March 15, 2021
To Our Clients:
Enclosed for your consideration is the Offer to Purchase, dated March 15, 2021 (the “Offer to Purchase”), as filed with the U.S. Securities and Exchange Commission in connection with the offer by Enel S.p.A., a società per azioni organized and existing under the laws of Italy (“Enel S.p.A.”), to purchase up to 7,608,631,104 of the outstanding shares of common stock, no par value (the “Shares”), of Enel Américas S.A., a sociedad anónima abierta organized and existing under the laws of the Republic of Chile (“Enel Américas”), including Shares represented by American Depositary Shares (“ADSs”), each representing fifty (50) Shares, at a cash price of (i) Ch$140 per Share, in cash, without interest, payable in U.S. dollars, net of applicable withholding taxes and other applicable fees, and (ii) Ch$7,000 per ADS, in cash, without interest, payable in U.S. dollars net of applicable withholding taxes and distribution fees of $0.05 per ADS payable to Citibank, N.A., in its capacity as ADS Tender Agent (the “Distribution Fees”), upon the terms and subject to the conditions set forth in the Offer to Purchase.
We hold ADSs for your account. A tender of such ADSs can be made only by us pursuant to your instructions. Accordingly, we request instruction as to whether you wish us to tender on your behalf any or all ADSs held in your account pursuant to the terms and subject to the conditions of the U.S. Offer. A form of Instruction with respect to the U.S. Offer is enclosed.
Please note the following:
1.
The deadline for validly tendering ADSs through DTC is 5:00 pm, New York City time, on April 13, 2021 (as such time and date may be extended or earlier terminated, the “ADS Expiration Date”), unless the U.S. Offer is extended or earlier terminated. If you wish to tender your ADSs in the U.S. Offer, please instruct us sufficiently in advance of the ADS Expiration Date.
2.
The Company has appointed Citibank, N.A. as ADS Tender Agent and Georgeson LLC as Information Agent.
Any questions you may have with respect to the manner in which ADSs may be tendered in the U.S. Offer should be directed to the Information Agent at +1 (866) 431-2096 (U.S. Toll-Free) or +1 (781) 575-2137 (International) or E-mail: enelamericas@georgeson.com.
3.
In no event will Enel S.p.A. purchase more than 7,608,631,104 Shares (including Shares represented by ADSs), in total, in the Offers (as such term is defined in the Offer to Purchase and hereinafter used as so defined). If more than 7,608,631,104 Shares (including Shares represented by ADSs) are tendered and not properly withdrawn in the Offers, Enel S.p.A. will, upon the terms and subject to the conditions set forth in the Offer to Purchase, purchase 7,608,631,104 Shares (including Shares represented by ADSs) on a pro rata basis according to the number of Shares (including Shares represented by ADSs) properly and timely tendered in the Offers and not properly withdrawn and accepted by Enel S.p.A. after giving effect to proration. On the New York Business Day immediately following the Offer Expiration Date, the Chilean Tender Agent (each as defined in the Offer to Purchase and hereinafter used as so defined) shall notify the ADS Tender Agent of the proration factor (the “Proration Factor”) to be applied to the amount of ADSs tendered and not properly withdrawn by each tendering holder of ADSs as of the ADS Expiration Date and the ADS Tender Agent shall apply the Proration Factor by multiplying the number of ADSs tendered and not properly withdrawn by each tendering holder of ADSs by the Proration Factor (the “Prorated Tender Amount”). To the extent that any tendering holder’s Prorated Tender Amount results in fractional ADSs, the ADS Tender Agent shall round the resulting number down to the nearest whole number of ADSs so that no fractional number of ADSs tendered by such holder of ADSs would be accepted for purchase pursuant to the U.S. Offer (the “Prorated Accepted Amount”). Any number of ADSs tendered by each tendering holder of ADSs in excess of each such holder’s Prorated Accepted Amount shall be returned to each such holder in accordance with the terms of the Offer to Purchase.
4.
If you tender your ADSs in the U.S. Offer, you will receive, for each ADS validly tendered and not properly withdrawn in the U.S. Offer and accepted for purchase by Enel S.p.A., Ch$7,000 per ADS, in