1Q 2019 Results Presentation

As of march 2019

All figures converted from CLP to USD on March 31, 2019 exchange rate of 678.53 CLP/USD. Figures in US$ M.

CORPORATE

- Factoring

- Leasing

- CorporateLoans

AUTO LOANS

- Auto loans

- Insurance

INVESTMENTS

- Brokerage

- Investment Banking Services

March 2019

TOTAL ASSETS $ 2,014

NET LOANS OUTSTANDING1 $ 1,666

EQUITY $ 424

NET PROFIT $ 9.4

ROAE2 10.8%

ROAA3 2.2%

EQUITY TO ASSETS 21.1%

A Glimpse of Tanner

FINANCIAL INDICATORS

NPLs4> 90 DAYS 2.5%

Source: Tanner.

1) Net loans defined as gross loan portfolio – provisions.

2) ROAE calculated as Net Profit LTM / Total Average Equity

3) ROAA calculated as Net Profit LTM / Total Average Assets

4) NPLs defined as Non-Performing loans

Established over 25 years ago, Tanner Servicios

Financieros S.A. is currently one of the largest non-bank

credit institutions in Chile and has a leadership position

with small-and medium-sized companies.

Credit rating: “BBB-” international, “AA-” local.

Highly diversified portfolio and funding sources:

▪ Loans allocated across +16 industries.

▪ Top five customers account for less than 10% of

total portfolio.

▪ No single creditor represents more than 6% of total

liabilities.

Broad network of +900 employees and 20 branches

throughout the country.

Organized into 3 main divisions, comprised of:

2

Strategy

OUR MODEL… …ALLOWS US TO

✓ LEAD THE INDUSTRIES IN WHICH WE OPERATE

✓ ACHIEVE A >90% SECURED PORTFOLIO

✓ ESTABLISH A LOW RISK, RESILIENT BUSINESS

MODEL

✓ ACHIEVE HIGH PROFITABILITY AND GROWTH

HIGHLY COMMITTED SHAREHOLDERS

CLIENTS UNDERSERVED BY

COMMERCIAL BANKS

SPEED IS OF THE ESSENCE

• APPROVAL <30 MINUTES• 24/7 AVAILABILITY

OPERATIONAL EXCELLENCE

CONSERVATIVE BALANCE SHEET:✓ LOW LEVERAGE✓ ACTIVE LIQUIDITY MANAGEMENT

(DURATION / FUNDING / CREDIT RATINGS)

3

Highlights

Net profit growth of 18.3% YoY.

NPL > 90 days drops 139 bps to 2.5%.

Local market bond issuances of UF 2 million (~US 80 million)

during 1Q 2019, as a total outstanding of UF 19,4 million (~US 786

million).

COMPANY HIGHLIGHTS NET LOAN PORTFOLIO BREAKDOWN(1)

LOANS BREAKDOWN(2) GROSS MARGIN BREAKDOWN(3)

4Source: Tanner Financial Statements. 2) Liabilities in terms of net principal outstanding.

Net loan portfolio defined as gross loan portfolio – provisions. 3) Gross Margin defined as revenues - costs for each business line.

816 789 877

316 357446

53057

36 34

78

2015 2016 20182017

$ 1,168 $ 1,180

$ 1,380

$ 1,743

1,135

Subsidiaries Auto Loans Corporate

875

463

546

1T2019

101

1T2018

86$ 1,425

$1,666

1,019

+17.0%

# Clientes Colocaciones Netas

SMEs Enterprises Corporations

83%

14%

3%

41%

32%

27%

4452 49

58

2623 28

3211

17

22

20182015 2016 2017

$ 75

$ 86$ 94

$ 112

5

Subsidiaries Auto Loans Corporate

3.9

1T2018 1T2019

$ 22.5

$26.6

11.5

7.1

15.4

5.8

5.4

+18.0%

March 2019 figures

Source: Tanner.

1) Net loan portfolio definded as gross loan portfolio – provisions.

2) NPLs > 90 days definded as non-performing loans > 90 days/ gross loans.

3) ROAA calculated as net profit LTM / total average equity.

4) ROAE calculated as net profit LTM / total average assets. 5

(*) The variation in leasing net loans, is mainly due to the new strategy of the division, which consist in

focusing on non - auto leasing deals.

1Q 2018 1Q 2019 Δ YoY

Net Loan Portfolio(1) $1,425 $1,666 +17.0%

Corporate Division $875 $1,019 +16.5%

i.Factoring $416 $549 +31.9%

ii.Leasing (*) $151 $136 -10.0%

iii.Corporate Loans $314 $339 +8.2%

Auto-Financing Division $463 $546 +17.9%

NPLs > 90 Days(2) 3.9% 2.5% -139 bps

Corporate Division 3.5% 1.6% -191 bps

i.Factoring 3.0% 1.4% -160 bps

ii.Leasing 6.9% 3.4% -349 bps

iii.Corporate Loans 2.5% 1.2% -130 bps

Auto-Financing Division 5.6% 4.7% -94 bps

Income $66 $112 +70.2%

Gross Margin $24 $27 +14.0%

Net Profit $8 $9 +18.3%

ROAA(3) 2.5% 2.2% -26 bps

ROAE(4) 10.1% 10.8% +65 bps

I. Corporate Division

Source: Tanner. 2) Yield defined as annualized revenue / average net loan portoflio.

1) Net loan portfolio defined as gross loan portfolio – provisions. 3) Non Performing Loans >30/90 days defined as non-perfoming loans > 30/90 days / gross loan portfolio.

YIELD(2)

CORPORATE NET LOAN PORTFOLIO BREAKDOWN(1)

NPLs(3)

FUNDAMENTALS

Comprised of 3 businesses:

▪ Factoring: #1 non-bank competitor, >20 years of experience,

operated solely as a factoring company until 2004.

▪ Corporate lending.

▪ Leasing.

One-stop-shop and cross-selling opportunities.

Diversified portfolio, focused on industries with strong

fundamentals.

6

368281 281

363

163167 149

117

284341 448

656

20162015

1,136

2017

789

2018

815878

Factoring CréditoLeasing

308 334

151 136

416549

1Q20191Q2018

875

1,019

+16%

20182015

11,9%

2016

11,0%

2017

11,4% 11,7%

1Q20191Q2018

12,1%

10,7%

2017

5.3%5.7%

2015 2016 2018

4.2%4.2%

4.9%

3.6%

2.4%

1.4%

NPLs > 30 days NPLs > 90 days

1Q2018 1Q2019

5.4%

3.1%3.5%

1.6%

(i) Factoring

Source Tanner. 2) Yield defined as annualized income / average net loans.

1) Net loans defined as gross loans – provisions. 3) NPLs > 90 days defined as non-performing loans > 90 days / gross loan portfolio.

NET LOANS(1) and # CLIENTS YIELD(2)

NPLs > 90 DAYS(3) – FACTORING

7

$ 284

$ 341

$ 448

$ 656

1.880

2.548

3.177 3.281

20182015 2016 2017

Net LoansClients

$ 416

$ 549

2.922 2.915

1Q20191Q2018 2015

12.9%

2016 2017 2018

11.8%

13.5% 13.9%

1Q20191Q2018

13.8%13.0%

FACTORING MARKET SHARE

Non-banking institutions

5

1.9%

4.9%

0.7%1.8%

IncofinEurocapitalScotiabank-BBVA

Santander

1.6% 2.2% 2.6%

7.6%8.8%

15.2%

9.4%10.3% 10.6%

22.5%

(ii) Corporate Loans and Leasing

CORPORATE NET LOAN PORTFOLIO(1) AND # CLIENTS

CORPORATE - NPLs > 90 DAYS(2)

LEASING NET LOAN PORTFOLIO(1) AND # CLIENTS

LEASING - NPLs > 90 DAYS(2)

8Source: Tanner. .

1) Net loans defined as gross loans – provisions. 2) NPLs > 90 days defined as non-perfoming loans / gross loan portfolio.

971837

2015 2016

$ 368

2017

578$ 363

2018

$ 281 $ 281

1,261

Clientes Colocaciones Netas

646

1Q20191Q2018

$ 308578

$ 334

$ 32$ 50 $ 58 $ 59

$ 21$ 21 $ 19 $ 16$ 46$ 52 $ 44

$ 27

$ 65$ 44

$ 28

$ 14

857

560

1,269

1,073

$ 163 $ 167$ 149

$ 117

MaquinariaVendor

Auto Leasing

Clientes

Inmobiliario

$ 76 $ 84

$ 16 $ 14$ 41 $ 24

$ 18$ 14

801

676

$ 136$ 151

201720162015 2018

1.5%

0.6%

1.5%

2.3%

20152014 2016 20182017

8.2%

7.0%

9.1%

8.0%

3.3%

2.5%

1T20191T2018

1.2% 3.4%

6.9%

1T2018 1T2019

NET LOAN PORTFOLIO(1) AND # CLIENTS

NPLs > 90 DAYS(3) – AUTO FINANCING

II. Auto Financing Division

YIELD(2)

9Source: Tanner, ANAC, CAVEM, CMF with information dated December 31, 2018.

1) Net Loan Portoflio defined as gross loans – provisions 2) Yield defined as annualized income / average gross loan portfolio.

3) NPLs defined as non-perfoming loans > 90 days / gross loan portfolio.

2017

48,113

57,293

2015

$ 530

2018

67,577

49,704

2016

$ 316$ 357

$ 446

Clients Net Loans

69,989

59,813 $ 546

1Q2018 1Q2019

$ 463

20172015 2016

24.5%

2018

25.2%24.6% 24.9%

1Q2018 1Q2019

24.9%23.7%

GROSS LOANS BY INSTITUTION 1Q 2019

$2.093

$600

$570

$2844.40

2.40

jun-18

4.85

2.24

2.89

4.39 4.27

5.60

mar-18

2.68 2.593.64

2.58

3.87

sept-18

2.91

2.68

4.53

4.40

dec-18

2.58

4.60

4.66

mar-19

III. Tanner Investments

Source: Tanner. CMF with information dated December 31, 2018.

1)ROAE defined as Net Income / Total Average Equity.

2)ROAA defined as Net Income / Total Average Assets.

INCOME DISTRIBUTIONNET PROFIT

TCB MARKET SHARE

10

AUM

$ 310

$ 391

$ 529

$ 968

$ 704

1T 2019201820172015 2016

SCOTIAAZUL15%

BANCHILE 15%

BANESTADO 15%BCI

12%

SANTANDER 10%

ITAU 6%

BICE 6%

BTG 4%

LARRA 4%

TANNER 3%

OTHERS10%

$ 4.1

2016 2017 2018

$ 3.3

$ 2.2

+50.0%

+24.2%

$ 0.9

1Q 20191Q 2018

$ 0.8

+16.9%

Liability Management

FUNDING BREAKDOWN

GEOGRAPHIC DIVERSIFICATION

BALANCED MATURITY PROFILE

Loans

Others

Commercial Paper

Bonds

CLP USD EUR CHF UF TOTAL

Total Assets $ 1,465 $ 230 $ 0.3 $ 0 $ 319 $ 2,014

Total Liabilities + Equity

$ 870 $ 333 $ 0 $ 252 $ 560 $ 2,014

Currency Net Position

$ 596 -$ 103 $ 0.3 -$ 252 -$ 241 $ 0

Hedge -$ 675 $ 99 $ 0 $ 252 $ 324 $ 0

Net Exposure -$ 79 -$ 4 $ 0.3 $ 0 $ 83 $ 0

LIQUIDITY BALANCE SHEET AND HEDGING

The average duration of the assets, as of December 2018, was 0.87 years.

The financial liabilities registered an average duration of 2.50 years

11

8%

$ 1.064

4%

27%

$ 997

61%

3%

2015

6%

20%

72% 55%

29%

2016

5%8%

26%

$ 1.543

61%

2017

7%

10%

34%

49%

2018

9%

6%

1T2019

$ 1.265

$ 1.425

Others

Commercial Papers

Bank Loans

Bonds

$ 21

$ 178$ 222

$ 78 $ 81

$ 207$ 181

$ 39

$ 96

$ 64

$ 40$ 55 $ 27

$ 101

$ 17

$ 145

2T2019 2S2019

$ 1

2020 2021 2022 >2022

$ 358

$ 262

$ 319

$ 85

$ 257

LIQUIDITY(1) AND INTEREST COVERAGE(2)

ROAA(6)

LEVERAGE(3) AND CAPITALIZATION(4)

Key Financial Metrics

ROAE(5)

Average 2015-2018: 9.8%

Average 2015-2018: 2.3%

Source: Tanner

1)Current Ratio defined as Current Assets / Current Liabilities.

2)Interest Hedge Ratio defined as (Profit Before Tax + Financial Expenses) / Financial Expenses.

3)Leverage defined as Total Liabilities / Total Equity.

4)Capitalization defined as Equity / Total Assets

5)ROAE defined as Net Income / Total Average Equity.

6)ROAA defined as Net Income / Total Average Assets. 12

2017

1.71x

2.57x

20182015 2016

1.45x

1T 2019

1.33x

1.8x

1.46x

1.8x 1.8x 1.8x 1.7x

Current Ratio Interest Coverage Ratio

0.2x0.2x

2015 2018

0.2x0.2x

2016 2017

0.2x

1T 2019

3.0x 3.0x

3.3x

4.0x

3.8x

Leverage Capitalization

20162015 1T 20192017 2018

8.8% 9.2% 9.5%

10.8% 10.8%

201820172015 2016 1T 2019

2,3%2,3%2,1%

2,3% 2,2%

Shareholders

SHAREHOLDER COMPOSITION BOARD MEMBERS

Ricardo Massu

Chairman

40+ years of experience

Martín Díaz Plata

Director

Jorge Sabag

Vice-President

34+ years of experience

Jorge Bunster

Director

Eduardo Massu

Director

Óscar Cerda

Director

Pablo Eguiguren

Director

5%1%

1%

53%

26%

1%

7%

6%

Inversiones Bancarias S.A.

AsesoríasFinancieras Belén

(J.Sabag)

InversionesGables

Others

InversionesSimilan

CIP

EF

(Ca

pita

l G

rou

p)

F.I.P. Tanner Valores

Ma

ssuG

rou

p Capital International Private Equity Fund (CIPEF) is the global private equity arm of Capital Group, an ~US$ 1.8 trillion in

AUM independent fund manager with >80 years of experience.

Focused on emerging markets, has invested >US$ 4.5bn in 82 companies across 25 countries and 35 industries.

Controlled by Mr. Ricardo Massu, founder and Chairman of the Board.

Massu Group has a 100% shareholding interest in Inversiones Bancarias S.A.

Controlled by Mr. Jorge Sabag, current Vice Chairman of the Board.

Massu Group

Asesorías Financieras Belén

MAIN SHAREHOLDER PROFILE

Capital Group

AdministradoraTanner

Inversiones Los Corrales

13

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APPENDIX

14

Balance Sheet (1/2)

Source: Tanner.

Note: All figures converted from CLP to USD at the March 31, 2019 exchange rate of 678.53 CLP/USD. 15

Assets (Th US$) 03-31-2019 12-31-2018 Δ $ Δ %

Current Assets

Cash and cash equivalent 35.206 37.543 (2.337) -28,7%

Other current financial assets 138.271 153.751 (15.480) 43,8%

Other current non-financial assets 2.670 2.602 69 20,2%

Trade receivables and other current accounts receivable, net 1.039.759 1.136.243 (96.484) 13,1%

Current accounts receivable from related parties 626 675 (49) -9,5%

Current tax assets 18.222 18.939 (717) 37,0%

Non-current assets held for sale 12.365 11.744 621 100,4%

Total Current Assets 1.247.119 1.361.496 (114.377) 11,4%

Non-Current Assets

Other non-current financial assets 45.377 55.348 (9.972) 48,4%

Other non-current non-financial assets 8.334 4.159 4.176 -44,1%

Trade receivables and other non-current accounts receivable, net 626.234 606.614 19.620 25,1%

Non-current accounts receivable from related parties 1.004 1.004 - -16,2%

Intangible assets other than goodwill 8.551 8.135 416 38,6%

Goodwill 2.599 2.599 - 0,0%

Property, plant and equipment 16.338 4.700 11.638 -1,2%

Property Investments 13.634 13.730 (96) 1,5%

Deferred tax assets 45.204 46.097 (892) 8,6%

Total Non-Current Assets 767.274 742.385 24.890 23,6%

Total Assets 2.014.393 2.103.881 (89.488) 15,7%

Balance Sheet (2/2)

Source: Tanner.

Note: All figures converted from CLP to USD at the March 31, 2019 exchange rate of 678.53 CLP/USD. 16

Liabilities (Th US$) 03-31-2019 12-31-2018 Δ $ Δ %

Current Liabilities

Other current financial liabilities 691.689 880.721 (189.033) 3,2%

Trade payables and other current accounts payables 156.281 133.978 22.303 31,9%

Other short-term provisions 793 451 342 29,5%

Short-term employee benefits provisions 5.832

Current tax liabilities 5.924 3.398 92 518,5%

Other current non-financial liabilities 1.566 - (1.832) -100,0%

Total Current Liabilities 856.252 1.024.381 (168.129) 8,8%

Non-Current Liabilities

Other non-current financial liabilities 733.580 662.039 71.541 29,5%

Non-current employee benefits provisions 167 167

Total Non-Current Liabilities 733.747 662.206 71.541 29,5%

#¡DIV/0!

Total Liabilities 1.589.999 1.686.587 (96.588) 19,3%

Equity 424.394 417.294 7.100 3,6%#¡DIV/0!

Total Equity and Liabilities 2.014.393 2.103.881 (89.488) 15,7%

Income Statement

Source: Tanner.

Note: All figures converted from CLP to USD at the March 31, 2019 exchange rate of 678.53 CLP/USD. 17

01-01-2019 01-01-2018 Δ $ Δ %

03-31-2019 03-31-2018

Revenue from ordinary activities 112.223 65.945 46.278 70,2%

Sales cost (85.269) (42.310) (42.960) 101,5%-

Gross profit 26.953 23.635 3.318 14,0%

Other revenue, by function 395 89 307 344,9%

Administrative expenses (15.867) (14.780) (1.087) 7,4%

Other profits (losses) - - - 0,0%-

Operating margin 11.482 8.944 2.538 28,4%

Financial revenue 24 (1) 26 1982,8%

Financial costs (134) (106) (28) 26,3%

Foreign exchange differences 29 (4) 33 894,7%

Income by adjustment units 1 11 (10) -87,4%-

Profit (losses) before taxes 11.403 8.843 2.559 28,9%

Revenue (expense) from profit taxes (2.042) (930) (1.112) 119,6%-

Profit (losses) 9.361 7.914 1.447 18,3%

Profit (losses) attributable to controller's property owners 9.247 7.793 1.454 18,7%

Profit (losses) attributable to non-controller shares 114 121 (7) -5,6%

INCOME STATEMENT Th US$

Contact Information:

Maria Paz Merino

Head of Investor Relations

El Golf 40, 9th floor, Las Condes, Santiago – Chile

Phone number: + 562 2731 8810

E-mail: maria.merino@tanner.cl