejecting all CIBRAN’s requests. CIBRAN opposed the ruling and a petition for clarification of the decision is currently pending. As of December 31, 2020, the amount involved in this lawsuit was BRL 553 million (ThUS$106,460). 27. Indústria de Papel e Embalagens S.A. (CIBRAPEL) filed a lawsuit against Enel Distribución Río seeking compensation due to energy supply failures. A final decision was rendered against Enel Distribución Río. The expert opinion fixed the compensation at BRL21.5 million, but the amount has been challenged by Enel Distribución Río, and the appeal is pending resolution. As of December 31, 2020, the amount involved in the lawsuit was BRL 234 million (ThUS$ 45,062). 28. The Niterói Workers Union filed a labor claim against Enel Distribución Río demanding the payment of a 26.05% wage differential from February 1989, by virtue of the Economic Plan instituted by Decree Law No. 2,335/87. Enel Distribución Río lost all of the preceding court instances, and an extraordinary appeal filed by Enel Distribución Río is currently pending before the Federal Supreme Court. In parallel, 796 former employees filed 432 lawsuits for enforcement of the judgment against Enel. On December 31, 2020, the amount involved in the lawsuit was BRL 118 million (ThUS$22,711). 29. The Brazilian Tax Authority served a notice of infringement in 2003 against Enel Distribución Río to collect alleged COFINS tax deficiencies for the period from December 2001 until March 2002. After adverse rulings in the courts of first and second instance, Enel Distribución Río filed an extraordinary appeal with the Federal Supreme Court and received an unfavorable decision. Enel Distribución Río submitted a new appeal to the Federal Supreme Court. The appeal was decided against the company. Furthermore, in the view of the Court's judges, the appeal filed was intended to cause a delay in the end of the litigation and, therefore, they applied a penalty of 5% on the value of the tax deficiency. The company filed an appeal to void the fine applied and is awaiting a ruling. The debt and fine amount to BRL 171.1 million (ThUS$32,941) and BRL 8.6 million (ThUS$1,656), respectively. 30. In 2005, the Brazilian Tax Authority notified Enel Distribución Río on the non-applicability of the special tax treatment that had reduced to zero the withholding tax rate on interest paid abroad on the Fixed Rate Notes (FRN) issued by the company in 1998. Enel Distribución Río is still litigating this issue in the judicial court of the first instance. As of December 31, 2020, the total amount of this dispute is estimated at BRL 1,314 million (ThUS$ 252,973). 31. The State of Río de Janeiro levied a tax assessment against Enel Distribución Río for the periods from 1996 to 1999 and from 2007 to 2017, since it believed that the ICMS recorded on the acquisition of property, plant and equipment had been incorrectly deducted. Enel Distribución Río filed its administrative and judicial defenses in all proceedings, and the company awaits final decisions for the judicial proceeding. The total amount of this litigation is estimated at BRL 131 million (ThUS$ 25,221). Enel Distribución Sao Paulo (formerly known as Eletropaulo) 32. Eletropaulo filed an action seeking the annulment of ANEEL’s administrative decision No. 48500-006159/2012-75, which determined the retroactive exclusion of the tariffs applied by Eletropaulo before the date of its third periodic review, with the refund of sums associated with a possibly non-existent network and rejected a subsidiary request (made by Eletropaulo) for inclusion of other existing service assets (network), but not recorded in the company’s remuneration base. 366366 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationThere is no first instance decision and the lawsuit is in its initial phase. As of December 31, 2020, the amount involved in the lawsuit was BRL 1,093.5 million (ThUS$210,531). 33. The São Paulo electric power industry workers’ union filed 5 class-actions seeking the payment of hazard allowance for all employees (except management positions) of Eletropaulo located in the Barueri office until the decommissioning of the generating unit that was in the attic (below the heliport), during the period from February 2012 to February 2016, the time of the decommissioning of the generator unit and its installation outside the building. On July 11, 2019, a decision favorable to Eletropaulo was issued. The union filed an appeal with the court, which was dismissed on August 13, 2020. As of December 31, 2020, the amount involved in the lawsuit was BRL 129.7 million (ThUS$24.971). 34. The Federal Public Prosecutor’s Office (MPF) has filed a public civil action against Eletropaulo and ANEEL seeking to block the inclusion in consumers’ tariffs of amounts contracted with affiliated parties (AES Tietê, at that time) and the reimbursement of double the amounts already collected. The court ruled in Eletropaulo’s favor, rejecting the actions, but the Federal Regional Court (TRF) admitted the MPF’s appeal and overturned the decision. An Eletropaulo appeal against the TRF’s decision is currently pending in the Superior Court of Justice. The amount involved in the claim is undetermined. 35. The Public Prosecutor’s Office for Labor Matters filed a public civil action against Eletropaulo alleging that the company was hiring third parties for the provision of final services (“outsourcing”), which is contrary to Brazilian law (Ruling 331 of the Brazilian Superior Labor Court), which allegedly only allows the provision of non-essential services by third parties. On April 5, 2019, the judge issued a judgment in which he rejected (i) the request for a declaration of the existence of outsourcing fraud and (ii) a link between the employees of the suppliers with Eletropaulo, nevertheless, the judgment has ordered Eletropaulo to pay compensation for collective punitive damages in an amount of BRL 5 million (ThUS$963), and to align remuneration between Eletropaulo’s own employees and the suppliers’ employees, with a fine of BRL1 million for non-compliance. Eletropaulo will appeal the judgment. The amount involved in the claim is undetermined. 36. Enel Distribución Sao Paulo filed a complaint requesting a declaration that the amounts of COFINS paid by the company were paid in accordance with the rules of the Amnesty Program of the Brazilian Federal Government (reduction of fines and interest) created in 1999. The complaint was filed by the company in September 1999. Following the decision in the court of second instance that decided partly in its favor regarding the principal amount, interest and fine, in April 2018, the company filed appeals with the Superior Court of Justice and the Federal Supreme Court which are currently pending. Of the total amount of BRL 811 million involved (ThUS$156,269), BRL 162 (ThUS$31,253) million comprise the attorneys’ fees (20%) paid by the Federal Tax Authority. The balance of BRL 649 million is related to the capital (tax) paid with amnesty benefits and the possibility of loss with respect to this portion is remote. As of December 31, 2020, the amount of possible loss involved in the litigation is BRL 162 million (ThUS$31,253). 37. In May 2008, the Brazilian Tax Authority filed a lawsuit against Eletropaulo seeking payment of the PIS (Social Integration Program) tax, corresponding to the rate increase for the period from March 1996 to December 1998. After unfavorable rulings in the courts of first and second instances, Eletropaulo filed appeals with the Superior Court of Justice and the Federal Supreme Court. The amounts subject to dispute have been covered by a bank guarantee. In this regard, while awaiting the outcome of this proceeding, the Attorney General of the Department of the National Treasury of Brazil requested the replacement of the bank guarantee letter with a legal deposit. This request was rejected and the Attorney General’s Office appealed this decision. In June 2019, the court of second instance confirmed the Attorney General’s appeal. In view of the decision, the company made a legal deposit in the amount involved and, in opposition to the decision, filed a petition for clarification of the decision which is currently pending. As of December 31, 2020, the amount in dispute is BRL 243 million (ThUS$ 46,912). 38. In accordance with a final decision issued after a trial, Eletropaulo was granted the right to offset claims for FINSOCIAL (the social contribution system established in March 1992 before COFINS) related to amounts paid from September 1989 to March 1992. However, due to differences in the calculation of the credits stipulated by the Brazilian Federal Tax Authority, part of the offsets requested by the company were not accepted and were determined to be due by the Tax Authority. Following a decision unfavorable to the company in the court of first instance, the company appealed this decision and this appeal is pending before the administrative court of second instance. As of December 31, 2020, the amount in dispute is BRL 226 million (ThUS$ 43,591). 367 Annual Report Enel Américas 202039. The Brazilian Federal Tax Authority issued a tax assessment to Eletropaulo, based on the alleged non-payment of Personal Income Tax (IRPJ) and Social Contribution on Net Profit (CSLL) for the 2001 and 2002 fiscal years, because the company allegedly deducted integrated amounts paid to its pension fund from both the IRPJ and the CSLL, when the specific regulation establishes a 20% limit for such deductions. After the unfavorable final ruling in the administrative proceeding in October 2017, the dispute was submitted to the Courts of Law. In June 2019, a ruling favorable to Eletropaulo was issued in the court of first instance for re-adjudication of the company’s appeal in the Administrative Court. The Attorney General’s Office appealed this decision. As of December 31, 2020, the amount in dispute is BRL 173 million (ThUS$ 33,366). 40. The Tax Authority issued a tax assessment to Eletropaulo which rejected the offset related to the credits of the PIS originated by legislative changes introduced by Decrees 2,445 and 2,449/1988, which were declared unconstitutional by the Federal Supreme Court, that were offset against other federal taxes due in April and May 2013. The company filed its defense in September 2014. In January 2019, following a partially favorable ruling in the court of first instance, the company filed an appeal, which is pending before the Administrative Court of the second administrative instance. As of December 31, 2020, the amount in dispute is BRL 159 million (ThUS$ 30,682). 41. Eletropaulo filed a lawsuit seeking recognition of the right to offset the total tax credits resulting from Eletropaulo’s division against the Social Contribution on Net Profit (CSLL). Favorable rulings were issued in the courts of first and second instance. In May 2017, the Tax Authority filed an interlocutory appeal with the Superior Court of Justice, which is pending. As of December 31, 2020, the amount in dispute is BRL 153 million (ThUS$ 29,570). 42. In July 2000, Eletropaulo filed a lawsuit seeking the recognition of credits arising from improper payments of PIS made pursuant to Decrees 2,445 and 2,449/1988, which were declared unconstitutional by the Federal Supreme Court. In May 2012, a final decision was issued in favor of the company recognizing the right to the credits. However, tax assessments were made on Eletropaulo by the Federal Tax Authority because the offsets were rejected due to the fact that they had been made before the legal action had ended, using federal tax debits in addition to PIS. The company claims that the offsets were made on the basis of the favorable court ruling and that the adopted procedure was correct. After unfavorable decisions were rendered in the court of first instance, the company filed appeals with the court of second instance. As of December 31, 2020, the amount in dispute BRL 659 million (ThUS$ 126,980). 43. Eletropaulo filed a complaint against the tax assessment issued by the Tax Authority of the Municipality of São Paulo, seeking payment of the Public Lighting Contribution (COSIP) related to the period from March 2011 to December 2015. These tax assessments are based on the alleged irregularities attributed to the company: (i) incorrect classification of customers, (ii) illegally applied tax exemption, and (iii) non-payment of the penalty for non-payment of contributions past due. In July 2018, the court of first instance rendered a decision partially favorable to the company that limited the interest charged by the Tax Authority to the Brazilian preferential rate (“SELIC”). Both parties filed appeals against this decision. In July 2019, a decision partially favorable to the company was issued, affirming the court of first instance’s decision. Given the Court of São Paulo’s recognition of the need for presentation of evidence, the company understood it was more appropriate to withdraw from the dispute in this litigation (which by its nature does not allow the procedural phase of evidence) and to file a new legal action. As of December 31, 2020, the amount in dispute is BRL 145 million (ThUS$ 27,918). 44. The Tax Authority of the State of São Paulo issued five tax assessments seeking payment of ICMS due to allegedly invalid setoffs in which the company used assigned credits in the acquisition of property, plant and equipment, and which the Tax Authority believed was not appropriate. In 2019, the Tax Authority of the State of São Paulo issued a new assessment. The company filed its administrative defenses in all the administrative procedures and is awaiting the final decisions. The company’s administrative defenses were presented to the court of first administrative instance, which are awaiting judgment. As of December 31, 2020, the amount in dispute is BRL 137 million (ThUS$ 26,563). 45. Eletropaulo filed a complaint against Federal Decree No. 8,426/2015, which reinstated the PIS/PASEP and COFINS taxes on financial income earned by companies subject to the non-cumulative PIS/PASEP and COFINS regime, at a rate of 4.65%, as of July 1, 2015. The status of the litigation is that unfavorable decisions were rendered in the court of first instance (November 2015) and at the court of second judicial instance (August 2017). In December 2017, the company 368368 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Informationfiled appeals with the Superior Court of Justice and the Federal Supreme Court, with the rulings currently pending. As of December 31, 2020, the amount in dispute is BRL 145 million (ThUS$ 27,956). 46. Eletropaulo filed a complaint claiming the right not to consider in its bases of calculation of Legal Entity Income Tax (IRPJ) and Social Contribution on Net Profit (CSLL), the amounts related to interest derived from the delay in fulfilling contractual obligations on the part of third parties that maintain contractual relations of any type with the company (interest as an advance valuation of damages). In March 2012, the court of first instance issued a decision favorable to Eletropaulo. The Federal Tax Authority appealed this decision and the appeal is awaiting decision. Since the decision of the court of first instance was rendered, the company has not paid the disputed taxes to the federal government. As of December 31, 2020, the amount in dispute is BRL 71 million (ThUS$ 13,732). 47. Eletropaulo filed lawsuits against several tax assessments issued by the Tax Authority of the State of São Paulo claiming the payment of ICMS due to alleged irregularities in the debt reversal transactions. The company is presently challenging five tax assessments, for which final decisions are pending. As of December 31, 2020, the amount in dispute is BRL 188 million (ThUS$ 36,371). 48. The Brazilian Federal Tax Authority issued tax assessments to Eletropaulo based on the alleged non-payment of PIS/PASEP and COFINS taxes for the period from 2013 to 2015, arising from the disallowance of credits assigned in the acquisition of goods and services. In 2020, Eletropaulo received two more infringement notices for not excluding credits related to the value of non-technical energy losses from August 2016 to December 2018. Eletropaulo has filed its defenses in the administrative proceedings and is awaiting the final decisions. As of December 31, 2020, the amount in dispute is BRL 236 million (ThUS$ 45,521). Enel CIEN S.A. 49. Enel CIEN is an Enel Américas Group transmission company in Brazil. Its network connects the electrical system of Brazil and Argentina. Enel CIEN has signed contracts with two Brazilian companies (Furnas and Tractebel Energia S.A.) for the purchase and sale of energy with firm power and associated energy from Argentina. In 2005, due to the energy and economic crisis in Argentina, it was no longer possible to fulfil the terms of the contract. The two companies have filed actions for declaration of contractual termination, imposition of contractual penalties and claims for compensation (not estimable to date). Furnas versus Enel CIEN S.A. The court of first instance issued a decision favorable the decision is now final. Tractebel Energia S.A. versus Enel CIEN S.A. There is no injunction and there is still no first instance decision. The case is currently in the generation of evidence stage (expert opinions). As of December 31, 2020, the amount involved in the lawsuit was BRL 512.1 million (ThUS$ 98,595). Enel Generación Fortaleza S.A. (formerly Central Geradora Termoelétrica Fortaleza S.A. or “CGTF”) 50. Petróleo Brasileiro S.A (Petrobrás) has notified Enel Generación Fortaleza of its intention to terminate the gas supply contract signed in 2003 (within the scope of the Brazilian government’s thermoelectric priority program) based on an alleged economic-financial imbalance. Enel Generación Fortaleza alleges that the contractual conditions of the gas supply are “guaranteed” by the Brazilian government and that the power generation by Enel Generación Fortaleza and other generation companies linked in this program guarantee the energy supply for the country. Since the beginning of this dispute, gas supply has been suspended at some points and later restored by a court order (the most recent ruling in effect since December 10, 2018). In addition, the issue of the forum for the dispute, either the court system or arbitration, had not yet been resolved. The lawsuit was still in its early stages and the generation of evidence had not started. On August 28, 2020, the parties signed an agreement to close the existing claims. The arbitration was formally closed on September 5, 2020 and the claims were formally closed in court in November 2020. 51. In February 2007, the Brazilian Tax Authority sent Enel Generación Fortaleza an assessment for PIS/COFINS taxes for the periods December 2003 and February 2004 to November 2004, regarding alleged differences between the amounts declared in the annual return (where PIS/COFINS amounts were reported under the non-cumulative regime) and the amounts declared in the monthly return (where the amounts due under the old cumulative regime were reported). After 369 Annual Report Enel Américas 2020 a ruling was rendered by the court of third administrative instance against Enel Generación Fortaleza, the company filed a plea for clarification, and the decision was unfavorable. In the judicial action for recovery, Enel Generación Fortaleza presented a guarantee and will submit its defense in the legally prescribed period. As of December 31, 2020, the total amount involved in this litigation is estimated at BRL 94 million (ThUS$18,186). Enel Brasil S.A. 52. In 2014, the Brazilian Tax Authority issued an assessment to Enel Brasil claiming violations in the collection of income tax on dividends allegedly distributed in an amount larger than owed in 2009 and 2010. After adverse rulings at the first and second administrative instances, the company appealed to the third administrative level (special body) and the decision was denied. Enel Brasil appealed to the judiciary and the interim decision was unfavorable. The company appealed to the court of second instance but the decision was also unfavorable. The company presented a guarantee in the collection lawsuit and it was accepted. Enel Brasil submitted its defense within the legal deadline. The total amount involved in this litigation is estimated at BRL 358 million (ThUS$ 68,840). In relation to the litigation proceedings described above, the Group has established provisions for ThUS$153,328 as of December 31, 2020 (see Note 25). There are other lawsuits that also have associated provisions but they are not described in this note since they individually represent smaller amounts. Management believes that the provisions recorded adequately cover the risks of litigation. Therefore, they do not expect additional liabilities to arise from other than those already registered. 35.4 Financial restrictions Several debt contracts of the Company, and of some of its subsidiaries include the obligation to comply with certain financial ratios, which is common in contracts of this nature. There are also affirmative and negative covenants that require monitoring of these commitments. In addition, there are restrictions in the sections of events of default that must be fulfilled to avoid acceleration of the debt. Cross default Certain financial debt contracts of the Company contain cross-default clauses. Under Enel Américas' bank loan agreement governed by the laws of the State of New York, executed in February 2018 and maturing in February 2021, the cross -default clause for non-payment could be triggered by another debt of Enel Américas on a stand-alone basis or of a ”Significant Subsidiary” (as defined contractually). In order for this loan to qualify for a possible acceleration under the cross-payment default provision the amount in default of other indebtedness, individually or in the aggregate must exceed US$150 million, or its equivalent in other currencies. Other conditions must also be satisfied, including the expiration of any applicable grace periods and a formal notice of the intention to accelerate the debt by creditors representing more than two thirds of the amount owed or committed. As of December 31, 2020, the amount owed in connection with this loan was ThUS$ 175,039. In the revolving credit contract of Enel Américas governed by the laws of the State of New York, executed in May 2020 and maturing in May 2021, the cross default for non-payment could be triggered by another debt of Enel Américas at an individual level. In order for the acceleration of the debt in this loan due to the cross-default originated in other debts to be required, the amount in default of the individual debt must exceed US$ 150 million or its equivalent in other currencies, and in addition other additional conditions must be fulfilled, including expiration of grace periods (if any exist in the contract that is not in compliance), and the formal notification of the intention to accelerate the debt by the creditors that represent more than 50% of the amount owed or committed. As of December 31, 2020, the amount owed on this loan totals ThUS$ 150,196. A substantial part of the bonds of Enel Américas registered with the Securities and Exchange Commission (“SEC”) of the United States of America, commonly called “Yankee Bonds”, incorporate cross default clauses in case of non-payment. For Yankee Bonds issued in 2016 maturing in October 2026, the cross -default could be triggered by another debt of Enel Américas at an individual level, or that of any “Significant Subsidiary” (as contractually defined), for any amount in default, as long as the principal of the debt that originates the cross -default exceeds US$ 150 million, or its equivalent in other currencies. As of December 31, 2020, the amount owed for this bond totals ThUS$ 591,653. 370370 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information In addition, in the Yankee Bonds issued in 1996, maturing in December 2026, the cross default can only be triggered by another debt of Enel Américas at an individual level, therefore, bankruptcy or insolvency events of subsidiaries abroad would not trigger the cross -default. For this, there needs to be an amount in default with principal of the debt that originates the cross -default, in excess of US$ 30 million, or its equivalent in other currencies. As of December 31, 2020, the amount owed for the concept of this Yankee Bond totals ThUS$ 863. In both cases, the debt acceleration due to cross -default does not occur automatically, as it must be required by the holders of at least 25% of the bonds of a certain series of Yankee Bonds. The Company’s bonds issued in Chile state that the cross-payment default provision can be triggered only by the default of the issuer, either on a stand-alone or on an aggregate basis, when the amount in default exceeds 3% of total consolidated assets. Debt acceleration requires the agreement of at least 50% of the bondholders of the specific series. As of December 31, 2020, the outstanding amount for the Chilean bonds was ThUS$ 10,714. Financial covenants Financial covenants are contractual commitments with respect to minimum or maximum financial ratios that the Company is obliged to meet at certain periods of time (quarterly, annually, etc.) and in some cases only when certain conditions are met. Most of the financial covenants of the Company limit leverage and track the ability to generate cash flow that will service the companies’ indebtedness. Certain companies are also required to periodically certify these covenants. The types of covenants and their respective limits vary according to the type of debt and contract. The Series B2 Chilean bonds of the Company include the following financial covenants, whose definitions and calculation formulas are set out in the respective contract: - Consolidated Equity: Minimum Equity of Ch$718,053 million must be maintained, a limit adjusted at the end of each year as established in the indenture. Equity is defined as the sum of Equity attributable to the shareholders of Enel Américas and non-controlling interests. As of December 31, 2020, the Company’s equity was Ch$7,346,717 million (at the closing exchange rate). - Debt to Equity Ratio: A debt to equity ratio, defined as Total liabilities to equity, shall not exceed 2.24. Total liabilities are the sum of Total current and non-current liabilities, while Equity is the sum of Equity attributable to the shareholders of Enel Américas and non-controlling interests. As of December 31, 2020, the debt to equity ratio was 1.61. - Unsecured Assets: The ratio of Unsecured assets to Unsecured total liabilities must be equal or higher than 1. Total Unsecured or free assets is the difference between Total assets and Total secured assets. Total unsecured or free assets consists of Total Assets less the sum of Cash, Bank balances, Current accounts receivable from related parties, Current payments in advance, Non-current accounts receivable from related entities, and Gross identifiable intangible assets, while Total secured assets correspond to assets pledged as collateral. On the other hand, Total unsecured liabilities consist of the sum of Total current liabilities and Total non-current liabilities, less liabilities secured by direct and indirect guarantees. As of December 31, 2020, this ratio was 1.22. On the other hand, the “Yankee Bonds” and any other debt of Enel Américas at an individual level, are not subject to compliance with financial covenants. As of December 31, 2020, the most restrictive financial covenant of Enel Américas was the Ratio of Assets, which is susceptible to be pledged as collaterals for the local Series B2 bond. In Peru, the debt of Enel Distribución Perú includes the following covenant: - Local bonds of the fourth program, whose balance pending payment as of December 31, 2020 amounted to ThUS$ 64,504 and whose final maturity is in January 2033, include the Indebtedness Ratio covenant, calculated as Total Liabilities less Deferred Liabilities and Cash over Equity. 371 Annual Report Enel Américas 2020On the other hand, the debt of Enel Generación Perú includes the following covenants: - Local bonds, whose balance pending payment as of December 31, 2020 amounted to ThUS$ 17,214 and whose final maturity is in January 2028, include the Indebtedness Ratio covenant, calculated as Financial Debt less Cash over Net Equity. In Brazil, the debt of Enel Distribución Río includes the following covenants: - Tenth issuance of local bonds, whose balance pending payment as of December 31, 2020 amounted to ThUS$ 193,471 and whose maturity is in March 2024, include Debt Payment Capacity covenants, calculated as Net Financial Debt over EBITDA. - Loans from Banco Nacional De Desenvolvimento (“BNDES”), whose balance pending payment as of December 31, 2020 amounted to ThUS$ 3,846 and final maturity is in May 2023, include the following covenants, in which their definitions vary according to the contract with BNDES: Debt Payment Capacity, calculated as Net Financial Debt over EBITDA and Net Financial Debt Ratio over the sum of Net Financial Debt and Net Equity. - Bank loans from Banco Citibank, Itaú, and Scotiabank, whose balances pending payment as of December 31, 2020 amounted to ThUS$ 174,154 and whose final maturity is in July 2021, include Debt Payment Capacity covenants, calculated as Net Financial Debt over EBITDA and the Itaú loan includes Indebtedness Ratio, calculated as Net Financial Debt over the sum of the Net Financial Debt and Net Equity. - As of December 31, 2020, the most restrictive financial covenant of Enel Distribución Río was the Indebtedness Ratio, contained in the loans with Citibank, Itaú and Scotiabank, and local bonds. Additionally, in Brazil, the debt of Enel Distribución Ceará includes the following covenants: - Loans with Electrobrás, whose balances pending payment as of December 31, 2020 amounted to ThUS$ 1,584 and whose final maturity is in October 2023, include the Debt Payment Capacity covenant, calculated as Total Net Debt over EBITDA. - Loans with BNDES, whose balances pending payment as of December 31, 2020 amounted to ThUS$ 1,986 and whose final maturity is in June 2023, include the Debt Payment Capacity covenants, calculated as Total Net Debt over Company EBITDA, and Indebtedness Ratio, calculated as Total Net Debt over the sum of Total Net Debt and Net Equity. - Fifth issuance, sixth issuance, seventh issuance of local bonds and loans with MUFG Bank, and Scotiabank, whose balances pending payment as of December 31, 2020 amounted to ThUS$ 405,046 and whose final maturity is in June 2025, including the Debt Payment Capacity covenant, calculated as Total Net Debt over EBITDA. - As of December 31, 2020, the most restrictive covenant held by Enel Distribución Ceará was the Debt Ratio/EBITDA corresponding to the loan with Electrobrás. Additionally, in Brazil, the debt of Enel Distribución Sao Paulo includes the following covenants: - 23rd and 24th issuance of local bonds and loans with MUFG Bank, Scotiabank, and BNP whose balances pending payment as of December 31, 2020 amounted to ThUS$ 886,881 and whose final maturity is in May 2026, include the Debt Payment Capacity covenant, calculated as Total Net Debt over EBITDA. - As of December 31, 2020, the most restrictive covenant of Enel Distribución Sao Paulo was the Debt / EBITDA Ratio of the 23rd local bond issue. 372372 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationFinally, in Brazil, the debt of Enel Green Power Volta Grande includes the following covenant: - 1st issuance of local bonds, whose balance pending payment as of December 31, 2020 amounted to ThUS$ 144,486 and whose final maturity is in October 2029, and includes the Debt Payment Capacity covenant, calculated as Total Net Debt over EBITDA. In Colombia, the debt of Codensa S.A. (“Codensa”), includes the following covenant: - Bank loan with MUFG Bank, whose balance pending payment as of December 31, 2020 amounted to ThUS$ 121,194 and whose final maturity is in May 2021, includes the Debt Payment Capacity covenant, calculated as Total Net Debt over EBITDA. The rest of the subsidiaries not mentioned in this Note are not subject to compliance with financial covenants. Lastly, in most of the contracts, debt acceleration due to non-compliance with these covenants is not automatic, and certain conditions must be met, such as expiration of the cure period, among other conditions. As of December 31, 2020, none of the subsidiaries of Enel Américas was in non-compliance with its financial obligations summarized herein, or other financial obligations whose non-compliance might result in the early maturity of their financial commitments. 35.5 COVID-19 contingency On January 30, 2020, the World Health Organization (WHO) declared the outbreak of the new coronavirus 2019, or COVID-19, to be a "Public Health Emergency of International Concern". On March 11, 2020, the WHO confirmed that the outbreak of COVID-19 had reached the level of a pandemic, which could significantly affect all the countries in which the Group operates, as well as the Group’s trade partners within and outside these countries. To address this international public health emergency due to COVID-19, the governments of all the countries in which Group operates, have adopted various measures, essentially designed to restrict free movement of individuals, which include quarantines, social isolation and temporary closure of companies and businesses, among other measures. Governments have also taken measures to preserve access to essential services such as water and electricity during the health emergency, especially directed to residential customers with lower income, small and medium sized companies and institutions that provide other essential services such as health establishments. These measures refer basically to the temporary suspension of disruption of electric supply due to customers recording payment default and deferral of the payment of electricity bills for a certain number of months, without interest or penalties charged to customers. In this sense, the Group issued guidelines intended to guarantee compliance with the measures introduced by the governments of the countries in which the Group operates and has taken a number of actions to adopt the most adequate procedures to prevent and/or mitigate the effects of COVID-19 infection in the workplace, while guaranteeing business continuity. The above has been possible mainly due to: • The use of telework for all employees whose jobs can be performed remotely (50% of the staff). This work mode was introduced in the Group a few years ago, which thanks to investment in digitalization, allows work to be performed remotely with the same level of efficiency and effectiveness; • Digitalization of processes and infrastructure, which ensures the normal operation of our generation assets, continuity of the electrical service and remote management of all activities related to the market and customer relations. 373 Annual Report Enel Américas 2020All the company’s efforts continue to focus on guaranteeing the correct and safe operation of our businesses, while at the same time safeguarding the health and safety of our collaborators and helping the community with various solidary measures. In relation to the degree of uncertainty generated in the macroeconomic and financial environment in which the Group operates and their effect on the Company’s income as of December 31, 2020, these are fundamentally related to an increase in the impairment loss on trade accounts (see Note 2.3, 3.g.3 and 10.c). 35.6 Other Information (i) Enel Generación Costanera S.A. - Enel Generación El Chocón S.A. – Central Dock Sud S.A. Fund for necessary investments to increase the supply of electricity in the MEM “FONINVEMEM” January 7, 2020 and February 10, 2020 were the 10-year anniversaries of the start of Commercial Operation of TMB and TSM, respectively, ending the electric energy supply contracts signed between the respective Trusts and CAMMESA at the time. Likewise, on the indicated dates, the respective trust Agreements and Contracts for the Operation and Maintenance Management (CO&M) of both power plants came to an end. TMB and TSM, as managing companies, together with their current shareholders (which include the Company as a guarantor) must perform the company actions necessary to allow the entry of the Argentine national government in the equity of both companies. The corresponding ownership interest of the Argentine national government is a controversial matter, since the government claims a higher share percentage of both thermoelectric plants. In order to ensure the operation and maintenance of the power plants, the term of the respective CO&M contracts has been extended, with the corresponding extensions being signed on January 7 and January 9, 2020, respectively. On May 4 and May 8, 2020 the Extraordinary Shareholders’ Meetings of TMB and TSM were held, respectively, whereby the shareholders agreed to increase the share capital in order for the Argentine national government to be able to subscribe to the capital increase, and in this manner, become the holder of 65.006% and 68.826 % of the shares of TMB and TSM, respectively, thus complying on time and in the proper manner with the condition precedent established in articles 1.01 and 7.03 of the Trust Agreements. Notwithstanding the above, the Company and the rest of the shareholders that participated in the meetings ratified the request (dated April 22, 2020) addressed to the Ministry of Productive Development by the Company together with other shareholders of TMB and TSM for the implementation of the share concentration scheme foreseen in the “Agreement for the Management and Operation of Projects, Increase in Thermoelectric Generation and Adaptation of the 2008-2011 Generation Remuneration”, and established a reserve for the damage claim actions in case such request was not accepted. During November 2020, BICE, acting as trustee, confirmed fulfillment of the suspensive condition mentioned above, upon valid performance of the corporate acts for the inclusion of the Argentine national government in the equity of TMB and TSM. At the date of these financial statements, the Argentine national government has not yet subscribed for theshares resulting from the capital increase, although the contractual obligations are irrevocable. After such subscription, the Trustees must transfer the assets under trust to TMB and TSM. Consequently, the Group holdings were reduced from 25.6% to 8.59% for the Manuel Belgrano Thermal Power Plant and 25.6% to 7.7% for the San Martín Thermal Power Plant. Central Vuelta Obligado (VOSA) On March 20, 2018, CAMMESA enabled the commercial operations of the TG and TV units in the Wholesale Electricity Market, operating as a combined cycle of the Vuelta de Obligado Plant, for up to 816 MW (net capacity). On February 7, 2019, VOSA entered into a Supply Contract, Operations Contract, and Management Contract, as well as pledge and assignment as collateral contracts, with CAMMESA. From March 2019, the Companies have been collecting monthly payments. As of December 1, 2020, the Companies have collected 22 of the 120 installments agreed in the contracts. 374374 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationThe outstanding balance as of December 31, 2020, is ThUS$ 311,875 (ThUS$ 350,519 in 2019). The breakdown by company is detailed as follows: (i) Enel Generación El Chocón S.A. amounting to ThUS$ 208,941 (ThUS$ 233,733 in 2019), (ii) Central Dock Sud S.A. amounting to ThUS$ 82,438 (ThUS$ 93,557 in 2019) and (iii) Enel Generación Costanera S.A. amounting to ThUS$ 20,496 (ThUS$ 23,229 in 2019) (See Note 10). (ii) Edesur: 2019 Regulatory Agreement On May 10, 2019, the Company entered into an Obligations Regularization Agreement with the Secretariat of Energy, on behalf of the Argentine State, which puts an end to the reciprocal claims arising during the transition period between 2006 and January 2017. On one hand, Edesur agrees to: (i) credit penalties to customers within a period of 3 years, adjusted at the prevailing rate of the Bank of the Argentine Nation (BNA); (ii) credit the fines contained in Appendix VIII of the 2006 Memorandum of Agreement, in up to 14 biannual installments, recalculated up to the date of effective payment according to the average increase registered by the own cost of distribution; (iii) based on the provisions of clause 5.4 of the Memorandum of Agreement, allocate the amounts of penalties for regular quality measurements during the transition period, to make additional investments over those established in the Integral Rate Review (RTI), which are intended to contribute to service improvement, reliability, and security. Moreover, new conditions were agreed upon in relation to the consumption loans granted by CAMMESA. Meanwhile, the Argentine State offset, in favor of the Company, commercial debts with CAMMESA for energy purchases performed in the Wholesale Electricity Market (MEM) prior to the effective date of the resolution issued by the National Electricity Regulator Body (ENRE) No. 1/2016, and the Argentine State's debts generated in 2017 and 2018 related to consumption in settlements measured by community meters, between July 2017 and December 31, 2018, in the proportion established in the New Framework Agreement and its successive renewals, and with the differences generated by the application of the maximum limit in the invoices issued to beneficiaries of the social rate. Moreover, the Argentine State forgave the sanctions owed to the Public Administration (see Note 24). The effects of this agreement generated a reduction in liabilities recorded in operating revenue for 2019 in the amount of ThUS$ 203,433 (approximately ARS 12,183 million). As a result of the application of IAS 29 “Financial Reporting in Hyperinflationary Economies,” these values at the year ended December 2019 were ThUS$ 261,185 (approximately ARS 15,641 million (see Note 28). 2020 Framework Agreement The Province of Buenos Aires requested the Argentine Ministry of Economy to initiate a bid process to correct the situation related to the electricity supply in low income neighborhoods between October 2017 and December 2020. On December 22, 2020, the Argentine national government, through the Ministry of Economy and Secretariat of Energy, the National Electricity Regulatory Body (ENRE), and the companies Edenor and Edesur, entered into an agreement to develop a mechanism to pay off debt corresponding to the Framework Agreement for such period, while the companies assumed the commitment to allocate said funds to improve electric service works and the status of the network supplying these neighborhoods with collective meters and other sensitive zones in the concessions area, without implying the extension of the downstream responsibility for those collective meters, according to the applicable regulations. By way of this agreement, during December 2020, ARS 1.5 billion (ThUS$ 17,842) has been recognized under “Other Revenue” in the 2020 statement of income (Note 28). 375 Annual Report Enel Américas 2020 NOTE 36. Headcount The Group personnel, including that of subsidiaries in the five Latin American countries where the Group operates, is distributed as follows as of December 31, 2020 and 2019: Country Chile Argentina Brazil Peru Colombia Total Average Country Chile Argentina Brazil Peru Colombia Total Average 12-31-2020 Managers and key executives Professionals and Technicians Staff and others 8 35 51 35 39 168 170 39 1.850 5.726 908 2.111 10.634 10.679 4 2.179 3.746 - - 5.929 6.120 12-31-2019 Managers and key executives Professionals and Technicians Staff and others 7 33 53 38 39 170 171 47 1.871 5.935 888 2.065 10.806 10.247 4 2.208 4.120 - 2 6.334 7.269 Total 51 4.064 9.523 943 2.150 16.731 16.969 Total 58 4.112 10.108 926 2.106 17.310 17.687 NOTE 37. Sanctions The main sanctions that the Group companies have received are described below. 1. Edesur S.A. (Empresa Distribuidora del Sur S.A.) As of December 31, 2020, considering the pending sanctions imposed by the National Electricity Regulator (ENRE) from the period beginning on October 1, 2020, Edesur S.A. has been penalized two times for violations to public road safety regulations – accidents and anomalies – (ENRE Resolutions 71/20 and 87/20) for an amount of ARS 1.5 million (ThUS$ 16). having appealed to all sanctions.. 2. Enel Distribución Río S.A. (Ampla Energia e Serviços S.A. or “Ampla”) Tax sanctions: The Brazilian Tax Authority imposed a fine on the after denying the authorization to offset federal taxes. Individual fines have been imposed on the company for 50% of the compensation requested and denied by the Brazilian authority The company filed its administrative defenses against the fines and is awaiting a ruling. There are also late penalties on federal tax offsets. The principal of the offset was accepted by the federal administration, but it acknowledged a payment delay, resulting in the collection of the fine of ThBRL 11,611 (ThUS$ 2,235). 376376 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information3. Enel Distribución Ceará S.A. (Companhia Energetica do Ceará S.A. or “Coelce”) - In 2012, the Brazilian National Electricity Regulatory Agency (ANEEL) imposed a fine of BRL 20.6 million on Enel Distribución Ceará for alleged errors in the records of the company’s asset base. Enel Distribución Ceará appealed against the fine resulting in a reduction of BRL 11.2 million. Considering the need to legalize the company’s status with the ANEEL, Enel Distribución Ceará posted a bond and filed a lawsuit for the fine’s total nullification. On July 26, 2019, a decision was issued that dismissed the lawsuit filed by Enel Distribución Ceará. On August 27, 2019, Enel Distribución Ceará filed an appeal, which is pending resolution. A favorable decision would result in a refund of the amount paid by Enel Distribución Ceará. As of December 31, 2020, the amount involved in the penalty was BRL 21.4 million (ThUS$ 4,120). - In 2020, ANEEL, through the Regulatory Agency of Delegated Public Services of the State of Ceará (Arce), imposed a fine on Enel of ThBRL 26.2 (ThUS$ 5,076) for non-compliance with energy supply quality indicators. Enel filed an appeal against the fine, which to date remains unresolved. On December 31, 2020, the amount involved in the penalty was BRL 26.2 million (ThUS$ 5,044). 4. Enel Distribución Goiás (formerly CELG Distribuição S.A.) - In 2016, the Brazilian National Electricity Regulatory Agency (ANEEL) imposed a fine of BRL 61 million on Enel Distribución Goiás for failure to fulfill a sector obligation (linked to the Account for the Development of Energy (Conta de Desenvolvimento Energético or CDE). Enel Distribución Goiás filed an appeal against the fine which is pending resolution. Enel Distribución Goiás posted a bond and filed a lawsuit for the fine’s total nullification, which is still pending resolution. As of December 31, 2020, the amount involved in the penalty was BRL 39.2 million (ThUS$7,547). - In 2019, the Brazilian National Electricity Regulatory Agency (ANEEL) imposed a fine of BRL 62 million on Enel Distribución Goiás for non-compliance of customer service and energy supply quality indicators. Enel Distribución Goiás filed an appeal against the fine, which is pending resolution. As of December 31, 2020, the amount involved in the penalty was BRL 61.6 million (ThUS$ 11,860). - In 2020, the Agência Goiana de Regulação - AGR imposed a fine on Enel of BRL 44 million (ThUS$ 8,471) for non- compliance with maintenance and violations of quality indicators (SAIDI/SAIFI). Enel filed an appeal against the fine with ANEEL, which is pending resolution. On December 31, 2020, the amount involved in the penalty was BRL 43.2 million (ThUS$ 8,317). 5. Enel Distribución Sao Paulo (formerly Eletropaulo) - ANEEL fined Eletropaulo for alleged errors in the records of the company’s asset base. Eletropaulo filed an appeal which was dismissed. Eletropaulo filed a lawsuit seeking the total nullification of the fine. The judge rendered a decision dismissing Eletropaulo’s claim, and Eletropaulo has filed an appeal with the court of second instance, which is pending resolution. As of December 31, 2020, the amount involved in the penalty was BRL 186.4 million (ThUS$ 35,888). - ANEEL fined Eletropaulo for alleged formal inconsistencies of asset accounting records. Eletropaulo asserted that the errors have not generated any negative practical consequences for tariffs, and even less for the service provided by the company. Eletropaulo’s administrative appeal was dismissed, and Eletropaulo filed a lawsuit for the total nullification of the fine. On May 29, 2019, the judge issued a judgment dismissing the claims made by Eletropaulo. On June 5, 2019, Eletropaulo submitted a petition for clarification against the judgment, for which the hearing is pending. On December 377 Annual Report Enel Américas 202027, 2019, a decision was issued confirming the impossibility of ANEEL to register Eletropaulo in its system of payment arrears and imposing the fine until the decision is final. As of December 31, 2020, the amount involved in the penalty was BRL 92.4 million (ThUS$ 17,790). - In 2012, ANEEL imposed a fine on Eletropaulo for alleged formal inconsistencies of records of consumer supply quality indices, as well as a payment of compensation to customers for non-compliance with these indices. Eletropaulo filed its administrative defenses and is awaiting the decision of ANEEL’s Board of Directors. In April 2020, Enel filed an annulment lawsuit with the court and a decision was issued suspending all the effects of the penalties. As of December 31, 2020, the amount involved in the penalty was BRL 29.5 million (ThUS$ 5,680). - On December 4, 2018, ANEEL imposed a fine on Eletropaulo for customer service quality issues. On December 14, 2018, Eletropaulo filed its administrative defenses against the fine and is awaiting the analysis and decision of ANEEL’s Electric Services Oversight Authority (SFE). As of December 31, 2020, the amount involved in the penalty was BRL 24.8 million (ThUS$ 4,775). - ANEEL imposed a fine on Eletropaulo for not complying with consumer supply quality indices during 2013. Eletropaulo filed its administrative defenses against the fine, which was decided unfavorably to the company. On July 24, 2018, Eletropaulo filed a lawsuit seeking the nullification of the fine, which is still pending resolution. As of December 31, 2020, the amount involved in the penalty was BRL 68.9 million (ThUS$ 13,265). - ANEEL imposed a fine on Eletropaulo for not complying with consumer supply quality indices during 2014. Eletropaulo filed its administrative defenses against the fine, which was decided unfavorably to the company. On July 31, 2018, Eletropaulo filed a lawsuit seeking the nullification or reduction of the fine. On October 17, 2019, the court rejected Eletropaulo’s request for nullification, against which the company filed a petition for clarification of the decision. On December 16, 2019, the petition was rejected. As of December 31, 2020, the amount involved in the penalty is BRL 35.2 million (ThUS$ 6,777). - ANEEL imposed a fine on Eletropaulo for nonconformity in the Doubtful Settlement Credit Budget process. Eletropaulo filed its administrative defenses against the fine, which was decided unfavorably to the company. Eletropaulo filed a lawsuit seeking the nullification or reduction of the fine. The first instance ruling was unfavorable to Eletropaulo, which filed an appeal that is pending resolution. As of December 31, 2020, the amount involved in the penalty is BRL 24.7 million (ThUS$ 4,775). - ANEEL imposed a fine on Eletropaulo for nonconformity in the Doubtful Settlement Credit Budget process. Eletropaulo filed its administrative defenses against the fine, which was decided unfavorably to the company. Eletropaulo filed a lawsuit seeking the nullification or reduction of the fine. The first instance ruling was favorable to Eletropaulo. However, ANEEL filed an appeal which is pending resolution. As of December 31, 2020, the amount involved in the penalty is BRL 77.3 million (ThUS$ 14,883). - In February 2003, the Municipality of Jandira imposed a fine on Eletropaulo for violation of municipal laws with respect to the road network in the municipality. Eletropaulo’s administrative defenses against the fines were decided unfavorably to the company. Eletropaulo filed a lawsuit seeking the nullification of the fine. The first instance ruling was unfavorable to Eletropaulo, which filed an appeal that is pending resolution. Eletropaulo filed an appeal with the Superior Courts (Superior Tribunal de Justiça and Supremo Tribunal Federal) for which, to date, no final decision has been issued. As of December 31, 2020, the amount involved is BRL 21.8 million (ThUS$ 4,197). - In July 2002, the Municipality of Jandira fined Eletropaulo for violation of municipal laws with respect to the road network in the municipality. As final ruling, Eletropaulo’s administrative defenses against the fines were decided unfavorably to the company. Eletropaulo filed a lawsuit seeking the nullification of the fine. The first instance ruling was favorable to Eletropaulo. The municipality filed an appeal which was dismissed by the Superior Tribunal de Justiça. |The municipality filed a subsequent appeal for its review by the panel of judges, who dismissed the appeal. As of December 31, 2020, the amount involved is BRL 25.3 million (ThUS$4,871). 378378 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information- The Municipality of Sao Paulo fined Eletropaulo for violation of municipal traffic laws involving a restricted area of circulation. Eletropaulo’s administrative defenses against the fines were decided unfavorably to the company. In 2011, Eletropaulo filed a lawsuit seeking the nullification of the fine. The first instance ruling was unfavorable to Eletropaulo, which filed an appeal that is pending resolution. As of December 31, 2020, the amount involved is BRL 33.8 million (ThUS$6,507). - In February 2012, the Municipality of Itapevi fined Eletropaulo for violation of municipal laws with respect to the road network in the municipality. Eletropaulo’s administrative defenses against the fines were decided unfavorably to the company. Eletropaulo filed a lawsuit seeking the nullification of the fine. The first instance ruling was unfavorable to Eletropaulo, which filed an appeal that is pending resolution. As of December 31, 2020, the amount involved is BRL 30.6 million (ThUS$ 5,891). - Tax sanctions: The Brazilian Tax Authority imposed a fine on the after denying the authorization to offset federal taxes. Individual fines have been imposed on the company for 50% of the compensation requested and denied by the Brazilian authority. The company filed its administrative defense against the fines and is awaiting a decision. As of December 31, 2020, the amount involved is BRL 48,9 million (ThUS$ 9,432). 6. Enel Generación Perú S.A.A. (formerly Edegel S.A.A.) As of December 31, 2019, Enel Generación Perú has incurred the following tax fines: - As part of a corporate tax audit procedure for the 1999 fiscal year, SUNAT issued a Notice of Fines No. 0120020004919 to Enel Generación Perú by means of which it imposed a fine of PEN 2,076,888 (ThUS$574) by way of annual corporate income tax, whose default interest as of the payment date amounted to PEN 10,501,965 (ThUS$2,903). Note that the imposition of this penalty is being challenged in the judicial courts. - As part of a corporate tax audit procedure for 2000 and 2001, SUNAT issued a Notice of Fines No. 0120020008723 to Enel Generación Perú by means of which it imposed a fine by way of corporate income tax for the year 2000. Considering several payments made and the reassessment made by SUNAT, to date, this penalty amounts to PEN 6,460,523 (ThUS$ 1,786), and the default interest to date amounts to PEN 15,043,925 (ThUS$ 4,158). Enel Generación Perú is currently challenging the reassessment of the fine at the Tax Court and the underlying substantive issue in the judicial courts. Note that PEN 7,928,535 (ThUS$2,192) has been duly paid. - As part of an audit procedure for the Ad Valorem General Sales Tax (IGV) and Municipal Promotion Tax (IPM) on imports for 2008 and 2009, SUNAT issued Division Resolution No. 0003X4100/2013-000440 to Banco Scotiabank del Perú (who is the legal owner of Central Santa Rosa under a finance lease agreement, whereby Enel Generación Perú is responsible for all contingencies arising therefrom), whereby a fine amounting to ThUS$2,974 was imposed (the customs fines were paid in dollars). The imposition of this fine is being discussed in the Judiciary, for which PEN 5,832,129 (ThUS$ 1,612) had to be paid, the default interest of which, to date, amounted to PEN 3,395,224 (ThUS$ 938). The full amount of the tax debt related to the aforementioned fine was not paid, since part of it was barred by the statute of limitations. 7. Enel Perú S.A.C. (formerly Generandes) As of December 31, 2019, Enel Perú had incurred the following tax fine: As part of an audit procedure for corporate tax and IGV for fiscal year 2000, SUNAT issued a Notice of Fines No. 0240030008355 to Enel Perú by means of which it imposed a fine of PEN 2,920,104 (ThUS$ 807) by way of annual corporate income tax and whose default interest as of the payment date amounted to PEN 14,053,695 (ThUS$3,885). Similarly, SUNAT issued Notices of Fines Nos. 0240020022829 through 0240020022831 to Enel Perú by means of which it imposed fines of PEN 1,771,933 (ThUS$ 490) for the improper application of the IGV for the periods of April, June and October 2000, whose default interest as of the payment date amounted to PEN10,231,619 (ThUS$2,828). Note that the imposition of these penalties is being challenged in the judicial courts. 379 Annual Report Enel Américas 2020 8. Enel Generación Piura (formerly EEPSA) As of December 31, 2019, Enel Generación Piura has incurred the following tax fine: - As part of a tax audit procedure for the IGV and IPM on imports for the 2011 fiscal year, SUNAT issued a Notice of Fines No. 0003Y4100/2014-000211 to Banco de Crédito del Perú (who is the legal owner of Malacas Power Plant under a finance lease agreement, whereby Enel Generación Piura is responsible for all contingencies arising therefrom) by means of which it imposed a penalty of PEN 6,868,256 (ThUS$1,898), whose current default interest to date amounts to PEN4,844,855 (ThUS$1,339). Note that the imposition of this penalty is being challenged in the judicial courts. NOTE 38. Environment Environmental expenses for the years ended December 31, 2020, 2019 and 2018, are as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Disbursing Company Project Name Environmental Description Emgesa S.A. E.S.P. Central Hidroelectrica El Quimbo Project Monitoring & hydrometeorological studies Other Law 99 Empresa Distribuidora Sur S.A. Contaminating Material Manipulation of contaminating material Compañía Distribuidora y Comercializadora de Energía S.A. Pcbs Decommissioning Nueva Esperanza Environmental Compensation Under Law 1196 of 2008, Colombia adopted the Stockholm Convention and this was regulated with the Ministry of the Environment's Resolution 222 of December 15, 2011, recognizing the provision for the decommissioning of transformers contaminated with PCBs. Compensations included in Resolution 1061 and Agreement 017 of 2013 issued by the Ministry of the Environment and the Autonomous Regional Corporation of Cundinamarca, respectively, which approves the substitution of the protecting and producing forestry reserve of the upper basin of the Bogota River, committing the Company to undertaking a compensation and reforestation plan in the construction zone of the Nueva Esperanza, Gran Sabana and Compartir substations Prevention Activities Protection of environmental biodiversity, treatment of waste waters Studies of environmental aspects Enel Generación Perú S.A. Environmental Studies Studies of environmental aspects Waste Management Handling of hazardous waste Mitigation and Restoration Protection and recovery of soil and water Environmental Monitoring Protection of the air and climate, noise reduction, protection against radiation Landscaping and Green Areas Maintaining green areas and small fauna Prevention Activities Protection of environmental biodiversity, treatment of waste waters Enel Generación Piura S.A. Environmental Studies Environmental aspect studies Waste Management Handling of hazardous waste Environmental Monitoring Protection of the air and climate, noise reduction Landscaping and Green Areas Maintaining green areas and small fauna Chinango S.A.C. Waste Management Handling of hazardous waste Environmental Studies Environmental aspect studies Prevention Activities Protection of the air and climate, noise reduction, protection against radiation Mitigation and Restoration Protection and recovery of soil and water Environmental Monitoring Protection of the air and climate, noise reduction, protection against radiation Total 380380 Project Status [Finished, Disbursement Capitalized Expense disbursement date of future Total prior period amount amount amount amount disbursement disbursements disbursement Future Estimated 2019 Amount of 4,221 12-31-2022 480 276 4,221 74 522 208 4,588 133 In progress 2,341 2,180 161 5,375 12-31-2027 7,716 7,838 83 - 309 12-31-2022 12-31-2020 2020 480 276 - 74 222 103 204 6 111 89 55 22 37 28 42 72 31 115 7 108 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 480 276 - 74 83 222 103 204 6 111 89 55 22 37 28 42 72 31 115 7 108 392 222 103 204 6 111 89 55 22 37 28 42 72 31 115 7 108 309 78 116 342 29 86 90 35 29 76 42 - - 24 53 19 277 in progress] In progress In progress In progress In progress In progress Completed Completed Completed Completed Completed Completed Completed Completed Completed Completed Completed Completed Completed Completed Completed Completed 4,506 2,263 2,243 9,905 - 14,411 14,894 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information- As part of the audit procedure for the Ad Valorem General Sales Tax (IGV) and Municipal Promotion Tax (IPM) on imports for 2016, SUNAT issued Division Resolution No. 253- 2020-SUNAT-323100 to Bank Scotiabank del Perú (who is the legal owner of the Malacas Power Plant Replacement Project – Unit TG6, under a finance lease agreement, whereby Enel Generación Piura is responsible for all contingencies arising therefrom), whereby a fine amounting to PEN 4,552,490 (ThUS $ 1,258) was partially canceled (reduced by 60%) resulting in a fine amounting to PEN 1,820,995 (ThUS $ 503) plus default interest in the amount of PEN 1,165,075 (ThUS $ 322), as of the date of payment. The imposition of the aforementioned fine is being discussed before SUNAT. In relation to the sanctions described above, the Group has established provisions for ThUS $ 49,856 as of December 31, 2020 (see Note 25). There are other sanctions that also have associated provisions, but they are not described in this note, since they individually represent smaller amounts. Management believes that the provisions recorded adequately cover the risks due to penalties, Therefore, they do not expect additional liabilities to arise from those already registered. NOTE 38. Environment Environmental expenses for the years ended December 31, 2020, 2019 and 2018, are as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Disbursing Company Project Name Environmental Description Monitoring & hydrometeorological studies Emgesa S.A. E.S.P. Central Hidroelectrica El Quimbo Project Other Law 99 Empresa Distribuidora Sur S.A. Contaminating Material Manipulation of contaminating material Pcbs Decommissioning regulated with the Ministry of the Environment's Resolution 222 of December 15, 2011, Under Law 1196 of 2008, Colombia adopted the Stockholm Convention and this was Compañía Distribuidora y Comercializadora de Energía S.A. Nueva Esperanza Environmental Compensation Compensations included in Resolution 1061 and Agreement 017 of 2013 issued by the Ministry of the Environment and the Autonomous Regional Corporation of Cundinamarca, respectively, which approves the substitution of the protecting and producing forestry reserve of the upper basin of the Bogota River, committing the Company to undertaking a compensation and reforestation plan in the construction zone of the Nueva Esperanza, Gran Sabana and Compartir substations Protection of environmental biodiversity, treatment of waste waters Enel Generación Perú S.A. Prevention Activities Studies of environmental aspects Environmental Studies Studies of environmental aspects Waste Management Handling of hazardous waste Mitigation and Restoration Protection and recovery of soil and water Environmental Monitoring Protection of the air and climate, noise reduction, protection against radiation Landscaping and Green Areas Maintaining green areas and small fauna Prevention Activities Protection of environmental biodiversity, treatment of waste waters Enel Generación Piura S.A. Environmental Studies Environmental aspect studies Waste Management Handling of hazardous waste Environmental Monitoring Protection of the air and climate, noise reduction Landscaping and Green Areas Maintaining green areas and small fauna Chinango S.A.C. Waste Management Handling of hazardous waste Environmental Studies Environmental aspect studies Prevention Activities Protection of the air and climate, noise reduction, protection against radiation Mitigation and Restoration Protection and recovery of soil and water Environmental Monitoring Protection of the air and climate, noise reduction, protection against radiation 2020 Project Status [Finished, in progress] Disbursement amount Capitalized amount Expense amount Future disbursement amount Estimated date of future disbursement Total disbursements In progress In progress In progress In progress 480 276 - 74 - - - - 480 276 - 74 - - 4,221 12-31-2022 - 480 276 4,221 74 2019 Amount of prior period disbursement 522 208 4,588 133 recognizing the provision for the decommissioning of transformers contaminated with PCBs. In progress 2,341 2,180 161 5,375 12-31-2027 7,716 7,838 In progress Completed Completed Completed Completed Completed Completed Completed Completed Completed Completed Completed Completed Completed Completed Completed Completed 83 222 103 204 6 111 89 55 22 37 28 42 72 31 115 7 108 83 - 309 12-31-2022 12-31-2020 - - - - - - - - - - - - - - - - 222 103 204 6 111 89 55 22 37 28 42 72 31 115 7 108 - - - - - - - - - - - - - - - - 392 222 103 204 6 111 89 55 22 37 28 42 72 31 115 7 108 309 78 116 342 29 86 90 35 29 76 42 - - 24 53 19 277 Total 4,506 2,263 2,243 9,905 - 14,411 14,894 381 Annual Report Enel Américas 2020 IN THOUSANDS OF U.S. DOLLARS – THUS$ Disbursing Company Project Name Emgesa S.A. E.S.P. Central Hidroelectrica El Quimbo Project Empresa Distribuidora Sur S.A. Contaminating Material Pcbs Decommissioning Compañía Distribuidora y Comercializadora de Energía S.A. Nueva Esperanza Environmental Compensation Enel Generación Perú S.A. Enel Generación Piura S.A. Chinango S.A.C. Enel Distribución S.A. Total Prevention Activities Environmental Studies Waste Management Mitigation and Restoration Environmental Monitoring Landscaping and Green Areas Prevention Activities Environmental Studies Waste Management Environmental Monitoring Landscaping and Green Areas Environmental Studies Waste Management Mitigation and Restoration Environmental Monitoring Waste Management IN THOUSANDS OF U.S. DOLLARS – THUS$ Disbursing Company Project Name Emgesa S.A. E.S.P. Empresa Distribuidora Sur S.A. Chinango S.A.C. Compañía Distribuidora y Comercializadora de Energía S.A. Central Hidroelectrica El Quimbo Project Contaminating Material Prevention Activities Environmental Studies Waste Management Mitigation and Restoration Environmental Monitoring Landscaping and Green Areas Pcbs Decommissioning Nueva Esperanza Environmental Compensation Enel Generación Perú S.A. Prevention Activities Environmental Studies Waste Management Mitigation and Restoration Environmental Monitoring Landscaping and Green Areas Total 382382 Environmental Description Monitoring & hydrometeorological studies Other Law 99 Manipulation of contaminating material Under Law 1196 of 2008, Colombia adopted the Stockholm Convention and this was regulated with the Ministry of the Environment's Resolution 222 of December 15, 2011, recognizing the provision for the decommissioning of transformers contaminated with PCBs. Compensations included in Resolution 1061 and Agreement 017 of 2013 issued by the Ministry of the Environment and the Autonomous Regional Corporation of Cundinamarca, respectively, which approves the substitution of the protecting and producing forestry reserve of the upper basin of the Bogota River, committing the Company to undertaking a compensation and reforestation plan in the construction zone of the Nueva Esperanza, Gran Sabana and Compartir substations Protection of environmental biodiversity, treatment of waste waters Environmental aspect studies Handling of hazardous waste Protection and recovery of soil and water Protection of the air and climate, noise reduction, protection against radiation Maintaining green areas and small fauna Protection of environmental biodiversity, treatment of waste waters Environmental aspect studies Handling of hazardous waste Protection of the air and climate, noise reduction. Maintaining green areas and small fauna Environmental aspect studies Handling of hazardous waste Protection and recovery of soil and water Protection of the air and climate, noise reduction, protection against radiation Elimination of particles and other special waste Environmental Description Environmental Management Plan El Quimbo Manipulation of contaminating material Protection of environmental biodiversity Environmental aspect studies Handling of hazardous waste Protection and recovery of soil and water Protection of the air and climate, noise reduction, protection against radiation Maintaining green areas and small fauna Under Law 1196 of 2008, Colombia adopted the Stockholm Convention and this was regulated with the Ministry of the Environment's Resolution 222 of December 15, 2011, recognizing the provision for the decommissioning of transformers contaminated with PCBs. Compensations included in Resolution 1061 and Agreement 017 of 2013 issued by the Ministry of the Environment and the Autonomous Regional Corporation of Cundinamarca, respectively, which approves the substitution of the protecting and producing forestry reserve of the upper basin of the Bogota River, committing the Company to undertaking a compensation and reforestation plan in the construction zone of the Nueva Esperanza, Gran Sabana and Compartir substations Protection of environmental biodiversity, treatment of waste waters Environmental aspect studies Handling of hazardous waste Protection and recovery of soil and water Protection of the air and climate, noise reduction, protection against radiation Maintaining green areas and small fauna Disbursement Capitalized Expense disbursement date of future amount amount amount amount disbursement disbursements 2019 Future Estimated - - 4,588 12-31-2021 In progress 1,693 1,399 294 6,145 12-31-2027 7,838 189 105 522 208 - 133 204 78 116 342 29 86 90 35 29 76 42 49 24 53 19 277 243 - 130 57 63 44 - 426 11 493 301 256 314 37 180 220 - - - - - - - - - - - - - - - - - - - - - - - - - - - - 481 - - - - - - 522 208 - 133 15 78 116 342 29 86 90 35 29 76 42 49 24 53 19 277 243 - 130 57 63 44 - 426 11 12 301 256 314 37 180 220 - - - - - - - - - - - - - - - - - - - - - - - - - - 1 - - - - - - 12-31-2019 12-31-2019 12-31-2019 12-31-2019 12-31-2019 12-31-2019 12-31-2019 12-31-2019 12-31-2019 12-31-2019 12-31-2019 12-31-2019 12-31-2019 12-31-2019 12-31-2019 12-31-2019 12-31-2019 7,495 12-31-2020 - 12-31-2018 12-31-2018 12-31-2018 12-31-2018 12-31-2018 12-31-2018 12-31-2019 12-31-2018 12-31-2018 12-31-2018 12-31-2018 12-31-2018 12-31-2018 Total 522 208 4,588 133 309 78 116 342 29 86 90 35 29 76 42 49 24 53 19 277 243 7,495 130 57 63 44 - 426 11 494 301 256 314 37 180 220 Project Status [Finished, in progress] In progress In progress In progress In progress In progress In progress In progress In progress In progress In progress In progress In progress In progress In progress In progress In progress In progress In progress In progress In progress Completed Project Status [Finished, in progress] In progress In progress In progress In progress In progress In progress In progress In progress In progress In progress In progress In progress In progress In progress In progress 4,348 1,588 2,760 10,838 - 15,186 Disbursement Capitalized Expense disbursement date of future Total amount amount amount amount disbursement disbursements 2018 Future Estimated In progress 373 113 260 7 12-31-2018 380 2,905 594 2,311 7,503 - 10,408 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationIN THOUSANDS OF U.S. DOLLARS – THUS$ Disbursing Company Project Name Emgesa S.A. E.S.P. Central Hidroelectrica El Quimbo Monitoring & hydrometeorological studies Environmental Description Project Other Law 99 Empresa Distribuidora Sur S.A. Contaminating Material Manipulation of contaminating material Compañía Distribuidora y Pcbs Decommissioning Under Law 1196 of 2008, Colombia adopted the Stockholm Convention and this Comercializadora de Energía S.A. was regulated with the Ministry of the Environment's Resolution 222 of December 15, 2011, recognizing the provision for the decommissioning of transformers contaminated with PCBs. Nueva Esperanza Environmental Compensations included in Resolution 1061 and Agreement 017 of 2013 issued Compensation by the Ministry of the Environment and the Autonomous Regional Corporation of Cundinamarca, respectively, which approves the substitution of the protecting and producing forestry reserve of the upper basin of the Bogota River, committing the Company to undertaking a compensation and reforestation plan in the construction zone of the Nueva Esperanza, Gran Sabana and Compartir substations Enel Generación Perú S.A. Prevention Activities Protection of environmental biodiversity, treatment of waste waters Environmental Studies Waste Management Environmental aspect studies Handling of hazardous waste Mitigation and Restoration Protection and recovery of soil and water Enel Generación Piura S.A. Prevention Activities Protection of environmental biodiversity, treatment of waste waters Environmental Monitoring Protection of the air and climate, noise reduction, protection against radiation Landscaping and Green Areas Maintaining green areas and small fauna Environmental Studies Waste Management Environmental aspect studies Handling of hazardous waste Environmental Monitoring Protection of the air and climate, noise reduction. Landscaping and Green Areas Maintaining green areas and small fauna Environmental Studies Waste Management Environmental aspect studies Handling of hazardous waste Mitigation and Restoration Protection and recovery of soil and water Enel Distribución S.A. Waste Management Elimination of particles and other special waste Environmental Monitoring Protection of the air and climate, noise reduction, protection against radiation Chinango S.A.C. Total IN THOUSANDS OF U.S. DOLLARS – THUS$ Disbursing Company Project Name Environmental Description Emgesa S.A. E.S.P. Central Hidroelectrica El Quimbo Empresa Distribuidora Sur S.A. Contaminating Material Manipulation of contaminating material Project Environmental Management Plan El Quimbo Chinango S.A.C. Prevention Activities Environmental Studies Waste Management Protection of environmental biodiversity Environmental aspect studies Handling of hazardous waste Mitigation and Restoration Protection and recovery of soil and water Compañía Distribuidora y Pcbs Decommissioning Under Law 1196 of 2008, Colombia adopted the Stockholm Convention and this Environmental Monitoring Protection of the air and climate, noise reduction, protection against radiation Landscaping and Green Areas Maintaining green areas and small fauna Comercializadora de Energía S.A. was regulated with the Ministry of the Environment's Resolution 222 of December 15, 2011, recognizing the provision for the decommissioning of transformers contaminated with PCBs. Nueva Esperanza Environmental Compensations included in Resolution 1061 and Agreement 017 of 2013 issued Compensation by the Ministry of the Environment and the Autonomous Regional Corporation of Cundinamarca, respectively, which approves the substitution of the protecting and producing forestry reserve of the upper basin of the Bogota River, committing the Company to undertaking a compensation and reforestation plan in the construction zone of the Nueva Esperanza, Gran Sabana and Compartir substations Enel Generación Perú S.A. Prevention Activities Protection of environmental biodiversity, treatment of waste waters Environmental Studies Waste Management Environmental aspect studies Handling of hazardous waste Mitigation and Restoration Protection and recovery of soil and water Environmental Monitoring Protection of the air and climate, noise reduction, protection against radiation Landscaping and Green Areas Maintaining green areas and small fauna Total Project Status [Finished, in progress] In progress In progress In progress In progress Disbursement amount 522 208 - 133 Capitalized amount - - - - 2019 Expense amount 522 208 - 133 Future disbursement amount - - 4,588 - Estimated date of future disbursement - - 12-31-2021 Total disbursements 522 208 4,588 133 In progress 1,693 1,399 294 6,145 12-31-2027 7,838 In progress In progress In progress In progress In progress In progress In progress In progress In progress In progress In progress In progress In progress In progress In progress In progress Completed Project Status [Finished, in progress] In progress In progress In progress In progress In progress In progress In progress In progress 204 78 116 342 29 86 90 35 29 76 42 49 24 53 19 277 243 189 - - - - - - - - - - - - - - - - 15 78 116 342 29 86 90 35 29 76 42 49 24 53 19 277 243 105 - - - - - - - - - - - - - - - - 12-31-2019 12-31-2019 12-31-2019 12-31-2019 12-31-2019 12-31-2019 12-31-2019 12-31-2019 12-31-2019 12-31-2019 12-31-2019 12-31-2019 12-31-2019 12-31-2019 12-31-2019 12-31-2019 12-31-2019 309 78 116 342 29 86 90 35 29 76 42 49 24 53 19 277 243 4,348 1,588 2,760 10,838 - 15,186 Disbursement amount Capitalized amount Expense amount Future disbursement amount Estimated date of future disbursement Total disbursements 2018 - 130 57 63 44 - 426 11 - - - - - - - - - 130 57 63 44 - 426 11 7,495 - - - - - - - 12-31-2020 - 12-31-2018 12-31-2018 12-31-2018 12-31-2018 12-31-2018 12-31-2018 7,495 130 57 63 44 - 426 11 In progress 373 113 260 7 12-31-2018 380 In progress In progress In progress In progress In progress In progress In progress 493 301 256 314 37 180 220 2,905 481 - - - - - - 594 12 301 256 314 37 180 220 1 - - - - - - 12-31-2019 12-31-2018 12-31-2018 12-31-2018 12-31-2018 12-31-2018 12-31-2018 494 301 256 314 37 180 220 2,311 7,503 - 10,408 383 Annual Report Enel Américas 2020NOTE 39. Financial information on subsidiaries, summarized As of December 31, 2020, 2019 and 2018 summarized financial information of our main subsidiaries prepared under IFRS is as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Enel Argentina S.A. Enel Generación Costanera S.A. Enel Generación El Chocón S.A. Empresa Distribuidora Sur S.A. Enel Trading Argentina S.R.L Dock Sud S.A. Grupo Enel Argentina Enel Brasil S.A. Enel Generación Fortaleza S.A. EGP Cachoeira Dourada S.A. EGP Volta Grande Enel Cien S.A. Compañía de Transmisión del Mercosur S.A. Transportadora de Energía S.A. Enel Distribución Ceará S.A. Enel Distribución Rio S.A. Enel Distribución Goiás S.A. Enel X Brasil S.A. Enel Distribuicao Sao Paulo S.A. Grupo Enel Brasil Emgesa S.A. E.S.P. Compañía Distribuidora y Comercializadora de Energía S.A. Enel Perú, S.A.C. Enel Generación Perú S.A.A. Chinango S.A.C. Enel Generación Piura S.A. Enel Distribución Perú S.A.A. Grupo Enel Perú IN THOUSANDS OF U.S. DOLLARS – THUS$ Enel Argentina S.A. Enel Generación Costanera S.A. Enel Generación El Chocón S.A. Empresa Distribuidora Sur S.A. Enel Trading Argentina S.R.L Dock Sud S.A. Grupo Enel Argentina Enel Brasil S.A. Enel Generación Fortaleza S.A. EGP Cachoeira Dourada S.A. EGP Volta Grande Enel Cien S.A. Compañía de Transmisión del Mercosur S.A. Transportadora de Energía S.A. Enel Distribución Ceará S.A. Enel Distribución Rio S.A. Enel Distribución Goiás S.A. Enel X Brasil S.A. Enel Distribuicao Sao Paulo S.A. Grupo Enel Brasil Emgesa S.A. E.S.P. Compañía Distribuidora y Comercializadora de Energía S.A. Enel Perú, S.A.C. Enel Generación Perú S.A.A. Chinango S.A.C. Enel Generación Piura S.A. Enel Distribución Perú S.A.A. Grupo Enel Perú Financial Statements Separate Separate Separate Separate Separate Separate Consolidated Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Consolidated Separate Separate Separate Separate Separate Separate Separate Consolidated Financial Statements Separate Separate Separate Separate Separate Separate Consolidated Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Consolidated Separate Separate Separate Separate Separate Separate Separate Consolidated 384384 12-31-2020 12-31-2020 Current Assets 40,432 96,321 91,441 274,169 12,882 97,880 312,760 567,492 76,390 584,030 31,525 31,496 2,554 2,144 575,851 705,578 566,168 19,617 1,515,162 4,143,213 353,946 499,983 34,757 315,244 8,892 60,425 191,178 546,260 Current Assets 43,219 113,909 101,114 284,126 23,432 105,726 326,191 371,174 119,719 213,201 42,230 113,996 6,856 4,914 629,655 722,394 665,187 17,886 1,701,300 4,211,380 251,413 363,838 37,589 361,697 6,346 75,118 153,382 551,844 Non-Current Assets 65,563 253,484 268,572 1,442,360 1,263 172,641 841,974 4,484,221 133,672 130,285 274,019 141,069 10,089 11,705 1,322,709 1,588,563 2,032,002 22,477 5,198,704 11,396,553 2,420,483 1,973,507 1,288,805 880,207 131,158 164,399 1,263,496 2,382,886 Non-Current Assets 87,644 270,423 315,842 1,456,918 1,551 256,881 927,948 5,186,673 193,438 98,107 345,708 151,707 701 3,924 1,624,665 1,962,608 2,355,246 15,089 6,062,310 13,471,236 2,524,074 1,842,861 1,403,189 974,784 153,370 180,365 1,305,567 2,562,083 Total Assets 105,995 349,805 360,013 1,716,529 14,145 270,521 1,154,734 5,051,713 210,062 714,315 305,544 172,565 12,643 13,849 1,898,560 2,294,141 2,598,170 42,094 6,713,866 15,539,766 2,774,429 2,473,490 1,323,562 1,195,451 140,050 224,824 1,454,674 2,929,146 12-31-2019 Total Assets 130,863 384,332 416,956 1,741,044 24,983 362,607 1,254,139 5,557,847 313,157 311,308 387,938 265,703 7,557 8,838 2,254,320 2,685,002 3,020,433 32,975 7,763,610 17,682,616 2,775,487 2,206,699 1,440,778 1,336,481 159,716 255,483 1,458,949 3,113,927 Current Liabilities 1,293 96,132 30,857 591,523 10,573 10,749 124,270 344,060 52,283 563,242 31,433 17,527 10,443 8,490 589,631 574,409 925,334 20,560 1,614,149 4,211,671 570,718 640,774 180,490 191,039 7,061 58,135 249,068 627,532 Current Liabilities 2,152 112,412 75,003 509,223 21,486 52,678 185,096 145,721 108,806 193,295 29,751 13,358 50,954 52,590 525,921 910,507 795,562 13,676 1,474,482 3,919,122 387,804 545,689 41,359 172,150 6,349 64,559 272,268 482,477 Non- Current Liabilities - 74,375 43,537 415,191 - 28,575 115,750 225,338 19,535 20,520 138,557 407 - 482 651,669 1,011,309 517,983 583 3,852,132 6,169,465 697,179 840,051 10,990 208,495 26,392 24,746 471,377 734,466 Non- Current Liabilities - 105,047 56,983 429,766 - 52,732 151,167 376,140 737 3,280 185,505 16,240 8,030 9,207 902,000 830,069 903,997 307 4,310,495 7,528,800 943,882 704,527 10,868 259,367 38,766 33,669 467,924 805,168 Equity 104,702 179,298 285,619 709,815 3,572 231,197 914,714 4,482,315 138,244 130,553 135,554 154,631 2,200 4,877 657,260 708,423 1,154,853 20,951 1,247,585 5,158,630 1,506,532 992,665 1,132,082 795,917 106,597 141,943 734,229 1,567,148 Equity 128,711 166,873 284,970 802,055 3,497 257,197 917,876 5,035,986 203,614 114,733 172,682 236,105 (51,427) (52,959) 826,399 944,426 1,320,874 18,992 1,978,633 6,234,694 1,443,801 956,483 1,388,551 904,964 114,601 157,255 718,757 1,826,282 Total Liabilities and Equity 105,995 349,805 360,013 1,716,529 14,145 270,521 1,154,734 5,051,713 210,062 714,315 305,544 172,565 12,643 13,849 1,898,560 2,294,141 2,598,170 42,094 6,713,866 15,539,766 2,774,429 2,473,490 1,323,562 1,195,451 140,050 224,824 1,454,674 2,929,146 Total Liabilities and Equity 130,863 384,332 416,956 1,741,044 24,983 362,607 1,254,139 5,557,847 313,157 311,308 387,938 265,703 7,557 8,838 2,254,320 2,685,002 3,020,433 32,975 7,763,610 17,682,616 2,775,487 2,206,699 1,440,778 1,336,481 159,716 255,483 1,458,949 3,113,927 Raw Materials and Consumables Contribution Operating Income Financial Results Income Before Profit (Loss) Other Total Comprehensive Comprehensive 1,546,963 (886,155) 660,808 Revenue - 112,931 48,505 801,229 3,086 66,334 161,093 502 187,227 812,275 62,398 52,705 45,439 37,973 1,141,882 1,220,592 1,392,402 13,357 2,980,109 7,581,035 1,159,134 - 408,604 41,000 63,874 886,663 1,243,994 Revenue - 213,606 71,807 1,346,888 7,497 146,958 285,277 977 309,525 494,303 106,792 70,295 1,142 1,112 1,373,202 1,514,836 1,544,899 19,359 3,720,782 8,611,146 1,246,989 11 478,155 45,030 82,155 950,350 1,382,941 Used (600) (4,963) (4,543) (530,338) (189) (10,025) (11,572) (139) (118,673) (666,295) (10,548) (83,694) - - (835,325) (869,354) (1,026,859) (4,454) (2,206,107) (5,450,909) (412,530) - (140,350) (4,496) (23,435) (598,157) (621,907) Used - (68,969) (5,957) (773,693) (950) (54,326) (74,927) (85) (183,394) (394,776) (42,895) (967) - - (991,979) (1,029,220) (1,100,077) (6,434) (2,699,108) (5,906,735) (465,768) - (178,102) (5,081) (27,861) (619,181) (676,173) 1,665,318 (962,174) Margin (600) 107,968 43,962 270,891 2,897 56,309 149,521 363 68,554 145,980 51,850 (30,989) 45,439 37,973 306,557 351,238 365,543 8,903 774,002 2,130,126 746,604 - 268,254 36,504 40,439 288,506 622,087 - 144,637 65,850 573,195 6,547 92,632 210,350 892 126,131 99,527 63,897 69,328 1,142 1,112 381,223 485,616 444,822 12,925 1,021,674 2,704,411 781,221 703,144 11 300,053 39,949 54,294 331,169 706,768 Gross Operating Income (2,459) 60,965 35,964 49,912 706 42,590 92,860 (41,809) 61,986 134,715 48,505 (37,406) 44,911 37,284 167,515 199,503 167,630 (3,705) 552,367 1,337,914 673,446 506,794 (215) 210,702 31,273 30,016 213,898 475,905 (463) 100,244 58,055 307,066 3,599 81,806 157,774 (57,320) 114,170 85,746 59,632 61,376 789 601 224,266 299,779 220,030 (1,373) 638,496 1,645,516 710,320 556,513 (1,155) 243,359 34,113 44,074 257,473 561,494 (2,459) 18,811 21,800 (68,276) 414 14,445 36,542 (42,724) 51,176 129,601 48,484 (45,046) 44,472 35,806 74,542 62,080 83,459 (6,711) 333,460 774,682 606,868 375,127 (215) 162,140 27,319 18,512 141,464 339,421 (463) 59,860 42,906 211,031 3,321 50,775 102,242 (58,076) 99,940 79,065 59,607 49,598 (530) (923) 140,695 163,829 22,568 (4,677) 378,591 928,952 637,221 431,004 (1,155) 191,690 29,868 32,902 196,436 433,368 11,264 (9,445) 37,910 22,605 (130) 3,472 61,778 (127,544) (521) (6,103) (11,785) 23,435 (17,275) (13,356) (4,767) (46,093) (41,127) (2,009) (76,312) (321,390) (70,522) (49,171) (6,072) 10,361 (87) (4,873) (25,042) (26,007) 8,963 22,628 59,477 54,470 (92) 12,036 112,784 (85,784) 13,389 (100) (13,583) 19,722 (10,469) (10,288) (18,246) (55,984) (59,708) (311) (100,835) (356,940) (81,785) (58,397) (1,473) (4,886) (723) (317) (22,938) (30,553) Taxes 12,146 9,497 62,211 (45,636) 284 17,968 71,522 168,090 50,655 123,498 36,700 (21,612) 27,197 22,450 70,014 16,145 42,806 (8,720) 257,148 454,162 536,449 325,977 156,138 186,817 27,232 17,249 116,427 317,029 Taxes 39,714 82,582 103,800 265,560 3,229 63,132 299,022 88,858 113,329 78,965 46,024 69,320 (10,999) (11,212) 122,937 109,105 (36,744) (4,988) 277,756 574,154 555,672 372,680 127,289 200,977 29,145 32,595 184,153 413,480 Income Taxes 874 7,928 (9,332) (22,866) (103) (13,426) 1,130 36,441 (19,628) (41,504) (12,486) 7,275 (996) 801 (18,464) (5,706) (16,729) 973 (77,974) (148,157) (188,883) (97,881) - (42,052) (8,152) (5,852) (38,488) (91,896) Income Taxes (2,453) (24,642) (21,770) (76,548) (1,295) (1,007) (54,044) 15,025 (36,130) (25,671) (15,173) (39,773) 296 333 (19,875) (37,009) 11,462 539 460,335 314,359 (180,207) (122,066) (8) (56,340) (8,685) (9,275) (55,649) (125,187) 204,531 (1,088,424) 13,020 17,425 52,879 (68,502) 181 4,542 72,652 31,027 81,994 24,214 (14,337) 26,201 23,251 51,550 10,439 26,077 (7,747) 179,174 306,005 347,566 228,096 156,138 144,765 19,080 11,397 77,939 225,133 37,261 57,940 82,030 189,012 1,934 62,125 244,978 103,883 77,199 53,294 30,851 29,547 (10,703) (10,879) 103,062 72,096 (25,282) (4,449) 738,091 888,513 375,465 250,614 127,281 144,637 20,460 23,320 128,504 288,293 Income (37,029) (47,631) (66,592) (230,171) (1,006) (68,182) (258,557) (31,881) (15,502) (32,034) (48,724) 14,795 15,236 (178,829) (229,670) (306,258) (4,323) (677,886) (1,678,028) (19,348) (14,970) (96,339) (66,777) (8,334) (12,361) (62,468) (246,279) Other Income (53,938) (41,288) (70,096) (237,185) (600) (74,649) (270,493) (149,216) (5,465) 2,285 (844) (4,600) 15,634 16,154 (26,723) (46,182) (59,597) (679) (412,571) (559,512) 7,209 (615) 27,105 18,483 2,791 2,948 13,065 64,392 Income (24,009) (30,206) (13,713) (298,673) (825) (63,640) (185,905) (883,893) (854) 66,492 (7,820) (63,061) 40,996 38,487 (127,279) (219,231) (280,181) (12,070) (498,712) (1,372,023) 328,218 213,126 59,799 77,988 10,746 (964) 15,471 (21,146) Total Income (16,677) 16,652 11,934 (48,173) 1,334 (12,524) (25,515) (45,333) 71,734 55,579 30,007 24,947 4,931 5,275 76,339 25,914 (84,879) (5,128) 325,520 329,001 382,674 249,999 154,386 163,120 23,251 26,268 141,569 352,685 Raw Materials and Consumables Contribution Margin Gross Operating Income 12-31-2019 Operating Income Financial Results Income Before Comprehensive Comprehensive Profit (Loss) 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationNOTE 39. Financial information on subsidiaries, As of December 31, 2020, 2019 and 2018 summarized financial information of our main subsidiaries prepared under IFRS summarized is as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ Compañía de Transmisión del Mercosur S.A. Compañía Distribuidora y Comercializadora de Energía Enel Argentina S.A. Enel Generación Costanera S.A. Enel Generación El Chocón S.A. Empresa Distribuidora Sur S.A. Enel Trading Argentina S.R.L Dock Sud S.A. Grupo Enel Argentina Enel Brasil S.A. Enel Generación Fortaleza S.A. EGP Cachoeira Dourada S.A. EGP Volta Grande Enel Cien S.A. Transportadora de Energía S.A. Enel Distribución Ceará S.A. Enel Distribución Rio S.A. Enel Distribución Goiás S.A. Enel X Brasil S.A. Enel Distribuicao Sao Paulo S.A. Grupo Enel Brasil Emgesa S.A. E.S.P. S.A. Enel Perú, S.A.C. Enel Generación Perú S.A.A. Chinango S.A.C. Enel Generación Piura S.A. Enel Distribución Perú S.A.A. Grupo Enel Perú Enel Argentina S.A. Enel Generación Costanera S.A. Enel Generación El Chocón S.A. Empresa Distribuidora Sur S.A. Enel Trading Argentina S.R.L Dock Sud S.A. Grupo Enel Argentina Enel Brasil S.A. Enel Generación Fortaleza S.A. EGP Cachoeira Dourada S.A. EGP Volta Grande Enel Cien S.A. Transportadora de Energía S.A. Enel Distribución Ceará S.A. Enel Distribución Rio S.A. Enel Distribución Goiás S.A. Enel X Brasil S.A. Enel Distribuicao Sao Paulo S.A. Grupo Enel Brasil Emgesa S.A. E.S.P. S.A. Enel Perú, S.A.C. Enel Generación Perú S.A.A. Chinango S.A.C. Enel Generación Piura S.A. Enel Distribución Perú S.A.A. Grupo Enel Perú Compañía de Transmisión del Mercosur S.A. Compañía Distribuidora y Comercializadora de Energía Financial Statements Consolidated Consolidated Separate Consolidated Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Consolidated Separate Consolidated Consolidated 12-31-2020 Non-Current Assets 65,563 253,484 268,572 Total Assets 105,995 349,805 360,013 1,442,360 1,716,529 Current Liabilities Non- Current Liabilities Total Liabilities and Equity Current Assets 40,432 96,321 91,441 274,169 12,882 97,880 312,760 567,492 76,390 584,030 31,525 31,496 2,554 2,144 575,851 705,578 566,168 19,617 1,515,162 4,143,213 353,946 499,983 34,757 315,244 8,892 60,425 191,178 546,260 Current Assets 43,219 113,909 101,114 284,126 23,432 105,726 326,191 371,174 119,719 213,201 42,230 113,996 6,856 4,914 629,655 722,394 665,187 17,886 1,701,300 4,211,380 251,413 363,838 37,589 361,697 6,346 75,118 153,382 551,844 1,263 172,641 841,974 4,484,221 133,672 130,285 274,019 141,069 10,089 11,705 1,322,709 1,588,563 2,032,002 22,477 5,198,704 11,396,553 2,420,483 1,973,507 1,288,805 880,207 131,158 164,399 1,263,496 2,382,886 Assets 87,644 270,423 315,842 1,456,918 1,551 256,881 927,948 5,186,673 193,438 98,107 345,708 151,707 701 3,924 1,624,665 1,962,608 2,355,246 15,089 6,062,310 13,471,236 2,524,074 1,842,861 1,403,189 974,784 153,370 180,365 1,305,567 2,562,083 14,145 270,521 1,154,734 5,051,713 210,062 714,315 305,544 172,565 12,643 13,849 1,898,560 2,294,141 2,598,170 42,094 6,713,866 15,539,766 2,774,429 2,473,490 1,323,562 1,195,451 140,050 224,824 1,454,674 2,929,146 130,863 384,332 416,956 1,741,044 24,983 362,607 1,254,139 5,557,847 313,157 311,308 387,938 265,703 7,557 8,838 2,254,320 2,685,002 3,020,433 32,975 7,763,610 17,682,616 2,775,487 2,206,699 1,440,778 1,336,481 159,716 255,483 1,458,949 3,113,927 1,293 96,132 30,857 591,523 10,573 10,749 124,270 344,060 52,283 563,242 31,433 17,527 10,443 8,490 589,631 574,409 925,334 20,560 1,614,149 4,211,671 570,718 640,774 180,490 191,039 7,061 58,135 249,068 627,532 2,152 112,412 75,003 509,223 21,486 52,678 185,096 145,721 108,806 193,295 29,751 13,358 50,954 52,590 525,921 910,507 795,562 13,676 1,474,482 3,919,122 387,804 545,689 41,359 172,150 6,349 64,559 272,268 482,477 - 74,375 43,537 415,191 - 28,575 115,750 225,338 19,535 20,520 138,557 407 - 482 651,669 1,011,309 517,983 583 3,852,132 6,169,465 697,179 840,051 10,990 208,495 26,392 24,746 471,377 734,466 105,047 56,983 429,766 - - 52,732 151,167 376,140 737 3,280 185,505 16,240 8,030 9,207 902,000 830,069 903,997 307 4,310,495 7,528,800 943,882 704,527 10,868 259,367 38,766 33,669 467,924 805,168 Equity 104,702 179,298 285,619 709,815 3,572 231,197 914,714 4,482,315 138,244 130,553 135,554 154,631 2,200 4,877 657,260 708,423 1,154,853 20,951 1,247,585 5,158,630 1,506,532 992,665 1,132,082 795,917 106,597 141,943 734,229 1,567,148 Equity 128,711 166,873 284,970 802,055 3,497 257,197 917,876 203,614 114,733 172,682 236,105 (51,427) (52,959) 5,035,986 826,399 944,426 1,320,874 18,992 1,978,633 6,234,694 1,443,801 956,483 1,388,551 904,964 114,601 157,255 718,757 1,826,282 105,995 349,805 360,013 1,716,529 14,145 270,521 1,154,734 5,051,713 210,062 714,315 305,544 172,565 12,643 13,849 1,898,560 2,294,141 2,598,170 42,094 6,713,866 15,539,766 2,774,429 2,473,490 1,323,562 1,195,451 140,050 224,824 1,454,674 2,929,146 130,863 384,332 416,956 1,741,044 24,983 362,607 1,254,139 5,557,847 313,157 311,308 387,938 265,703 7,557 8,838 2,254,320 2,685,002 3,020,433 32,975 7,763,610 17,682,616 2,775,487 2,206,699 1,440,778 1,336,481 159,716 255,483 1,458,949 3,113,927 IN THOUSANDS OF U.S. DOLLARS – THUS$ 12-31-2019 Financial Statements Non-Current Total Assets Current Liabilities Non- Current Liabilities Total Liabilities and Equity Raw Materials and Consumables Used (600) (4,963) (4,543) (530,338) Contribution Margin (600) 107,968 43,962 270,891 (189) (10,025) (11,572) (139) (118,673) (666,295) (10,548) (83,694) - - (835,325) (869,354) (1,026,859) (4,454) (2,206,107) (5,450,909) (412,530) (886,155) - (140,350) (4,496) (23,435) (598,157) (621,907) Raw Materials and Consumables Used - (68,969) (5,957) (773,693) (950) (54,326) (74,927) (85) (183,394) (394,776) (42,895) (967) - - (991,979) (1,029,220) (1,100,077) (6,434) (2,699,108) (5,906,735) (465,768) (962,174) - (178,102) (5,081) (27,861) (619,181) (676,173) 2,897 56,309 149,521 363 68,554 145,980 51,850 (30,989) 45,439 37,973 306,557 351,238 365,543 8,903 774,002 2,130,126 746,604 660,808 - 268,254 36,504 40,439 288,506 622,087 Contribution Margin - 144,637 65,850 573,195 6,547 92,632 210,350 892 126,131 99,527 63,897 69,328 1,142 1,112 381,223 485,616 444,822 12,925 1,021,674 2,704,411 781,221 703,144 11 300,053 39,949 54,294 331,169 706,768 Revenue - 112,931 48,505 801,229 3,086 66,334 161,093 502 187,227 812,275 62,398 52,705 45,439 37,973 1,141,882 1,220,592 1,392,402 13,357 2,980,109 7,581,035 1,159,134 1,546,963 - 408,604 41,000 63,874 886,663 1,243,994 Revenue - 213,606 71,807 1,346,888 7,497 146,958 285,277 977 309,525 494,303 106,792 70,295 1,142 1,112 1,373,202 1,514,836 1,544,899 19,359 3,720,782 8,611,146 1,246,989 1,665,318 11 478,155 45,030 82,155 950,350 1,382,941 Gross Operating Income (2,459) 60,965 35,964 49,912 706 42,590 92,860 (41,809) 61,986 134,715 48,505 (37,406) 44,911 37,284 167,515 199,503 167,630 (3,705) 552,367 1,337,914 673,446 506,794 (215) 210,702 31,273 30,016 213,898 475,905 Gross Operating Income (463) 100,244 58,055 307,066 3,599 81,806 157,774 (57,320) 114,170 85,746 59,632 61,376 789 601 224,266 299,779 220,030 (1,373) 638,496 1,645,516 710,320 556,513 (1,155) 243,359 34,113 44,074 257,473 561,494 12-31-2020 Financial Results 11,264 (9,445) 37,910 22,605 (130) 3,472 61,778 (127,544) (521) (6,103) (11,785) 23,435 (17,275) (13,356) (4,767) (46,093) (41,127) (2,009) (76,312) (321,390) (70,522) (49,171) (6,072) 10,361 (87) (4,873) (25,042) (26,007) Income Before Taxes 12,146 9,497 62,211 (45,636) 284 17,968 71,522 168,090 50,655 123,498 36,700 (21,612) 27,197 22,450 70,014 16,145 42,806 (8,720) 257,148 454,162 536,449 325,977 156,138 186,817 27,232 17,249 116,427 317,029 12-31-2019 Financial Results 8,963 22,628 59,477 54,470 (92) 12,036 112,784 (85,784) 13,389 (100) (13,583) 19,722 (10,469) (10,288) (18,246) (55,984) (59,708) (311) (100,835) (356,940) (81,785) (58,397) (1,473) (4,886) (723) (317) (22,938) (30,553) Income Before Taxes 39,714 82,582 103,800 265,560 3,229 63,132 299,022 88,858 113,329 78,965 46,024 69,320 (10,999) (11,212) 122,937 109,105 (36,744) (4,988) 277,756 574,154 555,672 372,680 127,289 200,977 29,145 32,595 184,153 413,480 Operating Income (2,459) 18,811 21,800 (68,276) 414 14,445 36,542 (42,724) 51,176 129,601 48,484 (45,046) 44,472 35,806 74,542 62,080 83,459 (6,711) 333,460 774,682 606,868 375,127 (215) 162,140 27,319 18,512 141,464 339,421 Operating Income (463) 59,860 42,906 211,031 3,321 50,775 102,242 (58,076) 99,940 79,065 59,607 49,598 (530) (923) 140,695 163,829 22,568 (4,677) 378,591 928,952 637,221 431,004 (1,155) 191,690 29,868 32,902 196,436 433,368 Income Taxes 874 7,928 (9,332) (22,866) (103) (13,426) 1,130 36,441 (19,628) (41,504) (12,486) 7,275 (996) 801 (18,464) (5,706) (16,729) 973 (77,974) (148,157) (188,883) (97,881) - (42,052) (8,152) (5,852) (38,488) (91,896) Income Taxes (2,453) (24,642) (21,770) (76,548) (1,295) (1,007) (54,044) 15,025 (36,130) (25,671) (15,173) (39,773) 296 333 (19,875) (37,009) 11,462 539 460,335 314,359 (180,207) (122,066) (8) (56,340) (8,685) (9,275) (55,649) (125,187) Other Comprehensive Income (37,029) (47,631) (66,592) (230,171) Total Comprehensive Income (24,009) (30,206) (13,713) (298,673) Profit (Loss) 13,020 17,425 52,879 (68,502) 181 4,542 72,652 204,531 31,027 81,994 24,214 (14,337) 26,201 23,251 51,550 10,439 26,077 (7,747) 179,174 306,005 347,566 228,096 156,138 144,765 19,080 11,397 77,939 225,133 (1,006) (68,182) (258,557) (1,088,424) (31,881) (15,502) (32,034) (48,724) 14,795 15,236 (178,829) (229,670) (306,258) (4,323) (677,886) (1,678,028) (19,348) (14,970) (96,339) (66,777) (8,334) (12,361) (62,468) (246,279) (825) (63,640) (185,905) (883,893) (854) 66,492 (7,820) (63,061) 40,996 38,487 (127,279) (219,231) (280,181) (12,070) (498,712) (1,372,023) 328,218 213,126 59,799 77,988 10,746 (964) 15,471 (21,146) Other Comprehensive Income (53,938) (41,288) (70,096) (237,185) (600) (74,649) (270,493) (149,216) (5,465) 2,285 (844) (4,600) 15,634 16,154 (26,723) (46,182) (59,597) (679) (412,571) (559,512) 7,209 Total Comprehensive Income (16,677) 16,652 11,934 (48,173) 1,334 (12,524) (25,515) (45,333) 71,734 55,579 30,007 24,947 4,931 5,275 76,339 25,914 (84,879) (5,128) 325,520 329,001 382,674 (615) 27,105 18,483 2,791 2,948 13,065 64,392 249,999 154,386 163,120 23,251 26,268 141,569 352,685 Profit (Loss) 37,261 57,940 82,030 189,012 1,934 62,125 244,978 103,883 77,199 53,294 30,851 29,547 (10,703) (10,879) 103,062 72,096 (25,282) (4,449) 738,091 888,513 375,465 250,614 127,281 144,637 20,460 23,320 128,504 288,293 385 Annual Report Enel Américas 2020Raw Materials and Consumables Contribution Margin Gross Operating Income Operating Income 12-31-2018 Income Before Other Total Comprehensive Comprehensive Profit (Loss) Revenue - 162,894 67,134 1,189,950 4,738 94,769 229,458 174 211,536 540,344 81,939 82,608 1,193 1,140 1,410,602 1,510,676 1,541,938 17,882 2,459,201 7,492,092 1,259,471 - 480,540 44,180 78,012 912,950 1,505,635 Used - (15,271) (4,675) (729,223) (305) (20,986) (19,945) (96) (207,475) (417,506) (10,644) (1,626) - - (1,037,015) (1,026,864) (1,106,151) (8,136) (1,914,222) (5,366,693) (478,264) - (163,879) (5,215) (25,883) (610,701) (798,330) - 147,623 62,459 460,727 4,433 73,783 209,513 78 4,061 122,838 71,295 80,982 1,193 1,140 373,587 483,812 435,787 9,746 544,979 2,125,399 781,207 - 316,661 38,965 52,129 302,249 707,305 (618) 103,430 53,087 179,203 1,357 58,725 155,467 (46,334) (6,852) 109,049 68,654 72,831 716 591 213,754 294,177 254,481 (559) 243,789 1,201,286 707,149 522,969 337 257,625 33,910 42,112 232,137 564,020 (618) 89,235 32,994 77,990 1,083 33,999 121,179 (46,374) (16,483) 102,351 68,653 56,219 (650) (986) 140,035 172,577 157,911 (1,412) 137,736 766,565 633,075 389,002 337 209,490 29,643 30,028 175,848 443,246 1,713,801 (1,032,452) 681,349 Financial Results 2,812 19,250 106,969 127,247 (2,456) 35,743 140,459 (119,900) (5,857) 7,959 (15,031) 31,686 (21,535) (21,519) (17,507) (96,634) (51,253) (169) (98,509) (435,467) (101,981) (57,795) (4,852) 13,325 (255) (4,368) (22,150) (18,583) Taxes 3,657 108,963 141,617 205,078 (1,370) 69,850 307,883 (106,575) (22,340) 110,311 53,622 87,905 (22,185) (22,506) 122,528 75,943 107,044 (1,581) 39,227 331,484 531,118 331,372 185,519 263,975 29,388 25,685 153,693 451,681 Income Taxes (669) (17,345) (51,466) (101,101) (408) (29,790) (72,221) 44,864 7,309 (37,719) (18,732) (29,729) 44 (176) (22,092) (27,646) 318,307 394 (17,209) 217,615 (185,554) (125,242) - (69,105) (8,562) (8,003) (49,024) (134,059) 2,988 91,618 90,151 103,977 (1,778) 40,060 235,662 (61,711) (15,031) 72,592 34,890 58,176 (22,141) (22,682) 100,436 48,297 425,351 (1,187) 22,018 549,099 345,564 206,130 185,519 194,870 20,826 17,682 104,669 317,622 Income (138,136) (43,235) (130,515) (347,881) (571) (104,651) (355,051) (441,136) (25,888) (18,168) (30,953) (40,853) 13,101 13,664 (128,063) (152,089) (199,597) (2,104) (202,092) (689,804) (117,250) (81,177) (56,062) (35,507) (4,445) (6,155) (25,666) (127,835) Income (135,148) 48,383 (40,364) (243,904) (2,349) (64,591) (119,389) (502,847) (40,919) 54,424 3,937 17,323 (9,040) (9,018) (27,627) (103,792) 225,754 (3,291) (180,074) (140,705) 228,314 124,953 129,457 159,363 16,381 11,527 79,003 189,787 IN THOUSANDS OF U.S. DOLLARS – THUS$ 12-31-2018 Enel Argentina S.A. Enel Generación Costanera S.A. Enel Generación El Chocón S.A. Empresa Distribuidora Sur S.A. Enel Trading Argentina S.R.L Dock Sud S.A. Grupo Enel Argentina Enel Brasil S.A. Enel Generación Fortaleza S.A. EGP Cachoeira Dourada S.A. EGP Volta Grande Enel Cien S.A. Compañía de Transmisión del Mercosur S.A. Transportadora de Energía S.A. Enel Distribución Ceará S.A. Enel Distribución Rio S.A. Enel Distribución Goiás S.A. Enel X Brasil S.A. Enel Distribuicao Sao Paulo S.A. Grupo Enel Brasil Emgesa S.A. E.S.P. Compañía Distribuidora y Comercializadora de Energía S.A. Enel Perú, S.A.C. Enel Generación Perú S.A.A. Chinango S.A.C. Enel Generación Piura S.A. Enel Distribución Perú S.A.A. Grupo Enel Perú Financial Statements Separate Separate Separate Separate Separate Separate Consolidated Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Consolidated Separate Separate Separate Separate Separate Separate Separate Consolidated Current Assets 6,657 132,613 95,054 312,128 14,550 55,921 263,345 1,681,474 140,483 301,315 94,170 120,897 9,097 6,912 538,216 611,450 694,885 14,153 1,535,494 4,112,113 336,791 414,711 36,807 333,468 5,798 85,080 112,287 488,824 Non-Current Assets 139,508 267,952 370,645 1,381,972 1,008 263,659 916,274 3,892,112 189,912 103,975 355,666 183,601 2,196 5,755 1,209,995 1,964,754 2,478,860 9,180 4,426,898 11,587,158 2,511,365 1,686,783 1,376,103 914,287 137,059 175,196 1,210,429 2,401,685 Total Assets 146,165 400,565 465,699 1,694,100 15,558 319,580 1,179,619 5,573,586 330,395 405,290 449,836 304,498 11,293 12,667 1,748,211 2,576,204 3,173,745 23,333 5,962,392 15,699,271 2,848,156 2,101,494 1,412,910 1,247,755 142,857 260,276 1,322,716 2,890,509 Current Liabilities 776 136,446 82,599 710,707 13,940 63,756 221,534 2,720,641 123,850 244,418 274,015 9,403 50,940 50,780 517,761 865,349 613,692 5,512 1,438,355 6,524,502 510,844 650,760 69,295 169,579 7,946 51,046 268,883 490,068 Non- Current Liabilities - 99,309 85,399 347,653 - 55,240 182,169 225,312 60,960 3,075 - 18,424 2,493 5,431 440,495 781,211 1,154,300 42 2,871,158 5,555,695 1,032,101 598,455 10,460 234,383 25,562 68,377 431,856 770,021 Equity 145,389 164,810 297,701 635,740 1,618 200,584 775,916 2,627,633 145,585 157,797 175,821 276,671 (42,140) (43,544) 789,955 929,644 1,405,753 17,779 1,652,879 3,619,074 1,305,211 852,279 1,333,155 843,793 109,349 140,853 621,977 1,630,420 Total Liabilities and Equity 146,165 400,565 465,699 1,694,100 15,558 319,580 1,179,619 5,573,586 330,395 405,290 449,836 304,498 11,293 12,667 1,748,211 2,576,204 3,173,745 23,333 5,962,392 15,699,271 2,848,156 2,101,494 1,412,910 1,247,755 142,857 260,276 1,322,716 2,890,509 NOTE 40. Subsequent events • January 17, 2021 was the legal deadline given to the dissenting shareholders of Enel Américas S.A. to exercise their statutory merger dissenters’ withdrawal rights in connection with the merger by incorporation of EGP Américas S.p.A. into Enel Américas S.A. (the “Merger”), approved by the Company’s Extraordinary Shareholders’ Meeting held on December 18, 2020 (the “Meeting”). During this 30-day period, dissenting shareholders representing a total of 1,787,514 of the Company's shares exercised their withdrawal rights, equivalent to 0.002% of the total shares. In accordance with the applicable legislation and, in particular, Official Letter No. 32,435 issued by the CMF on November 7, 2017, the price of said shares was paid by Enel Américas on the date on which the terms and conditions of the Merger approved by the Meeting were satisfied. The foregoing was be communicated in a timely manner as an essential event of the Company. As a consequence, one of the conditions precedent established for the Merger was thereby fulfilled, that is, that the withdrawal rights duly exercised by the dissenting shareholders of Enel Américas as a result of the Merger did not surpass 10% of the Company's issued shares with voting rights. • On January 29, 2021, Enel Américas, as the controlling shareholder of its Colombian subsidiaries Emgesa S.A. ESP and Codensa S.A. ESP entered into a new investment framework agreement with Grupo Energía de Bogotá SA ESP (GEB), its partner in those subsidiaries. This new investment framework agreement, which will only go into effect upon fulfillment of certain suspensive conditions precedent upon obtaining and obtainment of the corporate authorizations required by both partners, looks to govern the future relations between Enel Américas and GEB as shareholders. Among the main agreements reached, this new framework agreement will allow the renewable business to be incorporated among its joint investments, define the new corporate governance rules that are better aligned with the new objectives and opportunities of this new phase, and allow parties to propose settlement agreements for the existing cases between the parties under arbitration. 386386 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information IN THOUSANDS OF U.S. DOLLARS – THUS$ Compañía de Transmisión del Mercosur S.A. Enel Argentina S.A. Enel Generación Costanera S.A. Enel Generación El Chocón S.A. Empresa Distribuidora Sur S.A. Enel Trading Argentina S.R.L Dock Sud S.A. Grupo Enel Argentina Enel Brasil S.A. Enel Generación Fortaleza S.A. EGP Cachoeira Dourada S.A. EGP Volta Grande Enel Cien S.A. Transportadora de Energía S.A. Enel Distribución Ceará S.A. Enel Distribución Rio S.A. Enel Distribución Goiás S.A. Enel X Brasil S.A. Enel Distribuicao Sao Paulo S.A. Grupo Enel Brasil Emgesa S.A. E.S.P. S.A. Enel Perú, S.A.C. Enel Generación Perú S.A.A. Chinango S.A.C. Enel Generación Piura S.A. Enel Distribución Perú S.A.A. Grupo Enel Perú Compañía Distribuidora y Comercializadora de Energía Financial Statements Consolidated Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Separate Consolidated Separate Consolidated Current Liabilities Non- Current Liabilities Total Liabilities and Equity 12-31-2018 Non-Current Assets 139,508 267,952 370,645 Total Assets 146,165 400,565 465,699 1,381,972 1,694,100 1,008 263,659 916,274 3,892,112 189,912 103,975 355,666 183,601 2,196 5,755 1,209,995 1,964,754 2,478,860 9,180 4,426,898 11,587,158 2,511,365 1,686,783 1,376,103 914,287 137,059 175,196 1,210,429 2,401,685 15,558 319,580 1,179,619 5,573,586 330,395 405,290 449,836 304,498 11,293 12,667 1,748,211 2,576,204 3,173,745 23,333 5,962,392 15,699,271 2,848,156 2,101,494 1,412,910 1,247,755 142,857 260,276 1,322,716 2,890,509 776 136,446 82,599 710,707 13,940 63,756 221,534 2,720,641 123,850 244,418 274,015 9,403 50,940 50,780 517,761 865,349 613,692 5,512 1,438,355 6,524,502 510,844 650,760 69,295 169,579 7,946 51,046 268,883 490,068 99,309 85,399 347,653 - - 55,240 182,169 225,312 60,960 3,075 - 18,424 2,493 5,431 440,495 781,211 1,154,300 42 2,871,158 5,555,695 1,032,101 598,455 10,460 234,383 25,562 68,377 431,856 770,021 Current Assets 6,657 132,613 95,054 312,128 14,550 55,921 263,345 1,681,474 140,483 301,315 94,170 120,897 9,097 6,912 538,216 611,450 694,885 14,153 1,535,494 4,112,113 336,791 414,711 36,807 333,468 5,798 85,080 112,287 488,824 Equity 145,389 164,810 297,701 635,740 1,618 200,584 775,916 2,627,633 145,585 157,797 175,821 276,671 (42,140) (43,544) 789,955 929,644 1,405,753 17,779 1,652,879 3,619,074 1,305,211 852,279 1,333,155 843,793 109,349 140,853 621,977 1,630,420 146,165 400,565 465,699 1,694,100 15,558 319,580 1,179,619 5,573,586 330,395 405,290 449,836 304,498 11,293 12,667 1,748,211 2,576,204 3,173,745 23,333 5,962,392 15,699,271 2,848,156 2,101,494 1,412,910 1,247,755 142,857 260,276 1,322,716 2,890,509 Raw Materials and Consumables Used - (15,271) (4,675) (729,223) (305) (20,986) (19,945) (96) (207,475) (417,506) (10,644) (1,626) - - (1,037,015) (1,026,864) (1,106,151) (8,136) (1,914,222) (5,366,693) (478,264) (1,032,452) - (163,879) (5,215) (25,883) (610,701) (798,330) Revenue - 162,894 67,134 1,189,950 4,738 94,769 229,458 174 211,536 540,344 81,939 82,608 1,193 1,140 1,410,602 1,510,676 1,541,938 17,882 2,459,201 7,492,092 1,259,471 1,713,801 - 480,540 44,180 78,012 912,950 1,505,635 Contribution Margin - 147,623 62,459 460,727 4,433 73,783 209,513 78 4,061 122,838 71,295 80,982 1,193 1,140 373,587 483,812 435,787 9,746 544,979 2,125,399 781,207 681,349 - 316,661 38,965 52,129 302,249 707,305 Gross Operating Income (618) 103,430 53,087 179,203 1,357 58,725 155,467 (46,334) (6,852) 109,049 68,654 72,831 716 591 213,754 294,177 254,481 (559) 243,789 1,201,286 707,149 522,969 337 257,625 33,910 42,112 232,137 564,020 12-31-2018 Financial Results 2,812 19,250 106,969 127,247 (2,456) 35,743 140,459 (119,900) (5,857) 7,959 (15,031) 31,686 (21,535) (21,519) (17,507) (96,634) (51,253) (169) (98,509) (435,467) (101,981) (57,795) (4,852) 13,325 (255) (4,368) (22,150) (18,583) Income Before Taxes 3,657 108,963 141,617 205,078 (1,370) 69,850 307,883 (106,575) (22,340) 110,311 53,622 87,905 (22,185) (22,506) 122,528 75,943 107,044 (1,581) 39,227 331,484 531,118 331,372 185,519 263,975 29,388 25,685 153,693 451,681 Operating Income (618) 89,235 32,994 77,990 1,083 33,999 121,179 (46,374) (16,483) 102,351 68,653 56,219 (650) (986) 140,035 172,577 157,911 (1,412) 137,736 766,565 633,075 389,002 337 209,490 29,643 30,028 175,848 443,246 Income Taxes (669) (17,345) (51,466) (101,101) (408) (29,790) (72,221) 44,864 7,309 (37,719) (18,732) (29,729) 44 (176) (22,092) (27,646) 318,307 394 (17,209) 217,615 (185,554) (125,242) - (69,105) (8,562) (8,003) (49,024) (134,059) Other Comprehensive Income (138,136) (43,235) (130,515) (347,881) (571) (104,651) (355,051) (441,136) (25,888) (18,168) (30,953) (40,853) 13,101 13,664 (128,063) (152,089) (199,597) (2,104) (202,092) (689,804) (117,250) Total Comprehensive Income (135,148) 48,383 (40,364) (243,904) (2,349) (64,591) (119,389) (502,847) (40,919) 54,424 3,937 17,323 (9,040) (9,018) (27,627) (103,792) 225,754 (3,291) (180,074) (140,705) 228,314 (81,177) (56,062) (35,507) (4,445) (6,155) (25,666) (127,835) 124,953 129,457 159,363 16,381 11,527 79,003 189,787 Profit (Loss) 2,988 91,618 90,151 103,977 (1,778) 40,060 235,662 (61,711) (15,031) 72,592 34,890 58,176 (22,141) (22,682) 100,436 48,297 425,351 (1,187) 22,018 549,099 345,564 206,130 185,519 194,870 20,826 17,682 104,669 317,622 The financial effects of this agreement are not quantifiable to date. • With respect to the Merger process approved by the shareholders of Enel Américas at the Meeting, on February 1, 2021, Enel Américas acknowledged the completion of the international merger between the Italian company, Enel Rinnovabili S.r.l. and the Chilean company, EGP Américas SpA. For these purposes, the representatives of both companies granted a single public deed of declaration to certify full compliance with the formalities, requirements, and procedures applicable under Chilean and Italian laws for the completion of this international merger. By virtue of the above, EGP Américas SpA acquired all assets and liabilities of Enel Rinnovabili S.r.l, including business and non-conventional renewable energy generation assets developed and held by Enel Green Power S.p.A. in Central and South America (except Chile). Likewise, EGP Américas SpA obtained all consents and authorizations to be granted by certain banks in Brazil providing financing. With the completion of the abovementioned international merger and the obtainment of consent from banks in Brazil providing financing, this fulfilled other suspensive conditions precedent to the Merger approved by the Enel Américas’ shareholders at the Meeting. Between January 1, 2021 and the date of issuance of these consolidated financial statements, the Company has no knowledge of any financial or other events which significantly affect its financial position and results presented. 387 Annual Report Enel Américas 2020 APPENDIX 1 detail of assets and liabilities in foreign currency This appendix forms an integral part of these consolidated financial statements. The detail of assets and liabilities denominated in foreign currency is as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ ASSETS Current Assets Cash and cash equivalents Other current financial assets Other current non-financial assets Trade and other current receivables Current accounts receivable from related parties Inventories Current tax assets Total Current Assets Non-Current Assets Other non-current financial assets Other non-current non-financial assets Trade and other non-current receivables Non-current accounts receivable from related parties Investments accounted for using the equity method Intangible assets other than goodwill Goodwill Property, plant and equipment Investment property Right-of-use asset Deferred tax assets Total Non-Current Assets Total Assets IN THOUSANDS OF U.S. DOLLARS – THUS$ ASSETS Current Assets Cash and cash equivalents Other current financial assets Other current non-financial assets Trade and other current receivables Current accounts receivable from related parties Inventories Current tax assets Current assets other than assets or groups of assets for disposal classified as held for sale Total Current Assets Non-Current Assets Other non-current financial assets Other non-current non-financial assets Trade and other non-current receivables Non-current accounts receivable from related parties Investments accounted for using the equity method Intangible assets other than goodwill Goodwill Property, plant and equipment Investment property Right-of-use asset Deferred tax assets Total Non-Current Assets Total Assets 388388 UF Chilean Peso Dollar Euro Colombian Peso Peruvian Sol Argentine Peso Brazilian Real Other Currency Total 12-31-2020 12-31-2020 - - - - - - - - - - - - - - - - - 24 - 24 24 637 116 16,730 1,587 3,271 - 9,546 170,335 95 2,177 22,201 547 1,035 11,457 47 - 36 81 3,566 987 - 381,754 4,047 27,088 330,871 716 102,781 31 147,458 - 62,864 165,342 2,480 53,015 10,069 65,480 65,287 40,572 306,606 29 40,892 2,628 741,282 160,734 411,220 2,408,247 36,341 272,723 94,149 31,887 207,847 4,717 847,288 441,228 521,494 4,124,696 99 6,179,256 - 2,980 77 - - 244,126 - - - - - - - - - - - - 176 - - 192,057 3,057 436,359 - - - - - - - - - - - - 34,944 644,206 4,717 5,257,716 3,007,984 2,452,000 15,531,868 99 26,933,558 UF Chilean Peso Dollar Euro Colombian Peso Peruvian Sol Argentine Peso Brazilian Real Other Currency Total 12-31-2019 - - - - - - - - - - - - - - - - - - - - - - 142,875 114 3,811 839 2,552 - 9,146 - 672,694 1,522 14,021 20,699 1,209 3,095 - - 83 - - - 3,418 515 - - 159,337 713,240 4,016 557,285 433,282 515,240 4,198,854 - 6,581,254 - 3,125 126 - - - - 19 - - 1,469 4,739 3,139 - 79,475 - - - 524,511 222 - 19 - 607,366 - - - - - - - - - - - - 164,076 1,320,606 4,016 4,927,739 2,995,151 2,699,359 17,665,437 - 29,776,384 4,410,428 2,566,756 1,930,506 11,407,172 - 20,754,302 99 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 1,506,993 230,279 560,786 3,234,935 46,950 471,433 127,880 2,790,863 2,332,856 578,524 32 2,273 4,524,826 945,512 8,354,672 7,942 222,420 994,382 1,938,997 120,383 486,162 3,504,457 16,369 396,239 107,321 11,326 3,049,811 2,735,890 587,957 847 1,978 5,527,879 1,173,043 8,763,438 10,254 255,799 1,088,234 153 33,029 33,565 - - 135,881 18,264 4,158,620 - 19,639 11,277 55 23,092 - - - 70,955 184,037 2,128,830 - 159,534 253 25,461 898 24,410 32 2,273 61,160 24,603 1,762,799 - 124 28,746 - - 2,765,194 2,272,857 276,346 4,256,830 718,608 304,247 7,942 43,099 762,049 185,424 3,512 12,941 260,132 678 83,152 120 11,326 188,655 232 44,845 145,388 3,883 45,527 4,752 12-31-2019 49,848 - 33,746 385,814 237 27,480 18,115 699,418 115,003 376,798 2,691,585 4,392 236,470 75,188 - - - 171 21,844 42,546 - - 125,795 5,835 4,162,275 11,988 - - 16,760 65,292 - - - - - - 168,355 3 70 3,354 229,256 68 1,978 30,519 4,665 - 18 25,890 3,046,431 2,690,807 236,554 779 - 5,306,273 638,032 401,162 10,254 75,419 1,060,872 2,311,459 1,888,301 4,370,454 2,561,869 2,184,119 13,466,583 - 23,195,130 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationAPPENDIX 1 detail of assets and liabilities in foreign currency This appendix forms an integral part of these consolidated financial statements. The detail of assets and liabilities denominated in foreign currency is as follows: IN THOUSANDS OF U.S. DOLLARS – THUS$ ASSETS Current Assets Cash and cash equivalents Other current financial assets Other current non-financial assets Trade and other current receivables Current accounts receivable from related parties Inventories Current tax assets Total Current Assets Non-Current Assets Other non-current financial assets Other non-current non-financial assets Trade and other non-current receivables Non-current accounts receivable from related parties Investments accounted for using the equity method Intangible assets other than goodwill Goodwill Property, plant and equipment Investment property Right-of-use asset Deferred tax assets Total Non-Current Assets Total Assets ASSETS Current Assets IN THOUSANDS OF U.S. DOLLARS – THUS$ Cash and cash equivalents Other current financial assets Other current non-financial assets Trade and other current receivables Current accounts receivable from related parties Inventories Current tax assets Current assets other than assets or groups of assets for disposal classified as held for sale Total Current Assets Non-Current Assets Other non-current financial assets Other non-current non-financial assets Trade and other non-current receivables Non-current accounts receivable from related parties Investments accounted for using the equity method Intangible assets other than goodwill Goodwill Property, plant and equipment Investment property Right-of-use asset Deferred tax assets Total Non-Current Assets Total Assets 12-31-2020 637 116 16,730 1,587 3,271 - 9,546 170,335 95 2,177 22,201 547 1,035 11,457 2,980 77 244,126 - - - - - - - - - - - - - - - - - 176 192,057 3,057 436,359 142,875 114 3,811 839 2,552 9,146 - - 3,125 126 - - - - - - 19 1,469 4,739 672,694 1,522 14,021 20,699 1,209 3,095 - - 79,475 524,511 222 - - - - - 19 - 607,366 - 3,139 - - - - - - - - - - - - - - - - - 24 - 24 24 - - - - - - - - - - - - - - - - - - - - - - - 47 36 81 3,566 987 - - - - - - - - - - - - - 83 - - - 3,418 515 - - - - - - - - - - - - - - UF Chilean Peso Dollar Euro Colombian Peso Peruvian Sol Argentine Peso Brazilian Real Other Currency Total 12-31-2020 31,887 207,847 4,717 847,288 441,228 521,494 4,124,696 99 6,179,256 381,754 4,047 27,088 330,871 716 102,781 31 147,458 - 62,864 165,342 2,480 53,015 10,069 65,480 65,287 40,572 306,606 29 40,892 2,628 741,282 160,734 411,220 2,408,247 36,341 272,723 94,149 - - 99 - - - - 1,506,993 230,279 560,786 3,234,935 46,950 471,433 127,880 153 33,029 33,565 - - 135,881 18,264 4,158,620 - 19,639 11,277 55 23,092 - - - 70,955 184,037 2,128,830 - 159,534 253 25,461 898 24,410 32 2,273 61,160 24,603 1,762,799 - 124 28,746 2,765,194 2,272,857 276,346 - - 4,256,830 718,608 304,247 7,942 43,099 762,049 - - - - - - - - - - - 2,790,863 2,332,856 578,524 32 2,273 4,524,826 945,512 8,354,672 7,942 222,420 994,382 4,410,428 2,566,756 1,930,506 11,407,172 - 20,754,302 34,944 644,206 4,717 5,257,716 3,007,984 2,452,000 15,531,868 99 26,933,558 UF Chilean Peso Dollar Euro Colombian Peso Peruvian Sol Argentine Peso Brazilian Real Other Currency Total 12-31-2019 12-31-2019 185,424 3,512 12,941 260,132 678 83,152 120 11,326 188,655 232 44,845 145,388 3,883 45,527 4,752 49,848 - 33,746 385,814 237 27,480 18,115 699,418 115,003 376,798 2,691,585 4,392 236,470 75,188 - - - - - - - - - - - 1,938,997 120,383 486,162 3,504,457 16,369 396,239 107,321 11,326 159,337 713,240 4,016 557,285 433,282 515,240 4,198,854 - 6,581,254 171 21,844 42,546 - - 125,795 5,835 4,162,275 - 11,988 - - 16,760 - - - 65,292 - 2,311,459 - 168,355 3 70 3,354 229,256 68 1,978 30,519 4,665 1,888,301 - 18 25,890 3,046,431 2,690,807 236,554 779 - 5,306,273 638,032 401,162 10,254 75,419 1,060,872 - - - - - - - - - - - 3,049,811 2,735,890 587,957 847 1,978 5,527,879 1,173,043 8,763,438 10,254 255,799 1,088,234 4,370,454 2,561,869 2,184,119 13,466,583 - 23,195,130 164,076 1,320,606 4,016 4,927,739 2,995,151 2,699,359 17,665,437 - 29,776,384 389 Annual Report Enel Américas 2020IN THOUSANDS OF U.S. DOLLARS – THUS$ LIABILITIES Current Liabilities Other current financial liabilities Current lease liability Trade and other current payables Current accounts payable to related parties Other current provisions Current tax liabilities Other current non-financial liabilities Total Current Liabilities Non-Current Liabilities Other non-current financial liabilities Non-current lease liability Trade and other non-current payables Non-current accounts receivable from related parties Other long-term provisions Deferred tax liabilities Non-current provisions for employee benefits Other non-current non-financial liabilities UF Chilean Peso 12-31-2020 Dollar Euro Colombian Peso Peruvian Sol Argentine Peso Brazilian Real Other Currency Total 7,103 19 - - - - - - - 46,970 167,003 - - 369 789,559 20,470 206,653 152,956 44,308 - 11,908 - 17 12,519 236,546 - - - 453,666 4,792 471,331 2,652 40,176 110,724 31,914 7,122 214,342 1,225,854 249,082 1,115,255 483,522 629,432 3,352,485 128 7,277,222 3,611 - - - - - - - - - - - - 2,521 2,960 - 806,446 25,668 10,990 - - - 1,906 31,600 - 386 - 1,251,190 15,639 1,136 144,391 - - - - - - - - 78,504 208,618 124,248 19,707 Total Non-Current Liabilities 3,611 5,481 876,610 144,777 1,699,042 524,061 437,514 5,631,577 - 9,322,673 Total Liabilities 10,733 219,823 2,102,464 393,859 2,814,297 1,007,583 1,066,946 8,984,062 128 16,599,895 IN THOUSANDS OF U.S. DOLLARS – THUS$ LIABILITIES Current Liabilities Other current financial liabilities Current lease liability Trade and other current payables Current accounts payable to related parties Other current provisions Current tax liabilities Other current non-financial liabilities Liabilities associated with disposal groups held for sale Total Current Liabilities Non-Current Liabilities Other non-current financial liabilities Non-current lease liability Trade and other non-current payables Other long-term provisions Deferred tax liabilities Non-current provisions for employee benefits Other non-current non-financial liabilities UF Chilean Peso 12-31-2019 Dollar Euro Colombian Peso Peruvian Sol Argentine Peso Brazilian Real Other Currency Total 6,227 11 - - - - - - 1 - 62,073 6,273 561 - 189 - 594,317 33,751 205,848 211,872 45,458 - 4,445 - - 5 13,770 257,476 - - - - 169,525 6,004 433,753 1,832 38,297 108,167 27,521 3,791 6,238 69,097 1,095,691 271,251 788,890 330,007 596,394 3,578,225 139 6,735,932 9,766 8 - - - - - - - - - - 2,979 - 1,106,962 18,317 7 - - - 3,563 - - - - - - - 1,404,407 6,190 997 49,659 51,332 129,507 6,318 12-31-2020 373,125 15,685 2,643,452 36,145 77,843 33,986 172,249 36 78 517,715 177 45,167 44,383 21,876 - 45 86,559 1,372,100 35,516 1,962,061 19,760 286,936 13,920 30,294 714,757 40,031 1,476,884 30,228 12-31-2019 592,674 26,411 2,568,851 14,844 144,973 6,741 223,731 84 7 418,518 247 44,825 92,080 40,633 33 - - - - - 95 - - - - - - - - 1,825,130 51,495 4,093,576 597,122 220,425 222,870 266,604 3,837,706 91,070 2,061,475 144,391 833,900 612,953 1,624,217 116,961 117 - - - 4 - 18 1,408,407 81,644 3,920,045 494,511 286,052 220,727 320,755 - - - - 3,791 - 7 152,240 23,710 311,503 14,178 54,162 1,860,303 58,803 2,171,885 848,183 26,428 1,683,453 22,549 - - - - - - - 4,781,833 108,625 2,335,997 976,327 643,854 1,836,362 111,268 201,641 10,434 194,903 1,643 12,931 33,777 28,193 404,359 13,816 729 20,879 74,847 4,299 5,132 45,579 15,455 217,115 1,967 11,934 13,739 24,218 400,395 25,300 10,868 54,775 254,591 6,245 24,676 Total Non-Current Liabilities 9,774 2,979 1,128,849 - 1,648,410 776,850 555,800 6,671,604 - 10,794,266 Total Liabilities 16,012 72,076 2,224,540 271,251 2,437,300 1,106,857 1,152,194 10,249,829 139 17,530,198 APPENDIX 2 additional information official bulletin no. 715 Of february 3, 2012 This appendix forms an integral part of these consolidated financial statements. 390390 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationUF Chilean Peso Euro Colombian Peso Peruvian Sol Argentine Peso 12-31-2020 Brazilian Real Other Currency Total 201,641 10,434 194,903 1,643 12,931 33,777 28,193 36 78 517,715 177 45,167 44,383 21,876 373,125 15,685 2,643,452 36,145 77,843 33,986 172,249 - - 33 - - - 95 1,825,130 51,495 4,093,576 597,122 220,425 222,870 266,604 Total Current Liabilities 7,122 214,342 1,225,854 249,082 1,115,255 483,522 629,432 3,352,485 128 7,277,222 Total Non-Current Liabilities 3,611 5,481 876,610 144,777 1,699,042 524,061 437,514 5,631,577 - 9,322,673 Total Liabilities 10,733 219,823 2,102,464 393,859 2,814,297 1,007,583 1,066,946 8,984,062 128 16,599,895 UF Chilean Peso Euro Colombian Peso Peruvian Sol Argentine Peso 12-31-2019 Brazilian Real Other Currency Total 404,359 13,816 729 - 45 86,559 1,372,100 35,516 1,962,061 - - - 20,879 74,847 4,299 5,132 19,760 286,936 13,920 30,294 714,757 40,031 1,476,884 30,228 - - - - - - - - 3,837,706 91,070 2,061,475 144,391 833,900 612,953 1,624,217 116,961 45,579 15,455 217,115 1,967 11,934 13,739 24,218 84 7 418,518 247 44,825 92,080 40,633 592,674 26,411 2,568,851 14,844 144,973 6,741 223,731 - - 117 - 4 - 18 1,408,407 81,644 3,920,045 494,511 286,052 220,727 320,755 - - - - 3,791 6,238 69,097 1,095,691 271,251 788,890 330,007 596,394 3,578,225 139 6,735,932 400,395 25,300 10,868 54,775 254,591 6,245 24,676 - 7 152,240 23,710 311,503 14,178 54,162 1,860,303 58,803 2,171,885 848,183 26,428 1,683,453 22,549 - - - - - - - 4,781,833 108,625 2,335,997 976,327 643,854 1,836,362 111,268 Total Non-Current Liabilities 9,774 2,979 1,128,849 - 1,648,410 776,850 555,800 6,671,604 - 10,794,266 Total Liabilities 16,012 72,076 2,224,540 271,251 2,437,300 1,106,857 1,152,194 10,249,829 139 17,530,198 IN THOUSANDS OF U.S. DOLLARS – THUS$ LIABILITIES Current Liabilities Other current financial liabilities Current lease liability Trade and other current payables Current accounts payable to related parties Other current provisions Current tax liabilities Other current non-financial liabilities Non-Current Liabilities Other non-current financial liabilities Non-current lease liability Trade and other non-current payables Non-current accounts receivable from related parties Other long-term provisions Deferred tax liabilities Non-current provisions for employee benefits Other non-current non-financial liabilities IN THOUSANDS OF U.S. DOLLARS – THUS$ LIABILITIES Current Liabilities Other current financial liabilities Current lease liability Trade and other current payables Current accounts payable to related parties Other current provisions Current tax liabilities Other current non-financial liabilities Liabilities associated with disposal groups held for sale Total Current Liabilities Non-Current Liabilities Other non-current financial liabilities Non-current lease liability Trade and other non-current payables Other long-term provisions Deferred tax liabilities Non-current provisions for employee benefits Other non-current non-financial liabilities 12-31-2020 Dollar 789,559 20,470 206,653 152,956 44,308 - 11,908 806,446 25,668 10,990 - - - 1,906 31,600 46,970 167,003 369 - - - - - - - - - - 2,521 2,960 12-31-2019 Dollar 594,317 33,751 205,848 211,872 45,458 - 4,445 - 1 - 62,073 6,273 561 - 189 - - - - - - - 2,979 1,106,962 18,317 7 - - - 3,563 7,103 19 3,611 6,227 11 9,766 - - - - - - - - - - - - - - - - - - 8 - - - - - 12,519 236,546 - 17 - - - 453,666 4,792 471,331 2,652 40,176 110,724 31,914 386 - - 1,251,190 15,639 1,136 144,391 - - - - - 78,504 208,618 124,248 19,707 13,770 257,476 - 5 - - - - - - - - - - - 169,525 6,004 433,753 1,832 38,297 108,167 27,521 3,791 1,404,407 6,190 997 49,659 51,332 129,507 6,318 APPENDIX 2 additional information official bulletin no. 715 Of february 3, 2012 This appendix forms an integral part of these consolidated financial statements. 391 Annual Report Enel Américas 2020a) Portfolio stratification - Trade and other receivables by maturity: IN THOUSANDS OF U.S. DOLLARS – THUS$ Trade and other current receivables Trade receivables, gross Allowance for impairment Accounts receivable for finance lease Allowance for impairment Other receivables, gross Allowance for impairment Up-to-date portfolio 2,135,722 (19,775) 584 (16) 231,310 (5,487) 1 - 30 days in arrears 339,444 (4,191) 12-31-2020 31 - 60 days in arrears 124,134 (10,916) - - - - - - - - 61 - 90 days in arrears 117,062 (10,529) 91 - 120 days in arrears 45,692 (9,644) - - - - - - - - 121 - 150 days 151 - 180 days 181 - 210 days 211 - 250 days in arrears 42,814 (13,056) in arrears 35,756 (9,225) in arrears 64,407 (40,980) 12-31-2020 in arrears 30,798 (18,550) More than 251 days in arrears 757,223 (547,642) - - - - - - - - - - - - - - - - Total Current 3,693,052 (684,508) 584 (16) 231,310 (5,487) - - - - Total 2,342,338 335,253 113,218 106,533 36,048 29,758 26,531 23,427 12,248 209,581 3,234,935 578,524 IN THOUSANDS OF U.S. DOLLARS – THUS$ Trade and other current receivables Trade receivables, gross Allowance for impairment Other receivables, gross Allowance for impairment Up-to-date portfolio 1,634,722 (6,115) 1,024,368 (96,369) 1 - 30 days in arrears 386,618 (3,785) 12-31-2019 31 - 60 days in arrears 124,851 (7,314) 61 - 90 days in arrears 58,383 (6,936) 91 - 120 days in arrears 46,682 (7,352) - - - - - - - - 121 - 150 days 151 - 180 days 181 - 210 days 211 - 250 days in arrears 38,446 (8,294) - - in arrears 35,997 (10,028) - - in arrears 60,980 (40,989) - - 12-31-2019 in arrears 46,155 (25,360) More than 251 days in arrears 786,211 (526,414) - - - - Total Current 3,219,045 (642,587) 1,024,368 (96,369) Total 2,556,606 382,833 117,537 51,447 39,330 30,152 25,969 19,991 20,795 259,797 3,504,457 587,957 Total Non- Current 354,376 (65,015) 8,214 (214) 281,333 (170) Total Non- Current 122,428 (22,552) 494,790 (6,709) - By type of portfolio: IN THOUSANDS OF U.S. DOLLARS – THUS$ Time in Arrears Up-to-date 1 to 30 days 31 to 60 days 61 to 90 days 91 to 120 days 121 to 150 days 151 to 180 days 181 to 210 days 211 to 250 days More than 251 days Non-renegotiated portfolio Number of customers 9,945,761 9,176,101 3,701,107 2,534,180 1,724,446 1,523,287 1,139,659 775,377 504,524 13,507,750 Gross amount 2,211,900 314,733 108,544 106,748 35,933 33,667 27,439 58,020 23,907 670,403 12-31-2020 Renegotiated portfolio Total Gross Portfolio Number of customers 6,354,193 659,102 323,324 202,523 193,115 177,697 140,387 132,352 167,038 1,701,673 Gross amount 278,198 24,711 15,590 10,314 9,759 9,147 8,317 6,387 6,891 86,820 Number of customers 16,299,954 9,835,203 4,024,431 2,736,703 1,917,561 1,700,984 1,280,046 907,729 671,562 15,209,423 Gross amount 2,490,098 339,444 124,134 117,062 45,692 42,814 35,756 64,407 30,798 757,223 Total 44,532,192 3,591,294 10,051,404 456,134 54,583,596 4,047,428 IN THOUSANDS OF U.S. DOLLARS – THUS$ Time in Arrears Up-to-date 1 to 30 days 31 to 60 days 61 to 90 days 91 to 120 days 121 to 150 days 151 to 180 days 181 to 210 days 211 to 250 days More than 251 days Non-renegotiated portfolio Number of customers 10,442,984 10,554,688 2,891,196 1,646,411 1,298,837 Gross amount 1,570,017 367,028 113,544 47,895 36,572 1,071,803 1,178,308 844,830 586,763 12,673,241 29,595 28,208 53,458 38,692 702,719 12-31-2019 Renegotiated portfolio Total Gross Portfolio Number of customers 2,243,270 274,004 168,392 145,445 147,648 126,358 116,975 109,466 115,965 1,560,492 Gross amount 187,133 19,590 11,307 10,488 10,110 8,851 7,789 7,522 7,463 83,492 Number of customers 12,686,254 10,828,692 3,059,588 1,791,856 1,446,485 1,198,161 1,295,283 954,296 702,728 14,233,733 Gross amount 1,757,150 386,618 124,851 58,383 46,682 38,446 35,997 60,980 46,155 786,211 Total 43,189,061 2,987,728 5,008,015 353,745 48,197,076 3,341,473 392392 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Informationa) Portfolio stratification - Trade and other receivables by maturity: IN THOUSANDS OF U.S. DOLLARS – THUS$ Trade and other current receivables Trade receivables, gross Allowance for impairment Accounts receivable for finance lease Allowance for impairment Other receivables, gross Allowance for impairment IN THOUSANDS OF U.S. DOLLARS – THUS$ Trade and other current receivables Trade receivables, gross Allowance for impairment Other receivables, gross Allowance for impairment Up-to-date portfolio 2,135,722 (19,775) 584 (16) 231,310 (5,487) Up-to-date portfolio 1,634,722 (6,115) 1,024,368 (96,369) 1 - 30 days in arrears 339,444 (4,191) 12-31-2020 31 - 60 days in arrears 124,134 (10,916) - - - - - - - - 61 - 90 days 91 - 120 days in arrears 117,062 (10,529) in arrears 45,692 (9,644) - - - - - - - - 121 - 150 days in arrears 42,814 (13,056) 151 - 180 days in arrears 35,756 (9,225) 181 - 210 days in arrears 64,407 (40,980) 12-31-2020 211 - 250 days in arrears 30,798 (18,550) More than 251 days in arrears 757,223 (547,642) - - - - - - - - - - - - - - - - - - - - Total Current 3,693,052 (684,508) 584 (16) 231,310 (5,487) Total Non- Current 354,376 (65,015) 8,214 (214) 281,333 (170) Total 2,342,338 335,253 113,218 106,533 36,048 29,758 26,531 23,427 12,248 209,581 3,234,935 578,524 1 - 30 days in arrears 386,618 (3,785) 12-31-2019 31 - 60 days in arrears 124,851 (7,314) - - - - 61 - 90 days 91 - 120 days in arrears 58,383 (6,936) - - in arrears 46,682 (7,352) - - 121 - 150 days in arrears 38,446 (8,294) 151 - 180 days in arrears 35,997 (10,028) 181 - 210 days in arrears 60,980 (40,989) 12-31-2019 211 - 250 days in arrears 46,155 (25,360) More than 251 days in arrears 786,211 (526,414) - - - - - - - - - - Total Current 3,219,045 (642,587) 1,024,368 (96,369) Total Non- Current 122,428 (22,552) 494,790 (6,709) Total 2,556,606 382,833 117,537 51,447 39,330 30,152 25,969 19,991 20,795 259,797 3,504,457 587,957 b) Portfolio in default and in legal collection process. IN THOUSANDS OF U.S. DOLLARS – THUS$ Portfolio in Default and in Legal Collection Process Notes receivable in default Notes receivable in legal collection process (*) 2020 2019 Number of customers 1,218,370 13,661 Amount 252,488 54,986 Number of customers 608,351 10,027 Amount 90,500 44,603 Total 1,232,031 307,474 618,378 135,103 (*) Legal collections are included in the portfolio in arrears. c) Provisions and write-offs. IN THOUSANDS OF U.S. DOLLARS – THUS$ Provisions and write-offs Provision for non-renegotiated portfolio Provision for renegotiated portfolio Recoveries Total 12-31-2020 204,419 38,529 (576) 12-31-2019 107,628 52,617 (995) 242,372 159,250 d) Number and amount of operations. IN THOUSANDS OF U.S. DOLLARS – THUS$ Number and Amount of Transactions Allowance for impairment and recoveries: Number of transactions Amount of the transactions 12-31-2020 12-31-2019 Total detail by type of transaction Last Quarter Total detail by type of operation Year-to- date Total detail by type of transaction Last Quarter Total detail by type of operation Year-to- date 377,287 49,648 3,800,417 242,372 1,261,020 60,327 3,887,467 159,250 393 Annual Report Enel Américas 2020APPENDIX 2.1 supplementary information on trade receivables This appendix forms an integral part of these consolidated financial statements. a) Portfolio stratification - Trade receivables by time in arrears: IN THOUSANDS OF U.S. DOLLARS – THUS$ Trade receivables Trade receivables, Generation and Transmission - Large Clients - Institutional Clients - Other Allowance for impairment Unbilled services Billed services Trade receivables, Distribution - Mass-market Clients - Large Clients - Institutional Clients Allowance for impairment Unbilled services Billed services Total trade receivables, gross Total Allowance for impairment Total trade receivables, net Up-to-date portfolio 1 - 30 days in arrears 31 - 60 days in arrears 61 - 90 days in arrears 91 - 120 days in arrears 121 - 150 days in arrears 151 - 180 days 181 - 210 days 211 - 250 days More than 251 More than 365 in arrears in arrears in arrears days in arrears days in arrears Total Current Total Non- Current 12-31-2020 12-31-2020 570,481 76,662 55,544 438,275 (455) 514,703 55,778 1,565,241 1,069,469 374,227 121,545 (19,320) 506,230 1,059,011 2,135,722 (19,775) 2,115,947 20,280 20,098 - 182 (6) - 20,280 319,164 238,880 58,211 22,073 (4,185) 886 863 - 23 (3) - 886 123,248 90,411 20,058 12,779 (10,913) 43,848 3,946 - 39,902 - - 43,848 73,214 42,427 10,984 19,803 (10,529) 49 - - 49 (1) - 49 1 - - 1 - - 1 45,643 31,033 8,380 6,230 (9,643) 42,813 30,426 7,597 4,790 (13,056) 79 - - 79 - - 79 35,677 24,545 7,364 3,768 (9,225) 2,325 2,065 - 260 (307) - 2,325 62,082 47,689 10,669 3,724 (40,673) 288 288 - - - - 288 30,510 19,323 6,000 5,187 (18,550) 3,042 2,968 - 74 (2,968) - 3,042 91,245 61,763 20,894 8,588 (51,215) 2,665 643,944 - - 2,665 (2,456) - 2,665 106,602 55,544 481,798 (6,196) 514,703 129,241 660,271 438,879 142,121 79,271 (491,003) 3,049,108 2,094,845 666,505 287,758 (678,312) 29,555 29,536 - 19 (29,103) - 29,555 324,821 262,530 15,498 46,793 (35,912) - - 319,164 123,248 - 73,214 - 45,643 - 42,813 - 35,677 - 62,082 - 30,510 - - 91,245 660,271 506,230 2,542,878 - 324,821 339,444 (4,191) 335,253 124,134 (10,916) 113,218 117,062 (10,529) 106,533 45,692 (9,644) 36,048 42,814 (13,056) 29,758 35,756 (9,225) 26,531 64,407 (40,980) 23,427 30,798 (18,550) 12,248 94,287 (54,183) 40,104 662,936 (493,459) 169,477 3,693,052 (684,508) 3,008,544 354,376 (65,015) 289,361 394394 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationAPPENDIX 2.1 supplementary information on trade receivables This appendix forms an integral part of these consolidated financial statements. a) Portfolio stratification - Trade receivables by time in arrears: IN THOUSANDS OF U.S. DOLLARS – THUS$ Trade receivables Trade receivables, Generation and Transmission - Large Clients - Institutional Clients - Other Allowance for impairment Unbilled services Billed services Trade receivables, Distribution - Mass-market Clients - Large Clients - Institutional Clients Allowance for impairment Unbilled services Billed services Total trade receivables, gross Total Allowance for impairment Total trade receivables, net 570,481 76,662 55,544 438,275 (455) 514,703 55,778 1,565,241 1,069,469 374,227 121,545 (19,320) 506,230 1,059,011 2,135,722 (19,775) 2,115,947 Up-to-date portfolio 1 - 30 days in arrears 31 - 60 days 61 - 90 days 91 - 120 days 121 - 150 days in arrears in arrears in arrears in arrears 151 - 180 days in arrears 181 - 210 days in arrears 211 - 250 days in arrears 12-31-2020 12-31-2020 More than 251 days in arrears More than 365 days in arrears Total Current Total Non- Current 20,280 20,098 - 182 (6) - 20,280 319,164 238,880 58,211 22,073 (4,185) 886 863 - 23 (3) - 886 123,248 90,411 20,058 12,779 (10,913) 43,848 3,946 39,902 - - - 43,848 73,214 42,427 10,984 19,803 (10,529) 49 - - 49 (1) - 49 1 - - 1 - - 1 45,643 31,033 8,380 6,230 (9,643) 42,813 30,426 7,597 4,790 (13,056) 79 - - 79 - - 79 35,677 24,545 7,364 3,768 (9,225) 2,325 2,065 - 260 (307) - 2,325 62,082 47,689 10,669 3,724 (40,673) 288 - - 288 - - 288 30,510 19,323 6,000 5,187 (18,550) 3,042 2,968 - 74 (2,968) - 3,042 91,245 61,763 20,894 8,588 (51,215) 2,665 - - 2,665 (2,456) - 2,665 660,271 438,879 142,121 79,271 (491,003) 643,944 106,602 55,544 481,798 (6,196) 514,703 129,241 3,049,108 2,094,845 666,505 287,758 (678,312) 29,555 29,536 - 19 (29,103) - 29,555 324,821 262,530 15,498 46,793 (35,912) - - 319,164 123,248 - 73,214 - 45,643 - 42,813 - 35,677 - 62,082 - 30,510 - - 91,245 660,271 506,230 2,542,878 - 324,821 339,444 (4,191) 335,253 124,134 (10,916) 113,218 117,062 (10,529) 106,533 45,692 (9,644) 36,048 42,814 (13,056) 29,758 35,756 (9,225) 26,531 64,407 (40,980) 23,427 30,798 (18,550) 12,248 94,287 (54,183) 40,104 662,936 (493,459) 169,477 3,693,052 (684,508) 3,008,544 354,376 (65,015) 289,361 395 Annual Report Enel Américas 2020Since not all of our commercial databases in our Group’s different consolidated entities distinguish whether the final electricity service consumer is an individual or legal entity, the main management segmentation used by all consolidated entities to monitor and follow up on trade receivables is the following: - - - Mass-market customers Large customers Institutional customers IN THOUSANDS OF U.S. DOLLARS – THUS$ Trade receivables Trade receivables, Generation and Transmission - Large Clients - Institutional Clients - Other Allowance for impairment Unbilled services Billed services Trade receivables, Distribution - Mass-market Clients - Large Clients - Institutional Clients Allowance for impairment 12-31-2019 Up-to-date portfolio 343,351 88,188 138,566 116,597 5,124 212,248 131,103 1,291,371 721,018 415,100 155,253 (11,239) 1 - 30 days in arrears 31 - 60 days in arrears 61 - 90 days in arrears 91 - 120 days in arrears 121 - 150 days in arrears 151 - 180 days 181 - 210 days 211 - 250 days More than 251 More than 365 in arrears in arrears in arrears days in arrears days in arrears Total Current Total Non- Current 17,089 16,659 - 430 (16) - 17,089 369,529 258,671 76,194 34,664 (3,769) 8,196 7,975 - 221 (178) - 8,196 116,655 87,270 16,643 12,742 (7,136) 184 30 - 154 (30) - 184 58,199 39,214 8,992 9,993 (6,906) 856 42 - 814 (42) - 856 45,826 31,694 7,701 6,431 (7,310) 32 28 - 4 (28) - 32 38,414 25,209 5,947 7,258 (8,266) 47 42 - 5 (39) - 47 89 - - 89 - - 89 35,950 25,146 4,194 6,610 (9,989) 60,891 47,492 7,462 5,937 (40,989) 629 2 - 627 (2) - 629 45,526 31,098 5,329 9,099 (25,358) 6,354 2,973 - 3,381 (2,973) - 6,354 97,339 63,599 18,712 15,028 (54,280) 44,283 5 - 44,278 (11,586) - 44,283 638,235 451,530 118,248 68,457 (457,575) 421,110 115,944 138,566 166,600 (9,770) 212,248 208,862 2,797,935 1,781,941 684,522 331,472 (632,817) 90 9 - 81 - - 90 122,338 34,580 15,956 71,802 (22,552) Unbilled services Billed services 554,064 737,307 - - 369,529 116,655 - 58,199 - 45,826 - 38,414 - 35,950 - 60,891 - 45,526 - - 97,339 638,235 554,064 2,243,871 - 122,338 Total trade receivables, gross Total Allowance for impairment Total trade receivables, net 1,634,722 (6,115) 1,628,607 386,618 (3,785) 382,833 124,851 (7,314) 117,537 58,383 (6,936) 51,447 46,682 (7,352) 39,330 38,446 (8,294) 30,152 35,997 (10,028) 25,969 60,980 (40,989) 19,991 46,155 (25,360) 20,795 103,693 (57,253) 46,440 682,518 (469,161) 213,357 3,219,045 (642,587) 2,576,458 122,428 (22,552) 99,876 - By type of portfolio: IN THOUSANDS OF U.S. DOLLARS – THUS$ Type of Portfolio 12-31-2020 Up-to-date portfolio 1 - 30 days in arrears 31 - 60 days in arrears 61 - 90 days in arrears 91 - 120 days in arrears 121 - 150 days in arrears 151 - 180 days 181 - 210 days 211 - 250 days More than 251 More than 365 in arrears in arrears in arrears days in arrears days in arrears Total Current Total Non- Current GENERATION AND TRANSMISSION Non-renegotiated portfolio - Large Clients - Institutional Clients - Other Renegotiated portfolio - Large Clients - Institutional Clients - Other DISTRIBUTION Non-renegotiated portfolio - Mass-market Clients - Large Clients - Institutional Clients Renegotiated portfolio - Mass-market Clients - Large Clients - Institutional Clients 570,481 76,662 55,544 438,275 - - - - 1,444,504 979,330 349,489 115,685 120,737 90,140 24,737 5,860 20,280 20,098 - 182 - - - - 294,453 221,045 53,788 19,620 24,711 17,835 4,423 2,453 886 863 - 23 - - - - 107,658 79,769 17,629 10,260 15,590 10,642 2,429 2,519 43,848 3,946 - 39,902 - - - - 62,900 34,801 9,207 18,892 10,314 7,626 1,777 911 49 - - 49 - - - - 35,884 23,547 7,070 5,267 9,759 7,484 1,311 964 1 - - 1 - - - - 33,666 23,670 6,316 3,680 9,147 6,755 1,282 1,110 260 288 2,739 12-31-2020 5,707 2,968 - - - - - 664,696 443,333 147,615 73,748 86,820 57,309 15,400 14,111 288 - - - - - - 23,619 14,971 4,769 3,879 6,891 4,353 1,230 1,308 79 79 - - - - - - 27,360 19,382 5,195 2,783 8,317 5,164 2,169 984 2,325 2,065 - - - - - 55,695 43,181 9,579 2,935 6,387 4,508 1,090 789 - - - - - - - - - - - - - - - - 643,944 106,602 55,544 481,798 - - - - 2,750,435 1,883,029 610,657 256,749 298,673 211,816 55,848 31,009 628 - - 628 28,927 28,927 - - 196,287 191,559 4,512 216 128,534 99,922 8,561 20,051 Total gross portfolio 2,135,722 339,444 124,134 117,062 45,692 42,814 35,756 64,407 30,798 757,223 - 3,693,052 354,376 396396 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationSince not all of our commercial databases in our Group’s different consolidated entities distinguish whether the final electricity service consumer is an individual or legal entity, the main management segmentation used by all consolidated entities to monitor and follow up on trade receivables is the following: - - - Mass-market customers Large customers Institutional customers IN THOUSANDS OF U.S. DOLLARS – THUS$ Trade receivables Trade receivables, Generation and Transmission - Large Clients - Institutional Clients - Other Allowance for impairment Unbilled services Billed services - Mass-market Clients - Large Clients - Institutional Clients Allowance for impairment Unbilled services Billed services 12-31-2019 Up-to-date portfolio 343,351 88,188 138,566 116,597 5,124 212,248 131,103 721,018 415,100 155,253 (11,239) 554,064 737,307 Trade receivables, Distribution 1,291,371 - By type of portfolio: GENERATION AND TRANSMISSION Non-renegotiated portfolio - Large Clients - Institutional Clients - Other Renegotiated portfolio - Large Clients - Institutional Clients - Other DISTRIBUTION - Mass-market Clients - Large Clients - Institutional Clients Renegotiated portfolio - Mass-market Clients - Large Clients - Institutional Clients Non-renegotiated portfolio 1,444,504 1 - 30 days in arrears 31 - 60 days 61 - 90 days 91 - 120 days 121 - 150 days in arrears in arrears in arrears in arrears 151 - 180 days in arrears 181 - 210 days in arrears 211 - 250 days in arrears More than 251 days in arrears More than 365 days in arrears Total Current Total Non- Current 17,089 16,659 - 430 (16) - 17,089 369,529 258,671 76,194 34,664 (3,769) 8,196 7,975 - 221 (178) - 8,196 116,655 87,270 16,643 12,742 (7,136) 184 30 - 154 (30) - 184 58,199 39,214 8,992 9,993 (6,906) 856 42 - 814 (42) - 856 45,826 31,694 7,701 6,431 (7,310) 32 28 4 (28) - - 32 38,414 25,209 5,947 7,258 (8,266) 47 42 - 5 (39) - 47 89 - - 89 - - 89 35,950 25,146 4,194 6,610 (9,989) 60,891 47,492 7,462 5,937 (40,989) 629 2 - 627 (2) - 629 45,526 31,098 5,329 9,099 (25,358) 6,354 2,973 - 3,381 (2,973) - 6,354 97,339 63,599 18,712 15,028 (54,280) 44,283 5 - 44,278 (11,586) - 44,283 638,235 451,530 118,248 68,457 (457,575) 421,110 115,944 138,566 166,600 (9,770) 212,248 208,862 2,797,935 1,781,941 684,522 331,472 (632,817) 90 9 - 81 - - 90 122,338 34,580 15,956 71,802 (22,552) Total trade receivables, gross Total Allowance for impairment Total trade receivables, net 1,634,722 (6,115) 1,628,607 386,618 (3,785) 382,833 124,851 (7,314) 117,537 58,383 (6,936) 51,447 46,682 (7,352) 39,330 38,446 (8,294) 30,152 35,997 (10,028) 25,969 60,980 (40,989) 19,991 46,155 (25,360) 20,795 103,693 (57,253) 46,440 682,518 (469,161) 213,357 3,219,045 (642,587) 2,576,458 122,428 (22,552) 99,876 - - 369,529 116,655 - 58,199 - 45,826 - 38,414 - 35,950 - 60,891 - 45,526 - - 97,339 638,235 554,064 2,243,871 - 122,338 IN THOUSANDS OF U.S. DOLLARS – THUS$ Type of Portfolio 12-31-2020 Up-to-date portfolio 1 - 30 days in arrears 31 - 60 days 61 - 90 days 91 - 120 days 121 - 150 days in arrears in arrears in arrears in arrears 151 - 180 days in arrears 181 - 210 days in arrears 211 - 250 days in arrears 12-31-2020 More than 251 days in arrears More than 365 days in arrears Total Current Total Non- Current 570,481 76,662 55,544 438,275 - - - - 979,330 349,489 115,685 120,737 90,140 24,737 5,860 20,280 20,098 182 - - - - - 294,453 221,045 53,788 19,620 24,711 17,835 4,423 2,453 886 863 - 23 - - - - 107,658 79,769 17,629 10,260 15,590 10,642 2,429 2,519 43,848 3,946 39,902 - - - - - 62,900 34,801 9,207 18,892 10,314 7,626 1,777 911 49 49 - - - - - - 35,884 23,547 7,070 5,267 9,759 7,484 1,311 964 1 - - 1 - - - - 33,666 23,670 6,316 3,680 9,147 6,755 1,282 1,110 79 - - 79 - - - - 27,360 19,382 5,195 2,783 8,317 5,164 2,169 984 2,325 2,065 - 260 - - - - 55,695 43,181 9,579 2,935 6,387 4,508 1,090 789 288 - - 288 - - - - 23,619 14,971 4,769 3,879 6,891 4,353 1,230 1,308 5,707 2,968 - 2,739 - - - - 664,696 443,333 147,615 73,748 86,820 57,309 15,400 14,111 - - - - - - - - - - - - - - - - 643,944 106,602 55,544 481,798 - - - - 2,750,435 1,883,029 610,657 256,749 298,673 211,816 55,848 31,009 628 - - 628 28,927 28,927 - - 196,287 191,559 4,512 216 128,534 99,922 8,561 20,051 Total gross portfolio 2,135,722 339,444 124,134 117,062 45,692 42,814 35,756 64,407 30,798 757,223 - 3,693,052 354,376 397 Annual Report Enel Américas 2020IN THOUSANDS OF U.S. DOLLARS – THUS$ Type of Portfolio 12-31-2019 Up-to-date portfolio 1 - 30 days in arrears 31 - 60 days in arrears 61 - 90 days in arrears 91 - 120 days in arrears 121 - 150 days in arrears 151 - 180 days 181 - 210 days 211 - 250 days More than 251 More than 365 in arrears in arrears in arrears days in arrears days in arrears Total Current Total Non- Current GENERATION AND TRANSMISSION Non-renegotiated portfolio - Large Clients - Institutional Clients - Other Renegotiated portfolio - Large Clients - Institutional Clients - Other DISTRIBUTION Non-renegotiated portfolio - Mass-market Clients - Large Clients - Institutional Clients Renegotiated portfolio - Mass-market Clients - Large Clients - Institutional Clients 291,263 88,188 96,283 106,792 52,088 - 42,283 9,805 1,216,141 676,406 402,342 137,393 75,230 44,612 12,758 17,860 17,089 16,659 - 430 - - - - 349,939 244,837 73,848 31,254 19,590 13,834 2,346 3,410 8,196 7,975 - 221 - - - - 105,348 78,862 15,150 11,336 11,307 8,409 1,492 1,406 184 30 - 154 - - - - 47,711 32,485 7,146 8,080 10,488 6,730 1,845 1,913 856 42 - 814 - - - - 35,716 25,178 5,982 4,556 10,110 6,516 1,719 1,875 32 28 - 4 - - - - 29,563 19,480 4,874 5,209 8,851 5,730 1,072 2,049 47 41 - 6 - - - - 28,161 19,818 3,200 5,143 7,789 5,328 994 1,467 89 89 - - - - - - 53,369 42,643 6,532 4,194 7,522 4,849 930 1,743 12-31-2019 50,592 2,978 - 47,614 45 - - 45 652,127 460,446 124,871 66,810 83,447 54,682 12,089 16,676 629 627 2 - - - - - 38,063 26,041 4,586 7,436 7,463 5,055 744 1,664 - - - - - - - - - - - - - - - - 368,977 115,943 96,283 156,751 52,133 - 42,283 9,850 2,556,138 1,626,196 648,531 281,411 241,797 155,745 35,989 50,063 82 - - 82 8 8 - - 62,531 9,309 8,111 45,111 59,807 25,271 7,845 26,691 Total gross portfolio 1,634,722 386,618 124,851 58,383 46,682 38,446 35,997 60,980 46,155 786,211 - 3,219,045 122,428 APPENDIX 2.2 estimated sales and purchases of capacity and toll This appendix forms an integral part of these consolidated financial statements. IN THOUSANDS OF U.S. DOLLARS – THUS$ Country BALANCE Current accounts receivable from related parties Non-current accounts receivable from related parties Trade and other receivables, current Trade and other receivables, non-current Total Asset Estimate Current accounts payable to related parties Non-urrent accounts payable to related parties Trade and other payables, current Trade and other payables, non-current Total Liability Estimate IN THOUSANDS OF U.S. DOLLARS – THUS$ Country COLOMBIA PERU ARGENTINA BRAZIL TOTAL 12-31-2020 12-31-2019 12-31-2020 12-31-2019 12-31-2020 12-31-2019 12-31-2020 12-31-2019 12-31-2020 12-31-2019 Energy and capacity - - 61,067 78,187 139,254 677 - 30,139 - 30,816 Tolls - - - 11,961 11,961 - - 12,246 - 12,246 Energy and capacity - - 131,740 - 131,740 763 - 43,633 - 44,396 Tolls - - 8,820 - 8,820 - - 13,176 - 13,176 Energy and capacity - - 61,975 - 61,975 - - 52,233 - 52,233 Tolls - - 12,240 - 12,240 - - 9,763 - 9,763 Energy and capacity - - 62,526 - 62,526 - - 37,502 - 37,502 Tolls - - 12,538 - 12,538 - - 11,837 - 11,837 Energy and capacity Tolls Energy and capacity Tolls Energy and capacity 32,823 Energy and capacity 2,452 779,510 3,952 475,319 Tolls 19 - 3,971 - - - - Tolls 15 - 6,531 - - - Energy and capacity 32,823 - 971,272 78,187 - - Tolls 19 - 16,192 11,961 28,172 - - - Energy and capacity 2,452 - - - - 780,415 27,889 782,867 13,720 27,904 519 Tolls 15 - - - - - - - - 477,771 12,957 6,546 519 1,082,282 34,097 1,120,722 59,673 697,292 159,478 1,241,783 81,682 833,621 184,491 - - - - - - - - - - 812,333 33,420 - - - - 1,154,142 59,673 710,249 159,997 1,275,880 81,682 847,341 185,010 COLOMBIA PERU BRAZIL TOTAL 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 INCOME STATEMENT Energy sales Energy purchases Energy and capacity 129,017 28,552 Tolls 11,081 11,345 Energy and capacity 131,876 44,440 Tolls 8,830 13,189 Energy and capacity 64,115 54,038 Tolls 12,663 10,100 Energy and capacity 62,137 37,269 Tolls 12,459 11,763 Tolls - - Energy and capacity 817,439 1,167,098 Tolls 4,193 60,048 Energy and capacity 487,525 727,249 Tolls 6,814 163,126 Energy and capacity 1,078,725 1,288,374 Tolls 27,937 81,493 Energy and capacity 803,499 864,152 Tolls 28,103 188,078 - - - - - - 68,720 68,720 38,689 38,689 Energy and capacity 68,154 38,686 - - - - - - - - - - - - - - - - 110,830 110,830 55,194 55,194 ARGENTINA Tolls - - Energy and capacity 121,961 55,194 398398 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationIN THOUSANDS OF U.S. DOLLARS – THUS$ Type of Portfolio 12-31-2019 Up-to-date portfolio 1 - 30 days in arrears 31 - 60 days 61 - 90 days 91 - 120 days 121 - 150 days in arrears in arrears in arrears in arrears 151 - 180 days in arrears 181 - 210 days in arrears 211 - 250 days in arrears 12-31-2019 More than 251 days in arrears More than 365 days in arrears Total Current Total Non- Current 47 41 - 6 - - - - 28,161 19,818 3,200 5,143 7,789 5,328 994 1,467 89 - - 89 - - - - 53,369 42,643 6,532 4,194 7,522 4,849 930 1,743 629 2 - 627 - - - - 38,063 26,041 4,586 7,436 7,463 5,055 744 1,664 50,592 2,978 - 47,614 45 - - 45 652,127 460,446 124,871 66,810 83,447 54,682 12,089 16,676 - - - - - - - - - - - - - - - - 368,977 115,943 96,283 156,751 52,133 - 42,283 9,850 2,556,138 1,626,196 648,531 281,411 241,797 155,745 35,989 50,063 82 - - 82 8 8 - - 62,531 9,309 8,111 45,111 59,807 25,271 7,845 26,691 Total gross portfolio 1,634,722 386,618 124,851 58,383 46,682 38,446 35,997 60,980 46,155 786,211 - 3,219,045 122,428 GENERATION AND TRANSMISSION Non-renegotiated portfolio - Large Clients - Institutional Clients - Other Renegotiated portfolio - Large Clients - Institutional Clients - Other DISTRIBUTION - Mass-market Clients - Large Clients - Institutional Clients Renegotiated portfolio - Mass-market Clients - Large Clients - Institutional Clients 291,263 88,188 96,283 106,792 52,088 - 42,283 9,805 676,406 402,342 137,393 75,230 44,612 12,758 17,860 17,089 16,659 - 430 - - - - 349,939 244,837 73,848 31,254 19,590 13,834 2,346 3,410 8,196 7,975 - 221 - - - - 105,348 78,862 15,150 11,336 11,307 8,409 1,492 1,406 184 30 - 154 - - - - 47,711 32,485 7,146 8,080 10,488 6,730 1,845 1,913 856 42 - 814 - - - - 35,716 25,178 5,982 4,556 10,110 6,516 1,719 1,875 32 28 - 4 - - - - 29,563 19,480 4,874 5,209 8,851 5,730 1,072 2,049 Non-renegotiated portfolio 1,216,141 APPENDIX 2.2 estimated sales and purchases of capacity and toll This appendix forms an integral part of these consolidated financial statements. IN THOUSANDS OF U.S. DOLLARS – THUS$ Country BALANCE Current accounts receivable from related parties Non-current accounts receivable from related parties Trade and other receivables, current Trade and other receivables, non-current Total Asset Estimate Current accounts payable to related parties Non-urrent accounts payable to related parties Trade and other payables, current Trade and other payables, non-current Total Liability Estimate IN THOUSANDS OF U.S. DOLLARS – THUS$ Country INCOME STATEMENT Energy sales Energy purchases COLOMBIA PERU ARGENTINA BRAZIL TOTAL 12-31-2020 12-31-2019 12-31-2020 12-31-2019 12-31-2020 12-31-2019 12-31-2020 12-31-2019 12-31-2020 12-31-2019 Energy and capacity Tolls Energy and capacity Tolls Energy and capacity Tolls Energy and capacity Tolls 131,740 8,820 61,975 12,240 62,526 12,538 61,067 78,187 139,254 677 - - - - 11,961 11,961 - - - - - - - - - - - 131,740 763 - - - - - - - - - - - - - - - - - - - - - - - - 30,139 12,246 43,633 13,176 52,233 9,763 37,502 11,837 8,820 61,975 12,240 62,526 12,538 - - - - - - 30,816 12,246 44,396 13,176 52,233 9,763 37,502 11,837 Energy and capacity - - 68,720 - 68,720 - - 38,689 - 38,689 Tolls - - - - - - - - - - Energy and capacity - - 110,830 - 110,830 - - 55,194 - 55,194 Tolls - - - - - - - - - - Energy and capacity 32,823 - 779,510 - 812,333 33,420 - 1,120,722 - 1,154,142 Tolls 19 - 3,952 - 3,971 - - 59,673 - 59,673 Energy and capacity 2,452 - 475,319 - 477,771 12,957 - 697,292 - 710,249 Tolls 15 - 6,531 - 6,546 519 - 159,478 - 159,997 Energy and capacity 32,823 - 971,272 78,187 1,082,282 34,097 - 1,241,783 - 1,275,880 Tolls 19 - 16,192 11,961 28,172 - - 81,682 - 81,682 Energy and capacity 2,452 - 780,415 - 782,867 13,720 - 833,621 - 847,341 Tolls 15 - 27,889 - 27,904 519 - 184,491 - 185,010 COLOMBIA PERU ARGENTINA BRAZIL TOTAL 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 Energy and capacity 129,017 28,552 Tolls 11,081 11,345 Energy and capacity 131,876 44,440 Tolls 8,830 13,189 Energy and capacity 64,115 54,038 Tolls 12,663 10,100 Energy and capacity 62,137 37,269 Tolls 12,459 11,763 Energy and capacity 68,154 38,686 Tolls - - Energy and capacity 121,961 55,194 Tolls - - Energy and capacity 817,439 1,167,098 Tolls 4,193 60,048 Energy and capacity 487,525 727,249 Tolls 6,814 163,126 Energy and capacity 1,078,725 1,288,374 Tolls 27,937 81,493 Energy and capacity 803,499 864,152 Tolls 28,103 188,078 399 Annual Report Enel Américas 2020APPENDIX 3 detail of due dates of payments to suppliers This appendix forms an integral part of the Group’s financial statements. IN THOUSANDS OF U.S. DOLLARS – THUS$ Suppliers with Payments Up-to-Date Up to 30 days From 31 to 60 days From 61 to 90 days From 91 to 120 days From 121 to 365 days More than 365 days Total IN THOUSANDS OF U.S. DOLLARS – THUS$ Suppliers with Payments Overdue Up to 30 days From 31 to 60 days From 61 to 90 days From 91 to 120 days From 121 to 365 days More than 365 days Total 12-31-2020 12-31-2019 Goods 104,782 52,007 3,877 373 6,462 - Services 469,913 233,753 30,449 23,619 16,912 3,075 Other 1,321,209 96,755 15,620 124,617 19,770 111,587 Total 1,895,904 382,515 49,946 148,609 43,144 114,662 Goods 181,353 51,522 6,192 1,088 10,394 - Services 424,827 167,440 24,320 10,437 5,528 4,318 Other 1,108,119 83,664 3,071 3,375 98,859 167,190 Total 1,714,299 302,626 33,583 14,900 114,781 171,508 167,501 777,721 1,689,558 2,634,780 250,549 636,870 1,464,278 2,351,697 12-31-2020 Goods 908 Services 24,552 - - - - - - - - - - Other 17,040 16,401 18,485 39,312 152,921 Total 42,500 16,401 18,485 39,312 152,921 - - Goods 2,209 Services 70,595 12-31-2019 Other - - - - - - - - - 272 - - - - - - Total 72,804 - - - - 272 908 24,552 244,159 269,619 2,209 70,867 - 73,076 IN THOUSANDS OF U.S. DOLLARS – THUS$ Suppliers details Energy suppliers Fuel and gas suppliers Asset acquisitions Payables due for goods and services Goods 60,184 17,410 12,693 78,122 12-31-2020 Services 56,933 7,211 34,671 703,458 Other 1,627,935 - 12,958 292,824 Total 1,745,052 24,621 60,322 1,074,404 Goods 92,284 19,102 16,670 124,702 12-31-2019 Services 59,014 7,834 381 640,508 Other 1,253,815 - 10,868 199,595 Total 1,405,113 26,936 27,919 964,805 Total 168,409 802,273 1,933,717 2,904,399 252,758 707,737 1,464,278 2,424,773 400400 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationAPPENDIX 3 detail of due dates of payments to suppliers This appendix forms an integral part of the Group’s financial statements. IN THOUSANDS OF U.S. DOLLARS – THUS$ Suppliers with Payments Up-to-Date Up to 30 days From 31 to 60 days From 61 to 90 days From 91 to 120 days From 121 to 365 days More than 365 days Total Up to 30 days From 31 to 60 days From 61 to 90 days From 91 to 120 days From 121 to 365 days More than 365 days Total IN THOUSANDS OF U.S. DOLLARS – THUS$ Suppliers with Payments Overdue 12-31-2020 12-31-2019 Goods 104,782 52,007 3,877 373 6,462 - Services 469,913 233,753 30,449 23,619 16,912 3,075 Other 1,321,209 96,755 15,620 124,617 19,770 111,587 Total 1,895,904 382,515 49,946 148,609 43,144 114,662 Goods 181,353 51,522 6,192 1,088 10,394 - Services 424,827 167,440 24,320 10,437 5,528 4,318 Other 1,108,119 83,664 3,071 3,375 98,859 167,190 Total 1,714,299 302,626 33,583 14,900 114,781 171,508 167,501 777,721 1,689,558 2,634,780 250,549 636,870 1,464,278 2,351,697 12-31-2020 Goods 908 Services 24,552 - - - - - Other 17,040 16,401 18,485 39,312 152,921 Total 42,500 16,401 18,485 39,312 152,921 - - - - - - - 12-31-2019 Goods 2,209 Services 70,595 - - - - - - - - - 272 Other - - - - - - Total 72,804 - - - - 272 908 24,552 244,159 269,619 2,209 70,867 - 73,076 IN THOUSANDS OF U.S. DOLLARS – THUS$ Suppliers details Energy suppliers Fuel and gas suppliers Asset acquisitions Payables due for goods and services Goods 60,184 17,410 12,693 78,122 12-31-2020 Services 56,933 7,211 34,671 703,458 Other 1,627,935 - 12,958 292,824 Total 1,745,052 24,621 60,322 1,074,404 Goods 92,284 19,102 16,670 124,702 12-31-2019 Services 59,014 7,834 381 640,508 Other 1,253,815 - 10,868 199,595 Total 1,405,113 26,936 27,919 964,805 Total 168,409 802,273 1,933,717 2,904,399 252,758 707,737 1,464,278 2,424,773 401 Annual Report Enel Américas 2020402402 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information403 Annual Report Enel Américas 2020Press Release CONSOLIDATED FINANCIAL STATEMENTS OF ENEL AMÉRICAS GROUP AS OF DECEMBER 31, 2020 (figures in million US dollars) • Cumulative revenues as of December 2020 decreased by 14.8% as compared to 2019, reaching US$ 12,193 million, explained by lower revenues in the four countries where we operate. In quarterly terms, comparing the fourth quarter of 2020 and the fourth quarter of 2019, we can see a 1.8 % decrease reaching US$ 3,672 million. • In cumulative terms, EBITDA fell by 21.1% to US$ 3,154 million. This is mainly explained by a decrease in Argentina because of last year´s extraordinary recognition of US$ 203 million as a result of the agreement between Edesur and the Argentine Government for past claims. In addition to this we had a US$ 745 million negative impact as a result of currency devaluation in the four countries in which we operate, which affected Brazil's results in particular, and a reduction in demand due to COVID-19. This was partially offset by lower personnel costs for an amount of US$ 89 million explained by the reduction of liabilities of the Enel Sao Paulo pension fund due to a voluntary migration to a defined contribution system. Without the 2019 and 2020 extraordinary effects and removing the exchange rate effect, EBITDA would have increased by 0,6%. In quarterly terms, we see a 6.4% drop reaching an EBITDA of US$ 957 million, mainly explained by lower performance in Argentina and the devaluation of currencies in the four countries in which we operate. This was partially offset by the aforementioned impact of the Enel Sao Paulo pension fund. Removing the exchange rate effect and the positive pension fund impact, EBITDA would have increased by 9,3% during the quarter. Accumulated figures Quarterly figures EBITDA (MILLION US$) Country Argentina Brazil Colombia Peru Enel Américas (*) FY 2020 FY 2019 186 1,339 1,180 476 3,154 552 1,644 1,267 561 3,994 % (66.3%) (18.6%) (6.9%) (15.2%) (21.1%) 4Q 2020 4Q 2019 48 510 289 118 957 121 452 308 150 1,023 % (60.6%) 12.8% (6.5%) (21.1%) (6.4%) (*) Includes Holding and Adjustments • Operating revenues (EBIT) fell by 25.9% accumulated as of December and increased by 10.0% in quarterly terms, reaching US$ 2,053 million and US$ 670 million, respectively. At cumulative level, the decreased result is explained by a lower EBITDA while at quarterly level this has been offset by lower depreciation and amortization. • Net income attributable to the parent company at cumulative level reached US$ 825 million, 48.9% less than in 2019. In quarterly terms, the decrease was 57.3%. In both cases it is explained by the lower results at EBITDA level, partially offset by a better financial result. In quarterly terms, in 2019 there was a positive extraordinary effect of US$ 553 million for deferred taxes resulting from the merger of Enel Distribución Sao Paulo with Enel Sudeste. • Net financial debt reached US$ 4,226 million, up by 3.2% from the end of 2019, mainly explained by higher debt in Enel Dx Sao Paulo and Codensa, along with a cash decrease in Enel Américas Holding, which was partially offset by decreases in net debt in Enel Dx Goiás, Emgesa and Enel Dx Rio mainly. Currency devaluation had a negative impact totaling US$ 814 million. • CAPEX amounted to US$ 1,423 million, down by 13.6% from the previous year due to the currency devaluation effect. Removing this effect, CAPEX increased by US$ 128 million, mainly explained by higher investments in distribution companies in Brazil, especially Goias and Ceará. 404404 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information CAPEX for the quarter reached US$ 442 million, 22.4% less than in the fourth quarter of 2019. Removing the exchange rate effect, CAPEX fell by 3.5%, or US$ 20 million, mainly explained by lower investments in Emgesa and Enel Dx Rio. • As for the current situation arising from COVID-19, the fourth quarter saw a recovery in terms of demand in relation to the previous quarter and the level of collection remained within the range of a normal year. The effect attributable to COVID in this quarter totaled US$ 101 million at EBITDA level considering both the distribution and generation businesses. Our Company continues to do its best to maintain its operations, protect its workers and assist the community with various solidarity measures. Summary by business segment Generation The generation business segment registered a 13.5 % decrease in EBITDA as compared to the same period of the previous year, reaching US$ 1,383 million. This is explained by lower results in the Argentina and Peru added the US$ 232 million effect of currency devaluations with a negative impact in the four countries. Isolating this effect, EBITDA would have increased by 0.6% in relation to the previous year. In quarterly terms, EBITDA in the fourth quarter reached US$ 388 million, 5.5% less than in the same period of 2019, due to lower results in Argentina and Peru in addition to the negative exchange rate impact. Isolating the latter effect, EBITDA would have increased by 12.2%. Total Sales (GWh) Total Generation (GWh) FY 2020 66,996 40,455 FY 2019 72,553 41,760 Var % (7.7%) (3.1%) 4Q 2020 17,618 10,236 4Q 2019 18,157 10,342 Var % (3.0%) (1.0%) Distribution EBIDTDA in the distribution segment was 25.8 % lower than in the same period of 2019, reaching US$ 1,859 million; explained mainly by the extraordinary effect from the regulatory agreement of US$ 203 million signed by Edesur and the Argentine National State for pending claims plus decreased results in Peru. This was partially offset by better performance in operational terms in Colombia and the effect of the reduction in pension fund liabilities in Enel Sao Paulo due to the voluntary migration to a defined contribution plan. The exchange rate effect had a negative impact of US$ 521 million at consolidated level and there were lower sales in all four countries. Isolating the one-offs and the exchange rate effect, EBITDA would have decreased by 0.6%. In quarterly terms, the fourth quarter EBITDA reached US$590 million, down by 8.9% from the fourth quarter of 2019. Removing the exchange rate effect and the Enel Sao Paulo’s pension fund impact, it would have increased by 4.4%. As of December 31, 2020, the consolidated number of customers showed a 1.6% increase as compared to the previous year, while physical sales fell by 4.5% in cumulative terms, and by 0.7% in quarterly terms. Total Sales (GWh) Number of Clients FY 2020 115,213 FY 2019 120,594 25,639,531 25,237,624 Var % (4.5%) 1.6% 4Q 2020 30,281 4Q 2019 30,501 25,639,531 25,237,624 Var % (0.7%) 1.6% 405 Annual Report Enel Américas 2020 Financial summary The Company’s available liquidity has remained strong, as shown below: • Cash and cash equivalents US$ 1,507 million • Cash and cash equiv. + cash investments over 90 days US$ 1,529 million • Available committed lines of credit * US$ 1,218 million (*) Includes two lines of committed credits between related parties. One of them for US$ 154 million of Enel Brasil with EFI and fully available and another for US$ 150 million of Enel Americás with EFI and fully used. The average nominal interest rate in December 2020 decreased to 4.9% from 7.1% as of the same period of the previous year, primarily affected by lower debt costs in Brazil as a result of the payment linked with the purchase of Enel Distribución Sao Paulo, better rate conditions in debt refinancing in Brazil, Colombia, Peru and the Holding and a reduction in rates associated with variable debt rates in Brazil. Hedging and protection: To mitigate the financial risks associated with foreign exchange rate and interest rate fluctuations, Enel Américas S.A. has established policies and procedures aimed at protecting its financial statements against the volatility of these variables. • Enel Américas S.A. (consolidated) foreign exchange rate risk hedging policy establishes that there must be a balance between the index currency of the flows generated by each company and the currency in which they assume any type of debt. Therefore, the Enel Américas Group has entered into cross currency swaps of US$ 554 million and forwards of US$ 495 million. • To reduce the volatility of the financial statements stemming from interest rate changes, Enel Américas Group keeps an adequate debt structure balance. To achieve the above, we have entered into interest rate swaps totaling US$ 154 million. Markets in which the company operates Enel Américas owns and operates generation, transmission and distribution companies in Argentina, Brazil, Colombia, and Peru. Virtually all our revenues, income and cash flows come from the operations of our subsidiaries, jointly controlled entities, and associates in these four countries. Generation and Transmission Business Segment The total net installed capacity of the Enel Américas Group was 11,269 MW as of December 31, 2020. 55.5% of consolidated generation capacity comes from hydropower sources and 44.5% from thermal sources. The Group conducts the generation business through the following subsidiaries: Enel Generación Costanera, Enel Generación el Chocón and Central Docksud in Argentina, EGP Cachoeira Dourada, Enel Generación Fortaleza and EGP Volta Grande in Brazil, Emgesa in Colombia and Enel Generación Peru and Enel Generación Piura in Peru. The electricity transmission business is carried out mainly through an interconnection line between Argentina and Brazil, through Enel Cien, a subsidiary of Enel Brasil, with a 2,100 MW transport capacity. 406406 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information The following table shows the key physical indicators for the generation segment, in cumulative and quarterly terms, as of December 31, 2020 and 2019 for each subsidiary. Energy Sales (GWh) Accumulated figures Quarterly figures Market Share Company Markets in which operates FY 2020 FY 2019 % 4Q 2020 4Q 2019 Enel Generación Costanera SIN Argentina Enel Generación El Chocón SIN Argentina Central Dock Sud SIN Argentina Enel Generación Perú Enel Generación Piura Enel Emgesa SICN Peru SICN Peru SIN Colombia EGP Cachoeira Dourada SICN Brasil Enel Generación Fortaleza SICN Brasil EGP Volta Grande SICN Brasil 6,518 2,924 4,461 9,642 616 17,539 19,660 3,636 2,000 6,210 2,528 4,238 10,541 658 18,376 22,890 4,742 2,370 Total 66,996 72,553 5.0% 15.7% 5.3% (8.5%) (6.4%) (4.6%) (14.1%) (23.3%) (15.6%) (7.7%) 1,523 535 1,376 2,465 198 4,238 5,402 1,333 547 959 562 1,481 2,671 177 4,369 6,027 1,194 717 17,617 18,157 Distribution business segment December 2020 December 2019 5.1% 2.3% 3.5% 19.6% 1.3% 24.9% 4.2% 0.8% 0.4% 4.8% 2.0% 3.3% 19.9% 1.2% 25.5% 4.7% 1.0% 0.5% % 58.8% (4.8%) (7.1%) (7.7%) 11.9% (3.0%) (10.4%) 11.6% (23.7%) (3.0%) The distribution business is conducted through the following subsidiaries: Edesur in Argentina, Enel Distribución Río, Enel Distribución Ceará, Enel Distribución Goiás and Enel Distribución Sao Paulo in Brazil, Codensa in Colombia, and Enel Distribución Peru in Peru. These companies serve the main cities in Latin America, delivering electric service to more than 25.6 million customers. The following tables show some key indicators of the distribution segment by subsidiary, in cumulative and quarterly terms as of December 31, 2020 and 2019: Energy Sales (GWh)1 Accumulated figures Quarterly figures Energy losses (%) Compan FY 2020 FY 2019 % 4Q 2020 4Q 2019 % dec-20 dec-19 Empresa Distribuidora Sur S.A. (Edesur) Enel Distribución Perú S.A. (Edelnor) Enel Distribución Río S.A. Enel Distribución Ceará S.A. Enel Distribución Goiás S.A. Enel Distribución Sao Paulo S.A. Codensa S.A. 15,888 7,578 11,228 11,866 14,469 40,350 13,834 16,798 8,211 11,568 12,197 14,365 43,148 14,307 (5.4%) (7.7%) (2.9%) (2.7%) 0.7% (6.5%) (3.3%) 3,770 1,994 3,034 3,290 3,886 10,641 3,666 4,047 2,062 2,920 3,269 3,710 10,858 3,635 (6.8%) (3.3%) 3.9% 0.6% 4.7% (2.0%) 0.9% 18.9% 8.8% 22.1% 15.9% 11.4% 10.6% 7.6% 15.5% 8.2% 21.0% 13.9% 11.6% 9.6% 7.7% Total 115,213 120,594 (4.5%) 30,281 30,501 (0.7%) 13.0% 11.9% Clients (th)1 Clients/Employess Empresa dec-20 dec-19 Empresa Distribuidora Sur S.A. (Edesur) Enel Distribución Perú S.A. (Edelnor) Enel Distribución Río S.A. Enel Distribución Ceará S.A. Enel Distribución Goiás S.A. Enel Distribución Sao Paulo S.A. Codensa S.A. 2,508 1,456 2,948 4,011 3,207 7,896 3,615 2,490 1,434 2,940 3,956 3,114 7,776 3,527 % 0.7% 1.5% 0.3% 1.4% 3.0% 1.5% 2.5% dec-20 dec-19 720 2,464 2,957 3,575 2,856 1,350 2,352 709 2,414 2,968 3,510 2,783 1,130 2,345 % 1.6% 2.1% (0.4%) 1.9% 2.6% 19.5% 0.3% Total 25,640 25,238 1.6% 1,744 1,529 14.1% 1. The number of clients for the period 2019 was modified compared to clients reported in the previous period, due to a new methodology applied since 2020. 407 Annual Report Enel Américas 2020The following table shows revenues from energy sales by business segment, customer category, and country, in cumulative and quarterly terms as of December 31, 2020 and 2019: Argentina Brazil Colombia Peru Total Segments Structure and adjustments Total Accumulated figures (Figures in million US$) Energy Sales Revenues FY 2020 FY 2019 FY 2020 FY 2019 FY 2020 FY 2019 FY 2020 FY 2019 FY 2020 FY 2019 FY 2020 FY 2019 FY 2020 FY 2019 Generation Regulated customers Non regulated customers Spot Market Other Clients Distribution Residential Commercial Industrial Other 221 413 1,040 - - 221 413 739 361 254 68 56 1,023 455 374 81 113 214 350 468 8 5,168 3,045 1,239 370 514 691 127 539 17 8 6,439 3,651 1,597 530 661 1,129 1,214 637 353 139 669 417 128 - - 761 455 181 79 46 851 477 226 90 58 490 274 189 24 3 843 473 87 168 115 567 306 232 20 9 905 482 105 172 146 2,880 1,125 892 852 11 7,511 4,334 1,761 685 731 2,885 1,102 1,188 578 17 9,218 5,065 2,302 873 978 (736) (727) (9) - - - - - - - (794) (652) (142) - - (27) (27) - - - 2,144 398 883 852 11 7,511 4,334 1,761 685 731 2,091 450 1,046 578 17 9,191 5,038 2,302 873 978 Less: Consolidation adjustments - - (265) (328) (324) (330) (147) (163) (736) (821) 736 821 - - Energy Sales Revenues 960 1,436 5,943 6,802 1,566 1,735 1,186 1,309 9,655 11,282 Variation in million US$ and %. (476) 33.1% (859) (12.6%) (169) (9.7%) (123) (9.4%) (1,627) (14.4%) - - - 9,655 11,282 - (1,627) (14.4%) Argentina Brazil Colombia Peru Total Segments Structure and adjustments Total Quarterly figures (Figures in million US$) Energy Sales Revenues 4Q 2020 4Q 2019 4Q 2020 4Q 2019 4Q 2020 4Q 2019 4Q 2020 4Q 2019 4Q 2020 4Q 2019 4Q 2020 4Q 2019 4Q 2020 4Q 2019 132 161 1,100 Generation Regulated customers Non regulated customers Spot Market Other Clients Distribution Residential Commercial Industrial Other 44 - - 44 - 160 101 33 20 6 139 - - 139 - 282 117 94 (13) 84 648 49 151 440 8 180 (201) 382 - (1) 276 163 98 15 295 168 104 23 - - 1,507 1,656 782 413 96 216 977 460 157 62 201 106 57 26 12 208 114 53 22 19 73 52 6 1 213 114 25 50 24 285 301 505 9 2,081 1,103 528 192 258 775 62 545 167 1 2,375 1,335 639 201 200 (189) (180) (9) (208) 51 (259) - - - - - - - - - (8) (8) - - - 911 105 292 505 9 2,081 1,103 528 192 258 567 113 286 167 1 2,367 1,327 639 201 200 Less: Consolidation adjustments - - (66) (82) (84) (83) (39) (189) (216) 189 216 - - 95 59 5 2 229 127 32 35 35 (51) Energy Sales Revenues 204 421 2,089 1,754 393 420 306 339 2,992 2,934 Variation in million US$ and %. (217) 51.5% 335 19.1% (27) (6.4%) (33) (9.7%) 58 2.0% - - - 2,992 2,934 - 58 2.0% I.- Analysis of the Financial Statements 1. Analysis of Income Statement The result attributable to Enel Américas controlling shareholders for the year ended on December 31, 2020, was US$ 825 million, a 48.9% decrease from the result of US$ 1,614 million recorded the previous year. During the fourth quarter of 2020, the result attributable to Enel Américas shareholders reached US$ 339 million, with a US$ 454 million decrease as compared to the fourth quarter of 2019, equivalent to a 57.3% decrease. 408408 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationBelow we present an item-by-item comparison of the income statement of the continuing operations for the periods ended on December 31, 2020 and 2019: CONSOLIDATED INCOME STATEMENT (million US$) Accumulated figures Quarterly figures FY 2020 FY 2019 Change % Change 4Q 2020 4Q 2019 Change % Change Revenues Sales Other operating income Procurements and Services Energy purchases Fuel consumption Transportation expenses Other variable costs Contribution Margin Personnel costs Other fixed operating expenses Gross Operating Income (EBITDA) Depreciation and amortization Impairment gains and impairment losses reversal (Impairment losses) determined in accordance with IFRS 9 Operating Income Net Financial Income Financial income Financial costs Results by units of adjustments (hyperinflation - Argentina) Foreign currency exchange differences, net Other Non Operating Income Other earnings (Losses) Results of companies accounted for by participation method Net Income Before Taxes Income Tax Net Income from Continuing Operations 12,193 11,239 954 (7,556) (5,338) (138) (1,016) (1,064) 4,637 (418) (1,065) 3,154 (858) (242) 2,053 (313) 321 (768) 77 57 8 5 3 1,748 (567) 1,181 14,314 13,053 1,261 (8,541) (6,097) (277) (1,111) (1,056) 5,773 (628) (1,151) 3,994 (948) (279) 2,769 (377) 450 (1,088) 124 137 14 14 (0) 2,406 (236) 2,170 (2,121) (1,814) (307) 985 759 139 94 (8) (1,136) 210 85 (841) 90 37 (716) 63 (128) 319 (48) (80) (6) (9) 3 (658) (330) (989) (14.8%) (13.9%) (24.4%) 11.5% 12.5% 50.3% 8.5% (0.7%) (19.7%) 33.5% 7.4% (21.1%) 9.5% 13.2% (25.9%) 16.8% (28.5%) 29.4% (38.4%) (58.3%) (43.4%) (67.1%) 100.0% (27.4%) (139.7%) (45.6%) 3,672 3,420 252 (2,413) (1,851) (30) (268) (263) 3,738 3,394 344 (2,257) (1,574) (89) (279) (315) (66) 26 (93) (156) (277) 58 10 52 (1.8%) 0.8% (26.9%) (6.9%) 17.6% (65.8%) (3.7%) (16.5%) 1,260 1,482 (222) (15.0%) (41) (261) 957 (224) (64) 670 (28) 140 (238) 19 50 2 1 (0) 642 (210) 432 (147) (312) 1,023 (279) (137) 609 (51) 90 (171) 0 29 14 14 0 572 377 948 106 51 (66) 55 73 61 24 50 (67) 19 21 (12) (13) (72.2%) (16.3%) (6.4%) (19.8%) (53.5%) 10.0% 44.4% 55.9% 39.4% 100.0% 70.5% (88.9%) (94.7%) (0) 70 (586) (516) 0.0% 12.3% (155.7%) (54.4%) NET INCOME 1,181 2,170 (989) (45.6%) 432 948 (516) (54.4%) Net Income attributable to owners of parent Net income attributable to non-controlling interest 825 1,614 (789) (48.9%) 339 792 (454) (57.3%) 356 556 (200) (35.9%) 94 156 (62) (40.0%) Earning per share US$ (*) 0.01085 0.02465 (0.01380) (56.0%) 0.00445 0.01210 (0.00765) (63.2%) (*) As of December 31, 2020 and 2019 the average number of ordinary shares were 76,086,311,036 and 65,480,640,658, respectively EBITDA EBITDA during the period which ended on December 31, 2020 reached US$ 3,154 million, which represents a US$ 841 million decrease, equivalent to a 21.1% decrease in comparison to the US$ 3,994 million EBITDA for the period which ended on December 31, 2019. During the fourth quarter of 2020 Enel Américas´ EBITDA reached US$ 957 million, representing a US$ 66 million decrease as compared to the fourth quarter of 2019, equivalent to a 6.4% decrease. The economic impact from the decline in demand due to the economic slowdown resulting from the COVID -19 effects for 2020 is estimated to be US$ 483 million at EBITDA level, of which US$ 63 million is attributable to Argentina, US$ 280 million to Brazil, US$ 76 million to Colombia and US$ 64 million to Peru. 409 Annual Report Enel Américas 2020 The estimated impact on EBITDA for the fourth quarter is US$ 101 million, of which US$ 10 million is attributable to Argentina, US$ 49 million to Brazil, US$ 29 million to Colombia and US$ 13 million to Peru. Operating revenues, operating costs, staff expenses and other costs by nature for the operations that determine our EBITDA, broken down for each business segment are presented below: EBITDA FROM CONTINUING OPERATIONS BY BUSINESS SEGMENT (million US$) Generation and Transmission businesses: Argentina Brazil Colombia Peru Revenues Generation and Transmission businesses Distribution business: Argentina Brazil Colombia Peru Accumulated figures Quarterly figures FY 2020 FY 2019 Change % Change 4Q 2020 4Q 2019 Change % Change 231 1,106 1,159 505 3,001 801 6,735 1,547 887 436 778 1,247 596 3,057 1,347 8,154 1,665 950 (206) 328 (88) (91) (56) (546) (1,419) (118) (64) (47.2%) 42.2% (7.1%) (15.3%) (1.8%) (40.5%) (17.4%) (7.1%) (6.7%) 50 664 288 139 1,142 192 1,895 413 232 153 204 301 170 827 319 2,138 436 242 (103) 460 (13) (30) 314 (127) (242) (23) (10) (67.2%) 225.1% (4.2%) (17.8%) 38.0% (39.7%) (11.3%) (5.3%) (4.0%) Revenues Distribution business 9,970 12,116 (2,146) (17.7%) 2,732 3,135 (402) (12.8%) Less: consolidation adjustments and other activities (778) (859) 81 (9.5%) (202) (224) 21 (9.6%) Total consolidated Revenues Enel Américas 12,193 14,314 (2,121) (14.8%) 3,672 3,738 (66) (1.8%) Generation and Transmission businesses: Argentina Brazil Colombia Peru (19) (781) (413) (162) (130) (419) (466) (204) 111 (363) 53 42 (85.3%) 86.6% (11.4%) (20.6%) (3) (526) (107) (48) (52) (125) (124) (49) 49 (401) 18 1 (94.6%) 320.9% (14.2%) (1.6%) Procurement and Services Generation and Transmission businesses (1,375) (1,218) (157) 12.9% (683) (350) (334) 95.5% Distribution business: Argentina Brazil Colombia Peru (530) (4,938) (886) (598) (774) (5,820) (962) (619) 243 883 76 21 (31.5%) (15.2%) (7.9%) (3.4%) (108) (1,421) (237) (160) (205) (1,512) (245) (160) 97 91 8 (1) Procurement and Services Distribution business (6,952) (8,175) 1,223 (15.0%) (1,927) (2,121) 194 (47.2%) (6.0%) (3.1%) 0.4% (9.2%) Less: consolidation adjustments and other activities 772 853 (81) (9.5%) 197 214 (17) (7.8%) Total consolidated Procurement and Services Enel Américas (7,556) (8,541) 985 (11.5%) (2,413) (2,257) (156) 6.9% 410410 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationCONTINUATION: EBITDA FROM CONTINUING OPERATIONS BY BUSINESS SEGMENT (million US$) Generation and Transmission businesses: Accumulated figures Quarterly figures FY 2020 FY 2019 Change % Change 4Q 2020 4Q 2019 Change % Change Argentina Brazil Colombia Peru Personnel Expenses Generation and Transmission businesses Distribution business: Argentina Brazil Colombia Peru (30) (13) (29) (26) (97) (93) (131) (50) (25) (33) (16) (29) (25) (104) (118) (312) (42) (27) 3 3 0 (1) 7 25 181 (8) 2 (10.0%) (19.3%) (0.7%) 3.0% (6.5%) (21.2%) (58.0%) 20.3% (8.0%) Personnel Expenses Distribution business (299) (500) 200 (40.1%) Less: consolidation adjustments and other activities (21) (25) 3 (12.3%) (8) (3) (9) (6) (26) (26) 42 (19) (6) (10) (5) (10) (4) (8) (6) (27) (36) (62) (10) (7) 2 1 (1) (0) 1 11 104 (9) 0 (16.5%) (17.3%) 13.2% 5.1% (3.3%) (29.2%) (166.6%) 91.6% (3.1%) (115) 106 (91.7%) (5) (0) 4.2% Total consolidated Personnel Expenses Enel Américas (418) (628) 210 (33.5%) (41) (147) 106 (72.2%) Generation and Transmission businesses: Argentina Brazil Colombia Peru (41) (15) (45) (45) (28) (22) (42) (44) Other Expenses Generation and Transmission businesses (146) (137) Distribution business: Argentina Brazil Colombia Peru Other Expenses Distribution business (128) (579) (104) (49) (860) (147) (639) (105) (47) (938) (13) 7 (2) (1) (9) 19 60 1 (2) 78 46.3% (33.0%) 5.8% 2.1% 6.7% (13.0%) (9.3%) (1.1%) 4.5% (8.3%) (14) (5) (12) (13) (44) (36) (129) (28) (13) (206) (8) (5) (13) (13) (38) (42) (167) (28) (14) (251) (6) 1 1 (0) (5) 7 38 0 0 45 79.5% (10.9%) (5.5%) 3.9% 13.6% (15.8%) (22.7%) (0.4%) (1.5%) (17.9%) Less: consolidation adjustments and other activities (60) (77) 17 (22.0%) (12) (23) 11 (48.8%) Total consolidated Other Expenses Enel Américas (1,065) (1,151) 85 (7.4%) (261) (312) 51 (16.3%) EBITDA Generation and Transmission businesses: Argentina Brazil Colombia Peru 140 297 673 272 245 321 710 322 EBITDA Generation and Transmission businesses 1,383 1,598 Distribution business: Argentina Brazil Colombia Peru 50 1,087 507 215 307 1,383 557 257 (105) (24) (37) (50) (215) (257) (295) (50) (42) (42.8%) (7.4%) (5.1%) (15.4%) (13.5%) (83.8%) (21.4%) (8.9%) (16.6%) EBITDA Distribution business 1,859 2,504 (645) (25.8%) 25 131 161 72 388 23 387 129 52 590 84 70 155 102 411 36 397 153 62 648 (58) 61 6 (30) (23) (13) (10) (24) (11) (57) (68.9%) 87.9% 3.8% (29.7%) (5.5%) (35.7%) (2.5%) (15.6%) (16.2%) (8.9%) Less: consolidation adjustments and other activities (87) (107) 20 (19.3%) (21) (37) 15 (42.1%) Total consolidated EBITDA Enel Américas 3,154 3,994 (841) (21.1%) 957 1,023 (66) (6.4%) 411 Annual Report Enel Américas 2020EBITDA OF THE GENERATION AND TRANSMISSION SEGMENT: Argentina: Subsidiaries Enel Generación Costanera Enel Generación Chocón Central Dock Sud Enel Trading Argentina Accumulated figures Quarterly figures FY 2020 FY 2019 Change % Change 4Q 2020 4Q 2019 Change % Change 61 36 42 1 100 58 82 4 (39) (22) (40) (3) (39.0%) (37.9%) (48.8%) (75.0%) 6 4 14 1 25 22 18 41 2 (16) (14) (27) (1) (72.7%) (77.8%) (65.9%) (50.0%) 84 (58) (68.9%) EBITDA Generation Business 140 245 (105) (42.8%) EBITDA accumulated as of December 31, 2020 of our generation segment in Argentina reached US$ 140 million, representing a US$ 105 million decrease compared to the same period of the previous year. The main variables, which explain this decrease, are described below: Enel Generación Costanera S.A.: US$ 39 million lower EBITDA, mostly attributable to the conversion effects of the Argentine peso in relation to the US dollar and higher maintenance costs. • Operating revenues decreased US$ 101 million, or 47.1%, compared to the previous year. The decrease is mainly explained by: (i) US$ 46 million less in revenues due to the result of the devaluation of the Argentine peso against the US dollar; (ii) lower sales revenue from the previous year of US$ 61 million, as a result of Resolution No. 12/2019, applicable from 2020, which established that the company's own fuel supply should again be borne by Cammesa; and (iii) US$9 million less in revenues from lower Availability Contracts, a regulatory agreement that ended the previous year. This was partially offset by: (i) US$ 3 million in more in revenues for the implementation of new Resolution No. 31/2020, applicable as of February 2020, which established that energy and power values should be charged in Argentine pesos, using the exchange rate against US$ valid at the billing date; and (ii) US$ 12 million more in sale revenues as a result of increased physical sales of (+308 GWh) which includes increased rates of US$ 11 million. • Operating costs decreased by US$ 64 million which is explained mainly by: (i) US$ 59 million in lower gas consumptions as a result of the application of Resolution No. 12/2019, mentioned above;(ii) US$ 3 million due to lower variable costs in Cammesa as a result of lower market activity and (ii) US$ 2 million as a result of the devaluation of the Argentine peso. • Personnel costs decreased by US$ 2 million and are mainly explained by US$ 9 million lower costs as a result of the devaluation of the Argentine peso against the US dollar, offset by US$ 3 million of salary increases, mainly explained by recognition of inflation in salaries and social security burdens and US$ 4 million of lower labor activations compared to the previous year, due to lower levels of investment in 2020. • Other expenses by nature increased by US$ 4 million, mainly due to higher unscheduled maintenance costs of the combined cycle totaling US$ 14 million, offset by US$ 10 million as a result of the devaluation of the Argentine peso against the US dollar. As to the fourth quarter of 2020, EBITDA of our Costanera subsidiary reached US$ 6 million, representing a decrease of US$ 16 million compared to the same quarter of 2019. The decrease is mainly explained by: • Lower operating revenues of US$ 36 million that is explained by: (i) US$ 16 million less in revenues as a result of the devaluation of the Argentine peso against the US dollar; and (ii) lower sales revenue compared to the previous year of US$ 21 million, as a result of the effects of Resolution No. 12/2019, mentioned above. The above was offset by higher sale revenues of US$ 1 million as a result of increased physical sales of (+564 GWh). • Lower operating costs of US$ 20 million mainly explained by: (i) US$ 16 million less in gas consumptions as a result of the application of Resolution No. 12/2019, referred to above; (ii) US$ 3 million due to lower variable costs of Cammesa for lower market activity; and (iii) US$ 1 million as a result the devaluation of the Argentine peso against the US dollar. 412412 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information Enel Generación El Chocón: Lower EBITDA of US$ 22 million mainly due to lower revenues as a consequence of devaluation of Argentine Peso against US Dollar. • Enel Generación El Chocón operating revenues decreased by US$ 23 million in relation to the same period of last year, mostly because of lower conversion revenues of US$ 25 million, as a result of the devaluation of the Argentine peso against the US dollar, offset by US$ 2 million higher energy sales (+396 GWh) • • • Operating costs decreased by US$ 1 million compared to the same period of the previous year, as a result of the devaluation of the Argentine peso against the US dollar. Staff expenses in Enel Generación El Chocón were in line with the same period of the year before. Other expenses by nature in Enel Generación El Chocón were in line with the same period of the year before. In relation to the fourth quarter of 2020, EBITDA of our subsidiary Chocón reached US$ 4 million, representing a US$ 14 million decrease as compared to the same quarter of 2019, mainly US$ 5 million from lower conversion revenues as a result of the devaluation of the Argentine peso against the US dollar, and less in revenues from lower physical sales in the quarter of (-27 GWh) totaling US$ 9 million, which incorporates the effects of the valuation of tariffs which reduces the price of generators by US$ 6 million. Central Dock Sud: Lower EBITDA of US$ 40 million mainly as a result of the devaluation of the Argentine peso in relation to the US dollar. • Dock Sud’s operating revenues decreased by US$ 81 million as if December 2020 in comparison to December of the previous year, which is mainly explained by: (i) US$ 27 million less in revenues as a result of the devaluation of the Argentine peso against the US dollar; (ii) US$ 55 million less in revenue, mainly due to the effects of Resolution No. 12/2019, applicable in 2020, which established that the fuel supply is to be again borne by CAMMESA; and (iii) US$ 6 million less in revenues in compensation related to a claim in theTG-09 turbine recorded during the first half of 2019. This was partially offset by US$ 7 million higher energy sales (+223 GWh). • Operating costs decreased by US$ 44 million compared to December of the previous year, mainly explained by: (i) lower gas consumption costs of US$ 41 million, as a result of the implementation of resolution No. 12/2019, mentioned above; and (ii) US$ 3 million lower costs as a result of the devaluation of the Argentine peso against the US dollar. • • Dock Sud’s staff expenses were in line with the same period of the year before. Dock Sud’s other expenses by nature increased by US$ 4 million, mainly because of (i) increased insurance costs of US$ 2 million and (ii) US$ 2 million more in maintenance costs. As to the fourth quarter of 2020, EBITDA of our Central Dock Sud subsidiary reached US$ 14 million, representing a US$ 27 million decrease as compared with the same quarter in 2019. The above, mainly explained by; (i) US$ 8 million conversion effect of the Argentine peso to the US dollar; (ii) US$ 35 million less in energy sales mainly due to the effects of Resolution No. 12/2019 and lower physical sales (-105 GWh); and (iii) US$ 8 million lower other operating revenues mainly from the TG-09 turbine accident. This is offset by US$ 24 million less in operating costs due to a decrease in gas consumption, as a result of the above application. 413 Annual Report Enel Américas 2020Brazil: Subsidiaries EGP Cachoeira Dourada Enel Generación Fortaleza EGP Volta Grande Enel Cien Central Geradora Fotovoltaica Sao Francisco EBITDA Generation and Transmission Businesses Accumulated figures Quarterly figures FY 2020 FY 2019 Change % Change 4Q 2020 4Q 2019 Change % Change 135 62 49 46 5 86 114 60 61 - 49 (52) (11) (15) 5 57.0% (45.6%) (18.3%) (24.6%) 100.0% 80 19 20 12 16 25 17 12 - - 64 (6) 3 - - 400.0% (24.0%) 17.7% 0.0% 0.0% 297 321 (24) (7.4%) 131 70 61 87.9% EBITDA of our generation and transmission subsidiaries in Brazil totaled US$ 297 million in 2020 representing a US$ 24 million decrease in relation to the same period of the previous year. The main variables, by subsidiary, that explain this decrease are described below: EGP Cachoeira Dourada S.A.: US$ 49 million lower EBITDA due to higher energy sales offset by the effects of the devaluation of the Brazilian real in relation to the US dollar. • Operating revenues increased by US$ 318 million or 64.3% as of December 2020 compared to the previous year. The increase is mainly explained by: US$ 568 million increase in energy sales of which: (i) US$ 649 million is explained by higher energy import from Argentina and Uruguay for commercialization from October 2020, which led to more energy for sale, generating a revenue increase, (ii) partially offset by US$ 81 million of lower physical sales to the regulated market (-3,230 GWh). This was partially offset by US$ 25 million less in revenue, as a result of the devaluation of the Brazilian real n relation to the US dollar. • Operating costs increased by US$ 272 million, or 68.8% as of December 2020, mainly explained by: (i) increased energy purchase to cover its marketing obligations of US$ 618 million partially offset by US$63 million of lower energy purchases (-3,520 GWh), for lower customer demand on the regulated market. This was offset by: (i) US$ 222 million for a lower conversion effect of the devaluation of the Brazilian real; and (ii) US$ 61 million positive impact due to the registration of the GSF (Generation Scaling Factor) agreement, which allowed renegotiation and the distribution of hydrological risk costs among system operators. • • EGP Cachoeira Dourada’s staff expenses decreased by US$ 1 million as a result of the conversion effects of the Brazilian real in relation to the US dollar. EGP Cachoeira Dourada’s other expenses by nature decreased by US$ 1 million as a result of the conversion effects of the Brazilian real in relation to the US dollar. For the fourth quarter of 2020, EGP Cachoeira Dourada EBITDA reached US$ 80 million, representing a US$ 64 million increase compared to the same quarter of the previous year. This variation is mainly explained by: (i) increased energy sales totaling US$ 632 million for energy import operations from Argentina and Uruguay, generating an increase in revenue, partially offset by US$ 22 million attributable to lower physical sales (-625 GWh), due to a lower demand in the regulated market; and (ii) positive impact from the registration of the GSF agreement totaling US$ 61 million. This is partially offset by: (i) US$ 603 million increased energy purchases, mainly US$ 503 million for higher imports; and US$ 100 million higher purchases due to higher average purchase prices, the above despite lower physical purchases of (-628 GWh); and (ii) US$ 4 million related to the conversion effects stemming from the devaluation of the Brazilian real against the US dollar. 414414 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationEnel Generación Fortaleza: US$ 52 million lower EBITDA mainly due to lower energy sales and due to the conversion effects of the Brazilian real • Enel Generación Fortaleza’s operating revenues decreased by US$ 122 million, mainly because of (i) lower energy sales of US$ 65 million from lower demand (-1,106 GWh) and (ii) US$ 57 million less in revenue from the conversion effects of the devaluation of the Brazilian real to the US dollar. • Operating costs decreased by US$ 65 million, mainly because of (i) US$ 37 million lower costs of the devaluation of the Brazilian real in relation to the US dollar; and (ii) US$ 24 million reduction in energy purchases (-190 GWh), explained by lower average purchase prices; and (iii) US$ 4 million less in gas consumption due to lower generation in 2020. • • Enel Generación Fortaleza’s staff expenses decreased by US$ 1 million of the devaluation of the Brazilian real in relation to the US dollar. Enel Generación Fortaleza’s other expenses by nature decreased by US$ 4 million mainly because of US$ 3 million lower costs for professional and legal services and US$ 1 million of the devaluation of the Brazilian real in relation to the US dollar. For the fourth quarter of 2020, Enel Generación Fortaleza's EBITDA reached US$ 19 million, representing a US$ 6 million decrease compared to the same period of last year. This variation is mainly explained by: (i) US$ 5 million less from the conversion effect stemming from the devaluation of the Brazilian real against the US dollar; (ii) lower Provin profit income of US$ 7 million, due to lower generation; and (iii) a US$ 18 million increase in energy purchase mainly due to lower generation of (+587 GWh). This was partially offset by: (i) US$ 10 million more in revenues mainly due to increased physical sales for the period (+139 GWh), due to an increased demand; and (ii) US$ 14 million less in gas consumption due to lower power generation. Enel Green Power Volta Grande: US$ 11 million lower EBITDA mainly due the effects of the devaluation of the Brazilian real in relation to the US dollar and lower energy sales. • EGP Volta Grande’s operating revenues decreased by US$ 44 million and are mainly explained by: (i) lower energy sales of US$ 25 million, retail marketing operation (-370 GWh); and (ii) US$ 19 million lower conversion effects of the devaluation of the Brazilian real against the US dollar. • • • EGP Volta Grande’s operating costs decreased US$ 32 million, due to lower energy purchases (-527 GWh) stemming from lower energy sales and increased own production. EGP Volta Grande’s personnel expenses were in line with the same period of the year before. EGP Volta Grande’s other expenses by nature decreased by US$ 1 million mainly from the conversion effects due to the Brazilian real devaluation against the US dollar. EGP Volta Grande EBITDA for the fourth quarter of 2020 reached US$ 20 million, representing a US$ 3 million increase over the same period of the previous year, mainly explained by lower energy purchases (-189 GWh) totaling US$ 9 million, due to lower energy marketing, offset by US$ 6 million as a result of the conversion effects of the Brazilian real against the US dollar. Enel Cien S.A.: Enel CIEN EBITDA reached US$ 46 million, representing a US$ 15 million decrease compared to the 2019 financial year, mainly explained by the lower conversion effect stemming from the devaluation of the Brazilian real against the US dollar. For the fourth quarter of 2020, Enel CIEN EBITDA reached US$ 12 million, in line with the same quarter of last year. 415 Annual Report Enel Américas 2020 Colombia: Subsidiaries Emgesa EBITDA Generation Business 673 710 (37) (5.1%) 161 155 Accumulated figures Quarterly figures FY 2020 FY 2019 Change % Change 4Q 2020 4Q 2019 Change % Change 673 710 (37) (5.1%) 161 155 6 6 3.8% 3.8% Cumulative EBITDA as of December 31, 2020 in Emgesa, our generation subsidiary in Colombia, reached US$ 673 million, representing a US$ 37 million decrease as compared to December 2019. The main variables that explain this situation are described below: • Emgesa’s operating revenues decreased by US$ 88 million compared to the previous year. This decrease is mainly explained by: (i) US$ 142 million less in revenues as a result of the devaluation of the Colombian peso against the US dollar; (ii) US$ 2 million less in gas sales due to lower consumption related to COVID-19; and (iii) US$ 5 million lower operating revenues due to the termination of insurance compensation received in June 2019 from accidents in the El Quimbo hydroelectric plant. This was partially offset by: (i) a US$ 56 million operating improvement mainly from better average sales prices (caused by low hydrology in 2020) of US$ 111million, offset by US$ 55 million for lower physical sales (-837 GWh), due to lower unregulated market demand stemming from COVID-19; and (ii) US$ 5 million more in revenues related to the sales of carbon bonds. • Emgesa’s operating costs decreased by US$ 53 million composed mainly by: (i) US$ 51 million lower conversion effect of the devaluation of the Colombian peso; and (ii) a US$ 7 million decrease in energy purchases as a result of lower purchase price of US$ 27 million, offset by higher physical purchases of US$ 20 million (+320 GWh); and (iii) lower gas purchases totaling US$ 4 million mainly due to the decrease in customer consumption because of mandatory quarantines due to COVID-19. This was partially offset by US$ 4 million increased transport expenses and other variable provisions and services totaling US$ 5 million mainly due to the new contribution of the National Development Plan to regulatory bodies. Emgesa’s staff expenses were in line with last year’s results. Emgesa’s other expenses by nature increased by US$ 2 million in relation to December 2019, mainly explained by US$ 8 million in tax contingencies and US$ 6 million of the devaluation of the Colombian peso in relation to the US dollar. In quarterly terms, EBITDA of our generation segment in Colombia totaled US$ 161 million in the fourth quarter of 2020, with a US$ 6 million increase as compared to the fourth quarter of 2019. This variation is mainly explained by: (i) US$ 5 million more in revenues related to the sale of certified carbon bonds; (ii) US$16 million lower energy purchases mainly due to lower average exchange prices of US$ 26 million, offset by higher physical purchases of US$ 10 million (+147 GWh); (iii) US$ 5 million lower cost of fuel consumption due to the decrease in thermal generation according to system requirements. This is partially offset by: (i) US$ 10 million less in conversion effects of the devaluation of the Colombian peso against the US dollar; (ii) US$ 3 million higher transportation costs; and (iii) US$ 5 million increased other variable provisions and services mainly for the new contribution of the National Development Plan to regulatory bodies. • • 416416 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information Perú: Subsidiaries Enel Generación Perú Enel Generación Piura Chinango Accumulated figures Quarterly figures FY 2020 211 30 31 FY 2019 244 44 34 Change (33) (14) (3) % Change 4Q 2020 57 7 8 (13.5%) (31.8%) (8.8%) 4Q 2019 80 11 11 Change (23) (4) (3) % Change (28.8%) (36.4%) (27.3%) EBITDA Generation Business 272 322 (50) (15.4%) 72 102 (30) (29.7%) EBITDA of our generation subsidiaries in Peru reached US$ 272 million as of December 31, 2020, which represents a US$ 50 million decrease in relation to the previous year. The main variables that explain such a decrease are described below: Enel Generación Perú S.A.(includes Chinango): (US$ 36 million lower EBITDA mainly due to the conversion effects of the new Peruvian Sol in relation to the US dollar and lower physical sales). • Operating revenues decreased by US$ 74 million in relation to the previous year. This decrease is mainly explained by: (i) US$ 42 million lower physical energy sales (-899 GWh); (ii) US$ 10 million less in revenue from the modifications to the over contracting agreement; and (iii) US$ 22 million less in revenue from the conversion effects of the devaluation of the new Peruvian sol against the US dollar. • Operating costs decreased by US$ 38 million as of December 31, 2020, mainly as a result of: (i) US$ 11 million lower energy purchases (- 419 GWh), explained by a lower marginal cost; (ii) US$ 8 million less in gas consumption , due to lower production in thermal power plants; (iii) US$ 12 million lower gas transport and distribution costs for the reduction of Take or Pay levels with suppliers and (iv) US$ 7 million lower costs due to the conversion effects of the devaluation of the new sol in relation to the US dollar • • Personnel expenses of our generation subsidiaries in Peru were in line with the same period of last year. Other expenses by nature of the generation subsidiaries in Peru were in line with the same period of last year. EBITDA for the fourth quarter of 2020 of Enel Generación Peru (including Chinango) reached US$ 65 million, representing a US$ 26 million decrease as compared to the same quarter of the previous year. This variation is mainly explained by: (i) US$12 million less in revenue from the modifications to the over contracting agreement; (i) US$ 6 million lower sale revenue mainly due to lower physical sales of (-206 GWh); (iii) US$ 4 million higher fuel consumption due to higher production of thermal power plants; and (iv) US$ 4 million from the conversion effect of the devaluation of the new Peruvian sol against the US dollar. Enel Generación Piura S.A.: (US$ 14 million lower EBITDA mainly attributable to lower gas sales). • Operating revenues decreased by US$ 18 million compared to the same period of the previous year. This decrease is mainly explained by: (i) US$ 15 million less in revenues from lower gas sales and (ii) US$ 3 million from lower conversion income of the devaluation of the new Peruvian sol in relation to the US dollar. • Operating costs decreased by US$ 4 million, as of December 2020, mainly as a result of lower gas consumption of US$ 3 million, due to lower production of thermal powerplants, explained by lower demand and US$ 1 million from conversion effects of the devaluation of the new Peruvian sol in relation to the US dollar. • • Personnel expenses were in line with the same period of last year. Other expenses by nature were in line with the same period of last year. EBITDA for the fourth quarter of 2020 of Enel Generación Piura reached US$ 7 million, representing a US$ 4 million decrease compared to the same quarter of the previous year. This is mainly explained by less in revenues in other sales of US$ 3 million due to lower gas sales and US$ 1 million related to the conversion effects of the devaluation of the new Peruvian sol in relation to the US dollar. 417 Annual Report Enel Américas 2020DISTRIBUTION SEGMENT EBITDA: Argentina: Subsidiaries Edesur EBITDA Distribution Business Accumulated figures Quarterly figures FY 2020 FY 2019 Change % Change 4Q 2020 4Q 2019 Change % Change 50 50 307 (257) (83.8%) 307 (257) (83.8%) 23 23 36 36 (13) (35.7%) (13) (35.7%) EBITDA of our distribution subsidiary in Argentina, Empresa Distribuidora Sur (Edesur) reached US$ 50 million for the period ended on December 31, 2020, representing a US$ 257 million decrease as compared to the same period of the previous year. The main variables, which explain this decrease are described below: • Operating revenues decreased by US$ 546 million as of December 2020, which is mainly explained by: (i) US$ 203 million less in revenues as a result of the regulatory agreement signed between Edesur and the Argentine National State in 2019, which ended outstanding reciprocal claims arising in the 2006-2016 transition period; (ii) US$ 51 million less income from inflation adjustments compared to 2019 from the application of IAS 29; and (iii) US$ 324 million less in revenues attributable to the conversion effect, as a result of the devaluation of the Argentine peso against the US dollar. This was partially offset by: (i) US$ 14 million more from better average sales prices due to inflation by US$ 62 million, despite lower physical sales of (-910 GWh) by US$ 48 million, mainly as a result of COVID-19; and (ii) US$ 18 million more revenues from the new 2020 framework agreement between the National Electricity Regulatory Body (ENRE) and the Edenor and Edesur, to allocate funds for works to improve electricity service and the status of distribution networks to the popular neighborhoods of greater Buenos Aires. • Edesur’s operating costs decreased by US$ 243 million mainly explained by (i) a US$ 214 million decrease as a result of the devaluation of the Argentine peso against the US dollar; and (ii) a US$ 27 million decrease in the cost of energy purchases mainly by lower market purchase prices; and (iii) a US$ 10 million decrease in other supply rates, explained by lower rental expenses of generator sets. This was partially offset by US$ 8 million in higher transportation costs due to increased service prices in line with inflation. • Edesur’s personnel expenses decreased by US$ 26 million mainly explained by: (i) US$ 38 million less in expenses due to lower conversion effects, as a result of the devaluation of the Argentine peso against the US dollar; and (ii) US$ 15 million lower spending on retirement and pension plans and legal disputes. This was partially offset by US$ 27 million in salary increases, mainly explained by the recognition of inflation in salary and social security burdens. • Edesur’s other expenses by nature decreased by US$ 19 million mainly explained by lower effects due to the US$ 51 million devaluation of the Argentine peso, offset by higher costs for maintenance, services and network renewal and others totaling US$ 30 million and US$ 2 million for the purchase of safety and hygiene elements linked to COVID. For the fourth quarter of 2020, EBITDA of our distribution segment in Argentina reached US$ 23 million, representing a US$ 13 million decrease as of compared to the same quarter of the previous year. This is mainly explained by: (i) US$ 14 million lower energy sale revenues, mainly due to lower physical energy sales (-277 GWh), explained primarily by COVID-19; (ii) US$ 20 million lower income from inflation adjustment effects due to the application of IAS 29; (iii) US$ 5 million increased personnel costs, mainly due to salary increases; (iv) US$ 15 million increased other expenses by nature mainly due to higher costs for maintenance and network renewal services and others. This was partially offset by: (i) a US$ 17 million decrease in the cost of energy purchases related to US$ 19 million less in purchase prices offset by US$ 2 million higher physical purchase (+72 GWh); (ii) a US$ 6 million decrease in other variable provisions and services mainly due to a US$ 3 million decrease in generator set rental costs and US$ 3 million in taxes on banking transactions and fines for quality services; and (iii) US$ 18 million more in revenues due to the new 2020 framework agreement between ENRE and Edenor and Edesur as mentioned above. 418418 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information Subsidiaries Edesur Energy Losses (%) December 2020 18.9% December 2019 15.5% % Change 21.9% Total Distribution Business 18.9% 15.5% 21.9% Brazil: Clients (million) December 2020 December 2019 2.49 2.51 2.51 % Change 0.7% 2.49 0.7% Accumulated figures Quarterly figures Subsidiaries Enel Distribución Rio Enel Distribución Ceará Enel Distribución Goiás Enel Distribución Sao Paulo FY 2020 FY 2019 Change % Change FY 2020 FY 2019 Change % Change 200 168 168 552 300 224 220 639 (100) (56) (52) (87) (33.3%) (25.0%) (23.6%) (13.6%) 54 47 65 220 84 82 30 201 (30) (35) 35 19 (35.7%) (42.7%) 116.7% 9.5% EBITDA Distribution Business 1,087 1,383 (295) (21.4%) 387 397 (10) (2.5%) Cumulative EBITDA as of December 31, 2020 of our distribution subsidiaries in Brazil reached US$ 1,087 million representing a US$ 295 million decrease as compared to the same period of the previous year. The main variables that explain this decrease are described below: Enel Distribución Río S.A.: US$ 100 million lower EBITDA mostly attributable to the effects of the devaluation of the Brazilian real in relation to the US dollar and lower physical sales. • Enel Distribución Rio’s operating revenue decreased by US$ 294 million or 19.4% as of December 2020, mainly explained by (i) US$ 378 million less in revenues as a result of the conversion effects of the devaluation of the Brazilian real in relation to the US dollar. This was partially offset by (i) US$ 55 million more in revenues from energy sales, mainly from higher average sale prices, due to US$ 98 million inflation adjustment effect, partially offset by US$ 43 million lower physical energy volume (-340 GWh) as a result of the COVID pandemic-19; (ii) increased other operating revenues, which went up by US$ 29 million, explained by higher construction revenues from the application of IFRIC 12 "Service Grant Agreements" (hereinafter "IFRIC 12"). • Enel Distribución Rio’s operating costs decreased by US$ 160 million or 15.5% in relation to December 2019 explained mainly by: (i) US$ 296 million in lower costs as a result of the conversion effects of the devaluation of the Brazilian real; and (ii) US$ 34 million in higher energy consumption explained by US $ 98 million higher prices related to a higher adjustment for inflation. The above was offset by (i) a US$ 64 million increase for higher energy purchases (+506 GWh), (ii) a US$ 37 million increase in other variable supplies and services due to US$ 29 million construction costs related to the application of IFRIC 12 and a US$ 8 million contingency effect related to the PIS and Cofins taxes registered in 2019 and (ii) US$ 38 million higher costs of energy transport due to higher fees for network use. • • Personnel expenses decreased by US$ 6 million due mainly to the lower conversion effects caused by the devaluation of the Brazilian real against the US dollar of US$ 7 million and US$ 1million lower staffing costs. Other expenses by nature decreased by US$ 28 million due mainly to US$ 39 million lower conversion effects stemming from the devaluation of the Brazilian real in relation to the US dollar offset by US$ 11 million from higher operation and commercial costs. EBITDA for the fourth quarter of 2020 of our subsidiary Enel Distribución Río reached US$ 54 million, representing a US$ 30 million decrease as compared to the same quarter of the previous year. This variation is mainly explained by: (i) US$ 18 million conversion effect of the devaluation of the Brazilian real; (ii) US$ 15 million more in transportation costs due to higher rate in network use; (iii) a US$ 56 million increase in the cost of energy purchases explained by US$ 34 million increased physical energy purchase and a US$ 22 million increase in prices due to inflation; (iv) US$ 5 million higher personnel costs mainly explained by higher salaries offset by higher capitalization; (v) a US$ 10 million increase in other expenses by nature mainly explained by 419 Annual Report Enel Américas 2020increased technical operations; (vi) US$ 5 million lower fine revenue for arrears from commercial customers and (vii) US$ 14 million less from energy toll revenue from unregulated customers in the local market. This was partially offset by US$ 93 million more in revenues from energy sales mainly due to higher energy volume of US$ 52 million (+114 GWh), as a result of the US$ 41 million economic recovery and higher average prices due to a further adjustment by inflation. Subsidiaries Enel Distribución Rio Energy Losses (%) December 2019 21.0% December 2020 22.1% % Change 5.2% December 2020 2.95 Clients (million) December 2019 2.94 % Change 0.3% Enel Distribución Ceará S.A.: US$ 56 million lower EBITDA mainly due to the effects of the devaluation of the Brazilian real in relation to the US dollar • Enel Distribución Ceará’s operating revenue decreased by US$ 231 million or 16.8% as of December 2020, explained mainly by US$ 355million, as a result of conversion effects of the devaluation of the Brazilian real against the US dollar. This was partially offset by: (i) US$ 58 million increase in energy sales mainly due to higher tariff prices as compared to the previous year, US$ 92 million, offset by lower physical sales (-331 GWh) of US$ 34 million; (ii) a US$ 61 million increase in construction revenue due to the application of IFRS 12; and (iii) a US$ 5 million increase in other service services due to energy tolls for unregulated customers in the local market stemming from due to increased network usage. • Enel Distribución Ceará’s operating costs decreased by US$ 157 million in relation to December 2019 and are mainly explained by US$ 259 million, as a result of the conversion effects of the devaluation of the Brazilian real. This was partially offset by: (i) a US$ 23 million increase in energy purchases as a result of higher average purchase prices of US$ 58 million, due to inflation adjustment, offset by a US$ 35 million decrease in physical energy purchases (-83 GWh); (ii) a US$ 61 million increase in other variable procurements and services due to construction costs related to IFRS 12; and (iii) a US$ 18 million increase in transportation cost explained by higher network usage fee. • • Personnel expenses decreased by US$ 9 million compared to December 2019, mainly due to US$10 million from the conversion effects related to the devaluation of the Brazilian real against the US dollar of. Other expenses by nature decreased by US$ 8 million compared to 2019, mainly due to US$ 33 million lower conversion effects of the devaluation of the Brazilian real offset by: (i) a US$ 12 million increase in maintenance service due to atypical weather conditions in the region that put service quality at risk; (ii) US$ 5 million external pandemic-related information campaigns; (iii) US$ 6 million higher technical service expenses ; and (iv) US$ 2 million higher expenses associated with insurance. EBITDA for the fourth quarter of 2020 of our subsidiary Enel Distribución Ceará US$ 47 million, representing a US$ 35 million decrease as compared to the same quarter of the previous year. This variation is mainly explained by: (i) US$ 16 million from the conversion effect of the devaluation of the Brazilian real; (ii) US$ 2 million lower energy sale revenues mainly due to US$ 4 million from lower average sales prices for inflation adjustment effect, offset by US$ 2 million higher volume of energy sales (+21 GWh); (iii) US$ 42 million higher energy purchases mainly US$ 27 million for increased purchases and higher average prices due to inflation adjustment of US$ 15 million; (iv) a US$ 7 million increase in transportation costs due to higher network usage tariffs; (v) a US$ 3 million increase in personnel expenses mainly explained by higher non-recurring personnel expenses as per agreement that affected the headcount value; and (vi) US$ 5 million other expenses by nature mainly US$ 3 million because of atypical weather conditions in the region that put service quality at risk and greater technical services of US$ 2 million. The above partially offset by; (i) a US$ 35 million increase in other services for higher energy toll revenue, due to increased network usage; and (ii) US$ 5 million from other operating revenues mainly from higher fines for non-payment or late payment. 420420 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationSubsidiaries Enel Distribución Ceará Energy Losses (%) December 2019 13.9% December 2020 15.9% % Change 14.4% December 2020 4.01 Clients (million) December 2019 3.96 % Change 1.4% Enel Distribución Goiás: US$ 52 million lower EBITDA mainly by the devaluation of the Brazilian real in relation to the US dollar. • Operating revenues in Enel Distribución Goiás decreased by US$ 152 million or 9.9% as of December 2020 and is mainly explained by US$ 431 million less in revenues as a result of the conversion effects of the devaluation of the Brazilian real in relation to the US dollar. This was partially offset by (i) a US$ 123 million increase in energy sales, mainly explained by higher physical sales (+104 GWh) by US$ 10 million, lower service quality fines by US$ 28 million, and higher revenues by US$ 85 million due to the amount recognized by higher rates; (ii) a US$ 134 million increase in other revenues due to the application of IFRIC 12 and partially offset by US$ 8 million less in revenue from fines from customers; and (iii) US$ 22 million higher toll revenue due to rate adjustment from free customers. • Operating costs decreased by US$ 73 million, mainly explained by US$ 318 million less in revenues as a result of the conversion effects of the devaluation of the Brazilian real in relation to the US dollar. The above was partially offset by (i) US$ 38 million in higher transport costs for higher network usage rate, (ii) higher cost per energy purchase of US$ 66 million, for higher average prices; and (iii) US$ 141 million in higher other variable supplies and services which correspond mainly to lower construction costs due to the application of IFRIC 12. • Personnel expenses decreased by US$ 16 million explained by: (i) US$ 7 million lower conversion effect of the devaluation of the Brazilian real; and (ii) a US$ 9 million decrease in personnel expenses explained by fewer staff members and lower overtime expenses resulting from COVID-19; US$ 4 million increase in the activation of personnel expenses, and US$ 5 million higher investments to improve service quality. • Other expenses by nature decreased by US$ 11 million explained by US$ 54 million lower conversion effects of the devaluation of the Brazilian real. This was partially offset by: (i) US$ 32 million higher maintenance and conservation costs for electrical installations, meter reading services, customer service and other related ones; (ii) US$ 8 million higher costs for fines and quality-of-service contingencies; and (iii) US$ 3 million higher expenses explained by other marketing activities and customer-related virtual channels. EBITDA for the fourth quarter of 2020 of our subsidiary Enel Distribución Goiás reached US$ 65 million, representing a US$ 35 million increase as compared to the same quarter of the previous year. This variation is mainly explained by: (i) a US$ 9.8 million increase in energy sales of (+176 GWh) mainly explained by increased tariff for sale of energy due to higher inflation adjustment; and (ii) US$23 million less in expenses by nature, mainly explained by lower operating maintenance costs for Task Force Project 2019 mainly incurred in the last quarter of 2019. The above was partially offset by: (i) US$ 54 million more in energy purchase expenses of due to higher average prices; (ii) US$ 15 million higher transportation costs from higher network usage rate; and (iii) US$ 17 million conversion effect of the devaluation of the Brazilian real. Subsidiaries Enel Distribución Goiás Energy Losses (%) December 2019 11.6% December 2020 11.4% % Change (1.7%) December 2020 3.21 Clients (million) December 2019 3.11 % Change 3.0% 421 Annual Report Enel Américas 2020Enel Distribución Sao Paulo (former Eletropaulo), lower EBITDA of US$ 87 million, mainly of the devaluation of the Brazilian real against the US dollar despite increased physical sales and the positive effect of voluntary migration by employees to a defined contribution plan. • Operating revenues in Enel Distribución Sao Paulo decreased by US$ 741 million, compared to the same period of the previous year. The main variations are explained below: (i) US$ 954 million in less in revenues due to the conversion effects stemming from the devaluation of the Brazilian real in relation to the US dollar. This is partially offset by (i) higher energy sales revenues of US$ 90 million, as a result of US$ 368 million average sales price increase despite lower physical sales of (-2.798 GWh) totaling US$278 million, due to the impacts of COVID-19, (ii) US$ 67 million increase in other services due to increased average sale prices for toll services; and (iii) US$ 56 million higher operating revenues due to higher construction revenues from the application of IFRS 12. • Operating costs decreased by US$ 403 million, compared to December 2019 and are mainly explained by: US$ 682 million, as a result of the conversion effects of the devaluation of the Brazilian real against the US dollar. This was partially offset by: (i) US$ 86 million higher energy purchases as a result of lower hydrology and greater purchases from thermal companies due to higher prices in the last quarter of 2020; (ii) US$ 47 higher transportation costs million due to increased network usage tariffs; and (iii) a US$ 56 million increase in variable supply and services due to construction costs due to the application of IFRS 12. • Personnel expenses decreased by US$ 149 million compared to December 2019, mainly because of : (i).US$ 43 million as a result of the conversion effects by the devaluation of the Brazilian real against the US dollar; (ii) US$ 89 million attributable to the effects of voluntary migration by employees to a defined contribution plan; (iii) US$ 4 million due to increased activation of personnel expenses, by increasing investment in projects to improve service quality; and (iv) US$13 million for less in expenses due to increased efficiency and digitization of processes. • Other expenses by nature decreased by US$ 13 million compared to December 2019, mainly of the devaluation of the Brazilian real totaling US$ 52 million, offset by (i) a US$ 40 million increase mainly for third-party service costs for lines and networks maintenance and other technical services. EBITDA for the fourth quarter of 2020 of Enel Distribución Sao Paulo reached US$ 220 million, representing a US$ 19 million increase as compared to the same quarter of the previous year. This variation is mainly explained by: (i) US$ 123 million increase in energy sales due to average sale price increases, despite lower physical sales of (-217 GWh), mainly due to COVID-19 impacts; (ii) a US$ 26 million increase other services due to increased average sales prices for toll services; and (iii) US$ 99 million less in personnel expenses mainly explained by US$ 89 million attributable to the effects of voluntary employee contribution to a specific contribution plan; US$ 4 million less in expenses due to increased activation of personnel expenses, by increased investment in projects to improve service quality; and lower costs of US$ 6 million due to increased efficiency and digitization of processes. This was partially offset by: (i) US$ 77 million conversion effect of the devaluation of the Brazilian real; (ii) US$ 121 higher energy purchases mainly as a result of lower hydrology and for greater purchases from thermal companies due to higher prices; (iii) US$ 19 million higher transportation costs due to increased network usage tariffs; and (iv) a US$ 12 million increase in other expenses by nature mainly for third-party services for line and network maintenance and other technical services. Subsidiaries Enel Distribución Sao Paulo Energy Losses (%) December 2019 9,6% December 2020 10,6% % Change 10,4% December 2020 7,90 Clients (million) December 2019 7,78 % Change 1,5% 422422 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information Colombia: Subsidiaries Codensa Accumulated figures Quarterly figures FY 2020 FY 2019 Change % Change 4Q 2020 4Q 2019 Change % Change 507 557 (50) (8.9%) 129 153 (24) (15.6%) EBITDA Distribution Business 507 557 (50) (8.9%) 129 153 (24) (15.6%) EBITDA of our subsidiary Codensa in Colombia reached US$ 507 million on December 31, 2020 which represents a US$ 50 million decrease in relation to the previous year. The main variables that explain such increase are described below: Codensa S.A.: US$ 50 million lower EBITDA mostly explained by the devaluation of the Colombian peso in relation to the US dollar. • Operating revenues in Codensa decreased by US$ 118 million, in relation to the same period of last year mainly accounted by US$ 194 million of lower conversion effects of the devaluation of the Colombian peso in relation to the US dollar. This was partially offset by (i). a US$ 44 million increase due to higher investment recognition income in 2019, paid at higher rates due to higher regulatory asset base; (ii) US$ 6 million for better average sale price, all despite lower physical sales of (-473 GWh), due to COVID-19 impact; (iii) a US$ 6 million increase in revenue from Management, Operation and Maintenance (AOM), for loss management according to new CREG 189resolution in December, 2019; (iv) a US$ 11 million increase mainly due to improved credit card margin in November 2019 thanks to the start of the new Open Book model with Colpatria; and (v) a US$ 3 million fee increase from the collection of municipal cleaning charges in customer invoices ; and (vi) US$ 6 million other revenues from electrical works and other businesses. • Operating costs decreased by US$ 76 million as if December 2020 and are mainly explained by US$ 111 million from lower conversion effects of the devaluation of the Colombian peso against the US dollar. This was partially offset by (i) a US$10 million increase in energy purchases, mainly due to higher average energy prices, due to low water reserves in the first half of 2020; (ii) a US$ 17 million increase in energy transport costs caused by the entry of new construction units into the national transmission system (STN); and (iii) US$ 8 million, for higher costs of other provisions and services mainly for contributions to regulatory bodies, higher taxes, line connections and maintenance charges. • Personnel expenses increased by US$ 8 million and are mainly explained by (i) the US$ 11 million Transition Fund for employee benefits and (ii) US$ 3 million in increased salary adjustment expenses and additional benefits under the Collective Agreement. Partially offset by the US$ 6 million devaluation of the Colombian peso against the US dollar. • Other expenses by nature decreased by US$ 1 million, mainly due to US$ 13 million from the conversion effects stemming from the devaluation of the Colombian peso against the US dollar offset by US$ 12 million mainly from third party service costs for line and network maintenance and other services. In quarterly terms, the EBITDA of our distribution segment in Colombia totaled US$129 million in the fourth quarter of 2020, recording a decrease of US$24 million compared to the fourth quarter of 2019, mainly explained by: (i) US$ 8 million devaluation of the Colombian peso against the US dollar; (ii) a US$ 7 million increase in energy purchases, mainly caused by higher average energy prices; (iii) US$ 5 million less in revenue mainly as a result of the collaboration contract with Colpatria "Open Book"; and (iv) a US$ 11 million increase in staff spending mainly from the provision of the Transiten Fund. This was partially offset by: a US$ 7 million increase in energy sale revenue explained by increased physical sales per (+31 GWh) and better average sale price. Energy Losses (%) Subsidiaries Codensa Total Distribution Business December 2020 December 2019 7,6% 7,6% 7,7% 7,7% % Change (1,3%) -1,3% December 2020 3,62 3,62 Clients (million) December 2019 3,53 3,53 % Change 2,5% 2,5% 423 Annual Report Enel Américas 2020 Peru: Subsidiaries Enel Distribución Perú Accumulated figures Quarterly figures FY 2020 FY 2019 Change % Change 4Q 2020 4Q 2019 Change % Change 215 257 (42) (16.6%) 52 52 62 62 (11) (15.2%) (11) (15.2%) EBITDA Distribution Business 215 257 (42) (16.6%) EBITDA of our subsidiary Enel Distribución Peru reached US$ 215 million as of December 31, 2020, representing a US$ 42 million decrease as compared to the same period of the previous year. The variables that explain this decrease are detailed below: • Operating revenues in Enel Distribución Peru decreased by US$ 64 million mainly explained by (i) US$ 42 million from lower conversion effects, of the devaluation of the new Peruvian sol against the US dollar; (ii) US$ 19 million lower energy sales explained by a decrease in physical sales (-633 GWh), equivalent to US$ 88 million, for lower energy consumption due to the COVID-19health emergency offset by a US$ 69 million increase in average energy prices due to energy power billing; and (iii) US$ 3 million less in revenues due to traditional businesses such as: connections, complementary services as well as in retail activities and lower contributions to regulating bodies. . • Operating costs decreased by US$ 20 million, mainly explained by: US$ 27 million for lower conversion effects from the devaluation of the new Peruvian sol. This was partially offset by US$ 7 million in higher energy purchases mainly explained by higher energy purchases resulting from the increase in the average purchase price due to the upgrade of energy purchase indexers totaling US$ 52 million, partially offset by lower physical energy purchases of US$ 45 million (-609 GWh), due to the COVID-19health emergency. • • Enel Distribución Peru's personnel expenses decreased by US$ 2 million due to the conversion effects linked to the devaluation of the new Peruvian sol. Enel Distribución Peru's other expenses by nature increased by US$ 2 million, mainly due to higher fixed operating and maintenance services costs of US$ 4 million, offset by US$ 2 million conversion effect of the devaluation of the new Peruvian sol against the US dollar. EBITDA for the fourth quarter of 2020 of our distribution subsidiary in Peru reached US$ 52 million, representing a US$ 11 million decrease as compared to the same quarter of the previous year. This variation is mainly explained by: (i) US$ 4 million from lower conversion effects of the devaluation of the new Peruvian sol against the US dollar; and (ii) a US$ 10 million increase in energy purchases due to average energy purchase price of US$ 14 million, offset by lower physical energy purchases of US$ 4 million (-59.2 GWh), due to the COVID-19health emergency. This was partially offset by: (i) US$ 2 million more in revenue from energy sales mainly due to the increase in the average price of energy sale; and (ii) US$ 3 million more in revenue from other services, mainly greater recognition of network movement for the Espejo Chillón works. Subsidiaries Enel Distribución Perú Total Distribution Business Energy Losses (%) December 2019 8,2% % Change 7.3% 8,2% 7.3% December 2020 8,8% 8,8% Clients (million) December 2019 1.43 1.43 December 2020 1.46 1.46 % Change 1.5% 1.5% 424424 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationDepreciation, Amortization, Impairment Below we present a summary of EBITDA, Depreciation, Amortization and Impairment Expenses, and EBIT for Enel Américas Group´s subsidiaries in quarterly and cumulative terms as of December 31, 2020 and 2019. Depreciation, amortization and impairment FY 2020 Accumulated figures (million US$) EBIT EBITDA Depreciation, amortization and impairment FY 2019 (87) (24) (67) (64) 53 273 606 208 245 321 710 322 (90) (33) (74) (67) EBITDA 140 297 673 272 EBIT 155 288 636 255 Segment Generation and Transmission: Argentina Brazil Colombia Peru Total Generation and Transmission 1,383 (241) 1,141 1,597 (264) 1,333 Distribution: Argentina Brazil Colombia Peru Total Distribution 50 1,087 507 215 1,859 (118) (533) (132) (72) (855) (68) 554 375 143 1,004 307 1,383 557 257 2,504 (96) (677) (126) (61) (960) 211 706 431 196 1,544 Less: consolidation adjustments and other activities (87) (4) (91) (107) (3) (111) Total Consolidated Enel Américas 3,154 (1,100) 2,053 3,993 (1,227) 2,767 Segment Generation and Transmission: Argentina Brazil Colombia Peru Total Generation and Transmission Distribution: Argentina Brazil Colombia Peru Total Distribution Less: consolidation adjustments and other activities Total Consolidated Enel Américas 25 131 161 72 388 23 387 129 52 590 (21) 957 Depreciation, amortization and impairment 4Q 2020 EBITDA Quarterly figures (million US$) EBIT EBITDA Depreciation, amortization and impairment 4Q 2019 (19) (5) (18) (18) (60) (51) (127) (28) (21) (227) 6 126 143 54 328 (28) 260 101 31 363 84 70 155 102 411 36 397 153 62 648 (30) (8) (19) (17) (74) (27) (270) (26) (15) (338) EBIT 54 62 136 85 337 9 127 127 47 310 (1) (22) (37) (3) (40) (288) 670 1,023 (416) 608 425 Annual Report Enel Américas 2020Depreciation, amortization, and impairment reached US$ 1,100 million for period ended on December 31, 2020, with a US$ 127 million decrease. This variation is mainly explained by: • Depreciation and amortization totaled US$ 858 million, a decrease of US$ 90 million compared to December 2019. This is mainly explained by: (i) US$ 42 million in Enel Distribución Sao Paulo mainly due to the US$ 49 million conversion effects of the devaluation of the Brazilian real, offset by higher depreciations of US$ 7 million, due to greater investments during the period; (ii) US$ 21 million in Enel Distribución Rio, mainly due to US$ 25 million from the conversion effects of the devaluation of the Brazilian real and offset by higher depreciations of US$ 4 million; (iii) US$ 14 million in Distribución Goias, mainly due to the conversion effects of the devaluation of the Brazilian real totaling US$ 20 million, offset by US$ 6 million in higher depreciations due to higher activations; and (iv) US$ 8 million in Enel Distribución Ceará mainly due to US$ 18 million from the conversion effects of devaluation of the Brazilian real offset by US$ 10 million higher depreciations due to greater activations. At the same time, impairment losses due to the application of IFRS 9, on financial assets, totaled US$ 242 million as of December 2020, which represents a US$ 37 million decrease from 2019, which is mainly explained by: (i) US$ 92 million in Enel Distribución Goiás a decrease stemming from the fact that in 2019 there was a deterioration associated with accounts receivable to the state of Goiás, concerning the Goiás Distribution Contribution Fund (FUNAC); and (ii) US$ 54 million mainly for the conversion effects of functional currencies with respect to the US dollar for. This was offset by a higher accumulated debt as a result of COVID-19, highlighting the following: US$ 39 million in Enel Distribución Rio, US$ 28 million in Enel Distribución Ceará, US$ 20 million in Enel Distribución Sao Paulo, US$ 11 million in Codensa and US$ 10 million in Enel Distribución Peru. In relation to the fourth quarter of 2020, depreciation, amortization, and impairment reached US$ 288 million, recording a US$ 128 million decrease as compared to the same quarter in 2019. This variation is mainly explained by: A US$ 55 million decrease in depreciation and amortization mainly from: the conversion effects of functional currencies in the countries in which we operate, mainly in subsidiaries in Brazil for US$ 32 million and in Argentina for US$ 18 million. Similarly, impairments recognized by IFRS 9 decreased by US$ 73 million, mainly from distribution subsidiaries in the different countries where the group is present, detailed as:(i) a US$ 92 million decrease in Enel Distribución Goiás, mainly due to the provision of accounts receivable accounted for in 2019, associated with the Goiás Distribution Contribution Fund (FUNAC); and (i) US$ 26 million conversion effect for the devaluation of the Brazilian real and the Argentine peso against the US dollar. The above was offset by an increase in receivables in Enel Distribution Rio of US$ 26 million; and US$ 18 million in Edesur, both for COVID-19 effects. 426426 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information NON-OPERATING REVENUES: The following table presents the non-operating consolidated income of Enel Américas, broken down by country, in cumulative and quarterly terms as of December 31, 2020 and 2019. Accumulated figures (million US$) Quarterly figures (million US$) FY 2020 FY 2019 Change % Change 4Q 2020 4Q 2019 Change % Change NON OPERATING INCOME CONTINUING OPERATIONS Financial Income Argentina Brazil Colombia Peru Consolidation adjustments and other activities Total Financial Income Financial Costs Argentina Brazil Colombia Peru Consolidation adjustments and other activities Total Financial Costs Foreign currency exchange differences, net Argentina Brazil Colombia Peru Consolidation adjustments and other activities Total Foreign currency exchange differences, net 86 211 14 7 3 321 (148) (415) (132) (31) (42) (768) 52 (89) (1) (1) 97 57 122 291 12 9 16 450 (189) (679) (152) (39) (29) (1,088) 104 14 - - 20 137 (36) (80) 2 (2) (13) (29.5%) (27.5%) 16.7% (22.2%) (81.3%) 45 91 3 2 (1) (128) (28.5%) 140 41 264 20 8 (13) 319 (52) (103) (1) (1) 77 (80) (21.7%) (38.9%) (13.2%) (20.5%) 44.8% (29.4%) (50.0%) (735.7%) 0.0% 0.0% 385.0% (58.3%) Total results by adjustment units (hyperinflation - Argentina) 77 124 (48) (38.4%) Net Financial Income Enel Américas (313) (377) 63 (16.8%) Other gains (losses): Argentina Brazil Colombia Peru Consolidation adjustments and other activities Total Other gains (losses) Share of profit (loss) of associates accounted for using the equity method: Argentina Brazil Colombia Peru Less: consolidation adjustments and other activities Total Share of profit (loss) of associates accounted for using the equity method Total Non Operating Income - 1 - 4 - 5 3 - - - - 3 8 1 2 - 11 - 14 - - - - - - 14 (1) (1) - (7) - (9) 3 - - - - 3 (6) (100.0%) (50.0%) 0.0% 100.0% 0.0% (67.1%) 100.0% 0.0% 0.0% 0.0% 0.0% 100.0% (42.9%) (71) (117) (27) (7) (16) (238) 21 56 3 (2) (28) 50 19 (28) - - - 1 - 1 - - - - - - 1 Net Income Before Taxes 1,748 2,406 (658) (27.4%) 642 Income Tax Argentina Brazil Colombia Peru Less: consolidation adjustments and other activities Total Income Tax Net Income after taxes Net Income attributable to owners of parent Net income attributable to non-controlling interest Financial Income (36) (148) (287) (92) (4) (567) 1,181 825 356 (132) 314 (302) (125) 10 (236) 2,170 1,614 556 96 (462) 15 33 (14) (331) (989) (789) (200) (72.7%) (147.1%) (5.0%) (26.7%) (140.0%) 139.7% (45.6%) (48.9%) (35.9%) 5 (116) (73) (25) (1) (210) 432 339 94 23 59 1 2 5 90 (6) (113) (36) (9) (7) (171) 15 7 2 - 5 29 0 (51) 1 2 - 11 - 14 - - - - - - 14 572 (13) 501 (77) (34) - 377 948 792 156 22 32 2 - (6) 50 95.7% 54.2% 200.0% 0.0% (120.0%) 55.9% (65) 1083.3% (4) 9 2 (9) (67) 6 49 1 (2) (33) 21 19 24 (1) (2) - (10) - (13) - - - - - - 3.5% (25.0%) (22.2%) 128.6% 39.4% 40.0% 700.0% 50.0% 100.0% (660.0%) 70.5% 100.0% (44.4%) (100.0%) (100.0%) 0.0% 100.0% 0.0% (92.9%) 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% (13) (94.7%) 72 12.3% 18 (617) 4 9 (1) (587) (516) (454) (62) (138.5%) (123.2%) (5.2%) (26.5%) (100.0%) (155.7%) (54.4%) (57.3%) 40.0% Financial income reached a US$ 313 million loss as of December 31, 2020 which represents a US$ 63 million decrease in relation to the previous year. The foregoing is mostly explained by: 427 Annual Report Enel Américas 2020• US$ 128 million less in financial revenues mainly explained by: (i) US$ 32 million less in revenues attributable to US$ 27 million in Enel Distribución Sao Paulo, mainly due to the conversion effects by the devaluation of the Brazilian real against the US dollar and US$ 5 million less revenues for lower returns on financial investments; (ii) US$ 16 million less in revenues in Enel Distribución Rio, for conversion effects by devaluation of the Brazilian real against the US dollar; (iii) US$ 6 million less in revenue in Enel Cien, mainly from lower income from financial updates in PIS/COFINS taxes; (iv) US$ 17 million less revenue in Enel Generación Fortaleza mainly from financial updates of PIS/COFINS taxes on ICMS recorded in 2019 for US$ 13 million; (v) US$ 12 million less revenue in Edesur, mainly from the conversion effects from the devaluation of the Argentine peso against the US dollar totaling US$ 4 million and lower interest charged on customer default totaling US$ 7 million; (vi) less in revenues in our generation subsidies in Argentina of US$ 26 million, mainly from the conversion effects of the devaluation of the Argentine peso against the US dollar totaling US$ 19 million and lower interest related to the accounts receivable in VOSA totaling US$ 30 million, offset by financial income for investment revaluation for change in the ownership of Central Térmica Manuel Belgrano and Central Térmica San Martín for US$ 25 million; and (vii) US$ 12 million less in revenues in Enel Américas mainly from lower financial placements. . During the fourth quarter of 2020, financial income increased by US$ 50 million, mainly explained by: (i) US$ 33 million of more in revenues in the Enel Brasil Group, mainly explained by a US$ 57 million increase in update of financial assets associated with assets concessioned under IFRS 12 offset by US$ 25 million from the conversion effects of the devaluation of the Brazilian real against the US dollar and (ii) US$ 20 million more revenues in our generation subsidiaries in Argentina mainly due to US$ 25 million financial income from the revaluation of investments due to the change in the ownership of Central Térmica Manuel Belgrano and Central Térmica San Martín for and a US$ 10 million increase in financial investment returns offset by US$ 15 million from the conversion effects related to the devaluation of the Argentine peso against the US dollar. • US$ 319 million less in financial expenses mainly attributable to: (i) US$ 160 million less financial expenses in Enel Brasil mainly related to the debt with Enel Finance International and which was paid on July 7, 2019 totaling US$ 151 million and US$ 9 million for the conversion effects of the devaluation of the Brazilian real; (ii) US$ 49 million les in expenses in Enel Distribución Sao Paulo, mainly US$ 53 million from the effects of the devaluation of the Brazilian real offset by US$ 4 million higher expenses for updates of civil and labor contingencies; (iii) US$ 27 million les in expenses in Enel Distribución Rio mainly US$ 28 million in conversion effects ; (iv) US$ 27 million less in expenses in Enel Distribución Goias mainly US$ 20 million from the conversion effects of the devaluation of the Brazilian real against the US dollar and US$ 7 million less in bank debt expenses of; (v) US$ 14 million less in expenses in Enel Distribución Ceará mainly US$ 12 million from the conversion effects of the devaluation of the Brazilian real for the same period of the previous year; (vi) US$ 16 million less in expenses in Enel Generación Costanera mainly US$ 11 million less in expenses for the debt to Cammesa and US$ 5 million conversion effects of the devaluation of the Argentine peso against the US dollar; (vii) US$ 16 million les in expenses in Enel Generación el Chocón mainly for lower debt expenses with Cammesa; (viii) US$ 20 million less in expenses in Edesur mainly US$ 60 million of the devaluation of the Argentine peso against the USdollar, offset by US$ 40 million more in expenses for updates of fines and debt to Cammesa; (ix) US$ 12 million les in expenses in Emgesa for the US$ 10 million conversion effects of the devaluation of the Colombian peso against the dollar and US$ 2 million less in bank debt expenses; and (x) US$ 8 million less in expenses in Codensa mainly for the conversion effects of the Colombian peso of US$ 7 million and US$ 2 million les in financial debt. This was partially offset by: (i) US$ 14 million more in expenses in EGP Cachoeira Dourada mainly from a US$ 19 million increase in the GSF guarantee update according to Brazilian electricity regulations offset by US$ 7 million from the conversion effects of the devaluation of the Brazilian real against the US dollar; and (ii) US$ 12 million more in expenses in individual Enel Américas mainly explained by withholding tax on dividends from subsidiaries in Argentina and Peru. During the fourth quarter of 2020, financial costs increased by US$ 67 million mainly attributable to : (i) US$ 13 million EGP in Cachoeira Dourada mainly US$ 19 million due to an increase in the update of the GSF guarantee according to Brazilian electricity regulations co-recorded with US$ 3 million for conversion effect; (ii) US$ 10 million in Enel Generación Costanera due to higher interest with Cammesa; (iii) US$ 22 million in Enel Generación Chocón explained by higher interest expenses with Cammesa; and (iv) US$ 18 million in Edesur due to a US$ 57 million increase in interest on the debt to Cammesa offset by US$ 33 million for the conversion effect of the devaluation of the Argentine peso against the US dollar and US$ 6 million less in financial update of provisions. 428428 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information • US$ 80 million lower positive results from exchange differences compared to the previous year, mainly due to: (i) US$ 74 million negative exchange differences from our generation subsidiaries in Argentina, mainly relating to accounts receivable in foreign currency for VOSA credits in Argentina totaling US$ 75 million; (ii) Individual Enel Brasil reaching US$ 42 million related to US$ 56 million updates for service providers, offset by US$ 14 million from the conversion effect of the devaluation of the Brazilian real against the US dollar. This is partially offset by US$ 34 million less in negative exchange differences in Enel Américas mainly due to lower domestic currency placements made in 2019 during the capital increase process. • During the fourth quarter of 2020, exchange differences registered higher positive results of US$ 21 million net, mainly attributable to: (i) US$ 10 million in Enel Distribución Sao Paulo, from the hedging derivatives of US$ 12 million offset by US$ 2 million conversion effect; and (ii) US$ 11 million in individual Enel Brasil, also related to existing US$ 14 million hedging derivatives until 2019 offset by US$ 3 million from the conversion effect. • The adjustments results decreased by US$ 47 million and correspond to the financial results generated by the implementation of IAS 29 Financial Information in Hyperinflationary Economies in Argentina. They reflect the net balance that arises from applying inflation to non-monetary assets and liabilities and income statements that are not determined on an updated basis, converted to US dollars at closing exchange rates. • During the fourth quarter of 2020, readjustment results decreased by US$ 19 million and correspond to the financial results generated by the implementation of IAS 29 Financial Information in Hyperinflationary Economies in Argentina. CORPORATE TAXES The gains tax levied on companies’ profits reached US$ 567 million in cumulative terms as of December 31, which represents a US$ 330 million increase from the previous year, (i) mainly due to US$ 538 million higher expenses in Enel Distribución Sao Paulo of which US$ 553 million originated from deferred tax profit recorded in 2019, which arose from the merger with Enel Sudeste, offset by US$ 15 million from the effects of devaluation of the Brazilian real against the US dollar ; and (ii) US$ 13 million higher expenses in Central Dock Sud explained by a tax benefit from the revaluation of its non-monetary tax assets and liabilities, recorded in 2019 totaling US$ 25 million offset by US$ 12 million conversion effects of the Argentine peso against the US dollar. This is partially offset by: (i) US$ 47 million less in expenses in Enel Cien mainly explained by US$ 30 million lower financial results compared to the previous year and US$ 17 million higher expenses in 2019 originating from punishable receivables; (ii) US$ 31 million less in expenses in Enel Distribución Rio mainly explained by lower financial results; (iii) US$ 54 million less in expenses in Edesur, mainly from lower financial results originating in regulatory assets and liabilities recorded as a profit in 2019 and totaling US$ 44 million plus US$ 10 million conversion effects of the Argentine peso against the US dollar; (iv) US$ 14 million less in expenses in Enel Generación Peru mainly for provision of legal contingencies with Electroperú; (v) US$ 17 million less in expenses in Enel Distribution Peru due to lower financial results; (vi) US$ 24 million less in expenses in Codensa due to US$ 12 million less in financial results and US$ 12 million less in effects from the devaluation of the Colombian peso against the US dollar; and (vii) US$ 33 million less in expenses in Enel Generación Costanera mainly explained by US$ 36 million less in financial results and offset by US$ 3 million conversion effects of the Argentine peso against the US dollar. In the fourth quarter of 2020, corporate gains tax reached US$ 210 million, representing a US$ 586 million increase in relation to the same quarterly period of the previous year, mainly explained by: (i) US$ 575 million higher expenses in Enel Distribución Sao Paulo of which US$ 553 million originated from the deferred tax in 2019 arising from the merger with Enel Sudeste, for better financial results of US$ 12 million and US$ 10 million from the conversion effects of the Brazilian real against the US dollar; (ii) US$ 54 million higher expenses in Enel Distribution Goías mainly explained by US$ 56 million better financial results compared to the same quarter of the previous year offset by US$ 2 million in the conversion effects of the Brazilian real against the US dollar; and (iii) US$ 21 million higher expenses in EGP Cachoeira Dourada due to US$ 28 million from better financial results offset by US$ 7 million from the conversion effects of the Brazilian real against the US dollar. All of the above partially offset by less in expenses: (i) US$ 49 million in Enel Cien for lower financial results of US$ 55 million, offset by US$ 6 million from the conversion effects of the Brazilian real against the US dollar; and (ii) US$ 20 million less in expenses in Edesur mainly US$ 22 million for lower financial results offset by US$ 2 million from the conversion effects of the Argentine peso against the US dollar. 429 Annual Report Enel Américas 20202. ANALYSIS OF THE FINANCIAL STATEMENT Assets Current Assets Non current Assets Total Assets December 2020 December 2019 Change % Change 6,179 20,754 (US$ million) 6,581 23,195 (402) (2,441) 26,934 29,776 (2,843) (6.1%) (10.5%) (9.5%) Enel Américas' total assets as of December 31, 2020 decreased by US$ 2,843 million compared to the total assets as of December 31, 2019, mainly as a result of: Current Assets decreased by US$ 402 million, equivalent to 6.1% mainly explained by: • A US$ 432 million decrease in cash and cash equivalents consisting mainly of: (i) US$ 2,426 million in net operating revenues flow attributable to charges for sales and services, net of payment to suppliers and others, (ii) US$ 1,187 million net outflows for financing activities attributable to: obtaining finance totaling US$ 1,646 million, attributable to bank loans. US$ 294 million for loans from related companies divided as US$ 150 million Enel Finance International (EFI) to Enel Américas and US$ 144 million Enel Finance International (EFI) to Enel Distribución Rio. This was partially offset by: (i) US$ 1,776 million loan payments which includes US$ 1,220 million of bank loans, US$ 486 million of bonds and US$ 69 million from other sources of financing; (ii) US$ 1,057 million in payment of dividends; (iii) US$ 327 million interest payment ; (iv) US$ 77 million payments of liabilities for financial leases and; (v) US$ 110 million in other cash income; (iii) US$ 1,536 million net outflows from investment activities attributable to: disbursements for the incorporation of plant and equipment properties of US$ 814 million, US$ 740million payments for incorporation of intangible assets, US$ 216 million in investments over 90 days and US$ 5 million for payments of derivative contracts. These investment cash outflows were offset by US$ 43 million in interest received, US$ 176 million in investment rescue over 90 days and collections from repayments of advances and loans granted to third parties totaling US$ 21 million; and (iv) a US$ 135 million decrease as a result of the variation in cash exchange rates and cash equivalents. • A US$ 110 million increase of other current financial assets mainly attributable to placements for 90 + days, according as per the following detail: (i) Enel Distribución Rio of US$ 59 million, (ii) Enel Distribución Ceará of US$ 11 million, (iii)) Edesur US$ 23 million and (iv) Enel Generación Costanera US$ 25 million. • A US$ 75 million increase in Other Current non-financial assets mainly attributable to higher taxes to recover from PIS and COFINS in our Brazilian subsidiaries totaling US$ 55 million; and US$ 35 million higher anticipated expenses. This was partially offset by US$ 20 million from the conversion effects of foreign currencies against the US dollar. • A US$ 270 million decrease in Commercial Receivables and other current receivables mainly explained in some of our Brazilian subsidiaries as a result of the effects of the devaluation of the Brazilian real against the US dollar totaling US$ 569 million; additionally, attributable to lower accounts to be charged mainly for lower physical sales in (i) Enel Distribución Sao Paulo of US$ 53 million, (ii) Enel Distribución Ceará of US$ 54 million and (iii) Enel Distribution Rio of US$ 9 million. All of the above was partially offset by higher receivables: (i) US$ 354 million in EGP Cachoeira Dourada due to higher average sales prices, and (ii) US$ 49 million Enel Distribución Goiás due to increased physical sales. • A US$ 75 million stock increase mainly attributable to greater stock of spare parts and electrical materials in: (i) US$ 39 million in Grupo Enel Brasil, (ii) US$ 15 million in Codensa, (iii) US$ 17 million in Central Dock Sud. 430430 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information A US$ 2,441 million decrease in Non-Current Assets equivalent to 10.5%, mainly in: • A US$ 259 million decrease in other non-current financial assets mainly explained by the effects of the devaluation of the Brazilian real against the US dollar which mainly affected receivables from the application of IFRS 12 in Brazilian distribution companies totaling US$ 543 million, offset by a US$ 260 million increase related to the same concept of IFRS 12. Furthermore, a US$ 25 million increase in Enel Generación Costanera, Enel Generación El Chocón and Central Dock Sud due to the recognition at fair value with changes in results of the Belgrano and San Martin Thermoelectric Plants, reclassified from investments in related companies. • A US$ 403 million decrease of other non-current non-financial assets mainly explained by the effects of the Brazilian real devaluation against the US dollar of US$ 598 million and US$ 78 million lower taxes on recovering from PIS and COFINS for short-term transfer in Enel Distribución Ceará and US$ 46 million from the transfer of assets under construction to fixed asset in Enel Distribución Rio. This was partially offset by a US$ 288 million increase in Enel Distribución Sao Paulo, for recognition of PIS and COFINS taxes and for an increase in transfers of assets under construction to fixed asset Enel Distribución Goiás totaling US$ 42 million. • A US$ 1,003 million decrease in intangible assets other than capital gains composed mainly of (i) a US$ 1,216 million decrease in the effects of the conversion to US dollars from the functional currencies of each subsidiary, (ii) US$ 392 million amortization, (iii) US$ 226 million other decreases mainly for transfers to financial assets the company variation to recover at the end of the concession due to the application of IFRIC 12. This was partially offset by a US$ 821 million increase in new investments and US$ 10 million for others. • • US$ 228 million decrease in goodwill mainly explained by the effects of conversion to US dollar from the functional currencies of each subsidiary. A US$ 409 million decrease in properties, plants and equipment consisting mainly of (i) a US$ 982 million decrease due to the effects of conversion to US dollars from the functional currencies of each subsidiary, (ii) US$ 445 million depreciation and impairment losses, and (iii) US$ 60 million in other decreases. The above partially offset by (i) US$ 607 million increase from new investments, and (ii) US$ 471 million in other inflation increases stemming from the application of IAS 29 in our Argentine subsidiaries. • A US$ 94 million decrease in Assets from Deferred Taxes explained mainly by the conversion effects to US dollars from the functional currencies of each subsidiary. December 2020 December 2019 Change % Change Liabilities and Equity Current Liabilities Non Current Liabilities Total Equity Attributable to owners of parent company Attributable to non-controlling interest 7,277 9,323 10,334 8,106 2,228 (US$ million) 6,736 10,794 12,246 9,966 2,280 541 (1,472) (1,912) (1,860) (52) 8.0% (13.6%) (15.6%) (18.7%) (2.3%) Total Liabilities and Equity 26,934 29,776 (2,842) (9.5%) Total Enel Américas liabilities and assets as of December 31 30, 2020 decreased by US$ 2,842 million as compared to December 2019, mainly as a result of: Current Liabilities decreased by US$ 541 million, mainly explained by: • A US$ 417 million increase in other current financial liabilities explained primarily by: (i) a US$ 310 million increase in Enel Distribución Sao Paulo mainly due to long-term debt transfers of US$ 223 million, a US$ 65 million increase in financial debt with Fundación Cesp for voluntary migration by employees to a specified contribution plan, US$ 39 million acquisition of new loans net of their payments and accrued interest. This was partially offset by US$ 17 million due to the conversion of the devaluation of the Brazilian real against the US dollar; (ii) a US$ 66 million, 431 Annual Report Enel Américas 2020 increase in Enel Distribución Ceará from attracting new loans of US$ 54 million net of their payments and accrued interest, plus US$ 34 million long-term transfer effect offset by US$ 22 million conversion effects of the devaluation of the Brazilian real against the US dollar; (iii) a US$ 164 million increase in Emgesa mainly from US$ 156 million long-term transfer of bonds, net of their payments and US$ 8 million for the conversion effects to US dollar from functional currencies; (iv) a US$ 120 million increase in Codensa from the acquisition of new loans US$ 6 million due to theeffects of of US$ 114 million net of payments and transfers over long term and the conversion to US dollar from the functional currency; (v) US$ 148 million increase in Enel Peru from the US$ 153 million acquisition of new loans offset by US$ 5 million from the conversion effects of the new Peruvian sol against the US dollar; (vi) a US$ 25 million increase in Enel Generación Piura from new loans. This was partially offset by decreases in; (i) US$ 289 million Enel Distribución Goiás mainly for US$ 388 million credit repayments net change of US$ 68 million; US$ 77 million for the conversion effects to US dollar from the functional currency, offset by US$ 176 million long-term debt transfers; ( (ii) US$ 42 million Enel Distribución Rio mainly for US$ 50 million from the conversion effects to US dollar from the functional currency partially offset by long-term transfer of bank loans of US$ 176 million, US$ 39 million acquisition of new loans, the above offset by US$ 207 million loan payments; (iii) US$ 60 million Enel Generación Fortaleza mainly for loan payments of US$ 47 million net exchange rate effect of US$ 12 million, and US$ 13 million for the conversion effects to US dollar from the functional currency; and (iv) US$ 23 million Enel Américas mainly for credit repayments of US$ 516 million, offset by obtaining new credits of US$ 481 million and interest accrued of US$ 12 million. • A US$ 174 million increase in commercial accounts and other current payables mainly explained by increases in (i) EGP Cachoeira Dourada of US$ 346 million, mainly due to increased energy purchases of US$ 387 million offset by US$ 41 million conversion effects as a result of devaluation of the real against the US dollar; (ii) US$22 million increase in Codensa mainly due to higher accounts payable from suppliers and dividend payments of US$ 32 million offset by US$ 10 million conversion effects stemming from the devaluation of the Colombian peso against the US dollar. This was partially offset by decreases (i) US$ 74 million Distribución Sao Paulo attributable to US$ 255 million conversion effect of the devaluation of the Brazilian real against the US dollar, offset by US$ 181 million, which correspond to higher accounts payable for energy purchases and suppliers net of provisions and transfers from long term; (ii) US$ 49 million in Enel Distribución Rio mainly US$ 73 million conversion for the devaluation of the real, offset by US$ 24 million higher accounts payable for energy purchases and suppliers net of provisions and long-term transfer; (iii) US$ 39 million in Enel Distribución Ceará which includes US$ 72 million conversion for the devaluation of the real, offset by US$ 33 million higher accounts payable for energy purchases and suppliers net of provisions and long-term transfer; (iv) US$ 18 million in Enel Distribución Peru attributable to lower accounts payable from suppliers; and (v) US$ 15 million in Enel Américas mainly for payment of dividends to third parties. • A US$ 106 million increase in current accounts payable to related entities mainly (i) a US$ 150 million increase attributable to loan obtained by Enel Américas from Enel Finance International (EFI); (ii) a US$ 22 million increase in accounts payable for energy purchase from EGP subsidiaries in Colombia and Brazil; and (iii) US$ 53 million higher accounts payable to Enel Global Services, for technical and IT services. This was partially offset by US$ 116 million less in accounts payable attributable to lower dividend payments to Enel SpA. • A US$ 66 million decrease in other current provisions mainly related to the subsidiary Enel Distribución Sao Paulo of US$ 67 million, of which US$ 32 million stem from the conversion effects of the devaluation of the Brazilian real and US$ 35 million from the payment of labor and civil provisions. • A US$ 54 million decrease in other current non-financial liabilities explained by: a decrease (i) in Enel Distribución Sao Paulo of which US$ 26 million is attributable to the conversion effects from the devaluation of the Brazilian real and US$ 8 million for tax payments related to PIS/COFINS and ICMS; (ii) US$ 12 million in Enel Distribución Ceará of which US$ 6 million is attributable to the conversion effects for the devaluation of the Brazilian real and US$ 6 million to tax payments; and (iii) US$ 8 million in Enel Distribución Rio is attributable to US$ 5 million from the conversion effects for the devaluation of the Brazilian real and US$ 3 million in tax payments. 432432 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information Non-Current Liabilities decreased by US$ 1,472 equivalent to 13.6% of the variation explained mainly by: • A US$ 944 million decrease in other non-current financial liabilities (financial and derivative debt) mainly explained by (i); a US$ 203 million decrease in Enel Distribución Sao Paulo of which US$ 202 million is explained by the conversion effect of the devaluation of the Brazilian real against the US dollar; additionally a US$ 112 million increase in financial debt with Fundación Cesp by the voluntary migration made by employees to a specific contribution plan which was fully offset by short-term transfers of bond debt; (ii) a US$ 189 million decrease in Enel Distribution Goiás explained by US$ 176 million for short-term transfer of bank loans and US$ 61 million from the conversion effects related to the devaluation of the Brazilian real, offset by US$ 48 million new financing and exchange rate effects for foreign currency debt; (iii) a US$ 216 million decrease in Enel Distribución Rio which includes US$ 118 million conversion effects of the devaluation of the Brazilian real and US$176 million for transfer of short-term bank loans, offset by US$ 38 million in new acquisition and greater exchange rate effects of US$ 40 million for foreign currency debt; (iv) US$ 133 million decrease in Enel Distribución Ceará mainly due to US$ 102 million from the conversion effects from the devaluation of the Brazilian real by and US$ 34 million short-term transfers of bank loans; (v) a US$ 49 million decrease in Enel Green Power Volta Grande mainly due to the conversion effects from the devaluation of the Brazilian real; and (vi) a US$ 273 million decrease in Emgesa mainly by short-term bond transfer of US$ 223 million and US$ 50 million from the devaluation of the Colombian peso against the US dollar. This was partially offset by a $121 million increase in Codensa mainly for new acquisitions, net of short-term transfers of $134 million bonds offset by US$ 13 million from the conversion effects of the Colombian peso from the US dollar. • A US$ 275 million commercial accounts and other non-current payable accounts explained by (i) a US$ 527 million decrease due to the effects of the devaluation of the various currencies in which we operate against the US dollar; (ii) a US$ 62 million decrease in Enel Distribución Goiás mainly from short-term transfers of accounts payable by energy suppliers and PIS COFINS tax; (iii) US$ 23 million in Enel Distribución Ceará mainly from short- term transfer of PIS and COFINS effect and accounts payable; and (iv) in Edesur US$ 20 million less in accounts payable to CAMMESSA and other accounts payable. This was partially offset by a US$ 352 million increase in Enel Distribución Sao Paulo mainly for PIS and COFINS taxes and accounts payable for net energy from its long-term transfers. • • A US$ 144 million increase in ccounts payable to non-current related explained by loan from Enel Finance International (EFI) to Enel Distribución Rio. A US$ 142 million decrease in non-current provisions explained mainly by the conversion effects of the US dollar from the functional currencies of each subsidiary, as follows (i) US$ 81 million in Enel Distribución Sao Paulo; and (ii) US$ 69 million in Enel Distribución Goiás. Furthermore, US$ 23 million less in de-committee provisions in Enel Generación Peru. This was partially offset by a US$ 27 million increase in Enel Distribución Sao Paulo for greater provisions of labor and civil litigation. • A US$ 212 million decrease in provisions for benefits to non-current employees explained mainly by our Brazilian subsidiary Enel Distribución Sao Paulo totaling US$ 201 million which includes the US$ 339million effects of the conversion of the Brazilian real against the US dollar, and US$ 177 million transfer to short- and long-term financial debt as a result of voluntary migration by employees to a specific contribution plan to Fundación Cesp. This was partially offset by an annual update of its actuarial values as a product of the application of IAS 9 totaling US$ 315 million. 433 Annual Report Enel Américas 2020 Total Equity decreased by US$ 1,912 million, explained by: • Equity attributable to the property (shareholders) of the controller decreased by US$ 1,860 million mainly as follows: (i) decrease in initial capital US $ 21 million corresponding to share issuance and placement expenses made during 2019, which were charged to capital during the current year, after approval at the Extraordinary Shareholders' Meeting held in December 2020 (ii) a US$ 1,781 million decrease in other reserves mainly due to conversion differences of US$ 2,025 million, US$ 8 million for cash flow hedging reserves, offset by the US$ 252 million application of IAS 29 "hyperinflationary economies" in Argentina; (iii) a US$ 570 million decrease for dividend payment and (iv) a US$ 313 million decrease in reserves for the application of IAS 19 "Employee benefits", due to recording actuarial losses. This is partially offset by a US$ 825 million increase in profits for the period. • Non-controlling shareholding decreased by US$ 52 million mainly explained by (i) a US$ 306 million decrease in dividend payments: and (ii) a US$ 226 million decrease in comprehensive results mainly due to conversion differences. These effects were offset by: (i) US$ 356 million in profits for the period; and (ii) a US$ 124 million increase of several other reserves due to the application of IAS 29 "hyperinflationary economies" in Argentina. The development of the main financial indicators is as follows Liquidity Financial Indicator Current liquidity (1) Acid ratio test (2) Working Capital Leverage (3) Short Term Debt (4) Long Term Debt (5) Leverage Financial Expenses Coverage (6) Operating Income/Operating Revenues ROE (annualized) (7) Profitability ROA (annualized) (8) Unit Times Times MMUSD Times % % Times % % % December 2020 December 2019 December 2019 Change 0.98 0.92 (155) 1.43 38.4% 61.6% 0.85 0.78 (1.098) 1.61 43.8% 56.2% 4.97 16.8% 9.1% 4.2% -0.13 -0.13 (943) 0.17 5.4% (5.4%) 0.14 (2.5%) (10.2%) (3.4%) 4.83 19.3% 19.3% 7.6% % Change (13.1%) (14.6%) 609.8% 12.2% 14.1% (8.8%) 2.9% (12.8%) (52.7%) (45.2%) (1) Corresponds to the ratio between (i) Current Assets and (ii) Current Liabilities. (2) Corresponds to the ratio between (i) Current Assets net of Inventories and anticipated Expenses and (ii) Current Liabilities. (3) Corresponds to the ratio between (i) Total Liabilities and (ii) Total Equity. (4) Corresponds to the proportion of (i) Current Liabilities in relation to (ii) Total Liabilities (5) Corresponds to the proportion of (i) Non-Current Liabilities in relation to (ii) Total Liabilities. (6) Corresponds to the ratio between (i) the Gross Operating Income and (ii) Net financial result of Financial Income. (7) Corresponds to the ratio between (i) Net Income attributable to owners of parent as of December 31, 2020 and (ii) the average between Equity attributable to owners of parent at the beginning of the period and at the end of the period. (8) Corresponds to the ratio between (i) total result as of December 31, 2020 and (ii) the average of total assets at the beginning of the period and at the end of the period. - The Company’s Current liquidity as of December 31, 2020 reached 0.85 times, showing a 13.1 % decrease in relation to December 2019, mostly explained by the increase in current liabilities, mainly due to the transfer of financial debt from non-current liabilities. - The Company’s Acid Test as of December 31, 2020 reached 0.78 times, showing a 14.6 % decrease in relation to December 31, 2019, also mostly explained by the increase in current liabilities, mainly due to the transfer of financial debt from non-current liabilities - The Company’s Working capital as of December 31, 2020 was (- US$ 1,098 million) showing an increase in relation to December 31, 2019 when it reached (-US$ -155 million) mostly explained by the increase in current liabilities, mainly due to the transfer of financial debt from non-current liabilities. - The Company’s Leverage (indebtedness ratio) stood at 1.61 times as of December 31, 2020, a 12.2 % increase in relation to December 31, 2019 explained by lower dominant shareholding equity as compared to the previous year, mainly because of the conversion effects of the different functional currencies in the countries in which we operate. 434434 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information - The Hedging of financial costs as of the period that ended on December 31, 2020 was 4.97 times, which represents a 2.9% increase as compared to the same period of the previous year, mainly because of improved financial results in relation to the same period of the year before. - The Return-on-equity (profitability) index, measured in terms of operating revenues over operating revenues reached 16.8 % as of December 31, 2020. - The Return-on-equity of the controller’s property owners (shareholders) reached 9.1 % representing a 52.7 % decrease as a result of a decrease in the income attributable to the property owners for the last 12 months in relation to the period before. - The Return-on-assets stood at 4.2% as of December 31, 20120 representing a 45.2 % increase mostly due to total income decrease as of December 31, 2020 in relation to the same period of the year before. 3. MAIN CASH FLOWS The Company’s net cash flows were negative as of December 31, 2020 and reached US$ 297 million which represents a US$ 402 million decrease in relation to the same period of the previous year. The main variables on account of the flows of the operation, investment and financing activities that explain this decrease in net cash flows, as compared to December 2019 are described below: Net Cash Flow December 2020 December 2019 Change % Change From Operating Activities From Investing Activities From Financing Activities Total Net Cash Flow 2,426 (1,536) (1,187) (297) (US$ million) 2,528 (1,600) (823) 105 (102) 64 (364) (4.0%) (4.0%) 44.2% (402) (382.9%) The net cash flows stemming from operating activities totaled US$ 2,426 million as of December 2020, representing a 4% decrease as compared to December of the previous year. The variation is explained by a net decrease in the types of collections for operating activities mainly in (i) US$ 3,639 less in charges from sales and service provision; (ii) US$ 441 million higher operating fees; (iii) US$ 1 million; higher charges from premiums and benefits, annuities, and other benefits of underwritten policies and (iv) $2 million less in royalty charges and commissions. These effects were partially offset by the types of Cash Payments from Operation, mainly in: (i) US$ 1,158 million less in payments to suppliers for the supply of goods and services; (ii) US$ 136 million less in employee payments; (iii) US$ 1,710 million less in payments for operating activities; (iv) for US$ 57 million less in cash outings; (v) US$ 33 million less in income tax payments; and (vi) US$ 1 million higher premium and benefit payments. The net cash flows coming from (used in) investment activities were outgoings totaling US$ 1,536 million as of December 2020, which is mainly explained by: (i) US$ 814 million disbursements for the incorporation of plant properties and equipment; (ii) US$ 740 million incorporation of intangible assets; and (iii) US$ 216 million investments of more than 90 days; and (iv) US$ 5 million for derivatives contract payments. These investment cash outflow were offset by: (i) US$ 43 million interest received; (ii) US$ 176 million rescue of investments of more than 90 days; and (iii) US$ 20 million in collections from the repayment of advances and loans granted to third parties. The net cash flows coming from (used in) financing activities were net outgoings of US$ 1,187 million as of December 2020 stemming from obtaining US$ 1,646 million financing which correspond to bank loans; US$ 294 million for related loans attributable to US$ 150 million from Enel Finance International (EFI) to Enel Américas and US$ 144 million from Enel Finance International (EFI) to Enel Distribución Rio. This was partially offset by: (i) US$ 1,776 million loan payments which includes US$ 1,220 million of bank loans, US$ 486 million of bonds and US$ 69 million from other sources of financing; (ii) US$ 1,057 million payment of dividends; (iii) US$ 327million interest payment ; (iv) US$ 77 million payments of liabilities for financial leases and; (v) US$ 110 million for other cash inflows. 435 Annual Report Enel Américas 2020 Below are the disbursements from the Incorporation of Properties, Plant and Equipment and their depreciation, for the periods of December 2020 and 2019. PROPERTY, PLANTS AND EQUIPMENT INFORMATION BY COMPANY (million US$) Payments for additions of Property, plant and equipment Depreciation Company Enel Generación Chocon S.A. Enel Generación Costanera S.A. Emgesa S.A.E.S.P. Enel Generación Perú S.A. Enel Distribución Goiás (Celg) (*) EGP Cachoeira Dourada S.A. Enel Distribución Fortaleza Enel Cien S.A. Enel Distribución Sao Paulo S.A. (Eletropaulo) (*) Edesur S.A. Enel Distribución Perú S.A. Enel Distribución Rio (Ampla) (*) Enel Distribución Ceara (Coelce) (*) Codensa S.A. Central Dock Sud S.A. Enel Generación Piura S.A. Holding Enel Americas y Sociedades de Inversión December 2020 December 2019 - - 29 86 42 233 1 9 2 186 103 127 149 173 385 7 8 14 6 108 43 187 4 19 2 221 186 165 181 173 306 34 5 18 % Change 0,0% 383,3% (20,4%) (2,3%) 24,6% (75,0%) (52,6%) 0,0% (15,8%) (44,6%) (23,0%) (17,7%) 0,0% 25,8% (79,4%) 60,0% (22,2%) December 2020 December 2019 % Change 14 42 66 49 67 5 11 8 159 74 58 83 58 116 28 12 10 15 40 74 50 81 7 14 12 201 54 57 104 65 122 31 11 10 (5.5%) 5.3% (10.5%) (2.9%) (17.5%) (29.6%) (22.8%) (37.3%) (20.9%) 36.8% 2.4% (20.3%) (11.2%) (5.3%) (9.7%) 9.1% 0.0% Total 1,553 1,659 (6,4%) 858 948 (9.5%) (*) Includes intangible assets concessions II. MAIN RISKS RELATED TO THE ACTIVITIES OF ENEL AMÉRICAS S.A. GROUP The Group’s operative subsidiaries are subject to a wide range of tariff regulations and other aspects that govern their operations in the countries in which they operate. Consequently, the introduction of new laws or regulations, such as the modification of laws or regulations currently in effect, could impact their operations, economic situation, and operating results. Such new laws or regulations sometimes modify regulatory aspects that may affect existing entitlements; which, as the case might be, may adversely affect the group’s future results. The Group’s activities are subject to wide-ranging environmental regulations that Enel Américas continuously complies with. Eventual modifications introduced to such regulations could impact its operations, economic situation and operating revenues. Enel Américas and its operative subsidiaries are subject to environmental regulations, which, among other things, require preparing and submitting Environmental Impact Studies for projects under study, obtaining licenses, permits and other mandatory authorizations and complying with all the requirements imposed by such licenses, permits and regulations. Just as with any regulated company, Enel Américas cannot guarantee that: Public authorities will approve such environmental impact studies. Public opposition will not derive in delays or modifications to any proposed project. Laws or regulations will not be modified or interpreted in a manner such as to increase expenses or affect the Group’s operations, plants, or plans. • • • 436436 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information The Group’s Commercial activity has been planned to moderate eventual impacts resulting from changes in the hydrologic conditions. Enel Américas Group’s operations include hydroelectric generation and, therefore, they depend on the hydrological conditions that exist at each moment in the broad geographical areas where the Group’s hydroelectric generation facilities are located. If the hydrological conditions generate droughts or other conditions that may negatively impact hydroelectric generation, then, the outcome will be adversely affected, reason why Enel has established -as an essential part of its commercial policy - to refrain from contractually committing 100% of its generation capacity. The electric business, in turn, is also affected by atmospheric conditions such as mean temperatures that condition consumption. Depending on weather conditions, differences may arise in the margins obtained by the business. The financial situation and commercial outcome of may be adversely affected if exposure to interest rate risk, commodities and currency exchange rates are not effectively managed. Risk management policy The companies that make up the Enel Américas Group follow the guidelines of the Risk Management Control System (RMCS) established at the Holding level (Enel Spa), which sets the guidelines for risk management through the respective standards, procedures, systems, etc., to be applied at the different levels of the Company, in the processes of identification, analysis, evaluation, treatment and communication of risks that the business must continuously face. These are approved by the Board of Directors of Enel SpA, which houses a Controls and Risks Committee which, in turn, supports the Board's assessment and decisions regarding internal controls and risk management system, as well as those related to the approval of periodic financial statements. To comply with the above, there is a specific Risk Management and Control Management policy within each Company, reviewed and approved at the beginning of each year by the Board, observing and applying local requirements in terms of risk culture. The company seeks protection for all risks that can affect achieving business objectives. A new risk taxonomy for the entire Enel Group was approved in January 2020, which considers 6 macro categories and 37 sub-categories. The Enel Group's risk management system considers three lines of action (defense) to obtain effective and efficient risk and control management. Each of these three "lines" plays a different role within the organization´s broader governance structure (business and internal control areas, acting as the first line, Risk Control, acting as second line and Audit as the third line of defense). Each line of defense has an obligation to inform and keep senior management and Directors up to date on risk management, with Senior Administration being informed by the first and second line of defense and the Board of Directors (Directors) in turn by the second and third line of defense. Within each company in the group, the risk management process is decentralized. Each manager responsible for the operational process in which the risk originates is also responsible for the treatment and adoption of risk control and mitigation measures.. 1.1 Interest Rate Risk Interest rate fluctuations modify the fair value of those assets and liabilities that accrue a fixed rate of interest, as well as the future flows of assets and liabilities indexed at a variable rate of interest. The aim of managing the interest rate risk is to reach a debt structure equilibrium that would enable minimizing debt costs while reducing Income Statement volatility. Depending on the Group’s estimates and on the objectives of its debt structure, various hedging operations are performed by contracting derivatives to mitigate such risks. The instruments currently used are rate swaps of variable rates to fixed rates. 437 Annual Report Enel Américas 2020The comparative structure of the financial debt of the Enel Américas Group, according to fixed and/or protected and variable rates of interest over total gross debt, after the derivative contracts, is the following: Gross position Fixed Interest Rate 12-31-2020 % 38% 12-31-2019 % 39% Risk control through specific processes and indicators allows to limit potential adverse financial impacts while optimizing the debt structure with an adequate degree of flexibility. Here we can see that the volatility that characterized financial markets during the first phase of the pandemic, in many cases returned to pre-COVID-19 levels and was offset by effective risk mitigation actions through derivative financial instruments. 1.2 Foreign exchange rate risk Foreign exchange rate risks are primarily inherent to the following transactions: - - - - Debt contracted by Group companies denominated in currencies other than those in which their cash flows are indexed. Payments to be made in currencies other than those in which their cash flows are indexed, for material purchases associated to projects and payment of corporate insurance policy premiums, amongst others. Income of the Group’s companies directly linked to the fluctuation of currencies other than those of its own cash flows. Cash flows from foreign subsidiaries to parent companies in Chile exposed to foreign exchange rate variations. To mitigate the foreign exchange rate risk, the hedging policy of the Enel Américas Group regarding foreign exchange rates is based on cash flows and aims at maintaining a balance between US$-indexed flows, or local currencies if there are any, and the level of assets and liabilities in such currency. The objective is to minimize the exposure of cash flows to foreign exchange rate variations. The instruments currently used in compliance with the policy are cross-currency swaps and foreign exchange rate forwards. Similarly, the policy seeks to refinance debt in each company’s operating currency. During the fourth quarter of 2020, exchange rate risk management continued in the context of compliance with the risk management policy mentioned above, without difficulty accessing the derivatives market. It is worth noticing that the volatility that characterized financial markets during the first phase of the pandemic, in many cases returned to pre-COVID-19 levels and was offset by risk mitigation actions through derivative financial instruments. 438438 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information 1.3 Commodities risk. The Enel Américas Group might be exposed to the risk of price variations of certain commodities, primarily through: - - Fuel purchases in the process of electric energy generation. Spot energy purchases in local markets. In order to reduce the risk under extreme drought conditions, the Group has designed a commercial policy that defines sale commitment levels in line with the capacity of its generating centrals during a dry year, by including risk mitigation clauses in some contracts with free clients. In the case of regulated clients subject to long-term tender processes, indexing polynomials are determined in order to reduce commodity exposure. In consideration of the operative conditions confronted by the electricity generation market, plus the drought and commodity price volatility in international markets, the Company is continuously checking the convenience of hedging the impact of these price variations in its income. As of December 31, 2020, there are no operations to buy or sell energy futures for the purpose of hedging the procurement portfolio. As of December 31, 2019, 5.28 GWh of energy futures purchases for the purpose of hedging the procurement portfolio have been settled during the year. Thanks to the mitigation strategies implemented, the Group was able to minimize the effects of commodity price volatility in the third quarter 2020 results. 1.4 Liquidity Risk The Group maintains a liquidity policy that consists in contracting long-term credit commitment facilities and temporary financial investments for amounts sufficient to support the projected needs of a given period, which, in turn, is a function of the overall situation and expectations of the debt and capital markets. The above-mentioned projected needs include maturities of net financial debt; namely, after financial derivatives. For additional information regarding the characteristics and the terms and conditions of such financial debt and financial derivatives (see notes 20, 21 and 23). As of December 31, 2020, the Enel Américas Group held a liquidity position of MUS$ 1,507 million in cash and other equivalents. As of December 31, 2019, the Enel Américas Group’s liquidity position totaled MUS$ 1,939 million in cash and cash equivalents and MUS$ 706 million in unconditionally available long-term lines of credit. 1.5 Credit Risk The Enel Américas Group monitors its credit risks continuously and in detail. Commercial accounts receivable: In relation to the credit risks of accounts receivable from commercial activities, this is a risk that has been historically quite limited since the short collection term afforded our clients prevents significant individual accumulation. The foregoing is applied to both our electricity generation and distribution lines of business. In our electricity generation line of business, in certain countries, when confronted to payment defaults it is possible to cut off supply, and almost every contract establishes non-payment as a cause for contract termination. To that effect, we continuously monitor the credit risk and measure the maximum amounts exposed to payment risk, which, as said earlier, are limited. 439 Annual Report Enel Américas 2020In the case of our electricity distribution companies, cutting access to electricity, in all cases, is the attribution of our companies in case of payment default on part of our customers, which is applied in accordance with the regulations in force in each country, which facilitates the process of evaluation and control of credit risk, which by the way is also limited. Assets of a financial nature: Cash surpluses are invested in top domestic and foreign financial institutions (inasmuch as possible with a risk classification of investment grade or equivalent) with pre-established limits per institution. In our selection of banks for investments, we consider those ranked with investment grade according to the three top international risk classification agencies (Moody’s, S&P and Fitch). Our placements may be backed up with treasury bonds of those countries in which we operate and/or bank notes issued by top banks, preferring the latter since they offer better returns (always framed within current placement policies). It should be noted that downward macroeconomic scenarios due to the COVID-19 effect did not have a significant impact on the quality of commercial receivables. In particular, the results of specific internal analyses have shown that there is no statistical correlation between the main economic indicators (GDP, unemployment rate, etc.) and solvency. 1.6 Risk Management The Enel Américas Group prepares a Value at Risk measurement for its own debt positions and financial derivatives, with the purpose of monitoring the risk assumed by the company, thus circumscribing Income Statement volatility. The portfolio of the positions included for the purposes of calculating the present Value at Risk, is comprised of: - - Financial debt. Derivatives for debt hedging The calculated Value at Risk represents the possible value variation of the above-described positions portfolio within one day and with 95% certainty. To that effect we have studied the volatility of the risk variables that affect the value of the position’s portfolio, in relation to the Chilean peso, which includes: - - - The USS Libor rate of interest. The various currencies in which our companies operate, the habitual local indices of bank practices. The exchange rates of the different currencies implied in the calculation. The Value at Risk calculation is based on the extrapolation of future market value scenarios (one quarter out) of the risk variables based on real observations for the same period (quarter) through a 5-year period. The Value at Risk for the next quarter, with 95% confidence level, is calculated as the percentile of the most adverse 5% of the possible quarterly variations. Considering the scenarios described above the Risk Value in a quarter, of the above-mentioned positions, is attributable to US$ 407 million. This value represents the potential increase in the debt and derivatives portfolio, therefore this value at risk is intrinsically related, among other factors, to the value of the portfolio at the end of each quarter. 440440 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information III. BOOK VALUE AND ECONOMIC VALUE OF ASSETS In relation to the assets of higher importance, the following should be noted: Real estate properties, plant and equipment are valued at their purchasing cost, net of their corresponding accumulated depreciation and losses experienced on account of depreciation. Real estate properties, plant and equipment, net of their residual value, as the case might be, are depreciated lineally by distributing the cost of their different integral elements over their estimated useful life, which is the period during which the companies expect to use them. Such useful life estimate is reviewed periodically. The goodwill (lower value of investments or commercial funds) generated in the consolidation exercise represents the excess acquisition cost over the group’s participation in the fair value of assets and liabilities, including contingent liabilities and any non-controlling shareholdings identifiable in a subsidiary company as of the date of acquisition. Goodwill is not amortized, but rather, at the closing of each fiscal year it is estimated whether it has been the subject of any depreciation that might reduce its recoverable value for an amount below its registered net cost, in which case its value is restated accordingly. (See Note 3.e of the Financial Statements). Throughout the year and, primarily at its closing date, an evaluation is performed to determine whether there is any indication that any given asset would have possibly suffered a loss due to impairment. Should there be such an indication, we estimate the recoverable amount of such asset to determine, as the case might be, the amount of such impairment. If these are identifiable assets that do not generate independent cash flows, we then estimate the recoverability of the cash generating unit to which such asset belongs, understanding as such the smallest identifiable group of assets that generates independent cash inflows. Foreign-currency-denominated assets are shown at their rate of exchange at the closing of the period. Notes and accounts receivable from related companies are classified according to their short and long-term maturities. Operations adhere to fair conditions similar to those that prevail in the market. In short, assets are valued pursuant to the International Financial Reporting Standards (IFRS), whose criteria are set forth in Notes No. 2 and 3 of these Enel Américas’ Consolidated Financial Statements. 441 Annual Report Enel Américas 2020Risk Factors Risk Related to Our Business we may need to buy electricity at higher spot prices to comply with our contractual supply obligations. Beyond increasing operating costs, the cost of these electricity purchases may exceed our contracted electricity sale prices, thus potentially producing losses from those contracts. Droughts also indirectly affect the operation of our thermal Our businesses depend heavily on hydrology and are power plants, including our facilities that use natural gas, affected by droughts, flooding, storms, ocean currents, fuel oil, or coal, in the following manner: and other inclement weather conditions. • Our thermal power plants require water for cooling, Approximately 55% of our consolidated installed and droughts may reduce water availability and generation capacity in 2020 was hydroelectric. Accordingly, increase transportation costs. As a result, we may have arid hydrological conditions could negatively affect our to purchase water from agricultural areas that are also business, results of operations, and financial condition. experiencing water shortages. These water purchases Regional hydrological conditions have often been subject may increase our operating costs and require us to to two weather phenomena dealing with ocean currents - negotiate further with the local communities. El Niño and La Niña - that influence rainfall and may result in drought or flooding, depending on the region affected. • Thermal power plants generate emissions such as Droughts may affect our ability to dispatch energy from our nitrogen oxide (NO), carbon dioxide (CO2), carbon hydroelectric facilities. monoxide (CO), sulfur dioxide (SO2), and particulate matter into the atmosphere. Therefore, greater use In the past, El Niño has affected Colombian hydrologic of thermal power plants during droughts generally conditions, where 88% of our installed capacity is increases the risk of producing higher greenhouse gas hydroelectric, leading to rainfall deficits, high temperatures, (GHG) emissions. and higher energy prices. In March 2017, “El Niño Costero” in Peru led to unusually heavy rains that flooded the A full recovery from the drought affecting the regions Santa Eulalia River, caused innumerable landslides and where most of our hydroelectric power plants are located avalanches in the coastal basins, and resulted in the may last for an extended period, and new drought stoppage of several of our hydroelectric power plants, periods may recur in the future. Prolonged droughts may mainly Callahuanca (84MW) and Moyopampa (69 MW). exacerbate the risks described above and have a further Each ocean current event is unique and, depending on negative effect on our business, results of operations, and its intensity and duration, the magnitude of the social and financial condition. economic effects could be material. We depend on payments from our subsidiaries and Our distribution business is also affected by inclement associates to meet our payment obligations. weather, mainly in Argentina. With extreme temperatures, demand can increase significantly within a short period, We rely on cash from dividends, loans, interest payments, affecting service and resulting in service outages that may capital reductions, and other distributions from our result in fines. Depending on weather conditions, results subsidiaries and equity affiliates to pay our obligations. obtained by our distribution business can vary from year Such payments and distributions are subject to legal to year. constraints, such as dividend restrictions, fiduciary obligations, contractual limitations, and foreign exchange Our operating expenses increase during drought periods controls imposed by local authorities. when thermal power plants, which have higher operating costs relative to hydroelectric power plants, are dispatched Historically, we have not always accessed some of our more frequently. Depending on our commercial obligations, operating subsidiaries’ cash flows due to government 442442442 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Informationregulations, strategic considerations, economic conditions, Emgesa and Codensa and the breach of other provisions and credit restrictions. In the future, we may not always of the shareholders’ agreement, and also requested be able to immediately rely on cash flows from operating compensation for damages. The financial claim amounts subsidiaries to repay our debt. to COP$ 1,876,417,133 thousand (US$ 548.3 million) plus interest. An adverse ruling could set a precedent that would Dividend Limits and Other Legal Restrictions: Some of oblige us always to vote in favor of a 100% distribution of our subsidiaries are subject to legal reserve requirements distributable profits, which in turn might not always be and other restrictions on dividend payments. Other legal financially prudent. restrictions, such as foreign currency controls, may limit our subsidiaries and equity affiliates’ ability to pay dividends Our financial condition or results of operations could be and make loan payments or other distributions to us. Their unfavorably affected if we are unsuccessful in defending directors’ fiduciary duties to their minority shareholders litigations or other lawsuits and proceedings against us. may restrict the ability of any of our subsidiaries that are Please see Note 35.3 of the Notes to our consolidated financial not wholly owned to distribute cash to us. Furthermore, statements for further information on litigation proceedings. local authorities may force some of our subsidiaries, under applicable regulation, to reduce or eliminate dividend Construction and operation of power plants may payments. These restrictions could impede our subsidiaries encounter significant delays, stoppages, cost overruns, from distributing cash to us under certain circumstances. and stakeholder opposition that may damage our reputation and potentially result in impairment of our Contractual Constraints: Distribution restrictions included goodwill with stakeholders. in the credit agreements of our subsidiaries, including most of our subsidiaries in Brazil, may prevent dividends and Our power plant projects may be delayed in obtaining other distributions to shareholders if they do not comply regulatory approvals or may face shortages and increases with specified financial ratios. Our credit agreements in the price of equipment, materials, or labor. They may typically prohibit any distributions in the event of ongoing be subject to construction delays, strikes, accidents, and default. human error. Any such event could negatively affect our business, results of operations, and financial condition. Operating Results of Our Subsidiaries: Our subsidiaries and equity affiliates’ ability to pay dividends or make loan Market conditions may change significantly between the payments or other distributions to us is limited by their approval and completion of a project, which, in some operating results. To the extent that any of our subsidiaries’ cases, may decrease a project’s profitability or render it cash requirements exceed their available cash, they will not impracticable. Deviations in market conditions, such as be able to make funds available to us. estimates of timing and expenditures, may lead to cost overruns and delays in project completion that widely The currency of any dividend paid by our subsidiaries exceed our initial forecasts. In turn, this may have a material is subject to depreciation in relation to our functional adverse effect on our business, results of operations, and currency, which may adversely affect our ability to pay financial condition. dividends to shareholders. The situations described above could adversely affect our sometimes challenging in geographical topography, such business, results of operations, and financial condition. as mountain slopes, jungles, or other areas with limited access. Additionally, given some projects’ locations, there We are involved in litigation proceedings. may be additional inherent risks to archeological heritage sites. These factors may also lead to significant delays and We may develop new projects in locations that are We are involved in various litigation proceedings that cost overruns. could result in unfavorable decisions or financial penalties against us. In Colombia, we exercise control over Emgesa Our thermal power plants’ operation, especially those that are and Codensa through shareholder agreements with coal-fired, may affect our goodwill with stakeholders due to Grupo Energía Bogotá S.A. (“GEB”). In October 2018, GEB GHG emissions that could unfavorably affect the environment initiated arbitration proceedings for alleged breach of and nearby residents. Furthermore, outside stakeholders the shareholder agreements concerning the failure to may influence the interests and perceptions of the local distribute 100% of the profits in 2016, 2017, and 2018 in communities about the Company. If we fail to address 443 Annual Report Enel Américas 2020appropriately all relevant stakeholders’ concerns, including Our primary facilities include power plants and transmission environmental, social and governance criteria (“ESG”), we may and distribution assets that are exposed to damage from face opposition, which could negatively affect our reputation, catastrophic natural disasters, such as earthquakes and fires, stall operations, or lead to litigation threats or actions. Our human causes, as well as acts of vandalism, protests, riots, reputation is the foundation of our relationship with key and terrorism. A catastrophic event could cause prolonged stakeholders and other constituencies. If we do not effectively unavailability of our assets, disruptions in our business, manage these sensitive issues, they could adversely affect our significant decreases in revenues due to lower demand, business, results of operations, and financial condition. or significant additional costs not covered by our business interruption insurance. There may be lags between a significant Damage to our reputation may exert considerable pressure accident or catastrophic event and the final reimbursement on regulators, creditors, and other stakeholders, possibly from our insurance policies, which typically carry a deductible leading to the abandonment of projects and operations. and are subject to per event policy maximum amounts. This damage could cause our share prices to drop and hinder our ability to attract and retain valuable employees. In mid-October 2019, widespread street demonstrations Any of these outcomes could result in an impairment of our and protests erupted in Santiago and quickly spread goodwill with stakeholders. throughout Chile. These actions became commonplace and, at times, were accompanied by looting, arson, and Our long-term energy sales contracts are subject to vandalism. Violent confrontations between protesters and fluctuations in the market prices of certain commodities, the police and armed forces resulted in a significant loss energy, and other factors. of human lives and serious injuries. Accumulated damage to public and private property amounted to billions of We have exposure to fluctuations in certain commodity dollars. Damage to the country’s economy, prospects for market prices that affect our long-term energy sales growth, perception of risk, and immediate repercussions in contracts. These contracts commit our subsidiaries to unemployment and productivity loss were also significant. material obligations as selling parties and contain prices Our corporate headquarters in Santiago suffered a severe indexed to different commodities, exchange rates, inflation, arson attack on October 18, 2019, resulting in the dislocation and the market price of electricity. Unfavorable changes of our management and headquarters employees for an to these indices would reduce the rates we charge under extended period. In a globalized and interconnected world, these contracts, which could adversely affect our business, all the countries in which we operate are subject to this risk. results of operations, and financial condition. In our distribution business, we also have economic exposure to Any natural or human catastrophic disruption to our fluctuations in energy prices. electricity assets in the countries in which we operate could significantly affect our results of operations and We are subject to incremental risks in distribution markets financial condition. that are becoming more liberalized. In some countries, our distribution customers who meet the with funding our new projects and capital expenditures or We are subject to financing risks, such as those associated minimum and maximum demand requirements may freely refinancing existing obligations. choose unregulated tariffs. This flexibility may adversely affect our operating income. In some cases, customers As of December 31, 2020, our consolidated debt totaled may choose an alternative energy provider, which could US$6.1 billion, and our holding company debt in Chile adversely affect our business, results of operations, and totaled US$1.1 billion. As of December 31, 2020, we held financial condition. US$601 million in SEC-registered bonds issued in the U.S. and had drawn bank debt under Senior Unsecured Our electricity business is subject to risks arising from Revolving Credit Agreements for US$325 million, all natural disasters, catastrophic accidents, and acts of governed under the laws of the State of New York. vandalism or terrorism, which could unfavorably affect our operations, earnings, and cash flow. 444444444 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationOur debt agreements are subject to several of the following is disrupted, or its capacity is inadequate, we may be provisions, including (1) financial covenants, (2) affirmative unable to sell and deliver our electricity. If a region’s power and negative covenants, (3) events of default, (4) mandatory transmission infrastructure is inadequate, our recovery of prepayments for contractual breaches, (5) change of sales costs and profits may be insufficient. If restrictive control clauses for material mergers and divestments, transmission price regulations are imposed, transmission and (6) bankruptcy and insolvency proceeding covenants, companies may not have sufficient incentives to invest in among others. expanding their infrastructure, which could unfavorably affect our results of operations and financial condition or A significant portion of our financial indebtedness is affect our ability to deploy our portfolio of projects under subject to cross default provisions, which have varying development. The construction of new transmission definitions, criteria, materiality thresholds, and applicability lines may take longer than in the past, mainly because concerning subsidiaries that could result in cross default. of sustainability, social, and environmental requirements Our debt may also become immediately due and payable that create uncertainties regarding project completion in cases involving bankruptcy or insolvency proceedings timing. As a result, in some of the countries in which we of a significant or material subsidiary. Likewise, some of operate, renewable energy projects are being completed our debtholders may decide to accelerate our debt in faster than new transmission projects, creating a backlog cross default events dealing with significant or material of electricity that can be transmitted through current subsidiaries, among other potential covenant defaults. transmission systems. In Argentina, for example, the lack of investment in transmission lines will reduce incentives for We may be unable to refinance our debt or obtain such the development of renewable energy projects. refinancing in terms acceptable to us. In the absence of such refinancing, we could be forced to liquidate assets We also rely on pipelines to obtain natural gas, mainly in at unfavorable prices to make payments due on our Peru, where more than 50% of our generation capacity debt. Furthermore, we may be unable to sell our assets at is thermal. In recent years, the Peruvian system has opportune moments or sufficiently high prices to obtain occasionally faced gas and electricity shortages due to a proceeds that would enable us to make such payments. lack of sufficient capacity in the pipeline and transmission lines, which led to higher spot prices. Depending on the We may also be unable to raise the necessary funds facility type, our thermal generation power plants purchase required to finish our projects under development or gas, coal, diesel, and other fuels to produce electricity. construction. Market conditions or unforeseen project Any contract breach or supply shortage may prevent our costs prevailing when we need funds could compromise facilities from producing electricity on time. our ability to finance these projects and expenditures. As of the date of this report, Brazil is the country with our bargaining agreements with our unionized employees or highest refinancing risk. As of December 31, 2020, the debt retain key employees in labor conflict cases. of our Brazilian subsidiaries amounted to US$ 2,5 billion, while the debt of our Colombian subsidiaries amounted to A large percentage of our employees are members of unions We may be unable to reach satisfactory collective US$ 1,7 billion. with which we have collective bargaining agreements that must be renewed regularly. Our business, results of Our inability to finance new projects or capital expenditures, operations, and financial condition could be unfavorably refinance our existing debt, or comply with our covenants affected by a failure to reach a collective bargaining could negatively affect our results of operations and agreement with any labor union or by a deal with a labor financial condition. union that contains terms we view as unfavorable. Laws in many of the countries in which we operate provide legal If third-party electricity transmission facilities, gas mechanisms for judicial authorities to impose a collective pipeline infrastructure, or fuel supply contracts fail to bargaining agreement if the parties cannot come to an provide us with adequate service, we may be unable to agreement, which may materially increase our costs. deliver the electricity we sell to our final customers. We depend on transmission facilities owned and operated actions such as strikes, walkouts, or work stoppages by by other companies to deliver the electricity we sell. This these employees could negatively impact our business, dependence exposes us to several risks. If the transmission results of operations, financial conditions, and reputation. We employ many highly specialized employees. Specific 445 Annual Report Enel Américas 2020We may be unable to enter into suitable acquisitions or • failure to retain our customers and suppliers and those successfully integrate businesses that we acquire. of EGP Américas; We review acquisition prospects that may increase our • difficulties in achieving full utilization of our assets and market coverage or provide synergies with our existing resources and those of EGP Américas; and businesses on an ongoing basis. However, there can be no assurance that we will be able to identify and acquire suitable • complications in retaining key employees (who may companies in the future. The acquisition and integration of depart because of issues relating to the uncertainty independent companies that we do not control is generally and difficulty of integration or general discontent) or a complicated, costly, and time-consuming process that efficiently managing the broader organization. requires significant efforts and expenditures. For example, as a result of the acquisition of Enel Distribution Sao Paulo in Under any of these circumstances, the business growth 2018, our leverage at the onset increased considerably due opportunities, revenue benefits, and other benefits to the new debt for the purchase itself and the consolidation anticipated by us to result from the completion of the of Enel Distribution Sao Paulo’s existing debt. merger with EGP Américas may not be achieved as expected. To the extent that we incur higher integration Integrating acquired businesses may be difficult, expensive, costs or achieve lower revenue benefits than expected, our time-consuming, and a strain on our resources and results of operations and financial condition may suffer. relationships with our employees and customers. Ultimately, The diversion of management attention and any difficulties these acquisitions may not be successful or achieve the encountered from this merger could increase costs or expected benefits. Any delays or difficulties encountered reduce our revenues, earnings, and operating results. Any in connection with acquisitions and the integration of their delays encountered in the integration process could have operations could have a material adverse effect on our an adverse effect on our revenues, expenses, operating business, results of operations, or financial condition. results, and financial condition, which may adversely affect our securities’ value. For example, our integration with EGP Américas may be difficult and expensive. The merger with EGP Américas Interruption in or failure of our information technology, involves integrating a mature business, as is the case of control, and communications systems or cyberattacks our conventional energy business with EGP Américas’ to or cybersecurity breaches of these systems could non-conventional renewable energy business. Our goal in have a material adverse effect on our business, results of integrating the operations is to increase the revenues and operations, and financial condition. earnings of the combined companies and, as a combined businesses, to improve our ability to satisfy our customers’ We operate in an industry that requires the continued demands. In so doing, we may encounter substantial operation of sophisticated information technology, control, difficulties in integrating our operations and could incur and communications systems (“IT Systems”) and network high costs as a result of, among other things: infrastructure. We use our IT Systems and infrastructure to create, collect, use, disclose, store, dispose of, and • inconsistencies in standards, controls, procedures otherwise process sensitive information, including company and policies, business cultures and compensation and customer data and personal information regarding structures between EGP Américas and us and the customers, employees and their dependents, contractors, need to implement, integrate and harmonize various shareholders, and others individuals. IT Systems are critical business-specific operating procedures and systems, to controlling and monitoring our power plants’ operations, as well as our financial, accounting, information, and maintaining generation and network performance, other systems and those of EGP Américas; generating invoices to bill customers, achieving operating efficiencies, and meeting our service targets and • diversion of management’s attention from their other standards in our generation business. The operation of our responsibilities as a result of the need to deal with generations systems is dependent not only on the physical integration issues; interconnection of our facilities with the electricity network 446446446 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Informationinfrastructure but also on communications among the revenues and high additional costs, including penalties, various parties connected to the network. The reliance on third-party claims, repair costs, increased insurance IT Systems to manage information and communication expense, litigation costs, notification and remediation among those parties has increased significantly since the costs, security costs, and compliance costs. implementation of smart meters and intelligent grids, in Brazil and Colombia. Our generation facilities, IT Systems, and other infrastructure and the information processed in our IT Systems could Risk Related to Regulatory Matters be affected by cybersecurity incidents, including those Governmental regulations may unfavorably affect our caused by human error. Our industry has begun to see businesses, cause delays, impede the development of an increased volume and sophistication of cybersecurity new projects, or increase the costs of operations and incidents from international activist organizations, nation- capital expenditures. states, and individuals, and are among the emerging risks identified in our planning process. Cybersecurity incidents Our businesses and the tariffs we charge to our customers could harm our business by limiting our generation are subject to extensive regulation that may negatively capabilities, delaying our development and construction of affect our profitability. For example, governmental new facilities or capital improvement projects to existing authorities in any of the countries in where we operate facilities, disrupting our customer operations, or exposing may impose material rationing policies during droughts or us to various events that could compromise our liability. prolonged failures of power facilities, which may adversely Our business systems are part of an interconnected affect our business, results of operations, and financial system. Therefore, a disruption caused by the impact of condition. a cybersecurity incident in the electric transmission grid, network infrastructure, fuel sources, or our third-party Electricity regulations issued by governmental authorities service providers’ operations could also unfavorably affect in the countries in where we operate may affect our our business. generation companies’ ability to collect revenues sufficient to offset their operating costs, which could Our business requires the collection and storage of adversely affect our business, results of operations, personally identifiable information of our customers, and financial condition. Governmental authorities may employees, and shareholders, who expect that we will also delay the distribution tariff review process, or tariff adequately protect the privacy of such information. adjustments determined by regulatory authorities may be Cybersecurity breaches may expose us to a risk of loss insufficient to pass on our costs to customers. or misuse of confidential and proprietary information. Significant theft, loss, or fraudulent use of personally Our operating subsidiaries are also subject to identifiable information may lead to high costs to notify and environmental regulations that, among other things, protect the impacted persons. It could cause us to become require us to perform environmental impact studies on subject to significant litigation, losses, liability, fines, or future projects and obtain construction and operating penalties, any of which could materially and adversely permits from local and national regulators. Governmental affect our results of operations and reputation. We would authorities may withhold or delay the approval of these eventually have to incur significant costs associated with permits until the completion of environmental impact governmental actions in response to such intrusions or studies. Therefore, their processing time may be longer strengthen our information and electronic control systems. than expected. Environmental regulations for existing and future generation capacity have become stricter The cybersecurity threat is dynamic, evolving, and and require increased capital investments. Any delay in increasing in sophistication, magnitude, and frequency. We meeting the required emission standards may constitute may be unable to implement adequate preventive measures a violation of the environmental regulations. Failure to or accurately assess the likelihood of a cybersecurity certify monitoring systems’ original implementation and incident. We are unable to quantify the potential impact ongoing emission standard requirements may result of cybersecurity incidents on our business and reputation. in significant penalties, sanctions, or legal claims for These potential cybersecurity incidents and corresponding damages. We expect that more restrictive emission limits regulatory action could result in a material decrease in will be established in the future. 447 Annual Report Enel Américas 2020Changes to laws and regulations or governmental Any limitations on our current water rights, additional authorities’ interpretation of laws and regulations could water rights, or the current unlimited duration of water result in delays or modifications to proposed projects, concessions could have a material adverse effect on our which could adversely affect our business, results of hydroelectric development projects and profitability. operations, and financial condition. We are subject to potential business and financial risks subsidiaries due to operational failures or breaches of Regulatory authorities may impose fines on our resulting from climate change legislation and regulation regulations. to limit GHG emissions. Our electricity businesses may be subject to regulatory Future climate change legislation and regulation fines for any breach of current regulations, including restricting or regulating GHG emissions could increase failures to supply energy, in the four countries in where we our operating costs and have a material adverse effect on operate. Local regulatory entities supervise our generation our business, results of operations, and financial condition. subsidiaries. We may be subject to fines when the regulator The adoption and implementation of any international determines that the company is responsible for the treaty, legislation, or regulation imposing new or additional operational failures that affect the regular energy supply to reporting obligations or limiting emissions of GHGs from the system. Our subsidiaries may be required to pay fines our operations could require us to incur additional costs or compensate customers if they cannot deliver electricity, to comply with such requirements and possibly require even if such failures are not within their control, or when the reduction or limitation of GHG emissions associated they do not meet environmental or other standards. Fines with our operations. These higher compliance standards may also be associated with a breach of regulations. may involve additional costs to operate and maintain our equipment and facilities, install emission controls, or pay In 2018, the Peruvian National Superintendence of Customs taxes and fees relating to GHG emissions, which could and Tax Administration (“SUNAT” in its Spanish acronym) have a material adverse effect on our business, results of fined Enel Generation Perú US$ 2.9 million after an audit of operations, and financial condition. the Ad Valorem General Sales Tax and Municipal Promotion Tax on imports for 2008 and 2009. In 2020, the Brazilian Our business and profitability could be unfavorably governmental agency for electric energy (“ANEEL” in its affected if water rights are denied, if water concessions Portuguese acronym) fined Enel Distribution Goiás R$ 43.2 are granted with limited duration, or if the cost of water million due to flaws in technical procedures and commercial rights is increased. issues related to the quality of electricity supply and Enel Distribution Ceará and Enel Distribution Sao Paulo R$ 21 Each country’s respective authority grants us water rights million and R$ 186 million respectively, in each case due to for water supply from rivers, lakes, and reservoirs near our flaws in the registration of the respective company’s asset production facilities. In Colombia, water rights and water base. In 2020, the Argentine national regulatory authority concessions are awarded for different periods for each for the energy sector (“ENRE” in its Spanish acronym) fined of our power plants, in some cases for up to 50 years. Edesur Ar$ 1.5 million for breaches of the public highway However, these concessions may be revoked for specific safety regime. reasons, including a progressive water decrease or depletion, and water for human consumption has priority over any other use. In Peru, the concessions are granted for indefinite periods but could be revoked due to scarcity or a decline in service quality. In Argentina, hydroelectric generators with a generation capacity exceeding 500 kW must obtain a concession to use public water sources for a determined or indefinite term. 448448448 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationRisk Related to Countries in South America and Other Global Risks Certain South American countries have been historically characterized by frequent and occasionally drastic economic interventionist measures by governmental authorities, including expropriations that may adversely affect our business and financial results. Governmental authorities have altered monetary, credit, tariff, tax, and other policies to influence South American countries, including Argentina, Brazil, Colombia, and Peru. Even though we do not have electricity operations in Chile, our company is established under the laws of the Republic of Chile. It is also subject to changes in Chilean tax, labor, and monetary laws, among others. Other governmental actions in the South American countries in which we operate have also involved wage, price, and tariff rate controls and other interventionist measures, such as expropriation or nationalization. If we do not meet minimum service and technical standards in the distribution business, we may lose our concessions. In some concession areas, such as those in Buenos Aires, Goiás, and Rio de Janeiro, it may be challenging to satisfy specific minimum standards that, if not met, empower regulators to revoke our concessions and reassign them to our competitors. For example, a loss of a concession by one of our significant subsidiaries could lead to a default of a debt obligation by such subsidiary, which could trigger a cross default, bankruptcy, or insolvency proceedings. Such events could have a material adverse effect on our contractual obligations under debt covenants. For 2021, we expect tax reforms and amendments to the current tax laws in Colombia that will charge VAT tax on products that currently are tax-free, increase the income tax base on natural persons, and reduce or eliminate tax benefits. Changes in governmental and monetary policies regarding tariffs, exchange controls, regulations, and taxation could reduce our profitability. Inflation, devaluation, social instability, and other political, economic, diplomatic developments or crises, including governments’ response in the region to these circumstances, could also reduce our profitability. South American economic fluctuations, political instability, and corruption scandals may affect our results of operations, financial condition, and the value of our securities. All our operations are in South America. Accordingly, our consolidated revenues may be affected by the performance of South American economies. If local, regional, or worldwide economic trends adversely affect the economy of any of the countries in which we operate, our financial condition and results of operations could also be adversely affected. We operate in Argentina, Brazil, Colombia, and Peru, more volatile countries that at times have experienced political instability due to, among other things, corruption scandals involving several high-ranking government officials. South American financial and securities markets are influenced by economic and market conditions in other countries, which could unfavorably affect our securities’ value. Also, the challenges arising from changes in economic conditions, regulatory policies, laws governing foreign trade, manufacturing, development and investment, and various crises in the countries in which we operate and other South American countries, either individually or in the aggregate, could severely affect the economies in these countries and our business, result of operations, and financial condition. For example, in December 2019, after a steep devaluation of the Argentine peso against the U.S. dollar, the Argentine government declared a public emergency. It enacted several emergency economic measures to stabilize the economy and resolve the resulting social crisis. In Peru, in November 2020, Congress removed President Vizcarra from office based on alleged corruption charges. Manuel Merino, the head of Congress, assumed the office as acting president, only to resign one week later, along with his entire cabinet, due to mass protests. Congress subsequently appointed Francisco Sagasti as the third president in one week. In Colombia, large demonstrations against the government took place in November and December 2019. Initially, the protests were organized by students, unions, and indigenous groups opposed to proposed changes to the Colombian pension and labor laws. The protests expanded rapidly to encompass economic inequality, corruption, possible austerity measures, and rising violence in the countryside. After several months of lockdown, protests resumed in October 2020 due to the coronavirus pandemic, including a national strike demanding governmental reforms. In Chile, widespread protests began in October 2019, resulting in a declaration of a state of emergency for a brief period, the introduction of several social and economic reforms. In October 2020, the government held a referendum to decide whether to create a new Chilean constitution and whether a popularly 449 Annual Report Enel Américas 2020elected assembly or a combination of current legislators The Argentine peso experienced one of the steepest and a popularly elected assembly would draft the new devaluations against the U.S. dollar in 2019 and 2020, constitution. Nearly 80% of voters approved the referendum amounting to an annual depreciation of 37.1% and 28.8%, for a new constitution and opted to have a popularly elected respectively. Further deterioration of Argentina’s economy, assembly draft the new constitution. Although we do not have a continued devaluation of the Argentine peso against the operations in Chile, our management and headquarters are in U.S. dollar driven by hyperinflation, or the initial freezing and Chile, and our common stock is traded on the Chilean Stock subsequent lowering of electricity distribution tariffs could Exchanges. Demonstrations and civil unrest in the countries adversely affect our results of operations and financial in which we operate and Chile may continue or worsen, which condition. could negatively impact these countries’ economies and adversely affect our business, results of operations, financial We are subject to the adverse effects of worldwide condition, and value of our securities. pandemics. Insufficient cash flows from our subsidiaries located in An international public health crisis, such as the one these countries have resulted in their inability to meet debt attributable to the coronavirus pandemic that began in obligations and the need to seek waivers to comply with December 2019, has led to high unemployment levels in some debt covenants. To a limited extent, these subsidiaries all the countries in which we operate and has impacted may require guarantees or other emergency measures the electricity demand, the financial markets, and the from us as shareholders, especially those located in Brazil ability of our businesses to generate income. For the and Argentina. year ended December 31, 2020, our sales from energy distribution were 4.5% lower than in the same period Future adverse developments in these countries may of 2019, net production fell 3.1% as compared to the impair our ability to execute our strategic plan, which could same period of 2019, and sales from energy generation adversely affect our growth, results of operations, and decreased 7.7% as compared to the same period of 2019. financial condition. Our collection rates fell 4.7% in Peru, 1.9% in Argentina, 2.0% in Colombia, and 1.5% in Brazil as compared to the A further deterioration of Argentina’s economic situation same period of 2019. We estimate that the impact on our or further devaluation of the Argentine peso could have an net income caused by the coronavirus pandemic stems adverse effect on our operations and profitability. from lower energy demand and increased uncollectible Since July 2018, Argentina has been considered a debts. hyperinflationary economy according to IFRS accounting In response to the coronavirus pandemic, in March standards. A general price index was used to present 2020, governments in all the countries in which we the amounts related to our Argentine subsidiaries in our operate declared some form of a state of emergency consolidated financial statements retrospectively to reflect recognized by their respective constitutions. These the changes in the purchasing power of the Argentine declarations granted each government various special peso under the provisions outlined in IAS 29, “Financial powers, such as control over public spending, military Reporting in Hyper-Inflationary Economies.” Non-monetary use, license to close businesses and schools, and the assets and liabilities were restated as of February 2003, the ability to restrict border crossings and domestic travel latest date in which an inflation adjustment for accounting through quarantines and other measures. Governments purposes was applied in our Argentine subsidiaries. Our of the countries in which we operate took the following consolidated financial statements have not been restated measures, among others, to preserve access to essential to reflect the gain from the indexation of our Argentine services and preserve business continuity: subsidiaries’ non-monetary assets and liabilities before January 1, 2018. Such monetary gain up to that date was • Argentina enacted in March 2020 a rule to forbid recognized as an adjustment to our retained earnings as companies providing essential services from cutting of January 1, 2018 (please see Note 2.9 of the Notes to our service due to non-payment for 180 days for low- consolidated financial statements). income residential customers, small businesses, and 450450450 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Informationcompanies providing other essential services, such as The countries in which we operate are vulnerable to health facilities. In May 2020, the Argentine regulator external shocks that could cause significant economic issued a resolution to allow users who have reduced difficulties and affect growth. If any of these countries their demand 50% or more to suspend their payments experience lower than expected economic growth or a or make them in 30 installments. recession, it is likely that consumer demand for electricity will decrease and that some of our customers may have • Brazil enacted a similar prohibition on the suspension difficulties paying their electric bills, possibly increasing of electricity supply due to non-payment for all our uncollectible accounts. Any of these situations could residential customers and companies and facilities adversely affect our results of operations and financial providing essential services this measure was in effect condition. from March to July 2020. In March 2020, ANEEL issued a regulation to grant loans to the distribution companies, Financial and political events in these countries and other commonly known as the “COVID Account,” aiming to parts of the world could also negatively affect our business. ease financial distress and avoid tariff adjustments. For example, since 2018, the U.S. and China have been involved in a trade war involving protectionist measures that • Colombia allowed low-income residential customers ve increase volatility in financial markets worldwide due to representing approximately 60% of the customer base the uncertainty of political decisions. Also, instability in the to defer payment of monthly electricity bills for 36 Middle East or any other major oil-producing region could months, without penalty or risk of a cut in service. result in higher fuel prices worldwide, which would increase the operating costs for our thermal generation power • Peru allowed 4.8 million vulnerable residential customers plants and unfavorably affect our results of operations and to prorate bills issued during March 2020 or bills that financial condition. An international financial crisis and its included any consumption during the emergency disruptive effects on the financial industry could negatively period for up to 24 installments, without interest, affect our ability to obtain new bank financings under charges, or fees due to late payment. The government the same historical terms and conditions that we have also established a subsidy to cover customers’ unpaid benefited from to date. bills with monthly energy consumption of up to 125 kW from March to December 2020. Political events or financial or other crises could also diminish our ability to access capital markets in the The private sector in these countries has voluntarily taken countries in which we operate and international capital further measures, such as adopting telecommuting markets as sources of liquidity or increase interest rates wherever possible and closing commercial offices. Many available to us. Reduced liquidity could negatively affect businesses, such as restaurants, retail stores, malls, and our capital expenditures, long-term investments and spaces for large gatherings, have temporarily closed, many acquisitions, growth prospects, and dividend payout policy. by executive decree, and companies associated with travel, transportation, and tourism have been severely affected, Foreign exchange risk may unfavorably affect our results and many went bankrupt. and the U.S. dollar value of dividends payable to ADS . Recent increases in infection rates may indicate a second holders. wave of coronavirus infections in 2021. The South American Even though our functional currency is the U.S. dollar, countries in which we operate have not yet implemented a our subsidiaries generate revenues in Argentine pesos, widespread vaccination program. Accordingly, if there is a Peruvian nuevos soles, Brazilian reais, and Colombian resurgence of the coronavirus pandemic and any vaccines pesos. We generally have been and will continue to be that may be made available are insufficient to restrain the materially exposed to currency fluctuations in our local pandemic and similar outbreaks in the future, our business, currencies against the U.S. dollar because of time lags results of operations and financial condition may be and other limitations to pegging our tariff rates to the materially adversely affected. U.S. dollar. This exposure can substantially decrease the value of cash generated by our subsidiaries and the value Political events or financial or other crises in any region of our dividends when translated into U.S. dollars if our worldwide can significantly impact the countries in which local currencies experience a devaluation against the we operate and, consequently, may unfavorably affect our U.S. dollar. For example, the Argentine peso and Brazilian operations and liquidity. real devalued 28.8% and 22.4% against the U.S. dollar in 451 Annual Report Enel Américas 2020 2020, respectively. Future volatility in the exchange rate The relative illiquidity and volatility of the Chilean of the currencies in which we receive revenues or incur securities market could unfavorably affect the price of expenditures may adversely affect our business, results our common stock and ADSs. of operations, and financial condition, especially when measured in U.S. dollars, the currency that affects our ADS Even though we do not have assets in Chile, our shares holders. Risk Related to Ownership of Our Shares and ADSs Our controlling shareholder may influence us and may have a strategic view for our development that differs from that of our minority shareholders. Enel, our controlling shareholder, owns a beneficial interest of 75.2% of our share capital as of April 1, 2021. Under Chilean corporate law, Enel has the power to determine the outcome of all material matters that require a simple majority of shareholders’ votes, such as the election of most of the seats on our board, and, subject to contractual and legal restrictions, the adoption of our dividend policy. In addition, since Enel has the power to determine the outcome of all material matters that require the affirmative vote of at least two-thirds of the outstanding common stock of the Company, our controlling shareholder exercises significant influence over our business strategy and operations. However, in some cases, its interests may differ from those of our minority shareholders. Certain conflicts of interest affecting Enel in these matters may be resolved in a manner that is different from the interests of our company or our minority shareholders. are traded on the Chilean Stock Exchanges because we are organized under the laws of the Republic of Chile and have our headquarters in Chile. Chilean securities markets are substantially smaller and have less liquidity than the major securities markets in the United States and other developed countries. The low liquidity of the Chilean market may impair shareholders’ ability to sell shares, or holders of ADSs to sell shares of our common stock withdrawn from the ADS program, on the Chilean Stock Exchanges in the amount and at the desired price and time. Lawsuits against us brought outside of the South American countries in which we operate, or complaints against us based on foreign legal concepts may be unsuccessful. All our operations are located outside of the United States. All our directors and officers reside outside of the United States, and substantially all their assets are located outside the United States. If investors were to bring a lawsuit against our directors and officers in the United States, it may be difficult for them to effect service of legal process within the United States upon these persons. It may also be difficult to enforce judgments obtained in U.S. courts based on civil liability provisions of U.S. federal securities laws against them in U.S. or Chilean courts. There is also doubt about whether an action could be brought successfully in Chile for liability based solely on the civil liability provisions of U.S. federal securities laws. 452452452 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information Relevant or Significant Events its equity stake in Enel Américas up to 65%. Pursuant to the Swap Transactions, Enel may acquire, on dates that are expected to occur no later than the end of 2020, additional shares of Enel Américas’ common stock and American Depositary Shares (“ADSs”). Pursuant to articles 9 and 10, paragraph 2 under Securities Enel has entered into two new share swap transactions (the Market Law No. 18,045, and as established under General “Swap Transactions”) with a financial institution to increase Norm No. 30 of the Superintendency of Securities and its equity stake in Enel Américas up to 65%. Pursuant to Insurance (SVS, currently the Financial Market Commission, the Swap Transactions, Enel may acquire, on dates that are CMF) we hereby report the following Significant Events: expected to occur no later than the end of 2020, additional shares of Enel Américas’ common stock and American On April 3, 2020, the following was reported as a Depositary Shares (“ADSs”). Significant Event: The number of shares of Enel Américas’ common stock and Hereby inform you in the attached “Comunicato Stampa”, Enel Américas’ ADSs actually acquired by Enel pursuant to issued on April 3 by Enel S.p.A., our ultimate parent company, the Swap Transactions will depend on the ability of such in which the Italian company informs the market that it signed financial institution to establish its hedge positions with two agreements with a financial institution to increase its respect to the Swap Transactions. participation in Enel Américas S.A. by up to 2.7%, this increase in the beneficial interest is additional to the agreements The amount payable for any shares of Enel Américas’ currently in force to increase its participation as previously common stock acquired by Enel will be based on the prices announced to the market. In this way, Enel S.p.A. is planning at which such financial institution establishes its hedge to reach up to 65% of the share capital of Enel Américas S.A.. with respect to the corresponding Swap Transaction. The More details can be found in the "Comunicato Stampa" issued amount payable for any of Enel Américas’ ADSs acquired by Enel S.p.A., a copy of which is hereby attached. by Enel will be based on the observable volume-weighted average prices of Enel Américas’ ADSs during the period The financial effects of such a transaction are not in which the financial institution establishes its hedge with quantifiable as of this date. respect to the corresponding Swap Transaction. ENEL TO INCREASE ITS STAKE IN ENEL AMERICAS UP TO Prior to settlement, Enel will not have any right to dispose 65% of or vote any shares of Enel Américas’ common stock or Enel Américas’ ADSs acquired or held by such financial • Enel plans to increase its shareholding in Enel Américas by institution as a hedge in connection with the corresponding up to a further 2.7% in view of the expected completion by Swap Transaction. May 2020 of the ongoing share swap transactions to reach 62.3% of the subsidiary, in line with Enel Group’s announced Enel’s payment obligations under the Swap Transactions objective to buy out minorities in South America will be funded through internal cash flow generation. Rome, April 3rd, 2020 – Enel S.p.A. (“Enel”) plans to The abovementioned Transactions are in line with the increase its shareholding in its listed Chilean subsidiary Enel Group’s announced objective to buy out minorities in Enel Américas S.A. (“Enel Américas”) by up to an additional subsidiaries operating in South America. 2.7% stake, in order to reach the maximum shareholding currently allowed by Enel Américas’ by-laws, equal to • On April 7, 2020, the following was reported as a 65%. The shareholding increase will be carried out in view Significant Event: of the expected completion of the ongoing share swap transactions to increase Enel’s stake in Enel Américas by up That the Company’s Board of Directors, during a session to 5%, reaching up to 62.3% of the company’s share capital. held on March 31, 2020, and pursuant to General Norm This completion is expected to occur by May 2020. No. 435 and Circular Letter No. 1141 issued by the Financial Market Commission on March 18, 2020, and in relation to the Enel has entered into two new share swap transactions (the measures to be taken as a result of the Covid-19 outbreak, “Swap Transactions”) with a financial institution to increase commonly known as Coronavirus, affecting the country, 453 Annual Report Enel Américas 2020agreed to implement the use of technological means for • On April 30, 2020, the following was reported as a the Enel Américas S.A. Ordinary Shareholders' Meeting to Significant Event: be held on April 30, 2020 (the "Meeting") at 9:30 a.m., in order to facilitate the participation of shareholders who are In the Ordinary Shareholders´s Meeting of Enel Américas not physically present at the place where the Meeting is to S.A. held on April 30, 2020 has agreed to distribute the be held via remote voting mechanisms. Such authorization minimum mandatory dividend (from which the interim was granted under the condition that management must dividend paid in January 2020 has been deducted) as well verify that the system to be implemented complies with the an additional dividend that amounts to US$ 807,042,466 requirements set out below. equivalent to US$ 0.01060693382306510 per share. Pursuant to the aforementioned General Norm No. 435, the Given that the above-mentioned interim dividend has technological system to be used will allow the participation already been paid, the distribution and payment of the of shareholders who are not physically present at the remnant of the final dividend No. 101 shall be for a total of place of the Meeting and the remote voting mechanisms US$ 683,788,836, or US$ 0.00898701522901363 per share. to be implemented shall duly guarantee the identity of such shareholders and simultaneous or secret balloting The aforementioned dividend will be paid in Chilean pesos, during the Meeting. The Company's management has the legal currency, converted according to the Observed determined today that it is possible to implement a system Dollar exchange rate published in the Official Gazette on that complies with the requirements established by current May 22, 2020. regulations and that it is compatible with the Company’s Shareholders' Register managed by DCV Registros S.A. The scheduled payment date is May 29, 2020. Shareholders of record in the Register of Shareholders up to May 22, The calls to the Meeting and the following link: 2020 will be entitled to receive these dividends. https://www.enelamericas.com/es/inversionistas/a201609- junta-de-accionistas.html shall inform how to access the • On May 4, 2020, the following was reported as a Meeting remotely and the details of the system to be Significant Event: implemented.The shareholders will also be informed in due course how to certify their identity and their authorizations, On May 4, 2020, Enel Américas subscribed and paid a capital as applicable. increase to its subsidiary Enel Brasil S.A. ("Enel Brasil"), for a total amount of BRL 2,820,101,060.85, equivalent to approximately It is suggested that the shareholders of the Company US$ 504 million (five hundred four million US dollars) contact DCV Registros S.A. at the following email: approximately. So that Enel Brasil, as the sole shareholder of atencionaccionistas@dcv.cl and / or by phone +562 Enel Distribución São Paulo S.A. (Eletropaulo Metropolitana 2393 9003 to update their contact information in Eletricidade de São Paulo S.A. or "Eletropaulo"), finances the order to facilitate their participation in the Board restructuring of the pension fund of employees. With this through this system. operation, Enel Américas has complied with the full use of funds from the capital increase approved by the Company's Notwithstanding the above, and given that the country is Extraordinary Shareholders' Meeting, held on April 30, 2019. currently in a constitutional state of exception under the disaster emergency decreed as a result of the COVID-19 • On May 6, 2020, the following was reported as a pandemic, the Company believes that the health of our Significant Event: people and our shareholders should prevail. Therefore, the Board has determined that both the attendance and voting With regard to the definitive mandatory minimum dividend at the meeting, as well as the meeting itself, will be carried and eventual dividend agreed upon at the Ordinary out remotely, for which the corresponding details will be Shareholders’ Meeting of Enel Américas S.A. held on informed in a timely manner to the shareholders via the April 30, 2020, shareholders of record in the Register of website indicated above. Shareholders up to May 23, 2020 will be entitled to receive the above-mentioned dividends. 454454454 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information • On May 28, 2020, the “Comunicato Stampa” issued by On July 28, 2020, the following was reported as a Enel S.p.A. our ultimate parent Company Significant Event and in relation to the Significant Event The Italian company informs the market that it has informed that the Board of Directors had approved the increased its participation in Enel Américas S.A., reaching 2020-22 Strategic Plan, as follows: issued to the market on November 26, 2019, in which we 62.3%. More details can be found in the “Comunicato Stampa” issued by Enel S.p.A.. We included, within the aforementioned Strategic Plan, some macro-elements for the 2020 – 2022 triennium as ENEL REACHES 62.3% OF ENEL AMERICAS’ SHARE well as EBITDA and CAPEX projections. We indicated that CAPITAL the contents of the Strategic Plan followed and were based on hypothetical projections that may or may not undergo › Enel has increased its shareholding in Enel Américas by certain variations in the future. an additional 5%, in line with Enel Group’s announced objective to buy out minorities in South America Taking into consideration factors affecting current conditions, such as exchange rate fluctuations that affect Rome, May 28th, 2020 – Enel S.p.A. (“Enel”) has increased the Company and its subsidiaries’ operations, as well as its stake in its Chilean subsidiary Enel Américas S.A. (“Enel the effects of the Covid-19 pandemic, we anticipate and Américas”) to 62.3% of the company’s share capital, forecast significant variations in the macro-elements by settling two share swap transactions (the “Swap included in the Strategic Plan for the 2020 financial year. Transactions”) entered into in June 2019 with a financial institution to acquire up to 5% of the share capital of Enel Therefore, we have revised our projections based on the Américas, as announced to the financial markets at the time. Company´s current conditions and results in the first half of 2020, we expect a negative variation in EBITDA in relation Pursuant to the Swap Transactions, Enel has acquired: to the approximate range initially forecasted between US$0.8 billion and US$1.0 billion, principally stemming from › 2,492,146,691 shares of Enel Américas common stock; exchange rate fluctuations. In relation to CAPEX, we do not and foresee any significant variations from what was reported › › 26,243,377 Enel Américas American depositary shares in November 2019. (“ADSs”), each representing 50 shares of Enel Américas common stock; Given that the above figures follow and are based on hypothetical projections that may or may not be verified in The above-mentioned securities represent, in the the future, their effects are not determinable at this stage. aggregate, 5% of Enel Américas’ share capital. On August 18, 2020, the “Comunicato Stampa” issued by In accordance with the Swap Transactions, the total price Enel S.p.A. our ultimate parent Company paid for the shares of Enel Américas common stock and ADSs amounts to approximately 701 million US dollars, The Italian company has increased its shareholding in Enel equal to around 639 million euros. Américas S.A.. Enel S.p.A. acquired American Depositary Shares (ADSs) and common shares, reaching 65% of the Enel’s payment obligations under the Swap Transactions share capital of Enel Américas S.A., which is in line with have been funded through internal cash flow generation. what was previously announced to the market. More details can be found in the "Comunicato Stampa," attached. As announced to the financial market, Enel entered into two further share swap transactions in April 2020 to acquire, on ENEL reaches 65% OF ENEL AMÉRICAS’ SHARE CAPITAL dates that are expected to occur no later than the end of 2020, additional shares of Enel Américas’ common stock › Enel has increased its shareholding in Enel Américas by and American Depositary Shares by up to a further 2.7%, an additional 2.7%, in line with Enel Group’s announced reaching up to 65% of the company’s share capital. objective to increase its stake in the Group’s companies The above-mentioned transactions are in line with the Enel Group’s announced objective to buy out minorities in Rome, August 18th, 2020 – Enel S.p.A. (“Enel”) has subsidiaries operating in South America. increased its stake in its Chilean subsidiary Enel Américas operating in South America, buying out minorities 455 Annual Report Enel Américas 2020 S.A. (“Enel Américas”) to 65% of the company’s share The Board of Directors of Enel Américas recognizes in capital, by settling two share swap transactions (the “Swap its strategic analysis that in the current regional context, Transactions”) entered into in April 2020 with a financial renewable energies are strongly increasing their presence institution to acquire up to 2.7% of the share capital of Enel and unequivocally changing the traditional competitive Américas, announced to the financial markets at the time. model prevalent in the energy sector. For Enel Américas to continue to strengthen its growth strategy, capture all the Pursuant to the Swap Transactions, Enel has acquired: future opportunities and consolidate its position as a player whose aim is to lead the energy transition in Central and › 1,432,455,895 shares of Enel Américas common stock; South America, it is highly recommended to consolidate and the participation in non-conventional energy companies as › 13,012,507 Enel Américas’ American depositary described in the previous paragraph within the Company´s shares(“ADSs”), each representing 50 shares of Enel perimeter of actions. Américas common stock. Should the merger be approved, the consolidation of this non- The above-mentioned securities represent, in the conventional renewable energy business within the Company's aggregate, 2.7% of Enel Américas’ share capital. current perimeter would lead to a completely integrated Group in operational terms, permitting us to become a leader with In accordance with the Swap Transactions, the total price diversified generation technology, present in the generation and paid for the shares of Enel Américas common stock and distribution businesses, developing innovative digital products ADSs amounts to approximately 324 million US dollars, and advanced energy solutions. This new diversification, which equal to around 275 million euros, and was funded through would additionally involve a wider geographical presence, internal cash flow generation. would offer the Company's shareholders access to cash flows from a new and promising business, keeping Enel Américas The above-mentioned transactions are in line with the Enel financially sound which would, in turn, allow us to continue Group’s announced objective to increase its stake in the capturing other attractive growth opportunities in the Central Group’s companies operating in South America, buying and South American region. out minorities. • On September 21, 2020, the following was reported as a Central and South America (except Chile), would give The incorporation of the aforementioned business in Significant Event: the Company immediate access to the know-how and proven experience of Enel Green Power, a leader in The Board of Directors of Enel Américas S.A. (hereinafter renewable energies on a global scale, maintaining the "Enel Américas" or the "Company") at an ordinary session financial discipline that has always characterized the held on September 21, 2020 , has unanimously resolved Enel Américas Group. to initiate a merger aimed at the acquisition - by Enel Américas - of the subsidiaries of non- conventional To explore Enel SpA's interest in this integration proposal, renewable energy that Enel Green Power S.p.A. ("Enel the Board of Directors of Enel Américas requested that the Green Power"), a related company, owns in Central and Company, its ultimate Controller, and Enel Green Power South America (except Chile). To optimize the financial SpA, state their views on the proposal. Enel SpA responded structure of Enel Américas and to sustain the future growth on September 21 stressing its interest in the operation, of the aforementioned subsidiaries, the acquisition will be provided that it should be carried out at market prices carried out through a merger by incorporation where Enel and through an operation, such as a merger, which would Américas will integrate into its assets a company that shall guarantee that Enel Américas would be able to maintain a own the shares that Enel Green Power currently holds in financial position that would support not only the future non-conventional renewable energy companies domiciled development of renewable projects but also the prospects in Argentina, Brazil, Colombia, Peru, Costa Rica, Guatemala, for the Company´s growth. In any event, Enel SpA indicated and Panama. 456456456 that said letter did not contain a binding decision, which shall be reserved for when all the terms and conditions of 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Informationthe operation are known. A copy of the aforementioned 2. The background information provided on this site includes communication is hereby attached. the Resolution of Sole Administrator of EGP Americas dated October 1, 2020, which approves the nomination To make this merger feasible, it is necessary to submit for the of David Jana Bitrán as an independent Merger expert. consideration of the Enel Américas shareholders' meeting the elimination of the concentration limits established in • On October 28, 2020, the following was reported as a its statutes pursuant to Title XII of D.L. 3,500, which prevent Significant Event: a person from concentrating more than 65% of the voting capital of Enel Américas, among other relevant limitations. Enel Américas S.A. (the "Company") has been informed that Furthermore, the shareholders' meeting should also its ADRs have been included in an unsponsored program of approve this merger as an Operation with Related Parties Brazilian Depositary Receipts ("BDRs"). under Title XVI of the Public Limited Companies Act which requires the appointment of independent evaluators. The BDRs are issued as an alternative investment in the Company through the Brazilian market and have as their The Board and the Committee of Directors of Enel underlying asset the American Depositary Receipts ("ADRs") Américas, in the relevant ordinary sessions held today, that the Company issues. Therefore, the rights of the BDR nominated, respectively, Banco Santander and Banchile holders derive from the rights of the underlying ADRs, and Asesoría Financiera S.A. as independent evaluators of the depositary bank of the BDRs – Banco B3 – bears the the above-mentioned merger, as an operation between commercial and legal relationship with the BDR holders. related parties. The Board of Directors also nominated Pablo D’Agliano as an independent expert to supervise Given the unsponsored nature of this BDR program, the the operation, as required by the Public Limited Company informs that it has not signed any contract for the Companies Act. issuance of the BDRs and, consequently, it has not entered into any obligations in the Brazilian market. As a result, the ADRs Finally, we would like to inform you that on Tuesday, issued by the Company may be traded not only on the New September 22, 2020, at 9:00 Santiago de Chile time, Enel York Stock Exchange (NYSE) but also on the Sao Paulo State Américas will make a presentation regarding the operation Stock Exchange (Bovespa) once they are converted to BDRs. described in this communication, addressed to all local and foreign investors, shareholders, and the market in On october 28, 2020 hereby come to provide the general. Access details to join this event and a copy of the following additional information related to the merger by presentation will be available to all the interested parties on incorporation, hereinafter the “Merger”, through which Enel the Company’s website: www.enelamericas.com. Américas S.A. will acquire the ownership and control of the subsidiaries of unconventional renewable energy that Enel On October 9, 2020, the following was reported as Green Power S.p.A., a related company, owns in Central and a Significant Event and in relation to the merger by South America (except Chile), hereinafter the “Subsidiaries.” incorporation through which Enel Américas S.A. would The Merger was the subject of the Significant Events issued acquire the ownership and control of the subsidiaries of on September 21, 2020, and October 9, 2020: unconventional renewable energy that Enel Green Power S.p.A., a related company, owns in Central and South 1. The completion of the Merger through which Enel America (except Chile), hereinafter the Merger, whose Américas S.A. will absorb EGP Américas SpA and, formal launch was announced in a Significant Event dated consequently, incorporate the Subsidiaries that the September 21, 2020 as follows: latter shall include, requires the implementation of the preparatory actions described in (i) and (ii). It should 1. We have learned that Enel SpA, Enel Américas’ parent be noted that such preparatory actions will be carried company, has acquired a company in Chile called EGP out directly by Enel SpA, Enel Américas S.A.´s Italian Américas SpA ("EGP Américas”), which would have parent company and without its intervention, since the ownership and control of the aforementioned they represent its internal redistributions: renewable energy subsidiaries and which would be absorbed by Enel Américas. This company’s (i) The division of Enel Green Power SpA, (100% Italian background and characteristics relevant to the Merger subsidiary of Enel SpA) and the creation of a new are published on the following website https://www. Italian company, as result of that excision, called Enel enelgreenpower.com/es/paises/egp-americas. Rinnovabili Srl, (100% Italian subsidiary of Enel SpA), 457 Annual Report Enel Américas 2020to which the Subsidiaries shall be assigned, and The transfer of the Subsidiaries from Enel Rinnovabili Srl to EGP Américas SpA, via the international merger, is expected (ii) International merger through which EGP to take place during the first quarter of 2021. Therefore, the Américas SpA (100% Chilean subsidiary of Enel transfer is necessary to legally approve the Merger. SpA, information on which was provided in the Significant Event issued on October 9) will absorb The transfer of Subsidiaries from EGP Americas to Enel Enel Rinnovabili Srl (100% Italian subsidiary of Enel Américas S.A. via the Merger is expected to take place SpA). Enel S.p.A., as the sole shareholder of Enel during the second quarter of 2021 as announced to the Rinnovabili Srl and EGP Américas SpA, shall approve market on September 22, 2020. the international merger. 2. The Subsidiaries to be integrated into Enel Américas S.A. through the Merger are as follows1: 1 It is hereby indicated that Enel Green Power SpA participates in the subsidiaries directly or indirectly, in the latter case through a Chilean holding company called Energy and Services South America SpA. The latter company has no operations in Chile and is the owner, among others, of 100% of Enel Green Power Costa Rica S.A. 458458458 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information 459 Annual Report Enel Américas 2020 COUNTRY COMPANIES Argentina Enel Green Power Argentina S.A. Parque Solar Cauchari IV S.A. 1. 2. Brazil Alba Energia Ltda Alvorada Energia S.A. Apiacás Energia S.A. Bondia Energia Ltda Central Geradora Fotovoltaica Bom Nome Ltda Enel Green Power Aroeira 01 S.A. Enel Green Power Aroeira 02 S.A. Enel Green Power Aroeira 05 S.A. Enel Green Power Aroeira 06 S.A. Enel Green Power Aroeira 07 S.A. Enel Green Power Boa Vista Eólica S.A. Enel Green Power Brasil Participações Ltda (*) Enel Green Power Brejolândia Solar S.A. Enel Green Power Cabeça de Boi S.A. Enel Green Power Cerrado Solar S.A. Enel Green Power Cristal Eólica S.A Enel Green Power Cumaru 01 S.A. Enel Green Power Cumaru 02 S.A Enel Green Power Cumaru 03 S.A Enel Green Power Cumaru 04 S.A Enel Green Power Cumaru 05 S.A. Enel Green Power Cumaru Participações S.A Enel Green Power Cumaru Solar 01 S.A. Enel Green Power Cumaru Solar 02 S.A. Enel Green Power Damascena Eólica S.A. Enel Green Power Delfina A Eólica S.A. Enel Green Power Delfina B Eólica S.A. Enel Green Power Delfina C Eólica S.A. Enel Green Power Delfina D Eólica S.A. Enel Green Power Delfina E Eólica S.A. Enel Green Power Desenvolvimento Ltda Enel Green Power Dois Riachos Eólica S.A. Enel Green Power Emiliana Eólica S.A. Enel Green Power Esperança Eólica S.A. Enel Green Power Esperança Solar S.A. Enel Green Power Fazenda S.A. Enel Green Power Fontes dos Ventos 02 S.A. Enel Green Power Fontes dos Ventos 03 S.A. Enel Green Power Fontes Solar S.A. Enel Green Power Horizonte MP Solar S.A. Enel Green Power Ituverava Norte Solar S.A. Enel Green Power Ituverava Solar S.A. Enel Green Power Ituverava Sul Solar S.A. Enel Green Power Joana Eólica S.A. Enel Green Power Lagoa do Sol 09 Enel Green Power Lagoa do Sol 1 S.A. Enel Green Power Lagoa do Sol 2 S.A. Enel Green Power Lagoa do Sol 3 S.A. Enel Green Power Lagoa do Sol 4 S.A. Enel Green Power Lagoa do Sol 5 S.A. Enel Green Power Lagoa do Sol 6 S.A. Enel Green Power Lagoa do Sol 7 S.A. Enel Green Power Lagoa do Sol 8 S.A. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. 31. 32. 33. 34. 35. 36. 37. 38. 39. 40. 41. 42. 43. 44. 45. 46. 47. 48. 49. 50. 51. 52. 53. 460460460 COUNTRY COMPANIES 54. 55. 56. 57. 58. 59. 60. 61. 62. 63. 64. 65. 66. 67. 68. 69. 70. 71. 72. 73. 74. 75. 76. 77. 78. 79. 80. 81. 82. 83. 84. 85. 86. 87. 88. 89. 90. 91. 92. 93. 94. 95. 96. 97. 98. 99. 100. 101. 102. 103. 104. 105. 106. 107. 108. 109. 110. 111. Enel Green Power Maniçoba Eólica S.A. Enel Green Power Modelo Eólica I S.A. Enel Green Power Modelo Eólica II S.A. Enel Green Power Morro do Chapéu Eólica I S.A. Enel Green Power Morro do Chapéu Eólica II S.A. Enel Green Power Mourão S.A. Enel Green Power Paranapanema S.A. Enel Green Power Pau Ferro Eólica S.A. Enel Green Power Pedra do Gerônimo Eólica S.A. Enel Green Power Primavera Eólica S.A. Enel Green Power Salto Apiacás S.A. Enel Green Power São Abraão Eólica S.A. Enel Green Power São Gonçalo 1 S.A. Enel Green Power São Gonçalo 10 S.A. Enel Green Power São Gonçalo 11 S.A Enel Green Power São Gonçalo 12 S.A Enel Green Power São Gonçalo 14 S.A Enel Green Power São Gonçalo 15 S.A Enel Green Power São Gonçalo 17 S.A. Enel Green Power São Gonçalo 18 S.A. Enel Green Power São Gonçalo 19 S.A. Enel Green Power São Gonçalo 2 S.A. Enel Green Power São Gonçalo 21 S.A. Enel Green Power São Gonçalo 22 S.A. Enel Green Power São Gonçalo 3 S.A. Enel Green Power São Gonçalo 4 S.A. Enel Green Power São Gonçalo 5 S.A. Enel Green Power São Gonçalo 6 S.A. Enel Green Power São Gonçalo 7 S.A. Enel Green Power São Gonçalo 8 S.A. Enel Green Power São Judas Eólica S.A. Enel Green Power São Micael 01 Enel Green Power São Micael 02 Enel Green Power São Micael 03 Enel Green Power São Micael 04 Enel Green Power São Micael 05 Enel Green Power Tacaicó Eólica S.A. Enel Green Power Ventos de Santa Ângela 1 S.A. Enel Green Power Ventos de Santa Ângela 2 S.A. Enel Green Power Ventos de Santa Ângela 3 S.A. Enel Green Power Ventos de Santa Ângela 4 S.A. Enel Green Power Ventos de Santa Ângela 5 S.A. Enel Green Power Ventos de Santa Ângela 6 S.A Enel Green Power Ventos de Santa Ângela 7 S.A Enel Green Power Ventos de Santa Ângela 8 S.A Enel Green Power Ventos de Santa Ângela 9 S.A Enel Green Power Ventos de Santa Ângela 10 S.A Enel Green Power Ventos de Santa Ângela 11 S.A Enel Green Power Ventos de Santa Ângela 14 S.A Enel Green Power Ventos de Santa Ângela 15 S.A Enel Green Power Ventos de Santa Ângela 17 S.A Enel Green Power Ventos de Santa Ângela 19 S.A Enel Green Power Ventos de Santa Ângela 20 S.A Enel Green Power Ventos de Santa Ângela 21 S.A Enel Green Power Ventos de Santa Angela ACL 12 S.A Enel Green Power Ventos de Santa Angela ACL 13 S.A Enel Green Power Ventos de Santa Angela ACL 16 S.A Enel Green Power Ventos de Santa Angela ACL 18 S.A 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationCOUNTRY COMPANIES COUNTRY COMPANIES 112. 113. 114. 115. 116. 117. 118. 119. 120. 121. 122. 123. 124. 125. 126. 127. 128. 129. 130. 131. 132. 133. 134. 135. 136. 137. 138. 139. 140. 141. 142. 143. 144. 145. 146. 147. 148. 149. 150. 151. 152. 153. 154. 155. 156. 157. 158. 159. 160. 161. 162. 163. 164. 165. 166. 167. 168. 169. Enel Green Power Ventos de Santa Esperança 03 S.A Colombia Enel Green Power Ventos de Santa Esperança 07 S.A. 1. Enel Green Power Colombia S.A.S. ESP. Enel Green Power Ventos de Santa Esperança 08 S.A. Enel Green Power Ventos de Santa Esperança 1 S.A. Costa Rica Enel Green Power Ventos de Santa Esperança 13 S.A. Enel Green Power Ventos de Santa Esperança 15 S.A. Enel Green Power Ventos de Santa Esperança 16 S.A. Enel Green Power Ventos de Santa Esperança 17 S.A. Enel Green Power Ventos de Santa Esperança 21 S.A. Enel Green Power Ventos de Santa Esperança 22 S.A. Enel Green Power Ventos de Santa Esperança 25 S.A. Enel Green Power Ventos de Santa Esperança 26 S.A. 1. 2. 3. 4. 5. 6. 7. Enel Green Power Costa Rica S.A. PH Chucas S.A. PH Guacino S.A. Globyte S.A. PH Río Volcán, S.A. Ph Don Pedro, S.A. Energía Global Operaciones S.R.L. Enel Green Power Ventos de Santo Orestes 1 S.A. Guatemala Enel Green Power Ventos de Santo Orestes 2 S.A. Enel Green Power Ventos de São Roque 01 S.A. Enel Green Power Ventos de São Roque 02 S.A. Enel Green Power Ventos de São Roque 03 S.A. Enel Green Power Ventos de São Roque 04 S.A. Enel Green Power Ventos de São Roque 05 S.A. Enel Green Power Ventos de São Roque 06 S.A. 1. 2. 3. 4. 5. 6. Enel Green Power Guatemala S.A. Renovables de Guatemala S.A. Generadora de Occidente Ltda. Transmisora de Energía Renovable S.A. Generadora Montecristo S.A. Tecnoguat S.A. Enel Green Power Ventos de São Roque 07 S.A. Panamá Enel Green Power Ventos de São Roque 08 S.A. Enel Green Power Ventos de São Roque 11 S.A. Enel Green Power Ventos de São Roque 13 S.A. Enel Green Power Ventos de São Roque 16 S.A. Enel Green Power Ventos de São Roque 17 S.A. Enel Green Power Ventos de São Roque 18 S.A. Enel Green Power Ventos de São Roque 19 S.A. Enel Green Power Ventos de São Roque 22 S.A. Enel Green Power Ventos de São Roque 26 S.A. Enel Green Power Ventos de São Roque 29 S.A. Enel Green Power Zeus II - Delfina VIII S.A. Enel Green Power Zeus Sul 1 Ltda. Enel Green Power Zeus Sul 2 S.A. Enel Green Power Fontes II Participações S.A. Enel Green Power Lagoa II Participações S.A. Enel Green Power Lagoa III Participações S.A. Enel Green Power Lagoa Participações S.A. Enel Green Power São Gonçalo III Participações S.A. Enel Green Power São Gonçalo Participações S.A. Enel Green Power Ventos de Santa Esperança Participações S.A. Enel Soluções Energéticas Ltda. EnelPower Ltda. Fótons de Santo Anchieta Energias Renováveis S.A. Isamu Ikeda Jade Enertgia Ltda. Parque Eólico Palmas dos Ventos Ltda. Enel Green Power Boa Vista 01 Ltda. Primavera Energia S.A. Quatiara Energia S.A. Socibe Energia S.A. Ventos de Santa Angela Energias Renováveis S.A. 1. 2. 3. 4. 5. 6. 7. 8. Perú 1. 2. 3. 4. Enel Green Power Panamá S.R.L. Enel Fortuna, S.A. Generadora Eólica Alto Pacora S.R.L. Llano Sánchez Solar Power One S.R.L. Enel Solar, S.R.L. Generadora Solar Tole S.R.L. Jagüito Solar 10 MW, S.A. Progreso Solar 20 MW, S.A. Enel Green Power Perú S.A.C. Energética Monzón S.A.C. Empresa de Generación Eléctrica Marcona S.A.C. Empresa de Generación Eléctrica Los Pinos S.A.C. 3. As requested, the available summarized financial information related to said companies to be integrated into Enel Américas S.A. through the Merger and which permit public access to financial information is attached in Annex 1. The evaluators and experts who are analyzing the operation have had access to the information related to the relevant companies that is not public and they will shortly have access to updated accounting information that will allow them to complete the preparation of their reports. 4. For more information we hereby attach a presentation made available to the market on September Ventos de Santa Esperança Energias Renováveis S.A. 22, 2020 and published on the Company's website on Ventos de Santo Orestes Energias Renovaveis S.A. Ventos de São Roque Energias Renováveis S.A. Enel Green Power Aroeira 03 S.A. Enel Green Power Aroeira 04 S.A. Enel Green Power Aroeira 08 S.A. the same date. Furthermore, we would like to stress that once the evaluators´ and experts´ reports are presented to the Board, they will be available to the market on the Company's website (*) A holding company in Brazil that controls and consolidates all the companies in Brazil. 461 Annual Report Enel Américas 2020Companies Enel Green Power Argentina SA Enel Green Power Brasil Participações Ltda. Alvorada Energia S.A. Apiacás Energia S.A. Enel Green Power Boa Vista Eólica S.A. Enel Green Power Cabeça de Boi S.A. Enel Green Power Cristal Eólica S.A Enel Green Power Cumaru 01 S.A. Enel Green Power Cumaru 02 S.A. Enel Green Power Cumaru 03 S.A. Enel Green Power Cumaru 04 S.A. Enel Green Power Cumaru 05 S.A. Enel Green Power Damascena Eólica S.A. Enel Green Power Delfina A Eólica S.A. Enel Green Power Delfina B Eólica S.A. Enel Green Power Delfina C Eólica S.A. Companies Enel Green Power Delfina D Eólica S.A. Enel Green Power Delfina E Eólica S.A. Enel Green Power Desenvolvimento Ltda. Enel Green Power Dois Riachos Eólica S.A. Enel Green Power Emiliana Eólica S.A. Enel Green Power Esperança Eólica S.A. Enel Green Power Fazenda S.A. Enel Green Power Horizonte MP Solar S.A. Enel Green Power Ituverava Norte Solar S.A. Enel Green Power Ituverava Solar S.A. Enel Green Power Ituverava Sul Solar S.A. Enel Green Power Joana Eólica S.A. Enel Green Power Maniçoba Eólica S.A. Enel Green Power Modelo I Eólica S.A. Enel Green Power Modelo II Eólica S.A. Enel Green Power Morro Do Chapeu I Eolica S.A. Companies Enel Green Power Morro Do Chapeu II Eolica S.A. Enel Green Power Mourão S.A. Enel Green Power Paranapanema S.A. Enel Green Power Pau de Ferro S.A. Enel Green Power Pedra do Gerônimo Eólica S.A. Enel Green Power Primavera Eólica S.A Enel Green Power Salto Apiacás S.A. Enel Green Power São Abraão S.A. Enel Green Power Sao Goncalo 01 S.A. Enel Green Power Sao Goncalo 02 S.A. Enel Green Power Sao Goncalo 03 S.A. Enel Green Power Sao Goncalo 04 S.A. Enel Green Power Sao Goncalo 05 S.A. Enel Green Power Sao Goncalo 06 S.A. Enel Green Power Sao Goncalo 07 S.A. Enel Green Power Sao Goncalo 08 S.A. 12/31/2019 Argentina Financial Statements Country Individual Consolidated Brasil Brasil Individual Brasil Individual Brasil Individual Brasil Individual Brasil Individual Brasil Individual Brasil Individual Brasil Individual Brasil Individual Brasil Individual Brasil Individual Brasil Individual Brasil Individual Brasil Individual 12/31/2019 Financial Statements Country Individual Individual Individual Individual Individual Individual Individual Individual Individual Individual Individual Individual Individual Individual Individual Individual Brasil Brasil Brasil Brasil Brasil Brasil Brasil Brasil Brasil Brasil Brasil Brasil Brasil Brasil Brasil Brasil 12/31/2019 Financial Statements Country Individual Individual Individual Individual Individual Individual Individual Individual Individual Individual Individual Individual Individual Individual Individual Individual Brasil Brasil Brasil Brasil Brasil Brasil Brasil Brasil Brasil Brasil Brasil Brasil Brasil Brasil Brasil Brasil Current Assets USD Th - 401.738 1.256 3.673 11.159 7.485 3.571 77 73 36 57 - 4.619 12.740 8.747 3.404 Current Assets USD Th 9.050 10.756 2.881 5.566 3.849 2.687 3.337 7.235 4.565 6.047 7.239 2.755 5.142 3.475 2.772 14.730 Current Assets USD Th 17.569 2.515 7.057 2.054 6.830 4.354 7.510 11.860 608 1.146 260 205 427 440 873 212 Non- Current Assets USD Th - 3.113.729 7.199 4.987 47.997 85.958 48.450 7.928 5.674 5.384 5.662 5.001 37.569 156.685 44.527 14.548 Non- Current Assets USD Th 48.804 49.098 4.808 39.091 37.061 39.510 78.386 134.130 104.585 102.151 178.668 36.276 39.336 35.715 31.338 118.945 Non- Current Assets USD Th 92.621 8.123 37.171 37.016 48.913 53.089 83.914 45.776 34.817 35.856 50.444 39.230 38.185 22.657 5.412 4.649 Total Assets USD Th - 3.515.467 8.455 8.661 59.155 93.442 52.021 8.005 5.747 5.420 5.720 5.001 42.188 169.425 53.274 17.952 Total Assets USD Th 57.854 59.854 7.689 44.657 40.910 42.197 81.723 141.365 109.150 108.198 185.906 39.031 44.479 39.190 34.109 133.674 Total Assets USD Th 110.191 10.638 44.227 39.070 55.743 57.443 91.424 57.637 35.426 37.001 50.703 39.435 38.611 23.097 6.285 4.861 Current Liabilities USD Th - 759.848 2.362 1.775 2.645 6.229 8.864 3.310 1.388 988 1.430 1.314 4.429 20.199 3.224 829 Current Liabilities USD Th 3.441 3.768 3.287 3.036 2.554 4.858 7.805 13.318 11.279 12.512 24.466 2.362 3.740 4.365 3.469 16.551 Current Liabilities USD Th 4.064 1.014 5.443 3.817 2.708 10.478 5.477 2.678 7.995 16.320 11.521 27.403 27.533 15.251 4.148 3.208 Non- Current Liabilities USD Th - 871.655 3 3 20.509 28.555 2.585 207 223 233 222 198 17.619 65.545 21.216 5.516 Non- Current Liabilities USD Th 21.860 21.822 47 1.142 530 885 18.941 18.927 53.298 53.225 81.467 811 16.344 1.080 832 2.126 Non- Current Liabilities USD Th 1.765 25 0 896 672 2.130 24.688 20.461 302 330 328 330 330 302 228 282 Total Liabilities and Equity USD Th - 3.515.467 8.455 8.661 59.155 93.442 52.021 8.005 5.747 5.420 5.720 5.001 42.188 169.425 53.274 17.952 Total Liabilities and Equity USD Th 57.854 59.854 7.689 44.657 40.910 42.197 81.723 141.365 109.150 108.198 185.906 39.031 44.479 39.190 34.109 133.674 Total Liabilities and Equity USD Th 110.191 10.638 44.227 39.070 55.743 57.443 91.424 57.637 35.426 37.001 50.703 39.435 38.611 23.097 6.285 4.861 Revenues USD Th - 322.034 2.226 5.764 7.808 7.667 6.648 - - - - - 5.900 13.830 6.670 1.701 Revenues USD Th 7.193 9.298 - 7.480 5.865 5.109 6.287 15.408 6.727 7.684 10.590 6.436 4.751 6.800 5.503 14.136 Revenues USD Th 14.036 2.654 10.584 6.829 7.458 7.263 10.634 7.752 88 - - - - - - - Equity USD Th (1.123) 1.883.963 6.090 6.883 36.002 58.658 40.573 4.488 4.136 4.199 4.068 3.489 20.139 83.680 28.834 11.607 Equity USD Th 32.552 34.264 4.354 40.479 37.825 36.455 54.977 109.120 44.573 42.461 79.973 35.858 24.394 33.745 29.808 114.997 Equity USD Th 104.361 9.599 38.784 34.357 52.363 44.835 61.259 34.499 27.129 20.351 38.854 11.702 10.747 7.544 1.908 1.371 EBIT USD Th - 204.211 647 3.818 4.770 2.688 3.464 (19) (19) (18) (18) (17) 2.987 5.413 3.716 832 EBIT USD Th 3.787 6.207 73 3.750 2.348 2.368 1.719 8.097 2.277 1.690 3.076 2.995 1.908 2.841 2.429 7.958 EBIT USD Th 9.217 2.475 7.721 3.619 3.859 4.256 3.163 4.883 (92) (24) (96) (24) (20) (6) (5) (4) Net Income USD Th (2.239) 66.681 555 3.594 2.916 (348) 2.065 (19) (19) (18) (18) (17) 756 2.776 2.044 383 Net Income USD Th 1.951 4.306 54 3.605 2.086 2.217 (569) 5.704 1.084 556 1.217 2.830 (31) 2.586 2.184 7.490 Net Income USD Th 9.036 2.409 7.429 3.399 3.812 2.866 264 3.073 26 (265) (405) (19) (15) (137) (9) (9) 462462462 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationCompanies Enel Green Power Sao Goncalo 10 S.A. Enel Green Power Sao Goncalo 11 S.A. Enel Green Power Sao Goncalo 12 S.A. Enel Green Power Sao Goncalo 21 S.A. Enel Green Power Sao Goncalo 22 S.A. Enel Green Power São Judas Eólica S.A. Enel Green Power Tacaicó Eólica S.A. Enel Green Power Ventos De Santa Ângela 01 S.A. Enel Green Power Ventos De Santa Ângela 02 S.A. Enel Green Power Ventos De Santa Ângela 03 S.A. Enel Green Power Ventos De Santa Ângela 04 S.A. Enel Green Power Ventos De Santa Ângela 05 S.A. Enel Green Power Ventos De Santa Ângela 06 S.A. Enel Green Power Ventos De Santa Ângela 07 S.A. Enel Green Power Ventos De Santa Ângela 08 S.A. Enel Green Power Ventos De Santa Ângela 09 S.A. Companies Enel Green Power Ventos De Santa Ângela 10 S.A. Enel Green Power Ventos De Santa Ângela 11 S.A. Enel Green Power Ventos De Santa Ângela 14 S.A. Enel Green Power Ventos De Santa Ângela 15 S.A. Enel Green Power Ventos De Santa Ângela 17 S.A. Enel Green Power Ventos De Santa Ângela 19 S.A. Enel Green Power Ventos De Santa Ângela 20 S.A. Enel Green Power Ventos De Santa Ângela 21 S.A. Enel Green Power Ventos de Santa Angela ACL 16 S. Enel Green Power Ventos de Santa Esperança 13 S.A. Enel Green Power Ventos de Santa Esperança 15 S.A. Enel Green Power Ventos De Santa Esperança 16 S.A. Enel Green Power Ventos de Santa Esperança 17 S.A. Enel Green Power Ventos de Santa Esperança 21 S.A. Enel Green Power Ventos de Santa Esperança 22 S.A. Enel Green Power Ventos de Santa Esperança 26 S.A. Companies Enel Green Power Zeus II Delfina VIII Eólica S.A. Enel Soluções Energéticas Ltda. Isamu Ikeda Energia S.A. Primavera Energia S.A. Quatiara Energia S.A. Socibe Energia S.A. Energia Y Servicios South America Spa Enel Green Power Colombia SAs Esp Enel Green Power Costa Rica Ph Chucas SA Enel Green Power Guatemala SA Renovables De Guatemala SA Transmisora De Energia Renovable SA Enel Green Power Panama SA Enel Green Power Perú SA 12/31/2019 Financial Statements Country Individual Individual Individual Individual Individual Individual Individual Individual Individual Individual Individual Individual Individual Individual Individual Individual 12/31/2019 Brasil Brasil Brasil Brasil Brasil Brasil Brasil Brasil Brasil Brasil Brasil Brasil Brasil Brasil Brasil Brasil Financial Statements Country Individual Individual Individual Individual Individual Individual Individual Individual Individual Individual Individual Individual Individual Individual Individual Individual Brasil Brasil Brasil Brasil Brasil Brasil Brasil Brasil Brasil Brasil Brasil Brasil Brasil Brasil Brasil Brasil 12/31/2019 Current Assets USD Th 248 147 191 283 301 4.511 2.738 80 24.448 7 2 5 3 54 139 7 Current Assets USD Th 6 4 27 6 3 2 3 6 4 229 225 4.470 377 13 37 4 Financial Statements Country Brasil Individual Brasil Individual Brasil Individual Brasil Individual Brasil Individual Brasil Individual Consolidated Chile Individual Individual Individual Individual Individual Individual Individual Individual Current Assets USD Th 6.816 1.135 8.213 4.934 1.289 10.512 - Colombia - Costa Rica - Costa Rica - Guatemala - Guatemala - Guatemala - - Panama - Perú SA Non- Current Assets USD Th 34.667 7.771 3.723 24.265 35.710 46.639 23.972 29.679 35.496 24.884 24.801 23.888 23.586 18.289 18.192 13.293 Non- Current Assets USD Th 24.155 31.875 42.673 14.617 19.234 13.586 15.140 17.894 3.652 4.137 5.970 3 4.559 4.789 4.793 6.608 Non- Current Assets USD Th 35.306 12.809 11.900 16.478 3.551 3.750 - - - - - - - - - Total Assets USD Th 34.915 7.918 3.913 24.548 36.011 51.150 26.710 29.759 59.944 24.891 24.803 23.893 23.590 18.343 18.331 13.299 Total Assets USD Th 24.161 31.880 42.700 14.623 19.237 13.588 15.144 17.900 3.655 4.366 6.195 4.473 4.936 4.803 4.830 6.612 Total Assets USD Th 42.122 13.944 20.113 21.412 4.841 14.262 - - - - - - - - - Current Liabilities USD Th 24.514 3.390 3.058 9.586 11.405 8.926 1.906 16.236 10.342 3.430 3.839 14.613 17.212 12.300 11.597 5.233 Current Liabilities USD Th 3.773 9.054 22.473 9.731 8.279 9.917 12.164 13.256 802 974 775 701 840 763 765 2.560 Current Liabilities USD Th 6.323 2.779 2.334 6.121 660 6.892 - - - - - - - - - Non- Current Liabilities USD Th 330 228 228 330 330 2.158 596 284 300 292 282 307 296 219 273 401 Non- Current Liabilities USD Th 362 364 502 390 432 259 291 251 274 - - - - - - - Non- Current Liabilities USD Th 958 209 57 23 43 - - - - - - - - - - Total Liabilities and Equity USD Th 34.915 7.918 3.913 24.548 36.011 51.150 26.710 29.759 59.944 24.891 24.803 23.893 23.590 18.343 18.331 13.299 Total Liabilities and Equity USD Th 24.161 31.880 42.700 14.623 19.237 13.588 15.144 17.900 3.655 4.366 6.195 4.473 4.936 4.803 4.830 6.612 Total Liabilities and Equity USD Th 42.122 13.944 20.113 21.412 4.841 14.262 - - - - - - - - - Revenues USD Th - - - - 44 7.023 4.381 - - - - - - - - - Revenues USD Th - - - - - - - - - - - - - - - - Revenues USD Th 6.573 1.275 8.424 8.722 920 6.076 - - - - - - - - - EBIT USD Th (20) (4) (5) (153) (143) 3.716 2.121 (21) (10) (17) (22) (29) (22) (16) (15) (19) EBIT USD Th (20) (30) (164) (18) (20) (15) (18) (44) (9) (8) (7) (0) (7) (0) (0) (0) EBIT USD Th 2.478 109 5.578 6.058 (236) 4.820 - - - - - - - - - Equity USD Th 10.071 4.300 627 14.632 24.275 40.066 24.208 13.239 49.303 21.169 20.682 8.973 6.081 5.823 6.461 7.665 Equity USD Th 20.026 22.461 19.725 4.503 10.526 3.413 2.689 4.393 2.579 3.392 5.420 3.772 4.096 4.039 4.064 4.052 Equity USD Th 34.842 10.955 17.722 15.268 4.137 7.370 400.929 75.244 143.750 120.166 (1.123) 345.899 34.815 165.088 96.582 Net Income USD Th (37) (12) (16) (207) (84) 2.295 2.006 (34) (116) (169) (177) 26 21 19 22 42 Net Income USD Th (39) (299) (204) 43 160 29 26 (8) 11 (8) (7) (0) (8) (0) (0) (0) Net Income USD Th 1.024 83 5.306 5.770 (359) 4.764 (6.738) (4.492) 6.738 (10.107) - 1.123 1.123 34.815 3.369 463 Annual Report Enel Américas 2020Merger of EGP Américas’ Assets Transaction description September 22nd, 2020 Américas Enel Américas Investor Relations Enel Américas recent history The Proposed Transaction paves the way for a new growth phase Américas Enel Dx Goiás 1. Price: US$ 720 mn 2. Clients: 2.9 mn 3. Location: State of Goiás Volta Grande acquisition 1. Price: US$ 445 mn 2. Installed capacity: 380 MW 3. Location: State of Minas Gerais 2016 2017 2018 2019 Business reorganization in Latam Américas Purchase of 7.5% stake in Enel Dx Perú from minorities Price: US$ 80 mn Enel Dx Sao Paulo 1. Price: US$ 2.4 bn 2. Clients: 7.2 mn 3. Location: Sao Paulo US$ 3bn Capital Increase: Financial flexibility improvement Merger becomes effective Accelerating the energy transition Q4 2020 Q2 2021 Shareholders' Meeting of Enel Américas to vote on the merger of EGP Américas into Enel Américas Consolidation of distribution business New Growth phase 2 464464464 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationProposed Transaction Merger of EGP assets in Central and South America ex Chile in Enel Américas Américas Current situation Post transaction 100% 65% Other shareholders 35% 100% 100% 100% 100% 100% 100% 51% ARGENTINA BRAZIL COLOMBIA PERU COSTA RICA GUATEMALA PANAMA Américas 100%(1) 100% 49%(2) 100% ARGENTINA BRAZIL COLOMBIA PERU 100% 100% 100% 100% 100% 100% 51% BRAZIL COLOMBIA PERU COSTA RICA GUATEMALA Distribution Generation Hydro Renewables PANAMA Other shareholders >65% <35% Américas ARGENTINA 100%(1) 100% 49%(2) 100% ARGENTINA BRAZIL COLOMBIA PERU 1. 2. 0,08% is owned by Enel Gx Chile 100% Consolidated. No existing subholding 3 Transaction rationale Enel Américas would be fully integrated along the power value chain Américas Accelerate Enel Américas’ positioning within energy transition Consolidate Enel Américas as a leading power utility in Central and South America Diversify the asset portfolio of Enel Américas both by geography and generation technology Américas Access to the know-how and track record of EGP, global leader in renewable development Provide a clear path to organic growth in renewable power generation Preserve the financial flexibility and discipline of the Enel Américas’ Group to further acquisitions 4 465 Annual Report Enel Américas 2020Transaction perimeter EGP Américas manages a portfolio of c. 5.1 GW assets, in operation or in execution… Américas MW in operation Guatemala Installed capacity 164MW Colombia Installed capacity 86MW Peru Installed capacity 312MW PV Solar Wind Hydro Source: ENEL 1H 2020 results 1. Does not include Argentina as the Pampa project (100 MW wind power) has been postponed 2. Includes Fortuna, Hydro plant (300 MW) Costa Rica Installed capacity 81MW Panama Installed capacity(2) 362MW Brazil Installed capacity 1,872MW Total Estimated Capacity: 5.1 GW In Operation: 2.9 GW Projects in Execution(1): 2.2 GW 5 Generation mix post-Transaction …which will reposition Enel Américas within the energy transition MW in operation post –Transaction Peru 8% 6% 34% 2.3 GW 52% Argentina 30% 4.4 GW 70% Central America(1) 10% 0.6 GW 90% Colombia 2% 11% 3.6 GW 86% Brazil 10% 3.2 GW 39% 27% 24% Conventional Gx(2) Hydro Wind PV Solar 1. 2. 3. Includes Panamá, Costa Rica and Guatemala Includes oil & gas, CCGT and coal Includes MW in operation (2.9 GW) and projects in execution (2.2 GW) Pre 11.3 GW 45% Post(3) 31% 16.4 GW 55% 69% 55% emission free c. 70% emission free Accelerate and facilitate the decarbonization path Extract synergies and minimize operational and financial risk More sustainable generation mix and business model going forward 6 466466466 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationGrowth profile going forward Future growth strongly supported by EGP Américas’ asset base and capabilities to build a large pipeline GW of Installed Capacity Enel Américas’ Strategic Plan 2020-22 +0% +45% 2.2 2.9 11.3 11.3 16.4 EAM 2019 EAM 2022 EGP In Operation EGP In Execution EAM Post Transaction 1. As per Enel 1H 2020 results presentation. It includes pipeline in Brazil, Colombia, Peru and Panama Américas c.12-13 (1) EGP Pipeline A large Pipeline will fuel future installed capacity growth 7 Transaction indicative milestones The Transaction will be treated as a Related Party Transaction under Chilean Law Américas Related Party Transaction Process 45 days 21 Sep 1 Board of Directors of Enel Américas the Related Party Transaction and appoints: launches  Independent evaluators  Appraiser for the Merger 2 Independent evaluators and appraisers present their reports:  Corporate interest  Market terms and conditions 4 EGM votes on the merger  Related Party Transaction: 2/3 of the share capital  Bylaws amendment: 75% of the share capital Mid Nov End Dec 3 Board of Directors of Enel Américas summons EGM to approve the merger:  Takes note of the reports from evaluators, independent directors and Committee of appraiser and individual directors opinions  Pro-forma financial statements as of September 30, 2020 for merger  Proposal of final terms and conditions for the Merger is defined 30 days withdrawal right period Shareholders who voted against or did not vote could exercise a withdrawal right at a price calculated as the weighted-average price of the shares of Enel Americas in the 60 trading days preceding the 30 trading days prior to the date of the EGM that voted on the merger The Transaction is targeted for completion in Q2 2021 8 467 Annual Report Enel Américas 2020Merger of EGP Américas’ Assets Disclaimer Américas Important Legal Information This presentation does not constitute an offer to sell securities and is not soliciting an offer to buy any securities in any jurisdiction. This presentation should in no way be deemed to be an offer or an invitation to participate in the proposed merger described in this presentation. Such transaction is subject to certain corporate, shareholder and regulatory approvals and to corporate and securities laws and other regulations applicable in Chile, the United States of America and other relevant jurisdictions. Forward-Looking Statements This presentation contains statements that may constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements appear throughout this presentation and include statements regarding the intent, belief or current expectations of Enel Américas and its management with respect to, among other things: (i) Enel Américas’ business plans, including the proposed merger; (ii) trends affecting Enel Américas’ financial condition or results of operations, including market trends in the electricity sector in Argentina, Brazil, Colombia and Peru; (iii) the impact of competition and regulation in the electricity sector in Argentina, Brazil, Colombia and Peru; (iv) political and economic conditions in the countries in which Enel Américas and its affiliates operate; and (v) other statements included in this presentation regarding matters that are not historical facts. Such forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties. Actual results may differ materially from those provided in the forward-looking statements as a result of various risks and uncertainties, including those described in Enel Américas’ Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements which speak only as of the dates they were made. Neither Enel Américas nor any of its affiliates undertakes any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. For all these forward-looking statements, Enel Américas claims the protection of the safe harbor for forward-looking statements contained in the U.S. Private Securities Litigation Reform Act of 1995. Merger of EGP Américas’ Assets Contact us 9 Américas Contacts Email: ir.enelamericas@enel.com Channels Américas Website www.enelamericas.com Mobile App Enel Américas Investors Download App iOS Android Thank you. Rafael de la Haza Head of Investor Relations Investor Relations team Jorge Velis Javiera Rubio Nicolás Gracia Francisco Basauri Gonzalo Juárez María Luz Muñoz 468468468 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information• On November 6, 2020, the following was reported as a Finally, on Friday, November 13, a presentation will be made Significant Event: regarding the reports referred to in this Significant Event, as well as the other matters related to the Merger Operation, to As approved by the Board of Directors of Enel Américas which all local and foreign investors, shareholders, and the S.A. (“Enel Américas” or the “Company”) and having been market in general will have access. Details about how to view received on November 6, 2020, the following reports the presentation, the conference schedule, and a copy of the related to the merger through which Enel Américas S.A. will presentation will be available to all interested parties in due absorb EGP Américas SpA and, consequently, incorporate course on the company's website: www.enelamericas.com. the generation subsidiaries of unconventional renewable energy that Enel Green Power (Italy) owns in Central and • On November 12, 2020, the following was reported as a South America (except Chile), hereinafter the “Merger Significant Event: Operation.” The subject of the Significant Events issued by the Company on September 21, 2020, and October The Board of Directors of Enel Américas S.A. (“Enel 9 and October 28, 2020, is now made available to the Américas” or the “Company”) unanimously agreed, in an shareholders: extraordinary session held on November 12,2020, to call for an extraordinary shareholders meeting of Enel Américas to (i) Final Report issued by the independent evaluator be held on December 18, 2020, (the “Meeting”) at 10 a.m. in appointed by the Board of Directors of Enel Américas, Santa Rosa 76, Santiago, Chile. Banco Santander, regarding the conditions of the Merger Operation, its effects, and its potential impact on Enel Notwithstanding the above, to permit the shareholders Américas. to participate and vote virtually, the Board of Directors of Enel Américas agreed to implement systems that comply (ii) Final Report issued by the independent evaluator with the General Standard No. 435 and Circular Letter appointed by the Directors Committee of Enel Américas, No. 1,141 issued by your Commission. The calls for the Banchile Asesoría Financiera S.A., regarding the Meeting and Enel Américas’ website (www.enelamericas. conditions of the Merger Operation, its effects, and its com) will provide further information on how to access and potential impact on Enel Américas. participate remotely in the Meeting. (iii) Final Report issued by Mr. Pablo D'Agliano, an The matters to be submitted for the information and independent expert appointed by Enel Américas, in decision of the Meeting, as relevant, shall be as follows: relation to the value of Enel Américas and EGP Américas SpA, the companies to be merged, and the relation of 1. Merger. Pursuant to the terms of Title IX of Law No. 18.046 the share redemption of the aforementioned companies on Limited Liability Corporations and paragraph 3 of Title and the corresponding proforma balance sheet, within IX of the Regulations of Limited Liability Corporations, the framework of the Merger Operation. to approve the operation consisting of the merger by incorporation of EGP Américas SpA ("EGP Américas") into Likewise, we have taken notice of the Final Report issued Enel Américas (the "Merger"), whose aim it will be to allow by Mr. David Jana, an independent expert appointed by EGP Enel Américas to control and consolidate the ownership Américas SpA, related to the value of Enel Américas and of the business and the unconventional renewable EGP Américas SpA, the companies to be merged, and the energy generation assets that Enel Green Power S.p.A. relation of the share redemption of the aforementioned uses and owns in Central and South America (except companies and the corresponding proforma balance sheet. Chile). The Merger, the associated capital increase, the This report has been obtained from the EGP Américas SpA exchange ratio, the information used as the basis of the website: https://www.enelgreenpower.com/es/paises/egp- operation, and the specific terms and conditions of the americas, where it is published. merger are described in the document entitled "Terms and Conditions of the Merger." Copies of the aforementioned documents will be available today at the disposal of the shareholders on the Company's The exchange ratio will be 0.43 Enel Américas’ shares for website, www.enelamericas.com and in the Company´s each EGP Américas’ share, or other amount established offices located at Santa Rosa 76, 15th floor, Santiago, Chile, at the Meeting within the range of 0.41 and 0.45 Enel corresponding to the Investor Relations Management Américas shares for each EGP Américas share; in all department. cases, without considering share fractions. 469 Annual Report Enel Américas 2020 Therefore to complete the Merger, the Company e) Collective Pronouncement of the Board of Directors proposes to issue up to 32,717,113,745 new Enel Américas of Enel Américas; shares, or other amount established at the Meeting based f) Terms and Conditions of the Merger, drawn up on the foregoing, all of which shall be fully subscribed in accordance with Article 155 letter (a) of the and paid from the incorporation of EGP Américas’ assets Regulations of Limited Liability Corporations, and on the date on which the Merger is finalized. The newly g) Individual opinions of Enel Américas directors, all issued shares will be allocated in full to the shareholder(s) of which have been received by Enel Américas on of EGP Américas, in accordance with the exchange ratio the same date and are available at the company’s established at the Meeting, expressly permitting the corporate office and the website indicated above. Board of Directors to issue the new shares resulting from the referred to capital increase. 3. Amendment of Enel Américas’ Bylaws. To approve the following amendments to Enel Américas’ bylaws: (i) The above is without prejudice to the capitalizations eliminate the limitations and restrictions established or adjustments that correspond to the share capital in in the bylaws for the application of Title XII of Decree accordance with the law, including the capitalization of Law No. 3,500 issued in 1980 and, in particular, the the higher value obtained from the placement of issued limitation that indicates that a shareholder cannot shares agreed upon at the extraordinary shareholders concentrate more than 65% of Enel Americas’ voting meeting held on April 30, 2019. capital. Notwithstanding the foregoing, all articles will remain in force regarding the existence and approval The agreements taken at the Meeting in relation to this of the Investment and Financing Policy. Consequently, point shall be subject to the compliance with any and all the Company proposes to remove from the Company’s conditions precedent set out in the document referred bylaws articles First Bis, Fifth Bis, Ninth Bis, Fourteenth to as "Terms and Conditions of the Merger" and shall Bis, Twenty-fourth Bis and Twenty-seventh Bis, and to become effective on the date indicated in that document modify articles Twentieth, Twentieth Bis, Thirty-sixth, for this purpose. Thirty-seventh and Forty-third; (ii) to reflect the merger agreements, replacing for this purpose Transitional 2. Operations with Related Parties. Pursuant to the Articles Fifth and First of the bylaws; and (iii) to consolidate terms of Title XVI of Law No. 18,046 on Limited Liability the text of Enel Américas’ bylaws, incorporating the Corporations, to approve the Merger as a related-party above-mentioned amendments, as well as others that transaction. The above, taking into consideration the may be agreed upon on at the Meeting. The agreements following information to be used as the basis of the taken at the Meeting on this point shall become effective operation and which, before this date or from this date, together with the Merger. has been made available to the shareholders at the company’s corporate office (Santa Rosa 76, Floor 15 4. Other Necessary Agreements and Powers of Enel (Investment Management), Santiago de Chile) and on the Americas’ Board of Directors. To adopt any other website of Enel Américas (www.enelamericas.com): agreements that might be necessary or relevant, amongst others, to legalize and implement the above- a) Financial statements of Enel Américas and EGP mentioned amendments. In addition, to permit the Board Américas as of September 30, 2020, both duly of Directors of Enel Américas to carry out all actions that audited by KPMG, their external auditors; are necessary or relevant in the context of the Merger, b) Expert reports prepared by independent experts the Related-Party Transaction, and Bylaw Amendments appointed, respectively, by Enel Américas and EGP as indicated, including requesting the recording of the Américas specifically for the purpose of the Merger; actions representative of the capital increase in the c) Two reports prepared by independent evaluators Securities Register of the Financial Market Commission appointed, respectively, by the Board and the and, in general, to complete all other actions related to Directors Committee of Enel Américas; the Merger, both in Chile and abroad, with broad powers. d) Collective Pronouncement of the Directors Committee of Enel Américas; 470470470 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information5. Information about other related-party transactions. • On December 01, 2020, the following was reported as a To inform shareholders of agreements related to other Significant Event: operations with Related Parties referred to in Title XVI of Law No. 18,046 on Limited Liability Corporations other In relation to the merger through which Enel Américas than the Merger, completed during the period since the will absorb EGP Américas SpA and incorporate the last Enel Américas’ shareholders meeting indicating the unconventional renewable energy generation subsidiaries Directors who approved them. that Enel Green Power (Italy) owns in Central and South America (except Chile), as of today the Company's • On November 26, 2020, the following was reported as a management has published a presentation on the Significant Event: Company´s website www.enelamericas.com, providing additional information regarding the proposed operation In its session held on November 26, 2020, the Board of and making it available to our shareholders and the market Directors of Enel Américas, agreed to distribute an interim in general. dividend of US$ 0.000959327860769386 per share. Said amount corresponds to 15% of the net income of the • On December 17, 2020, the following was reported as a Company as of September 30, 2020, determined based on Significant Event: the Financial Statements of the Company as of said date. The aforementioned dividend will be paid in Chilean pesos, Securities Market Law No. 18,045, and as established under the legal currency, converted according to the Observed General Norm No. 30 of the Financial Market Commission, Dollar exchange rate published in the Official Gazette on I, duly authorized, hereby inform you in the attached In accordance with articles 9 and 10, paragraph two, under January 22, 2021. Significant Event of a letter sent today by our parent company, Enel SpA, where said Company reports its plan to This dividend will be paid beginning January 29, 2021, to all launch a voluntary public offer for the acquisition of shares shareholders of record at midnight of the fifth business day and American Depositary Shares ("ADS") of Enel Américas prior to the indicated date. for up to a maximum of 10% of its current share capital. The public offer for the acquisition of shares will be launched at The publication of the dividend announcement shall be the price of 140 Chilean pesos per share (or its equivalent in made in the newspaper El Mercurio de Santiago, on January US dollars at the time of payment in the case of the ADSs). 15, 2021. • On November 26, 2020, the following was reported as a shareholders the opportunity to sell their shares at The public offer for the acquisition of shares offers Significant Event: a price higher than 109.79 Chilean pesos per share which, in accordance with the law, Enel Américas must The Board of Directors of Enel Américas S.A. ("Enel offer shareholders who decide to exercise their right of Américas" or the "Company"), in an ordinary session held withdrawal at the time of the merger. on November 26, 2020, unanimously agreed to update the document entitled "Terms and Conditions of the Merger" As indicated by Enel SpA in the accompanying letter, regarding the fulfillment of the conditions precedent to the public offer for the acquisition of shares will not be carry out the merger and preserve the value between launched if the merger by incorporation of EGP Américas the companies to be merged. Accordingly, the Board has S.p.A. into Enel Américas and the amendment of the Enel requested the updated version of said document to be Américas´ bylaws do not become valid before December uploaded to the company's website, www.enelamericas. 31, 2021. com, making it available to shareholders and the market in general. Further details can be found in the above-mentioned letter, which is attached. 471 Annual Report Enel Américas 2020INTERNAL Administrator Delegato e Direttore Generale Viale Regina Margherita 137-00198 Roma T + 39 0683054665 Enel-Cor-17/12/20-0025166 Enel Américas S.A. Santa Rosa 76 Santiago Chile Rome Borja Acha December 17, 2020 For the attention of Francisco de Chairman Dear Mr. Chairman, Regarding the integration process in Enel Américas S.A. ("Enel Américas") of Enel SpA's ("Enel") business in the unconventional renewable energy sector in Central and South America, except Chile, I hereby would like to inform you that Enel has decided to make available a liquidity mechanism to minority shareholders who wish to reduce their stake in Enel Américas as a result of the above-mentioned process on better terms than those offered to dissident shareholders by their right to withdrawal. To this end, and in the event that all the agreements submitted for the approval of the Extraordinary Shareholders' Meeting of Enel Américas on December 18, 2021 are approved and the other conditions precedent which the merger of Enel Américas and EGP Américas SpA is subject to, pursuant to the document entitled "Merger Terms and Conditions", Enel would make a public share acquisition offer, in relation to all Enel Américas´ shares and American Depositary Shares ("ADSs"), for the acquisition of shares that represent up to a maximum of 10% of its current share capital. The public share acquisition offer would be priced at 140 Chilean pesos per share (or its equivalent in US dollars at the time of payment in the case of ADSs). The public share acquisition offer would become effective immediately after the merger is concluded and would be subject to the compliance with all the requirements stemming from Chilean and US regulations and others that might apply. This commitment shall subsequently lose its value and effect if the merger of Enel Américas and EGP Américas SpA and the amendment of Enel Américas´ bylaws is not carried out by December 31, 2021 under the terms approved at said Extraordinary Shareholders' Meeting. Finally, I would kindly request that the content of this letter is duly made public and disseminated in order to become known to all Enel Américas shareholders and other interested parties. Yours truly Francesco Starace Enel SpA – Sede Legale: 00198 Roma, Viale Regina Margherita 137 – Registro Imprese di Roma e Codice Fiscale 00811720580 – R.E.A. 756032 Partita IVA 00934061003 – Capitale sociale Euro 9.403.357.795 i.v. 472472472 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information • On December 18, 2020, the following was reported as a In order to carry out the Merger, the Meeting approved Significant Event: increasing Enel Américas’ capital by US$6,036,419,845, by issuing 31,195,387,525 new common registered shares, At an Extraordinary Shareholders Meeting held today all of the same series and with no par value, which will be (the “Meeting”), the ' 'Company's shareholders approved fully subscribed and paid from the incorporation of the the merger by incorporation of EGP Américas SpA (“EGP assets of EGP Américas, as an absorbed company, once Américas”) into Enel Américas (the “Merger”). As a result, the Merger becomes effective. For this purpose, 0.41 Enel Enel Américas will acquire all the assets and liabilities of Américas shares shall be awarded for each EGP Américas EGP Américas and succeed in all its rights and obligations. share belonging to the sole shareholder of the latter, It will allow the Company to control and consolidate without considering share fractions. the ownership of the business and the unconventional renewable energy generation assets that Enel Green Finally, pursuant to article 69 of Law No. 18.046 on Limited Power S.p.A. uses and owns in Central and South America Liability Corporations, shareholders who do not agree with (except Chile). Furthermore, the Merger was approved as the Merger Agreement shall have the right to withdraw an operation with related parties governed by Title XVI of from Enel Américas, prior payment by the last of the the Law on Limited Liability Corporations. In addition, all value of their shares. The details on how to exercise the proposed statutory changes to make the Merger feasible right of withdrawal, its price and the methods of payment were approved, including the elimination of articles under of the price will be informed in a notification published Title XII of Decree Law 3,500, particularly the article that in El Mercurio, a Santiago newspaper, and on Enel establishes that a shareholder may not concentrate more Américas’ website (www.enelamericas.com). In addition, than 65% of the voting capital in Enel Américas, with the it will be informed to all entitled shareholders by written exception of those related to the Investment and Financing communication delivered to the domicile registered with Policy that, as proposed by the Board of Directors, shall Enel Américas. remain in force. The aforementioned statutory amendments shall become effective together with the Merger. • On December 21, 2020, the following was reported as a Significant Event: The Merger is subject to compliance with certain conditions precedent agreed by the Board, detailed in the In relation to the Merger by incorporation through which Merger Terms and Conditions available on the Company’s Enel Américas shall acquire the ownership and control website: www.enelamericas.com. Once compliance with of the unconventional renewable energy generation the approved conditions precedent has been verified, subsidiaries that its related company, Enel Green Power, Enel Américas and EGP Américas will issue the same and owns in Central and South America (except Chile), unique declarative public deed, announcing compliance hereinafter the Merger, which was approved by Enel with these conditions (the “Public Deed of Compliance Américas’ shareholders at the Extraordinary Shareholders with Merger Conditions”), which must be recorded in Meeting held on December 18, 2020, at 10 a.m., we have addition to the corporate registration of EGP Américas and been informed that the Shareholders Meeting of EGP Enel Américas in the Commerce Register of the Santiago Américas SpA ("EGP Américas"), held on December 18, 2020, Property Registration Administrator. The Merger shall at 2:15 p.m., approved the Merger under the same terms become effective on the first day of the month following the as those approved by the shareholders of Enel Américas date on which the Public Deed of Compliance with Merger S.A. as published on the company’s website, https://www. Conditions is issued, unless the Public Deed of Compliance enelgreenpower.com/es/paises/egp-americas. with Merger Conditions is issued after March 31, 2021, in which case the date on which the Merger becomes effective shall be the day following the date of issuing the Public Deed of Compliance with Merger Conditions. 473 Annual Report Enel Américas 2020 Codensa Colombian distribution company that operates mainly in Bogota and is controlled by us. COES Comité de Operación Económica del Sistema. Peruvian entity responsible for coordinating the efficient operation and dispatch of generation units to meet demand. Costanera Enel Generación Costanera S.A. Argentine generation company, Public Limited Company controlled by us. Formerly known as Endesa Costanera. CREG Energy and Gas Regulatory Commission Colombian Commission responsible for energy and gas regulation. CTM Compañía de Transmisión del Mercosur S.A. Argentine transmission company and subsidiaries of Enel Brasil. DCV Central Securities Deposit of Chile. Dock Sud Central Dock Sud S.A. Argentine generation company and our subsidiary. Edesur Empresa Distribuidora del Sur S.A. Argentine distribution company, with a concession area in the southern area of the metropolitan area of Greater Buenos Aires; our subsidiary. El Chocón Enel Generación El Chocón S.A. Argentine generation company, owner of two hydroelectric plants, El Chocón and Arroyito, both located on the Limay River, Argentina, and our subsidiary. Formerly known as Hidroeléctrica El Chocón S.A. Glossary AFP Pension Fund Manager. A legal entity that manages a Chilean pension fund. ANEEL Brazilian state agency for electricity management. BNDES National Bank for Economic and Social Development is the main development agent in Brazil, focused on sustainable social and environmental development. Cachoeira Dourada Enel Green Power Cachoeira Dourada S.A. A Brazilian generating company owned by Enel Brasil, formerly Centrais Elétricas Cachoeira Dourada S.A. CAMMESA Compañía Administradora del Mercado Mayorista Eléctrico S.A. Argentine autonomous entity irresponsible for the operation of the Wholesale Electricity Market, or MEM. CAMMESA shareholders are generation, distribution and transmission companies, large users, and the Ministry of Energy. CCEE Electricity marketing chamber or clearing house in Brazil. Chilean Stock Exchanges The two main stock exchanges in Chile: the Santiago Stock Exchange and the Chilean Electronic Exchange. Cien Enel CIEN S.A. Brazilian transmission company, wholly owned by Enel Brasil, our subsidiary, formerly Companhia de Interconexcao Energética S.A. CND Centro Nacional de Despacho Colombiano, responsible for coordinating the efficient operation and dispatch of generation units to meet demand. 474474474 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationEmgesa Colombian generation company controlled by us. Enel Generación Perú Peruvian Public Limited Company in the generation sector Enel Italian energy company with multinational operations in the energy and gas markets. As of December 31, 2020, it Enel Generación Piura Peruvian Public Limited Company dedicated to electricity owned 61.5% of Enel Américas ' share capital. Enel is our generation and our subsidiary. Formerly Empresa Eléctrica parent company. de Piura S.A. o EEPSA. and our subsidiary, formerly Edegel S.A.A. Enel Américas Public Limited Company incorporated under the laws of Enel Trading Argentina Energy trading company, with operations in Argentina the Republic of Chile and based in Chile. It has subsidiaries and our subsidiary, formerly Central Comercializadora de mainly dedicated to the generation, transmission, and Energía S.A. or CEMSA. distribution of electricity in Argentina, Brazil, Colombia, and Peru. Controlled by Enel, the entity presenting this report, it was formerly known as Enersis S.A. Enel X Enel's Dvision, which seeks to meet the needs of customers through four lines of business: e-City, e-Home, e-Industries, Enel Brasil Brazilian holding company and our subsidiary, formerly e-Mobility. Endesa Brasil S.A. Enel Distribución Ceará Name of Brazilian distribution company, which operates in the state of Ceará, controlled by Enel Brasil, our subsidiary. Its current trade name is Companhía Energética Do Ceara- Coelce . Enel Distribución Goiás Name of a Brazilian distribution company that operates a concession in the state of Goiás, owned by Enel Brasil, our subsidiary. Its current trade name is Celg Distribucao S.A.- Celg D. Enel Distribución Perú Public Limited Company in the distribution sector in Peru with a concession area in the northern sector of Lima, and our subsidiary, formerly Empresa de Distribución Eléctrica de Lima Norte S.A. or Edelnor. Enel Distribución Rio Ampla Energia e Serviços S.A. Public Limited Company in the Brazilian distribution sector operating in Rio de Janeiro, owned by Enel Brasil, and our subsidiary. Its current trade name is Enel Distribución Rio. ENRE Ente Nacional Regulador de la Electricidad. National regulatory authority for the Argentine energy sector. FONINVEMEM Fund for Necessary Investments to Increase the Supply of Electricity in the Wholesale Electricity Market. It is an Argentine Fund created to increase the electricity supply in the MEM. FMC Comision de Mercado Financiero - Financial Market Commission for the Chilean Financial Market, a government entity that audits public limited companies, banks, securities, and the insurance business. It replaced the Superintendency of Securities and Insurance. Fortaleza Central Generadora Termoelétrica Fortaleza S.A. is a Brazilian generation company operating in the state of Ceará. Enel Brasil, our subsidiary wholly owned by Fortaleza. Currently, its trade name is Enel Generación Fortaleza. LNG Liquid Natural Gas 475 Annual Report Enel Américas 2020MEM Wholesale Electricity Market of Argentina, Colombia, and SEE Secretaría de Energía Eléctrica is the Argentine Ministry Peru. MINEM Ministry of Energy and Mines. NCRE Non-conventional Renewable Energy. Energy sources that are continuously recharged by natural processes, such as wind energy, biomass, mini hydroelectric, geothermal, solar, or tidal. OEF Firm Energy Obligation of Energy and Mining manages the electricity industry through the Ministry of Electricity. SEIN Sistema Eléctrico Interconectado Nacional Peru's national interconnected electrical system. SENACE Servicio Nacional de Certificación Ambiental para las Inversiones Sostenibles is the autonomous Peruvian environmental certification service for sustainable investments that depends on the Peruvian Ministry of refers to firm energy Environment. commitment of Colombian generators to guarantee long-term energy supply. OSM Ordinary Shareholders´ Meeting SIN Sistema Interconectado Nacional. National interconnected electrical system. This type of system also exists in Argentina, Brazil, and Colombia. PLD Difference settlement price in its Spanish acronym. It is the TESA Transportadora de Energía S.A. – a transmission company price allocated to energy sales in the Brazilian spot market. with operations in Argentina and a subsidiary of Enel Brasil. SAIDI English acronym for “System Average Interruption Duration VAD Distribution Aggregate Value - it is established based on Index” is the average outage duration index of the electrical an efficient model company scheme and the concept of a system and indicates the total duration of the outage for typical area. the customer over a predefined period. It is commonly measured in minutes or hours of customer disruption. SAIFI English acronym for “System Average Interruption real-time management services in the electrical, financial XM Expertos de Mercado S.A. E.S.P. A subsidiary of Interconexión Eléctrica S.A. (ISA), a Colombian company that provides Frequency Index” - the index that measures the frequency and transport sectors. of interruptions in electrical installations of electrical systems, in case of component failures, maneuvers and unavailability affecting electrical systems, these can be internal (protection systems, network design, condition of installations) and external (environment and third parties). 476476476 798Statement of ResponsibilityAnnexesOther Regulatory Corporate Information 477 Annual Report Enel Américas 20209 Statement of Responsibility 478478 479 Annual Report Enel Américas 2020480 798Statement of ResponsibilityAnnexesOther Regulatory Corporate InformationStatement of Responsibility The Directors and the General Manger of Enel Américas S.A., signatories of this Statement, are responsible under oath for the veracity of the information provided in this Annual Report, in compliance with General Norm No. 30, issued by the Financial Market Commission. Chairman Borja Acha Besga DNI: 05263174-S Director José Antonio Vargas Lleras CI: 79.312.642 Director Hernán Somerville Senn Rut: 4.132.185-7 Director Patricio Gómez Sabaini Pasaporte: 16941675N Director Enrico Viale DNI: AU 2580379 Director Domingo Cruzat Amunátegui Rut: 6.989.304-K Gerente General Maurizio Bezzeccheri Rut: 26.490.357-2 481 Annual Report Enel Américas 2020

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