Santander Conference

Santander Conference January, 2013 Privado y Confidencial 1

Disclaimer This presentation may include market outlooks and forward-looking statements, which are based on the beliefs and assumptions of ILC s management and on information currently available to the Company. They involve risks, uncertainties and assumptions because they relate to future events and therefore depend on circumstances that may or may not occur in the future. Investors should understand that general economic conditions, industry conditions and other operating factors could also affect the future results of ILC and could cause results to differ materially from those expressed in such forward-looking statements. This presentation contains certain performance measures that have been adjusted with respect to IFRS definitions. Privado y Confidencial ILC Page 2 2

ILC s history: Key milestones Estrictamente Privado y Confidencial CChC creates ILC 1980 1981 1984 1985 SVLC (life insurance) RSA increases stake in SVLC to 51% 1989 1996 1997 Association with Citigroup and RSA to control AFP Habitat and SVLC, respectively 1999 2000 Acquisition of RSA stake in SVLC and subsequent sale to Bicecorp 2001 2003 2004 Acquisition of Citigroup s stake in AFP Habitat and subsequent sale of 14% in the stock exchange Second D&S insurance auction 2008 2009 First D&S insurance auction 2010 2011 Corporate bond issuance 2012 Vida Cámara expands its product offerings to supplemental health and voluntary life insurance ILC placed the largest IPO in Chile (US$ 468 million) Habitat was awarded in the first auction in Peru Source: ILC Privado y Confidencial ILC Page 3 3

IPO Estrictamente Privado y Confidencial New ownership structure (Sep-12) Internationals 11.1% Stockbrokers 11.2% Mutual Funds & Other institutional 10.7% CChC 67.0% Number of shares: 100,000,000.- On July 20 th we placed our IPO, the largest in the Chilean history The IPO totalized US$ 468 million Price per share at IPO: $7,061 (US$ 14.5) US$ (million) 14 12 10 8 6 4 2 0 Daily average trading: US$ 4.02 million (Since July 23 rd ) US$ 2.98 million (Since Ago 1 st ) jul-12 ago-12 sep-12 oct-12 nov-12 dic-12 Evolution of the stock price 40,0% 35,0% 32.1% 30,0% 25,0% 20,0% 15,0% 10,0% 5,0% 0,0% -5,0% -10,0% 19-07-2012 26-07-2012 02-08-2012 09-08-2012 16-08-2012 23-08-2012 30-08-2012 06-09-2012 13-09-2012 20-09-2012 27-09-2012 04-10-2012 11-10-2012 18-10-2012 25-10-2012 01-11-2012 08-11-2012 15-11-2012 22-11-2012 29-11-2012 06-12-2012 13-12-2012 20-12-2012 27-12-2012-2.1% 34.2% performance difference as of December 28th, 2012 IPSA ILC Privado y Confidencial ILC Page 4 4

IPO demand TOTAL DEMAND US$ 2,236 million 100% COMPETITIVE DEMAND US$ 1,144 million 100% RETAIL US$ 755 million 34% INTERNATIONAL US$ 401 million 35% INTERNATIONAL US$ 487 million 22% RETAIL US$ 315 million 28% NIMS US$ 364 million 16% LOCAL INSTITUTIONAL US$ 207million 18% LOCAL INSTITUTIONAL US$ 362 million 16% NIMS US$ 192 million 17% ILC RELATED US$ 268 million 12% ILC RELATED US$ 29 million 3% Privado y Confidencial ILC Page 5 5

Company overview We are a leading provider of retirement, insurance and private healthcare services in Chile through a group of best-in-class businesses For September 30 th, 2012 Revenues Net Income Ownership Retirement Sector Pension funds administration (AFP) US$193 mm US$ 116 mm 67.5% Healthcare and Life Insurance Sector Health insurance institution (ISAPRE) Hospital healthcare services Outpatient healthcare services Supplemental health and voluntary life insurance US$ 432 mm US$ 18 mm 99.9% US$ 254 mm US$ 5 mm 89.9% US$ 198 mm US$ 46 mm 99.9% Other Businesses and Real Estate Network of nine private schools and one subsidized private school IT and outsourcing services US$ 25 mm US$ 1.4 mm 99.9% 32.9% Note: Amounts stated in U.S. dollars have been translated at the exchange rate of CLP 470.48 per USD, which was the official rate certified by the Central Bank for September 28th, 2012 Privado y Confidencial ILC Page 6 6

Attractive demographics and solid macroeconomic fundamentals Resilient population and income growth Strong real GDP growth Population (2011-2015E CAGR) Real Disposable Income (2011-2015E CAGR) CAGR 2000-2010 CAGR 2011-2015E Chile 1,1% 5,6% 5,9% 5,7% U.S. Wester n Europe 0,3% 1,0% 2,1% 1,3% 4,5% 4,1% 4,0% 3,6% 4,1% 4,5% 2,7% 2,4% Japan (0,1%) 0,3% 1,6% 1,2% Source: U.S. Census Bureau, IMF, Euromonitor; Western Europe excludes Cyprus, Luxemburg and Malta ILC s industries have benefited from Chile s sustained economic growth Salary base and GDP growth (%, real terms) Chile Brazil Peru Colombia U.S. E.U. Chile has the highest GDP per capita among its peers in Latin America 20,0% 15,0% Salary base (real) GDP (real) GDP per capita 2011 (USD thousands) 14.0 12.9 5.6 7.0 48.1 31.5 10,0% 5,0% 0,0% AVG: 6% AVG: 5% Gross debt / GDP 2011 11% 65% 22% 36% 100% 82% (5,0)% 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Credit Rating (S&P) AA- BBB BBB BBB- AA+ Source: SAFP and Central Bank; Note: Salary base = number of AFP contributors x average salary. Growth calculated based on the average salary base for the year Source: IMF and S&P Privado y Confidencial ILC Page 7 7

Revenues come from Estrictamente Privado y Confidencial $ 10% Pension Fund Health insurance Healthcare 1.27% Commission fee Voluntary savings Mandatory 7% Additional health contribution Taxes: Range 0% - 40% Voluntary Gross Salary Supplemental health insurance Net Salary Gross Salary Habitat average: Ch$ 572.278 (US$ 1,196) Chile average: Ch$ 547.585 (US$ 1,144) Source: Superintendencia AFP, as of Aug-12; exchange rate $478.5 Privado y Confidencial ILC Page 8 8

Business Overview 2 Privado y Confidencial 9

Habitat Income Statement (US$ Th.) Revenues Cost of sales Sep 12 192,916 - Sep 11 181,669 - Var. % 6.2% - Gross Profit 192,916 181,669 6.2% SG&A (68,491) (64,722) 5.8% Operating Income 124,432 117,241 6.1% Gain (loss) of the encaje 16,915 (13,061) 229.5% EBITDAE* 140,850 129,612 8.7% Net Income 115,992 89,793 29.2% Revenues increased 6.2% due to higher number of contributors and salaries increased of Habitat contributors SG&A increased 5.8% The encaje result increased 229.5% compared to the same period of the last year * EBITDAE calculated as profit before tax minus depreciation, finance cost, other non operational cost and financial income due to Habitat s encaje Sep - 11 Sep - 12 Market Share N account holders N contributors 2.172.402 1.227.041 2,154,399 1,237,602 Contributors / Account holders 56.5% 57.4% Assets under management (MM Ch$) 17,299,586 19,318,525 23.4% 24.4% 25.8% Privado y Confidencial ILC Page 10 10

Habitat: Key considerations Ample growth opportunities Salary base increase Voluntary savings products Modelo 0.5% Cuprum 20.7% Planvital 2.8% Habitat 25.8% Incorporation of independent workers to the system Capture of transfers from competitors Contributors market share (as of September 2012) Contribution rate 1 51.1% 57.4% 55.2% 75.6% 51.7% 45.8% 2.000.000 1.800.000 1.600.000 1.400.000 1.200.000 1.000.000 800.000 600.000 400.000 200.000 0 1.752.746 1.237.602 1.039.017 473.885 379.715 180.478 PROVIDA HABITAT CAPITAL CUPRUM MODELO PLANVITAL Provida 28.5% Total AUM = US$159 bn Source: Superintendencia de Pensiones, as of September 30, 2012 Products offered Capital 21.7% Mandatory individual capitalization account Contributions = 10% of gross salary (capped at ~US$3,000 per month) Voluntary pension contributions Tax exempt, up to a certain amount Voluntary savings account Allows withdrawals at any time Programmed withdrawals Pension payment option in which retirees maintain their account with the AFP Source: Superintedencia de Pensiones 1 Contributors / affiliates Privado y Confidencial ILC Page 11 11

Habitat: Peru Ample growth opportunities December 20 th, 2012, Habitat was awarded in the first auction in Peru All the new entrant into the formal sector contribute into Habitat for two years Prima 31.5% Profuturo 15.0% Horizonte 23.6% Integra 29.9% 700,000 new beneficiaries expected in two years Account holders market share (as of November 2012) Source: SBS as of November 30, 2012 Total AUM = US$37 bn Mandatory mix fee rate after the first auction (%) 1.450.000 1,422,690 Over the contribution Over the AUM 1.400.000 1.350.000 1,355,011 1,319,174 Profuturo 1,49% 1,20% 1.300.000 1.250.000 Horizonte 1,65% 1,40% 1.200.000 1.150.000 1.100.000 1,152,841 Integra Prima 1,55% 1,51% 1,20% 1,90% 1.050.000 Habitat 0,47% 1,25% 1.000.000 Horizonte Integra Prima Profuturo PROMEDIO 1,33% 1,39% Source: SBS as of November 30, 2012 Source: Superintendencia de Banca, Seguros y AFP del Perú Privado y Confidencial ILC Page 12 12

Habitat: Key considerations Estrictamente Privado y Confidencial Operating expenses & % fee income (Sep-12) Net Income (Ch$ mm) Fee Income (U US$ million) 300 250 200 150 100 Based on actual figures Adjusted to Habitat s 1.27% fee rate 90.000 80.000 70.000 60.000 50.000 40.000 30.000 20.000 10.000-15,628 (21,832) 27,089 19,504 CAGR ex-encaje ( 07-11) 29,4% (1,846) (6,145) 7,958 22,635 26,561 48,615 55,974 63,500 48,391 46,614 2007 2008 2009 2010 2011 9M11 9M12 Current mandatory fee (Sep 2012) 50 Modelo 0.77% Habitat 1.27% Capital 1.44% Cuprum 1.48% Provida 1.54% Planvital 2.36% 20% 40% 60% 80% 100% Expenses % Fee Income Fee income (US$ million) & Expenses % (Sep 2012) Habitat Cuprum Provida Modelo Planvital Capital 193 145 260 35.5% 39.2% 40.3% 43.1% 58.5% 64.0% 24 33 172 Privado y Confidencial ILC Page 13 13

Consalud Income Statement (US$ Th.) Revenues Cost of sales Sep 12 432,205 (354,901) Sep 11 383,272 (318,074) Var. % 12.8% 11.6% Gross Profit 77,304 65,198 18.6% SG&A (57,871) (53,326) 8.5% Operating Income 22,083 13,917 58.7% EBITDA* 27,959 19,580 42.8% Net Income 18,261 13,722 33.1% Revenues increased 12.8% due to higher number of contributors and health plans indexed to the CPI Cost increased 11.6% mainly due to higher prices charged in the private hospitals SG&A increase 8.5% due to higher cost of sales force * EBITDA calculated as profit before tax minus depreciation, finance cost and other non operational cost Dec- 11 Mandatory contributions (Ch$ million) Voluntary contributions (Ch$ million) 182,697 62,748 Others (Ch$ million) 3,353 TOTAL (Ch$ million) 248,798 Sep -12 (LTM) 204,226 69,009 4,530 277,766 Privado y Confidencial ILC Page 14 14

Consalud: Key considerations Growing demand prospects Leading private health insurance provider and strong market position Cruz Blanca 20.6% Others 5.5% Consalud 22.3% Strong brand recognition Continuous innovation and incorporation of new technologies Banmédica 21.1% Masvida 14.1% First choice provider for people moving from the public to the private health Total Contributors = 1,550,300 insurance system Source: Superintendencia de Salud, as of September 30, 2012 Others includes Vida Tres, Ferrosalud and close-ended isapres Colmena 16.3% Products offered 18% 19% 14% 25% 25% Isapre: 2.8 mm Fonasa D: 3.0 mm Fonasa C: 2.2 mm Fonasa B: 4.0 mm Fonasa A: 3.9 mm Medical plans Open network plans Preferred provider plans Closed network plans Complementary product offerings Additional coverage for catastrophic diseases Dental plans Pharmacy plans Privado y Confidencial ILC Page 15 15

Consalud: Key considerations Estrictamente Privado y Confidencial Number of Contributors (as of September 2012) Average monthly contribution 1 in US$ (Sep-12) 400.000 350.000 300.000 250.000 200.000 150.000 100.000 345.629 326.601 319.986 253.159 219.354 72.817 280 260 240 220 200 180 160 140 120 138,5 164,0 177,7 186,3 220,4 262,0 50.000 Consalud Banmédica Cruz Blanca Colmena Másvida Vida Tres 100 Consalud Másvida Banmédica Cruz Blanca Colmena Vida Tres Number of Beneficiaries (as of September 2012) Loss ratio 2 (Sep-12) 700.000 600.000 500.000 400.000 300.000 200.000 100.000 659.371 613.778 599.352 470.635 417.637 137.690 86% 85% 84% 83% 82% 81% 81,7% 83,4% 83,9% 84,5% 85,5% 85,7% 0 Consalud Banmédica Cruz Blanca Colmena Másvida Vida Tres 80% Consalud Colmena Cruz Blanca Banmédica Másvida Vida Tres Source: Superintedencia de Salud and ILC 1 Operating revenues divided by the number of contributors; 2 Operating expenses divided by operating revenues Privado y Confidencial ILC Page 16 16

Vida Cámara Income Statement (US$ Th.) Revenues Cost of sales SG&A Sep 12 197,601 (137,563) Gross Profit 60,038 (10,079) Operating Income 49,959 Sep 11 235,109 (175,236) 59,873 (2,936) 56,937 Revenues decreased 16.0% mainly from the termination of the D&S insurance since July 2012 Costs decreased as a result of lower payments on claims under the D&S EBITDA* 57,114 64,726 (11.8%) SG&A increased 228.2% due Net Income 45,865 52,498 Var. % (16.0%) (21.5%) 0.3% 243.2% (12.3%) (12.6%) to higher sales force related to new business lines * EBITDA calculated as profit before tax minus depreciation, finance cost and other non operational cost Jan - 12 Beneficiaries complementary health insurance 1,376 Sep- 12 Beneficiaries complementary health insurance 130,115 Privado y Confidencial ILC Page 17 17

Vida Cámara: Key considerations New projects Until June 2012, Vida Cámara provided disability and survivorship (D&S) insurance 36% market share in terms of premiums (July 2010-June 2012 period) Supplemental health insurance Life and catastrophic insurance Participation in mass tender processes Evolution of the supplemental health insurance beneficiaries during the year 2012 Number of beneficiaries 140.000 120.000 100.000 80.000 60.000 40.000 20.000-130,115 117,394 97,913 71,400 34,311 41,626 15,801 1,376 5,957 January February March April May June July August September An average of 14,000 new beneficiaries per month Privado y Confidencial ILC Page 18 18

Red Salud Income Statement (US$ Th.) Revenues Cost of sales Sep 12 254,067 (199,575) Sep 11 210,664 (165,054) Gross Profit 54,492 45,610 SG&A (41,433) (38,021) Operating Income 13,059 7,590 EBITDA* 4,543 912 Net Income 30,460 20,529 * EBITDA calculated as profit before tax minus depreciation, finance cost and other non operational cost Var. % 20.6% 20.9% 19.5% 9.0% 72.1% 398.0% 48.4% Revenues increased 20.6% due to higher activity in Bicentenario and Avansalud Costs raised 20.9% due to higher operation in Bicentenario and Avansalud SG&A increased 9.0% due to higher expenses in Bicentenario Admissions Emergency room visits Surgeries Patient days Dec 11 37,987 90,555 39,151 89,418 Sep 12 34,910 81,387 36,483 89,166 Privado y Confidencial ILC Page 19 19

Red Salud: Overview Geographic footprint and regional market share by number of beds (2011) Chilean private hospitals by number of beds (2011) Regions Region I: 33% Region II: 18% Region III: 73% Davila Bicentenario Indisa Alemana Santa Maria Las Condes Sanatorio Aleman Region IV: 100% Tabancura 128 208 Region V: 23% Region VI: 36% Region VII: 71% Region VIII: 15% Region IX: 30% Region X: 15% Region XII: 100% 17 private hospitals and 32 outpatient care centers Metropolitan Region: 14% Nationwide Presence Reñaca Antofagasta Alemana Temuco Hospital Fusat U.C. San Carlos Del Profesor U.C. Central Clínico de VM Clínica Integral Las Lilas Avansalud H. Clínico del Sur 106 105 105 104 103 100 98 96 126 120 162 152 230 253 240 302 350 347 493* 553 ILC market share (in terms of private hospital beds): 20% Red Salud hospitals Others Source: ILC, annual reports of the companies as filed with the SVS, except Clinica Alemana, where the information has been derived from its website; *Represents the original number of beds for this project, still not approve by the board. Privado y Confidencial ILC Page 20 20

Red Salud: Key considerations Evolution of revenues Ch$ million Tabancura Avansalud Sep-12 Average occupancy rate 73.8% 53.6% Average length of stay (days) 3.14 1.36 28.000 23.000 18.000 13.000 23,635 27,695 25,656 23,510 23,686 19,035 13,725 11,398 Bicentenario Iquique 60.2% 57.0% 3.00 2.57 8.000 5,846 6,234 5,865 3.000 Tabancura Avansalud Bicentenario Iquique Dec-10 Dec-11 Sep-12 (LTM) Total Private Hospital Beds = 6,101 Others 41% Red Salud 20% Banmédica 18% Las Condes 4% Indisa 5% Cruz Blanca 6% Alemana 6% Source: Clinics of Chile A.G., Cruz Blanca Salud, Banmedica and Red Salud, as of December 31, 2011 Note: Red Salud includes beds of subsidiaries and affiliates Privado y Confidencial ILC Page 21 21

Other business Income Statement US$ Th. Revenues Cost of sales SG&A Sep 12 25,163 (10,062) Gross Profit 15,102 (10,969) Operating Income 4,308 Sep 11 21,638 (8,548) 13,090 (9,824) 3,365 Revenues increased 16.3% due to higher number of students and higher outsourcing services Costs increased 17.7% due to higher salary expenses in both business EBITDA* 5,916 4,778 23.8% SG&A increased 11.7% due Net Income (325) 1,394 * EBITDA calculated as profit before tax minus depreciation, finance cost and other non operational cost Var. % 16.3% 17.7% 15.4% 11.7% 28.0% 528.6% to higher expenses in maintenance and administration Sep - 12 N of private schools N of subsidized schools 9 1 Privado y Confidencial ILC Page 22 22

Financial Summary Privado y Confidencial 23

Consolidated financials Net Income composition (Sep-12) EBITDA composition (Sep-12) Ch$ million Ch$ million 80.000 70.000 60.000 50.000 40.000 30.000 20.000 36,836 8,582 21,557 1,921 (1,971) 66,926 140.000 120.000 100.000 80.000 60.000 40.000 66.267 13.154 26.871 14.331 3.115 123.738 10.000 20.000 - Habitat Consalud Vida Cámara Red Salud Others ILC - Habitat Consalud Vida Cámara Red Salud Others ILC Ch$ million 80.000 70.000 60.000 50.000 40.000 54,908 24.699 21.9% 50.1% 66,926 21.579 Vida Cámara Net Income Ch$ million 140.000 120.000 100.000 80.000 110,792 30.452 11.7% 20.6% 123,738 26.871 Vida Cámara EBITDA 30.000 20.000 10.000 30.209 45.347 60.000 40.000 20.000 80.340 96.867-9M11 9M12-9M11 9M12 Privado y Confidencial ILC Page 24 24

Consolidated financials CAPEX Financial Debt (Sep-12) Ch$ million 22.000 20.000 18.000 16.000 14.000 12.000 10.000 20,551 19,536 15,852 Dec-10 Dec-11 Sep-12 (LTM) SHORT TERM Bonds Sep 12 58.8 3.2 Bank loans 26.5 Leasing in UF 29.2 LONG TERM Bonds Million USD* 399.3 210.2 Bank loans 82.6 Leasing in UF 106.5 Cash & cash equivalent for ILC 127.7 Accumulated Dividends Year 2012 September 2012 Ch$ million Dividend Policy Accumulated Dividend ($/share) Dividend Yield 9M 2012 Net Income 66,926 Encaje ** 9,503 60% 80% 344.5 459.4 4.9% 6.5% Distributable Net Income 57,423 * The exchange rate of $470.483 as of September 30 th ** Includes the financial income from the legal reserve plus net purchases for this legal reserves Privado y Confidencial ILC Page 25 25

Santander Conference January, 2013 Privado y Confidencial 26