Entel Chile

CAPEX mostly driven by Mobile ExpansionCAPEX Strategy• Keep tech. / quality edge in mobile,managing growth and providing broadbandsolutions.2011 CAPEX BreakdownTotal = US$ 733.5 million(including postpaid handsets around US$ 230 million)• Minimum investments in mature services.• Mobile (including postpaid handsets)accounts 70% of CAPEX.Data / TI17%All Others13%Mobile38%• Bulk of investment driven by demand.Mobile handsets32%Historical CAPEX * - Excluding postpaid handsets(US$ in Millions)CAPEX / Revenues360 33839650219%20%19% 18%19% 19%16%2008 2009 2010 2011*Average Exchange rate of each year.305/10/2012