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Geb corporate presentation

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  • 1. Empresa de Energía de Bogotá - EEB A Regional Leader in the Energy Sector
  • 2. Disclaimer The information provided herein is for informational and illustrative purposes only and is not, and does not seek to be, a source of legal or financial advice on any subject. This information does not constitute an offer of any sort and is subject to change without notice. EEB expressly disclaims any responsibility for actions taken or not taken based on this information. EEB does not accept any responsibility for losses that might result from the execution of the proposals or recommendations presented. EEB is not responsible for any content that may originate with third parties. EEB may have provided, or might provide in the future, information that is inconsistent with the information herein presented. 2
  • 3. Transportation and distribution of energy with involvement in other areas in the energy sector. EEB Strategy and Overview Guatemala Colombia Perú 68.1% Natural Gas 25% Transportation Distribution Electricity Transmission Distribution 100% 51.5% * 16.2% 51% 82% 51.5% * 2.5% Generation Natural Gas Transportation Distribution 60% 15.6% 40%40% 1.8% 100% Electricity Transmission 75% Eng & Services Electricity Transmission 100% Eng & Services 98.4% Focus on natural monopolies Growth in controlled subsidiaries Sound regulatory framework Ample access to capital markets  Operations in countries with strong growth potential – Colombia: regional leader in electricty and natural gas and a center for energy exports – Peru: regional leader in mining and energy-intensive industries – Guatemala: a window for future investments in Central America  Exploration of opportunities in America *EEB is not the controlling shareholder and is a party to signed shareholder agreements. 3
  • 4. Leaders in every market Electricity transmission Market share (%) (Km of 220-138 kV lines ) Electricity transmission Market share (%) (Km of lines) Electricity distribution Market share (%) (Kwh) Electricity generation Market share (%) (Generation) # 1 Peru # 2 Colombia # 1 Colombia # 2 Colombia Gas distribution Market share (%) (No. clients) 59.0% Gas transportation Market share (%) (Average volume transported) 85.0% Gas distribution Market share (%) (No. clients) 100.0% # 1 Colombia # 1 Colombia # 1 Perú 57.6% 8.0% 26.6% 20.9% Electricity transmission Project ongoing (850 Km L/T and 24 S/E) # 1 Guatemala 4
  • 5. Focus on natural monopolies 5
  • 6. Strong Presence in Relevant Countries Natural Gas *Reservations to 3T12 Source: ANH, MEM, UPME 8,5 7,1 6,6 7,1 2009 2010 2011 2012 Natural Gas Reserves - Colombia - Tcf 843 884 831 894 994 2009 2010 2011 2012 2015E Natural Gas Demand - Colombia - MMCFD 26,0 23,1 21,5 21,5 2009 2010 2011 2012* Natural Gas Reserves - Perú - Tcf 333 417 484 528 950 2009 2010 2011 2012 2015E Natural Gas Demand - Perú -MMCFD 6
  • 7. 8,013 8,276 8,513 8,557 10,816 2009 2010 2011 2012 2015E Electricity Demand - Guatemala - GWh Source: ANH, MEM, UPME Strong Presence in Relevant Countries Electricity 54,679 56,148 57,157 59,367 66,044 2009 2010 2011 2012 2015E Electricity Demand - Colombia - GWh 27,003 32,314 36,779 40,940 52,312 2009 2010 2011 2012 2015E Electricity Demand - Perú - GWh 7
  • 8. Stable and Growing income* * Total of Operating Revenues per company Predictability and stability in regulated revenues. 81% of revenues comes from regulated business. 422,4 495,7 605,9 871,6 1.076,2 1.114,4 2008 2009 2010 2011 2012 2013 Natural Gas Distribution - USD mm GAS NATURAL CÁLIDDA TOTAL 1.317,7 1.584,2 1.730,3 1.807,4 2.092,1 1.972,1 2008 2009 2010 2011 2012 2013 Electricity Distribution - USD mm CODENSA DECSA EMSA TOTAL 136,2 152,4 162,1 181,5 207,3 288,9 2008 2009 2010 2011 2012 2013 Electricity Transmission - USD mm REP CTM 279,6 365,2 401,9 439,1 536,4 578,1 2008 2009 2010 2011 2012 2013 Natural Gas Transportation - USD mm TGI PROMIGAS TOTAL 8
  • 9. Growth through controlled subsidiaries 9
  • 10. Consolidated Financial Results – Evolution EBITDA Normalized Dividends: *2010 excludes dividends declared based on an early close of Gas Natural’s, Emgesa’s and Codensa’s financial statements. These figures are included in 2011, when such dividends would normally have been declared.** Anticipated dividends declared by Codensa on first half 2011, were included in 2012. 81% 67% 56% 55% 61% 44% 45% 48%19% 33% 44% 45% 39% 56% 55% 52% 2006 2007 2008 2009 2010 2011* 2012** 2013 Consolidadted Adjusted EBITDA & Normalized Dividends (USD Millon) Dividends Operational EBITDA 240.9 471.3 416.4 515.6 586.4 818.5 921.7 705.0 EEB Transm, Trecsa & EEBIS Gt 3% TGI 39% Decsa/EEC 4% Cálidda, Contugás & EEBIS 6% Emgesa 22% Codensa 15% Gas Natural 3% Promigás 3% ISA, REP & CTM 4% Otros 1% EBITDA Consolidated Adjusted LTM 2013 Per subsidiary 10
  • 11. Ambitious projects under execution 11
  • 12. Consolidating the Strategy CAPEX Executed 2013: USD 385.7 mm CAPEX Executed 2013: USD 661.4 mm Natural Gas Transportation • CAPEX Exec. 2013: USD 35.1 mm • Construction: Sabana Station: 34% • Planning: Regional Syst. (4Q 14) Electricity Transmission • CAPEX Exec 2013: USD 32.4 mm • Total Investment: USD 308 mm • Under Construction 4Q: • Armenia – 99% • Alferez – 100% • Tesalia – 77% • Chivor II Norte – 16.9% • SVC Tunal – 15.8% Engineering and related services • CAPEX Exec. 2013: USD 1.9 mm • Sugarmills Investment: USD 44 mm • Under construction • Full operation 2014-15 Electricity Transmission • CAPEX Exec. 2013: USD 82.4 mm • Total Investment: USD 376 mm • Started operation (partially): 4Q13 • Under construction:4Q 13: 59.6%. • Delivered 2015 Natural Gas Distribution • CAPEX Exec 2013: USD 97.5 mm • Total investment: USD 500 mm • By the end of 2016 it is expected to have 455,000 customers connected. Natural Gas Transportation and Distribution • CAPEX Exec. 2013: USD 104.5 mm • Total investment: USD 350 mm • Under construction:4Q 13: 89%. • Full operation 2Q 14 Electricity Generation • CAPEX Exec. 2013: USD 333.6 mm • Quimbo Project (400 MW) • Total investment: USD 1.08 bn • Exec 2013: USD 279 mm • Accum. Exec: USD 564.8mm • Execution 4Q-13: 57.3% Electricity Distribution • CAPEX Exec. 2013: USD 145.7 mm • Projects executed 2013: • New and existing demand • Quality service and continuity • Control operational risk Electricity Transmission • CAPEX Exec. 2013: USD 96.7 mm • Extensions and new concessions; 2013- 2014 Electricity Transmission • CAPEX Exec 2013: USD 20.5 mm • Extensions and new concessions; 2013 - 2014 Natural Gas Transportation and Distribution • CAPEX Exec. 2013: USD 49.5 mm • Total investment: USD 137 mm • Liquefaction Plant: Invest. USD 34 mm 3Q14 • Pipeline Mamonal – Sincelejo: USD 70 mm Controlled Subsidiaries Non-Controlled Subsidiaries 12 Natural Gas Distribution: CAPEX Exec. 2013: USD 15.5 mm Electricity Transmission: CAPEX Exec. 2013: USD 31.8 mm
  • 13. 1.9 1.5 1.5 1.6 1.5 4.5 4Q 12 1Q 13 2Q 13 3Q 13 4Q 13 Net Debt / EBITDA Consolidated Adjusted Net Debt / EBITDA Consolidated Adjusted OM < 8.8 12.9 12.4 9.1 11.1 2.5 4Q 12 1Q 13 2Q 13 3Q 13 4Q 13 EBITDA Consolidated Adjusted/ Interest EBITDA Consolidated Adjusted / Interest OM > Financial Plan 2013-2017 Investments & Funding Sources 2013 -2017 Funding Sources USD Millon Cash Generation 1,937.5 Financial debt 3,278.6 Third Parties (Contributions of Capital) 10.0 Sources to be defined 2,320 TOTAL INVESTMENTS 7,546.1 Cash Generation 26% Financial debt 43% Third Parties (Contribution s of Capital) 0% Other Non- financial sources 31% Composition of Investments M&A: 67% Capex: 33% 13
  • 14. Access to Capital Markets 14
  • 15. Access to Capital Markets Consolidated Debt Maturity Profile USD Millions GEB Transactions USD Millions USD 1,565 USD 1,542 USD 1,737 USD 1,869 USD 2,337 4,72% 3,43% 6,36% 2.7% 95,28% 96,57% 93,64% 97.3% 97.9% 2009 2010 2011 1S 2012 1S 2013 Consolidated Debt Composition - USD MM Deuda Total %COP % USD 20132012 15
  • 16. EEB Share Performance 2013 Ticker EEB:CB As at Mar 18th, 2014 EEB’ market capitalization was USD 6,5 Billion Trading volume tripled after the Equity Offering Nov 2011. The stock is part of COLCAP, COL20, and COLEQTY Average Target Price: COP 1,711 USD 0.84 16
  • 17. Creating Value to shareholders * Values for years prior to the 2011 dividend were adjusted to split 100:1 which enforced the 20.06.11 stocks. Shares outstanding from Nov. 11: 9,181,177,017 * In 4Q 10 there was an advance cut of financial statements, reason why during 1Q 11 EEB decreed no dividends. 1Q 12 normalizes this effect. 97,7 353,8 571,0 157,1 390,6 437,8 327,3 91,8 142,6 368,0 109,0 228,3 306,5 203,4 94% 40% 64% 69% 58% 70% 62% 141% 40% 64% 105% 58% 70% 79% 0,0 100,0 200,0 300,0 400,0 500,0 600,0 0% 20% 40% 60% 80% 100% 120% 140% 160% 2008 2009 2010 2011 2012 2013 Avg 2008-2013 Evolution Dividend Payout Ratio (USD Mm) Net Profit Dividends Dividend payout on last year profit Dividend payout + Including realeased reserves 0.025 17
  • 18. Financial Highlights 18
  • 19. Consolidated Financial Results 515,6 944,0 557,0 723,5 921,7 2009 2010 2011 2012 2013 Consolidated EBITDA (USD Millions) 353,8 571,0 157,1 390,6 437,8 2009 2010 2011 2012 2013 Net Income (USD Millions) 455,3 487,2 731,8 896,4 1.016,4 2009 2010 2011 2012 2013 Operating Revenues (USD Millions) 203,6 140,2 283,5 315,9 315,5 2009 2010 2011 2012 2013 Operating Profit (USD Millions) 19
  • 20. Investor Relations For more information about Grupo Energía de Bogotá contact our Investor Relations team: http://www.eeb.com.co http://www.grupoenergiadebogota.com/en/investors Fabian Sánchez Aldana Investor Relations Advisor GEB +57 (1) 3268000 – ext 1897 fsanchez@eeb.com.co Antonio Angarita Investor Relations Officer GEB +57 (1) 3268000 - ext 1546 aangarita@eeb.com.co Rafael Andres Salamanca Investor Relations Advisor GEB +57 (1) 3268000 – ext 1675 rsalamanca@eeb.com.co Felipe Castilla Canales Chief Financial Officer - GEB +57 (1) 3268000 – ext 1501 fcastilla@eeb.com.co 20

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