MASISA
Your world, your style
MASISA S.A.
Open Joint Stock Company
Registration in the Securities Registry N* 825
Santiago, December 28, 2022
Mrs.
Solange Berstein Jáuregui
President
Financial Market Commission
Present
REF.: SUPPLEMENTARY COMMUNICATION OF ESSENTIAL FACT, IN RESPONSE TO
ORDINARY OFFICE N? 99474 OF THE CMF.
From our consideration:
In accordance with the provisions of article 9* and second paragraph of article 10 of the Law
N*18.045 on the Securities Market and in General Standard N*30 of the
Commission for the Financial Market, duly authorized by the Board of Directors, I come in
communicate to you, as an essential fact with respect to Masisa S.A. (“Masisa” or the
“Company”) and its business, the following:
Yesterday it was reported as an essential fact that Masisa signed with the company
Argentina Proener S.A.U., a subsidiary of the Argentine company Central Puerto S.A., the contract of
purchase and sale of shares by which he sold to Proener the total of the shares of which
owned directly and indirectly Masisa’s Argentine subsidiaries called Forestal
Argentina S.A. and Masisa Forestal S.A., which own the forestry assets it held
Masisa in that country, consisting of approximately 72,000 hectares, of which
approximately 43,000 hectares are planted with eucalyptus and pine, the “Transaction”.
In the letter of reference, the CMF asks to supplement this essential fact, indicating the
Total effect on the profit for the year as a result of the operation indicated. The total effect of
Transaction in profit for the year is composed of:
(i) A net negative effect on Masisa’s equity of around US$
43,000,000 mainly from the exchange effect of the fact that the
book value of Masisa’s subsidiaries is accounted for at the official exchange rate in
Argentina. This amount also affects the Company’s profit for the year.
(ii) Masisa must reverse the asset conversion reserves associated with the
These Argentine subsidiaries charged to profit or loss for the year, amounting to
about US$ 202,000,000, which is mainly due to the cumulative effect
of the devaluation of the Argentine currency since Masisa’s initial investment in
such subsidiaries. It should be noted that this effect is an accounting reclassification that does not
affects the value of the Company’s Assets.
1
MASISA
Your world, your style
In summary, the effect on the result of Masisa’s financial year as a result of the
Transaction is an accounting loss of approximately US$ 245,000,000, which
does not imply an effect on the Company’s cash flow.
Yours faithfully,
Manager Le: Affairs
Corporate
Masisa S.A.
Link to file in CMFChile: https://www.cmfchile.cl/sitio/aplic/serdoc/ver_sgd.php?s567=c0c1df6b9fc8b80aa35b084d15e65745VFdwQmVVMXFSWGxOUkZFMVRtcHJNVTVSUFQwPQ==&secuencia=-1&t=1682376108
