The Board

 

In the Ordinary General Shareholders’ Meeting held on April 25, 2018, were elected Messrs. Jorge Andueza Fouque, Roberto Angelini Rossi, Manuel Bezanilla Urrutia, Andrés Bianchi Larre, Gabriel Bitrán Dicowsky, Juan Edgardo Goldenberg Peñafiel, Arnaldo Gorziglia Balbi, Andrés Lehuedé Bromley and Francisco León Délano as members of the company Board for the next three-year period. Mr. Gabriel Bitrán Dicowsky was elected independent director.

 

 

Pursuant to what is laid down in Law N°18.046, the Ordinary General Shareholders’ Meeting held on April 26, 2017, agreed on the Board remuneration for this period.

 

The gross remunerations received by each director in the 2017 period amounted to: Mr. Roberto Angelini Rossi US$ 443,383 (US$ 358,163 in 2016); Mr. Jorge Andueza Fouque US$ 295,589 (US$ 203,553 in 2016); Messrs. Manuel Bezanilla Urrutia, Andrés Bianchi Larre, Gabriel Bitrán Dicowsky, Juan Edgardo Goldenberg Peñafiel, Arnaldo Gorziglia Balbi, Carlos Hurtado Ruiz-Tagle and Tomás Müller Sproat US$ 147,794 each (US$ 109,324 in 2016).

 

Furthermore, the following members of the company’s Directors’ Committee received gross remunerations as follows: Messrs. Andrés Bianchi Larre and Juan Edgardo Goldenberg Peñafiel US$ 49,265 (US$ 38,957 in 2016); Mr. Gabriel Bitrán Dicowsky US$ 49,265 (US$ 31,410 in 2016).

 

No incentive plans such as bonuses, stock benefits, stock options or others existed in which the directors participated.

 

The parent company directors listed below received the following gross remuneration for serving as directors on the boards of the following subsidiaries:

 

For their service at Celulosa Arauco y Constitución S.A.: Messrs. Roberto Angelini Rossi and Jorge Andueza Fouque US$ 245,833 each (US$ 178,726 in 2016); Mr. Manuel Bezanilla Urrutia US$ 368,750 (US$ 261,450 in 2016).

 

For their service at Forestal Arauco S.A.: Messrs. Roberto Angelini Rossi and Jorge Andueza Fouque US$ 59,029 each (US$ 55,425 in 2016); Mr. Manuel Bezanilla Urrutia US$ 118,057 (US$ 101,900 in 2016).

 

For their service at Arauco Internacional Ltda.: Messrs. Roberto Angelini Rossi and Jorge Andueza Fouque US$ 24,000 each (US$ 12,000 in 2016); Mr. Manuel Bezanilla Urrutia US$ 66,000 (US$ 33,000 in 2016).

 

For their service at Compañía de Petróleos de Chile Copec S.A.: Mr. Roberto Angelini Rossi: Ch$ 143,578,000 (Ch$ 125,214,000 in 2016); Mr. Jorge Andueza Fouque Ch$ 95,719,000 (Ch$ 69,047,000 in 2016); Mr. Manuel Bezanilla Urrutia Ch$ 47,859,000 (Ch$ 31,431,000 in 2016); Mr. Tomás Müller Sproat Ch$ 47,859,000 (Ch$ 31,431,000 in 2016).

 

For his service at Organización Terpel S.A.: Mr. Jorge Andueza Fouque US$ 11,866 (US$ 14,704 in 2016).

 

For their service at Pesquera Iquique-Guanaye S.A.: Mr. Roberto Angelini Rossi US$ 147,811 (US$ 100,646 in 2016); Messrs. Jorge Andueza Fouque and Manuel Bezanilla Urrutia US$ 49,270 (US$ 38,580 in 2016).

 

For their service at Orizon S.A.: Mr. Roberto Angelini Rossi US$ 49,237 (US$ 38,865 in 2016) and Mr. Jorge Andueza Fouque US$ 147,710 (US$ 104,609 in 2016).

 

For his service at Alxar Minería S.A.: Mr. Roberto Angelini Rossi: US$ 22,280 (US$ 20,858 in 2015).

 

The next Ordinary General Shareholders’ Meeting shall establish the directors’ remuneration for 2018.