2019 Latin America Year-In-Review

Regional trends, forecasts and differentiated data spglobal.com/marketintelligence/en/client-segments/corporations

S&P Global Market Intelligence Latin America public and private company
coverage by country
Latin America transactions (2005–) Latin America news, research,
documents, events and more (2005–)
Latin America by the numbers
Rest of Latin America: 8,000+ M&A Equity Capital Markets News Key Developments

Peru: 2,000+
Colombia: 3,000+
21,000+ 2,500+ 55K+ 240K+
Brazil
Chile: 4,000+ 29,000+

Debt Capital Markets Rounds of Funding Documents & Filings Events

55,000+ 1,200+ 56,000+ Argentina: 4,000+

Private Companies Public Companies Companies Mexico: 6,000+ (Total 56,000) 700+ 7,200+ 443K+ 104K+
Technology, media and telecom (Kagan) Technologies and design to accelerate your workflow Metals & Mining
Mapping Visual Presentation Tools Feeds/APIs Top countries for exploration
Latin America broadband subscriber Average spectrum depth per band per Budgets for Latin America are concentrated in the big three countries: Chile, Peru and Mexico. Collectively, these three account for
forecast by technology, 2011-2026 country in Latin America, 2018 (Mhz) 66% of the region’s total budget, down from 68% in 2017 due to budget increases in other countries, notably Argentina and Ecuador,
up 51% and 105%, respectively. Peru has displaced Chile as the top country for exploration budgets, with allocations totaling
Millions US$609.7 million, only marginally higher than Mexico at US$609.4 million. Chile, which topped exploration spending in the region
5,000
Other Broadband Households
140 450 from 2015 to 2017, has fallen to third place due to a 5% decrease in budgets to US$576 million.
Broadband Fixed Wireless Households Peru
Broadband Satellite Households 400
Mexico Financial and
120
Broadband Fiber Households
350 Colombia supplemental
Exploration budgets by target, 2019 (USD$ M)
Broadband DSL Households
Average spectrum depth (MHz)

Chile data items

100 Broadband Cable Households 300 Brazil
Argentina 44.4
250 Copper
80 137.6 173.9
200 Gold
60 496.9 215.2 103.2 Zinc-Lead
150
Excel Add-In Mobile Solutions
40 100 15,000 46.3 167.4 U3O8
Other
50 Qualitative
data points Chile Mexico Peru
20
0
700 800 900 1700 1800 1900 2100 2500 2600 2500 2600
0
201120122013201420152016201720182019202020212022202320242025202620272028
FDD TDD Exploration budgets by stage, 2019 (USD$ M)
Spectrum band (MHz)
Data as of March 31, 2018. Sources: Industry data; Kagan estimates Data as of August 31, 2019. Sources: Industry data; Kagan estimates
Kagan, a media research group within the TMT offering of S&P Global Market Intelligence. Kagan, a media research group within the TMT offering of S&P Global Market Intelligence.
83.9

99% 285.1
204.6
241.1 271.0
165.8

TMT global coverage World market 129.3 Grassroots

cap coverage 112.6 Late Stage & Feasibility
163.8
Company Pay TV & Wireless Internet Technology: Advertising: Minesite
data: broadband: & mobile: media & OTT: Advertising
1,600+ Projections for
Supply chain data for Latin America
Chile Mexico Peru

~680K 80+ 40+ 200+ operator/Vendor

relationships, 80+ Total shipments Weight of goods (Kilotonnes) Exploration budgets by company size, 2019 (USD$ M)
TMT Companies country profiles country profiles service/Country
with 10+ year pay TV with 10 year mobile relationships including set-top countries by Junior
and broadband projections; (Catch-up TV, TV boxes, video medium (Internet, Intermediate 34.9
platforms, content TV, Radio, Magazine, 24.9
Film: projections; subscriber subscriber Everywhere and
protection, Newspaper, 103.2
66.6
Major
estimates for estimates for OTT Aggregator) 38.7
Monthly Box Office middleware Outdoor Intermediate

600+ 140+
Film Revenue and and satellite and Cinema) 560.5 241.7 430.7 Junior
Studio Data for 102.2
Mexico* Mexico* Cuba Government
Cuba 12,806,135

15+
operators operators 52,623,263
Belize 183,111
Haiti
Dominican Belize 4 Haiti
71,081
176,312
Republic 1,719 4,959 Dominican Republic Other
1,189,548 40,283
Honduras Honduras
countries 1,046,264 Dominica
28,805
Jamaica Dominica Chile Mexico Peru
Jamaica Guatemala 507
Guatemala 294,091 23,604 13,334
1,857,863 54,353
Panama *
Guyana Panama* Guyana
El Salvador 8,764,366 El Salvador 277,293
859,373 102,887 13,447 3,087 Data as of September 26, 2019. Source: Market Intelligence Platform
Nicaragua Venezuela* Suriname Nicaragua Venezuela* Suriname

4G LTE subs as percent of total subs in Latin America 636,154

Costa Rica*
2,650,272
Colombia*
9,351,685 23,565,514
84,186
French
Guyana
19,001 263,618
Costa Rica* Colombia*
208,405 1,085,730
930
French
Guyana
S&P Global Market Intelligence sometimes estimates all or part of a company's budget breakdown when the company is unable or unwilling to provide it. These estimates are based on conversations
with company representatives, published sources, and information gathered from joint venture partners. The nonferrous exploration budgets covered by S&P Global Market Intelligence include
spending for gold, base metals, platinum group metals, diamonds, U3O8 (coverage initiated in 2007), silver, rare earths, potash/phosphate, and many other hard-rock metals, but specifically exclude
10,385 384
exploration budgets for iron ore, coal, aluminum, oil and gas, and many industrial minerals.
Ecuador* Ecuador*
Mexico 3,936,848 787,635

Metals & Mining global coverage

Peru* Brazil* Peru* Brazil*
56,006,114 19,308,101 554,142 3,946,153

Bolivia* Bolivia*
3,502,376 75,021

13% 21% 28% Paraguay* Paraguay*

26,000+ 10,000+ 15 36,000+

112,745 115,524 121,850 Brazil 5,524,255 121,857

Chile* Chile* Metals & Mining Research articles and Commodity cost curves Mining properties and
796,721 Argentina
11,663,841 Argentina
Uruguay* 229,434 Uruguay* companies, including over news published in 2018 across precious metals, 6,000 operating mines
3,425,741 123,657
5,371,320 3,600 listed companies base metals and bulks

Colombia

3,000+ 20+ 49,000+ 2,300+

Falkland Falkland
24% 42% 53% Islands Islands
250,668 244,127 246,827 4,786 11

Companies surveyed for Years of expertise in Drill results recorded for Capital offerings
12% 20% 26% our 2018 Corporate exploration budget data over 1,250 active global completed by mining
55,936 58,649 60,940 Country Data as of August 6, 2019.
Exploration Strategies projects in 2018 companies in 2018
*
Supply chain data is sourced directly from country. Map credit: Elizabeth Thomas Source: Panjiva

Peru
2016 2017 2018

% % % 4G subs as a % of
total mobile subs
Supply chain global coverage Latin America exploration budget Other key industries –
12% 39% 58%
(000) (000) (000) by destination country ($M) Global company coverage
– Over 1.5 billion shipment records – Covering ~40% of all global trade
36,154 37,765 40,263 Real Estate 90,000+
Total mobile subs – Data from 18 country sources – 9 million companies profiled Colombia: 4%
(circles sized by total mobile subs)
Chile Asset Management 58,000+
– USA, China, India, Mexico, Brazil and 11 countries in Latin America – 13 million company-to-company relationships Ecuador: 7% Chile: 25%
Argentina Banks 56,800+
Oil & Gas 26,000+
Argentina: 9%
Insurance 25,000+
23% 40% 49%
26,785 27,138 28,339 Map compiled August 9, 2018.
Data as of year-end 2018.
Best Data Analytics Provider Brazil: 10% Peru: 21%
Utility
Investment Banks/Brokers
19,000+
18,000+
22% 39% 48% Map credit: Elizabeth Thomas
S&P Global Market Intelligence won “Best Data Analytics Provider” for the second-year running for our S&P Capital IQ
63,481 61,509 60,523 Source: S&P Global Market Intelligence Speciality Finance 11,000+
platform, at the 2019 Waters Ranking Awards. Mexico: 17% Fintech 9,800+