CORPORATE PRESENTATION

CORPORATE PRESENTATION CORPORATE PRESENTATION NOVEMBER 2018 FINANCIAL RESULTS AS OF MARCH 2018 FINANCIAL RESULTS AS OF SEPTEMBER 2018 FINANCIAL ALL FIGURES EXPRESSED RESULTS IN USD, OBSERVED AS EXCHANGE OF RATE MARCH SEP-18: 679,73 2018

DISCLAIMER This material has been prepared by Banco del Estado de Chile (the Bank ) and it does not constitute an offering memorandum in whole or in part. This material is published solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. Likewise, it does not give and should not be treated as giving investment advice. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. Any opinions expressed in this material are subject to change without notice and the Bank and the initial purchasers are under no obligation to update or keep current the information contained herein. In addition, institutions mentioned in this material, their affiliates, agents, directors (or members of their directive board), partners and employees may make purchases and/or sales as principal or may act as market makers in connection with securities issued by the Bank and provide investment banking, financing or other services to the Bank. The Bank, the initial purchasers and their respective affiliates, agents, directors (or members of their directive board), partners and employees accept no liability whatsoever for any loss or damage of any kind arising out of the use of all or any part of this material. This presentation may contain statements that are forward-looking within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in these forward-looking statements, and may adversely affect the estimates and assumptions on which these forward-looking statements are based, many of which are beyond our control. You are cautioned not to place undue reliance on these forward-looking statements. Comparisons of results for current and any prior periods are not intended to express any future trends or indications of future performance and should only be viewed as historical data. Furthermore, you should consult with your own legal, regulatory, tax, business, investment, financial and accounting advisers to the extent that you deem it necessary, and make your own investment, hedging and trading decision (including decisions regarding the suitability of any transaction) based upon your own judgment and advice from such advisers as you deem necessary and not upon any view expressed in this material. 2

AGENDA I. CHILE MACROECONOMIC FUNDAMENTALS II. THE CHILEAN BANKING SYSTEM III. OVERVIEW OF BANCO ESTADO & FINANCIAL HIGHLIGHTS IV. FINAL REMARKS 3

INCREASING ECONOMIC PACE STEADY PERFORMANCE OF EMPLOYMENT LEVELS REAL GDP GROWTH AND DOMESTIC DEMAND (% CHANGE YOY) INFLATION (CPI VAR. END DECEMBER) CPI 2018F 2.80% MPR OCT-18 2.75% Source: Central Bank of Chile Confidence Business Index as of Sep-2018 FISCAL BALANCE (% OF GDP) Source: Central Bank of Chile EMPLOYMENT TREND Source: Ministry of Finance Dipres and Cochilco 4 Source: National Institute of Statistics - BancoEstado

CHILE HAS A STRONG FISCAL POLICY GOVERNMENT GROSS AND NET DEBT (% OF GDP) CHILE S INTERNATIONAL RESERVES AND SOVEREIGN FUNDS Source: Ministry of Finance SOVEREIGN CDS 5Y AND RATING (S&P ) AS OF 31 OF OCTOBER 2018 Source: Central Bank of Chile and Ministry of Finance SOVEREIGN RATING (S&P) AND GENERAL GOVERNMENT GROSS DEBT (% OF GDP)* AS OF 31 OF OCTOBER 2018 IG BB- BB BB+ BBB- BBB BBB+ A- A A+ AA- AA AA+ AAA BB- BB BB+ BBB- BBB BBB+ A- A A+ AA- AA AA+ AAA Source: Bloomberg 5 Source: Bloomberg. *IMF Forecast Dec-18

REPUBLIC OF CHILE - OPEN ECONOMY TO THE WORLD DEVELOPING INTERNATIONAL MARKET TOTAL FDI INFLOWS* (USD MILLIONS) CURRENT ACCOUNT AND TRADE BALANCE (% OF GDP) OPEN ECONOMY 26 FREE TRADE AGREEMENTS WHICH COVER 86% OF GLOBAL GDP AND 63% OF THE WORLD POPULATION AGREEMENTS WITH 32 COUNTRIES TO AVOID DOUBLE TAXATION Source: Direcon - SII GCI INDEX -0.9% 33 GLOBAL COMPETITIVENESS INDEX RANKING (2018) 17 FINANCIAL SYSTEM 1 MACROECONOMIC STABILITY * Composition: Reinvested earnings and Equity Capital Latest Available EXPORTS BY PRODUCTS (FOB) AS OF SEPTEMBER 2018 EXPORTS BY DESTINATION (FOB) AS OF SEPTEMBER 2018 Source: World Economic Forum INDEX OF THE ECONOMICS FREEDOM 20 GLOBAL INDEX OF ECONOMIC FREEDOM (2018) 1 IN LATAM Source: Heritage OCDE OECD MEMBER SINCE 2010 Source: Central Bank of Chile 6

AGENDA I. CHILE MACROECONOMIC FUNDAMENTALS II. THE CHILEAN BANKING SYSTEM III. OVERVIEW OF BANCO ESTADO & FINANCIAL HIGHLIGHTS IV. FINAL REMARKS 7

CHILEAN FINANCIAL SYSTEM OVERVIEW ASSETS IN THE CHILEAN FINANCIAL SYSTEM (USD BILLIONS) AS OF SEPTEMBER 2018 BANKING SYSTEM NET LOANS AND DEPOSITS (USD BILLIONS) Source: Superintendence of Banks; Superintendence of Pension; Mutual Funds of Chile & CMF BANKING SYSTEM ROE AND ROA (%) BANKING SYSTEM BIS RATIO Source: Superintendence of Banks 8

PLAYING A RELEVANT ROLE IN THE FINANCIAL SYSTEM TOTAL LOAN MARKET SHARE COMPARISONS REAL LOANS GROWTH Source: Superintendence of Banks TIME & SAVINGS DEPOSITS MARKET SHARE AS OF SEPTEMBER 2018 MORTGAGE LOANS MARKET SHARE AS OF SEPTEMBER 2018 Source: Superintendence of Banks *Excludes Corpbanca Colombia and City National Bank Miami (BCI) 9

AGENDA I. CHILE MACROECONOMIC FUNDAMENTALS II. THE CHILEAN BANKING SYSTEM III. OVERVIEW OF BANCO ESTADO & FINANCIAL HIGHLIGHTS IV. FINAL REMARKS 10

INVESTOR HIGHLIGHTS OPTIMAL LIQUIDITY LEVELS COUPLED WITH A WELL-DIVERSIFIED LOAN PORTFOLIO LARGEST COMMERCIAL BANK IN NUMBER OF TRANSACTIONS, ASSETS AND 3 RD IN TERM OF LOANS UNIVERSAL BANK AND THE MOST RELEVANT ACTOR IN FINANCIAL INCLUSION IN CHILE CHILEAN MARKET LEADER IN DEPOSITS, SAVINGS, MORTGAGES AND MICRO-LENDING 100% GOVERNMENT-OWNED ENTITY SUPPORTED BY THE REPUBLIC OF CHILE SINCE INCEPTION, PLAYING A STRATEGIC ROLE IN CHILE AND ONE OF THE OLDEST BANKS OF THIS COUNTRY HIGHEST RATED BANK IN LATIN AMERICA AND NAMED AS THE SAFEST BANK IN LATAM BY GLOBAL FINANCE IN THE LAST SEVEN YEARS 11

BANCOESTADO AT A GLANCE INTERNATIONAL RATINGS AT PAR WITH THE REPUBLIC OF CHILE STRATEGIC MAP LONG-TERM SHORT-TERM A+ A-1 OUTLOOK STABLE FINANCIAL INCLUSIÓN 2.0 PROMOTE NATIONAL SAVINGS A1 P-1 STABLE ENHANCE ECONOMIC DEVELOPMENT FOR SMEs A F1 STABLE SAFETY AND RELIABLE BANK MOTIVATED AND DINAMIC HUMAN TEAM HIGHLIGHTS: THIRD QUARTER 2018 TOTAL ASSETS USD $54.8 bn DEPOSITS USD $35.4 bn BIS RATIO 11.1% NPLs 3.5% +14%(YoY) 2nd position* +7%(YoY) 1st position STABLE STABLE *Excludes Corpbanca Colombia and City National Bank Miami (BCI) NET INCOME* USD $398 mm ROE* 21.4% LIQUID ASSETS 30.0% NPLs COVERAGE* 142.5% +34%(YoY) 4th position 5th position STABLE STABLE *Before taxes *Before taxes *Includes additional provisions 12

SOCIAL FOOTPRINT - A BIG STEP IN FINANCIAL INCLUSION Arica ACTIVE CUENTAS RUTS DEBIT CARDS (THOUSAND AND % USAGE) CAJAVECINA POINT OF SALE UNITS (TOTAL UNITS PER YEAR) MICROFINANCE Iquique Antofagasta Copiapó Coquimbo La Serena Valparaíso Santiago Rancagua Talca Source: BancoEstado Source: BancoEstado Source: BancoEstado Concepción Valdivia Temuco INSURANCE MILLIONS OF CLIENTS BRANCHES & SERVIESTADO ATM Castro Puerto Montt Coihaique SAVINGS MILLIONS OF CLIENTS E-BANKING MILLIONS OF CLIENTS MOBILE NUMBER OF TRANSACCTIONS (IN MILLIONS) Punta Arenas Source: Superintendence of Banks, BancoEstado and Bloomberg 13

LONG HISTORY AS A CORNERSTONE OF CHILE S FINANCIAL SECTOR AND ENGINE OF ECONOMIC DEVELOPMENT ASSETS IN USD BILLION (DEC-17): 55,7 LAUNCH OF COMPRAAQUI NETWORK FIRST CHILEAN BANK TO ISSUE A SRI BOND STRENGTHNING OF BANCARIZATION THROUGH CAJAVECINA BNP PARIBAS ACQUIRES 49,9% STAKE IN BE S MUTUAL FUNDS ARM LAUNCH OF CUENTA RUT AND CAJA VECINA OPENING OF NEW YORK BRANCHE METLIFE INC. ACQUIRES 49,9% STAKE IN BE S INSURANCE BROKERAGE COMBINATION OF BE AND REDBANC ATM NETWORKS Sources: BancoEstado. CAPITALIZATION USD 500 MM CAPITALIZATION USD 250 MM CAPITALIZATION USD 200 MM Safest Bank in Latam 2011 a 2018 10# Safest Emerging Markets Banks 2015 15# Great Place to Work Chile 2016 Most Trusted Bank in the Year LATAM 14 2014 First Financial Institution Brand Value Chile 2009 to 2016

STRONG BALANCE SHEET, MANTAINS OPTIMAL LEVEL OF LIQUIDITY BALANCE SHEET STRUCTURE AS OF SEPTEMBER 2018 ASSET DISTRIBUTION AS OF SEPTEMBER 2018 ASSETS AS OF SEPTEMBER 2018 COMPOSITION OF LIQUID ASSETS AS OF SEPTEMBER 2018 15

LOAN PORTFOLIO AND INCOME OVERVIEW LOAN PORTFOLIO BY TYPE AS OF SEPTEMBER 2018 COMMERCIAL LOAN PORTFOLIO BY ECONOMIC ACTIVITY AS OF SEPTEMBER 2018 Source: Superintendence of Banks and BancoEstado Source: BancoEstado INTEREST INCOME BY SEGMENT AS OF SEPTEMBER 2018 FEES BREAKDOWN AS OF SEPTEMBER 2018 Source: Superintendence of Banks Source: Superintendence of Banks 16

FUNDING AND CAPITAL STRUCTURE FUNDING STRUCTURE AS OF SEPTEMBER 2018 Source: Superintendence of Banks and BancoEstado BIS RATIO AND TIER I (%) BANCOESTADO EFFECTIVE EQUITY (USD MILLIONS) Source: Superintendence of Banks *Minimum Regulatory Requirement Ratio is 8%. Source: Superintendence of Banks and BancoEstado 17

MORTGAGE PORTFOLIO HIGHLIGHTS HIGHLIGHTS BANCOESTADO IS THE LARGEST MORTGAGE LENDER IN CHILE BY NUMBER OF TRANSACTIONS (51% AS OF SEP-18) THE GOVERNMENT ASSURES UP TO 100% OF NON-PERFORMING MORTGAGE LESS RECOVERY VALUE. THE MAJORITY OF THE TOTAL MORTGAGE PORTFOLIO IS: RESIDENTIAL LOANS. DENOMINATED IN UF (INFLATION-LINKED). THE BANK FINANCES THE 80% OF THE LOAN AND THE CLIENT FINANCES THE REMAINING 20%. FIXED RATE. MAX 30-YEARS OF MATURITY THE AVERAGE STOCK FOR MORTGAGE LOANS IS ABOUT US$68,000 WITH A MATURITY OF 22 YEARS.. MORTGAGE LOANS, STOCK BY AMOUNT AND VOLUME & MARKET SHARE 23.4% OF MORTGAGE PORTFOLIO BENEFITS FROM GOVERMENT GUARANTEE Source: BancoEstado and Superintendence of Banks. 18

LOAN PORTFOLIO OVERVIEW NON-PERFORMING LOANS / TOTAL LOANS (%) NON-PERFORMING LOANS / TOTAL COMMERCIAL LOANS (%) NON-PERFORMING / TOTAL CONSUMER LOANS (%) NON-PERFORMING LOANS / TOTAL MORTGAGES LOANS (%) 19

LOAN PORTFOLIO OVERVIEW (CONT D) ALLOWANCES FOR LOAN LOSSES / TOTAL LOANS (%) ADDITIONAL PROVISIONS / TOTAL LOANS (USD MILLIONS) AS OF SEPTEMBER 2018 425 122 67 26 328 820 319 467 COVERAGE NPLS (%) NET PROVISIONS FOR LOAN LOSSES **Includes additional Provisions 20 Source: BancoEstado

CONSISTENT POSITIVE FINANCIAL PERFORMANCE TOTAL ASSETS (USD MILLIONS) NET INTEREST MARGIN Source: BancoEstado. TOTAL OPERATING INCOME (USD MILLIONS) INCOME BEFORE TAXES (USD MILLIONS) Source: BancoEstado. 21

STRONG FINANCIAL RATIOS EFFICIENCY RATIO (OPERATING EXPENSES / OPERATING INCOME) RETURN ON EQUITY (BEFORE TAXES) Source: BancoEstado RETURN ON AVERAGE ASSETS (BEFORE TAXES) LOANS TO DEPOSITS RATIO 22

KEY OPERATIONAL COMMITTEES CORPORATE GOVERNANCE CORPORATE STRUCTURE BOARD OF DIRECTORS BANCO ESTADO IS A STATE-OWNED FINANCIAL INSTITUTION, OPERATING AS AN AUTONOMOUS ENTITY GOVERNED BY ORGANIC LAW. NINE SENIOR MANAGEMENT COMMITTEE. WE ARE SUPERVISED BY THE SUPERINTENDENCY OF BANKS AND THE REGULATIONS OF THE CENTRAL BANK. COMPLIANCE COMMITTEE CHAIRMAN MEMBERS (4) AUDIT COMMITTEE CHAIRMAN MEMBERS (4) CHAIRMAN VICE-CHAIRMAN BOARD MEMBERS (4) LABOR DIRECTOR LABOR ALTERNATE DIRECTOR EXECUTIVE COMMITTEE CHAIRMAN VICE-CHAIRMAN CHIEF EXECUTIVE OFFICER GENERAL COUNSEL* *NON VOTING ORGANIC LAW ENTITLES THE PRESIDENT OF CHILE TO APPOINT 6 OF THE 7 MEMBERS OF THE BOARD OF DIRECTORS AND ALL 3 VOTING MEMBERS OF THE EXECUTIVE COMMITTEE (GENERAL COUNSEL IS A NON-VOTING POSITION). NO MEMBER OF THE BOARD OF DIRECTORS OR THE EXECUTIVE COMMITTEE MAY PARTICIPATE OR VOTE IN CREDIT TRANSACTIONS, INVESTMENTS OR ANY OTHER BUSINESS SOMEHOW RELATED IN PARTICIPATION, DEPENDENCE OR INTERFERENCE. BANCOESTADO HAS BEEN RECOGNIZED AS ONE OF THE MOST TRANSPARENT PUBLIC ENTITIES IN CHILE, RECEIVING A TOTAL SCORE OF 100% ACCORDING TO CORPORATE TRANSPARENCY INDEX (CTI) ACCORDING TO ORGANIC LAW, THE POWERS OF THE EXECUTIVE COMMITTEE EXTEND TO ALL MATTERS CONCERNING MANAGEMENT & OPERATION OF THE BANK THE BANK IS PROHIBITED BY THE CHILEAN CONSTITUTION FROM DIRECT LENDING TO THE CHILEAN GOVERNMENT OR ANY STATE-OWNED ENTERPRISES. OUR BOARD OVERSEES THE BANK S POLICIES AND OPERATIONS AND IS IN CHARGE OF ITS OVERSIGHT (DIRECCIÓN SUPERIOR). COMMITTEES FACILITATE SOUND MANAGEMENT ASSET AND LIABILITIES COMMITTE GENERAL COUNSEL STRATEGIC QUALITY AND TRANSPARENCY COMMITTE PROCESS AND TECHNOLOGY COMMITTE COMMERCIAL COMMITTE AUDIT COMMITTE RISK COMMITTE STRATEGY COMMITTE COMPLIANCE COMMITTE SUSTAINABILITY COMMITTE HUMAN RESOURCES COMMITTE ANTI-MONEY LAUNDERING COMMITTE ETHICS COMMITTE CEO SENIOR MANAGER INTERNAL AUDITOR 23 RESEARCH AND PUBLIC POLICY COMMITTE

AGENDA I. CHILE MACROECONOMIC FUNDAMENTALS II. THE CHILEAN BANKING SYSTEM III. OVERVIEW OF BANCO ESTADO & FINANCIAL HIGHLIGHTS IV. FINAL REMARKS 24

KEY INVESTMENT CONSIDERATIONS CHILE IS A SUCCESSFUL AND DYNAMIC OPEN ECONOMY, WITH STRONG ECONOMIC FUNDAMENTALS AND POSITIVE OUTLOOK, HOLDING THE BEST RATING IN LATIN AMERICA (A1/ A+/ A) AND AMPLE ACCESS TO THE GLOBAL CAPITAL MARKETS. BANCOESTADO IS FULLY OWNED BY THE REPUBLIC OF CHILE, REFLECTING STRONG SUPPORT AND SHARING THE SAME INTERNATIONAL CREDIT RATINGS (HIGHEST-RATED BANK IN THE REGION). CHILE S BANKING SYSTEM IS RESILIENT, HIGHLY COMPETITIVE AND RANKED AMONG THE SOUNDEST IN THE WORLD. COMMITTED AND HIGHLY EXPERIENCED MANAGEMENT. PRESENCE IN THE INTERNATIONAL DEBT CAPITAL MARKETS SINCE 1994, AN ESTABLISHED MTN PROGRAM SINCE JANUARY 2012. BANCOESTADO HAS DEMONSTRATED A SUSTAINED A TRACK RECORD OF GROWTH AND SOLID FINANCIAL PERFORMANCE, EVEN DURING THE RECENT GLOBAL CRISIS. BANCOESTADO HAS A WELL DEFINED GROWTH STRATEGY, AND A BROAD MARKET PENETRATION. BANCOESTADO MAINTAINS A HIGH LEVEL OF LIQUIDITY, AS WELL AS A WELL-DIVERSIFIED LOAN PORTFOLIO SUPPORTED BY STABLE AND LOW-COST FUNDING SOURCES. 25

ANNEX 1: BALANCE SHEET ASSETS Sep-18 Sep-18 Jun-18 Sep-17 % US$ ths* Ch$ million Ch$ million Ch$ million Sep.18 / Sep.17 Sep.18 / Jun.18 Cash and deposits in banks 3,819,684 2,596,354 2,792,476 4,193,453-38.1% -7.0% Unsettled transactions 478,431 325,204 329,459 379,365-14.3% -1.3% Trading investments 2,805,140 1,906,738 1,881,193 2,071,990-8.0% 1.4% Investments under repurchase agreements 319,742 217,338 222,559 76,792 183.0% -2.3% Financial derivative contracts 1,128,444 767,037 808,144 572,861 33.9% -5.1% Interbank loans 894,139 607,773 585,846 444,929 36.6% 3.7% Loans and accounts receivable from customers 33,432,841 22,725,305 22,382,471 21,324,444 6.6% 1.5% Available-for-sale investments 8,721,228 5,928,080 6,590,134 5,540,100 7.0% -10.0% Held to maturity investments 38,218 25,978 25,662 30,445-14.7% 1.2% Investments in other companies 23,898 16,244 15,247 13,659 18.9% 6.5% Intangibles 249,801 169,797 164,001 138,586 22.5% 3.5% Property, plant and equipment 554,335 376,798 379,677 358,374 5.1% -0.8% Deferred taxes 1,264,621 859,601 857,864 1,015,263-15.3% 0.2% Other assets 1,020,651 693,767 699,088 542,207 28.0% -0.8% TOTAL ASSETS 54,755,504 37,218,959 37,736,722 36,702,468 1.4% -1.4% LIABILITIES Deposits and other demand liabilities 11,655,816 7,922,808 8,177,407 7,479,290 5.9% -3.1% Unsettled transactions 525,488 357,190 258,013 323,138 10.5% 38.4% Investments under repurchase agreements 814,207 553,441 744,813 659,611-16.1% -25.7% Time deposits and other time liabilities 24,382,234 16,573,336 16,369,517 17,019,678-2.6% 1.2% Financial derivative contracts 1,155,362 785,334 860,585 547,449 43.5% -8.7% Interbank borrowings 1,710,319 1,162,555 1,435,882 1,261,543-7.8% -19.0% Issued debt instruments 10,332,692 7,023,441 7,108,196 6,443,906 9.0% -1.2% Other financial liabilities 20,270 13,778 14,376 13,527 1.9% -4.2% Current taxes 42,836 29,117 10,898 144,413-79.8% 167.2% Deferred taxes 59 40 88 187,208-100.0% -54.5% Provisions 1,080,244 734,274 697,789 698,182 5.2% 5.2% Other liabilities 554,929 377,202 388,357 284,547 32.6% -2.9% TOTAL LIABILITIES 52,274,456 35,532,516 36,065,921 35,062,492 1.3% -1.5% Capital 845,383 574,632 574,632 574,632 0.0% 0.0% Reserves 1,582,086 1,075,391 1,075,464 1,018,034 5.6% 0.0% Valuation accounts -55,100-37,453-29,074-9,418 297.7% 28.8% Retained earnings From previous periods 0 0 0 0 - - Net income for the period 181,744 123,537 76,602 86,094 43.5% 61.3% Provision for distribution of income to the benefit of the state -90,873-61,769-38,301-43,047 43.5% 61.3% Total owners' equity 2,463,240 1,674,338 1,659,323 1,626,295 3.0% 0.9% Non-controlling interests 17,809 12,105 11,478 13,681-11.5% 5.5% TOTAL EQUITY 2,481,048 1,686,443 1,670,801 1,639,976 2.8% 0.9% TOTAL LIABILITIES AND EQUITY 54,755,504 37,218,959 37,736,722 36,702,468 1.4% -1.4% * Balance sheet items are translated at the average observed exchange rate in Sep.2018 (Ch$ 679.73) 26

ANNEX 2: QUARTERLY INCOME STATEMENTS 3Q18 3Q18 2Q18 3Q17 % US$ ths* Ch$ million Ch$ million Ch$ million 3Q18 / 3Q17 3Q18 / 2Q18 Interest income 711,886 483,890 479,856 366,311 32.1% 0.8% Interest expense -344,938-234,465-237,142-149,312 57.0% -1.1% Net interest income 366,947 249,425 242,714 216,999 14.9% 2.8% Fees and commission income 171,743 116,739 114,987 100,727 15.9% 1.5% Fees and commission expense -62,562-42,525-42,249-35,610 19.4% 0.7% Net fee and commission income 109,182 74,214 72,738 65,117 14.0% 2.0% Net gain (loss) from financial operations 84,606 57,509 12,268 27,581 108.5% 368.8% Foreign exchange gain (loss) net -27,170-18,468 25,398-3,045 506.5% - Other operating revenue 15,636 10,628 1,738 2,378 346.9% 511.5% Total operating income 549,200 373,308 354,856 309,030 20.8% 5.2% Provision for loan losses -62,057-42,182-79,031-46,855-10.0% -46.6% NET OPERATING PROFIT 487,143 331,126 275,825 262,175 26.3% 20.0% Personnel salaries and expenses -167,973-114,176-104,146-103,097 10.7% 9.6% Administrative expenses -108,965-74,067-63,173-70,899 4.5% 17.2% Depreciation and amortization -30,839-20,962-19,843-21,029-0.3% 5.6% Impairment 0 0 0 0 - - Other operating expenses -18,338-12,465-10,256-7,412 68.2% 21.5% TOTAL OPERATING EXPENSES -326,115-221,670-197,418-202,437 9.5% 12.3% Net operating income 161,029 109,456 78,407 59,738 83.2% 39.6% Income (loss) from investments in other companies 1,707 1,160 927 653 77.6% 25.1% Income before income taxes 162,735 110,616 79,334 60,391 83.2% 39.4% Income taxes -88,718-60,304-44,139-40,983 47.1% 36.6% NET INCOME FOR THE PERIOD 74,018 50,312 35,195 19,408 159.2% 43.0% Net income attributable to equity holders of the bank 69,049 46,935 31,930 16,394 186.3% 47.0% Net income attributable to non-controlling interest 4,968 3,377 3,265 3,014 12.0% 3.4% * Income statements are translated at the average observed exchange rate in Sep.2018 (Ch$ 679.73) 27

SOURCES BANCO ESTADO. WWW.BANCOESTADO.CL SUPERINTENDENCY OF BANKS / SUPERINTENDENCIA DE BANCOS E INSTITUCIONES FINANCIERAS. WWW.SBIF.CL CHILEAN CENTRAL BANK / BANCO CENTRAL. WWW.BCENTRAL.CL BUDGET DIRECTORATE / DIRECCIÓN DE PRESUPUESTOS MINISTERIO DE HACIENDA. WWW.DIPRES.CL NATIONAL INSTITUTE OF STATISTICS / INSTITUTO NACIONAL DE ESTADÍSTICAS. WWW.INE.CL FOREIGN INVESTMENT PROMOTIONAL AGENCY/ AGENCIA DE PROMOCIÓN DE INVERSIÓN EXTRANJERA WWW.INVESTCHILE.GOB.CL 28

CORPORATE PRESENTATION FINANCIAL RESULTS AS OF MARCH 2018 FINANCIAL RESULTS AS OF MARCH 2018