Inversiones La Construcción S.A. - Sustainability

Description and Main Functions:

According to our bylaws, ILC is led by a seven-member board elected annually at its General Shareholders' Meeting
Our directors are elected for a one-year period, and may be re-elected. The Chairman is appointed for one year and can be re-elected for a second term
Our directors can also participate as guests at meetings of subsidiary boards, to gain a deeper understanding of the main issues faced by each business within ILC
Its main duties include establishing the Company’s strategy, objectives and policies, which are then implemented by management. These matters are discussed in monthly meetings, to analyze ILC’s performance, risks, strategy and its medium and long-term plans

Patricio Donoso T., Chairman

Civil Engineer and Master of Science in Engineering, Pontificia Universidad Católica de Chile.

President of CChC from 2018-2020 and Past President as of August 2020.

Partner and president of CChC's Rancagua branch and Vice President of CChC’s National Leadership Board for two terms.

He worked in institutions focused on social causes like Fondo Esperanza as CFO, Fundación un Techo para Chile and Fundación Trabajo en Calle.

Currently he is a partner and manager of Acacios, a company with investments in agriculture, construction and real estate.

He joined the Board of ILC in October 2018 and was elected Chairman in April 2021.

Antonio Errázuriz R., Director

Civil Engineer, Pontificia Universidad Católica de Chile.

He was the President of CChC since 2020 until 2022. He has a broad track record at the trade association, including serving as Vice President and sitting on the board and committees and commissions on workplace safety, contractors and other topics.

Likewise, he is the founding partner of Mas & Errazuriz Ingeniería y Construcción, a company engaged in civil works and assembly in the mining, hydroelectric and infrastructure sectors, with operations in Chile, Colombia, Peru and Argentina.

In the private sector, he sat on the boards of Mutual de Seguridad and AFP Habitat.

He joined the Board of ILC in November 2020 and was the Vice Chairman between May 2021 and April 2023.

Juan Armando Vicuña M., Vice-Chairman

Mr. Vicuña has a degree in business administration from Finis Terrae University.

He has served as Chairman of the CChC since November 2022, after over 12 years of outstanding participation in the industry association. He was the National Vice Chairman of the CChC and Chairman of the CChC Valparaíso as well as the Economic, National Coordination, Entity and Member Committees.

Mr. Vicuña serves on the board of Empresas RVC, a family company with a large regional and national real estate presence in the areas of housing, commercial and public works.

He is also a partner at EFE Solar, a photovoltaic solutions company in the field of renewable energy and energy efficiency.

He joined the ILC board in January 2023 and became Vice Chairman in April 2023.

Michele Labbé C., Director

Business Administration and Master of Economics, Pontificia Universidad Católica de Chile.

Over twenty years in the field of economics with consulting firms like Fontaine e Inhen, Fontaine y Paul and Econsult, where she reached the position of Chief Economist. She also served as Head Advisor to the Chilean Ministry of the Economy and director of Sistema Empresas Públicas de Chile (SEP), the organization that groups together state-owned enterprises in the transportation, port and services sectors, from 2018 to 2020.

She is currently on the board of Empresas Gasco S.A., a panelist for Radio Agricultura and a columnist for El Líbero.

She joined the Board of ILC in April 2021.

Iñaki Otegui M., Director

Mr. Otegui holds a degree in industrial engineering from Universidad de Chile and an MBA from Universidad Adolfo Ibáñez.

He has enjoyed a distinguished career in both private industry and trade associations, which began in the procurement and distribution areas at Sodimac. He then joined the CMPC holding, where he started in the commercial area of subsidiary EDIPAC and eventually was promoted to CEO in 1995.

In early 2000, he joined Cementos Bío Bío, where he held several commercial positions, then became CEO of the cement area and finally CEO of the corporate area in 2013. At Bío Bío, he led important milestones like the construction of the first cement plant in Peru and the expansion of the company’s cement and lime operations in Chile. In 2018, he was appointed to the board of AZA S.A. (formerly Gerdau).

In terms of trade association experience, Mr. Otegui has held several positions within the Chilean Chamber of Construction, including National Advisor, Chairman of the Industry Committee and Director. He was also an Advisor for institutions like the Chilean Federation of Industry (SOFOFA) and the Chilean National Mining Society (Sociedad Nacional de Minería).

In 2019, he became a Director of ILC.

Fernando Coloma C., Independent Director

Mr. Coloma holds a degree in business administration from Pontificia Universidad Católica de Chile and a Master of Arts in Economics from the University of Chicago, USA.

He has been a professor at the Institute of Economics at Pontificia Universidad Católica since 1980, where he has taught different courses on microeconomics, competition and markets, labor economy, microeconomic theory, economic regulation, international trade theory, topics in economics and public policies, economic policy, project evaluation, topics in financial regulation, among others.

He has authored numerous academic publications and consultations on domestic and international projects on public policies, job markets, regulation and competition, among other topics.

He was the Superintendent of Securities and Insurances from 2010 to 2014. He also chaired the Council of Securities Regulators of the Americas (COSRA) for two years.

Other positions he has held include director of Chile Transparente, member of the Icare Finance and Business Circle, member of the Capital Markets Consultative Council, member of the group of experts convened by the Finance Ministry to strengthen capital market operations, member of the Presidential Advisory Council on Work and Equality, director of Santiago's Club Hípico, coordinator of the Social Doctrine Program at Pontificia Universidad Católica, and member of the Justice and Peace Commission.

He joined the Board of ILC in 2017 as independent director.

René Cortázar S., Independent Director

Mr. Cortázar holds a degree in business administration from Pontificia Universidad Católica de Chile, and a PhD in Economics from Massachusetts Institute of Technology (MIT), USA.

He has an outstanding track record in both the private and public sectors. In the private sector, he has served on the boards of several of Chile’s largest companies: AES-Gener and Guacolda (power generation), Entel (telecommunications), D&S (supermarkets), París and La Polar (retail), Moneda and Corpbanca (financial institutions), Televisión Nacional de Chile and Canal 13 (media).

In the public sector, he was named Minister of Labor and Social Welfare at the age of 38. He also served as Minister of Transportations and Telecommunications from 2007 to 2010. He is currently a researcher at the Latin American Studies Corporation (CIEPLAN).

He was appointed to the board of ILC in 2014, where he currently serves as Independent Director.

Board Compensation Policy:

Chairman: UF110 per meeting attended and 0.06% of ILC’s annual profit
Vice-Chairman: UF82.5 per meeting attended and 0.045% of ILC’s annual profit
Directors: UF55 per meeting attended and 0.03% of ILC’s annual profit

The remuneration that corresponds to each director for the concept of participation in profits, in no case the profit may exceed three million one hundred thousand UF, depending on the value of said unit as of the date of the Ordinary Shareholders' Meeting 2024.

Board Information for DJSI Index Application:

Independent Directors Criteria* (S&P definition)	Patricio Donoso T.	Juan Armando Vicuña M.	Antonio Errázuriz R.	Fernando Coloma C.	René Cortázar S.	Iñaqui Otegui M.	Michele Labbé C.
Meeting 2 / 3 Criteria
1. The director must not have been employed by the company in an executive capacity within the last five years	OK	OK	OK	OK	OK	OK	OK
2. The director must not accept or have a “Family Member who accepts any payments from the company or any parent or subsidiary of the company in excess of $60,000 during the current fiscal year or any of the past three fiscal years"	OK	OK	OK	OK	OK	OK	OK
3. The director must not be a “Family Member of an individual who is, or during the past three years was employed by the company or by any parent or subsidiary of the company as an executive officer"	OK	OK	OK	OK	OK	OK	OK

Meeting 2 / 6 Criteria
1. The director must not be (and must not be affiliated with a company that is) an adviser or consultant to the company or a member of the company’s senior management	OK	OK	OK	OK	OK	OK	OK
2. The director must not be affiliated with a significant customer or supplier of the company	OK	OK	OK	OK	OK	OK	OK
3. The director must have no personal services contract(s) with the company or a member of the company’s senior management	OK	OK	OK	OK	OK	OK	OK
4. The director must not be affiliated with a not-for-profit entity that receives significant contributions from the company	NO	NO	NO	OK	OK	NO	NO
5. The director must not have been a partner or employee of the company’s outside auditor during the past three years	OK	OK	OK	OK	OK	OK	OK
6. The director must not have any other conflict of interest that the board itself determines to mean they cannot be considered independent	OK	OK	OK	OK	OK	OK	OK

*This declaration of independence only applies for DJSI Index application process, since the Company is governed by the Chilean law rules.

Participation in Companies Boards

Patricio Donoso

Juan Armando Vicuña M.

Antonio Errázuriz R.

Fernando

Coloma

René

Cortázar

Iñaqui

Otegui

Michele Labbé

Participation in less than four Chilean Open Stock Companies Boards