TGI reported stable operational and financial performance in 2015. The company transported 672 million standard cubic feet per day of natural gas through its 3,957 km pipeline network, maintaining high utilization rates. Financially, TGI generated $522 million in revenues in 2015, with gross profits of $394 million, representing a gross margin of 75%. Funds from operations were $454 million in 2015, demonstrating the company's consistent cash flow generation. TGI expects to complete the regulatory review process in 2016-2018, which occurs every five years and impacts future tariffs and revenues.

1. 2015 TGI
RESULTS AND KEY
DEVELOPMENTS
March 8th 2016
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2. Disclaimer
This presentation contains statements that are forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and
Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are only predictions and are not guarantees of future performance. All
statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements include, among other things,
statements concerning the potential exposure of TGI, its consolidated subsidiaries and related companies to market risks and statements expressing management’
expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as
“anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “objectives”, ”outlook”, “probably”, “project”, “will”, “seek”, “target”, “risks”, “goals”,
“should” and similar terms and phrases. Forward-looking statements are statements of future expectations that are based on management’s current expectations and
assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or
implied in these statements. Although TGI believes that the expectations and assumptions reflected in such forward-looking statements are reasonable based on
information currently available to TGI’s management, such expectations and assumptions are necessarily speculative and subject to substantial uncertainty, and as a
result, TGI cannot guarantee future results or events. TGI does not undertake any obligation to update any forward-looking statement or other information to reflect
events or circumstances occurring after the date of this presentation or to reflect the occurrence of unanticipated events.
2

3. Table of contents
1. Overview
2. Key updates
3. Operational and Financial performance
4. Expansion Projects
3

4. 1. Overview
4

5. Overview
Stable and growing Colombian economy with sound investment environment
Largest natural gas pipeline system in Colombia
Strategically located pipeline network
Natural monopoly in a regulated environment
Constructive and stable regulatory framework
Stable and predictable cash flow generation, strongly indexed to the US Dollar
Strong and consistent financial performance
Experienced management team with solid track record in the sector
Expertise, financial strength and support of shareholders
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6. TGI history
Highlights
Owns ~60% of the national gas pipeline network (3,957 km) and
transports 54% of the gas consumed in the country
− Serves ~70% of Colombia’s population, reaching the most
populated areas (Bogota, Cali, Medellin, the coffee region and
LLanos, among others)
− Has access to the two main gas production basins, Guajira
and Cusiana/Cupiagua
Pipeline network
Cartagena
Refinery
Barrancabermeja
Refinery
Bucaramanga
Bogota
Neiva
Cali
Medellin
3.15 tcf
1.97 tcf
Eastern
Producers:
Ecopetrol
Equion
Upper Magdalena Valley
Lower and Middle
Magdalena Valley
Northern
Producer
s:Chevron
Ecopetrol
1.89 tcf References
TGI Pipelines
Natural Gas Reserves
City
Field
Refinery
Third Party Pipelines
Source:
Mining and Energy Planning Unit.
National Hydrocarbons Agency.
PacificOcean
Caribbean
Sea
VENEZUELA
Company history
6

7. 2. Key Updates
7

8. Key Updates
Final steps of TGI’s stake (31.92%) acquisition by parent company (EEB)
• EEB completed TGI´s stake acquisition in 2H2014 through the acquisition of 100% of IELAH (SPV) domiciled in Spain.
• For this acquisition EEB obtained an international syndicated loan of USD 645 mm in September 11, 2014. This financing was
obtained by IELAH on behalf of EEB. Current outstanding debt of IELAH is USD 394 mm, after two partial repayments done in
March 2015 (USD 76 mm) and September 2015 (USD 175 mm). In the next interest payment date (March 2016) TGI will
disbursed to IELAH USD 175 MM to make another prepayment of the syndicated loan.
• On January 29th 2016, the Colombian Societies Superintendence (Supersociedades) approved the merger between TGI and
IELAH. As a result the debt of that entity will be in TGI´s BS.
• On January 27th 2016, a Shareholders General Meeting elected new board members for the company (1).
• On February 22th 2016 TGI’s BoD appointed Mr. Julian Garcia as company´s CEO. He has 30 years experience in the oil and
gas industry, holding executive positions in different companies, including President of three listed oil companies. Mr Garcia is a
Civil Engineer from Universidad de los Andes (Bogota), M.Sc. in Civil Engineering (Colorado State University - USA), M.B.A.
(University of Birmingham – England) and M.A. in Economics (Universidad de Los Andes – Bogota).
New BoD and CEO
(1) For detailed information of the new members please review TGI’s Investors Report 2015 8

9. Key Updates
• On June 12th, Moody’s ratings affirmed TGI’s corporate debt and issuer rating in ‘Baa3’, stable perspective
• On September 3rd, Standard & Poor’s affirmed the TGI corporate debt and issuer rating in ‘BBB-‘, negative
perspective, aligned with parent rating EEB.
• On October 28th, Fitch Ratings affirmed TGI’s corporate debt and issuer rating in ‘BBB’, stable perspective.
• TGI’s current ratings are as follows:
TGI’s credit ratings: Investment Grade
Baa3 Stable OutlookBBB Stable Outlook BBB Negative Outlook
Transition process to International Financial Reporting Standards - IFRS
• TGI completed the transition process from Col GAAP to IFRS
• Mandatory transition period began on Jan. 1, 2014 (Opening Balance and the first financial statements under
IFRS were issued as of Dec. 31st , 2015
• TGI prepared interim financial statements under IFRS for the merging process with IELAH.
9

10. Regulation perspectives – Tariff Review Process
 New tariff
methodology
term sheet
proposition for
discussion
 New tariff
methodology
proposition for
discussion
 Definition of final
regulatory WACC
methodology
 First tariff
approval
resolution
for TGI
 Appeal/ Request
for
reinstatement
by TGI
 Approval and
implementation of
final charges for
TGI
 Definition of final
tariff methodology
 Information request
by CREG for the
definition of charges
Dec. 2014
Mar. 2016
Dec. 2016 Oct. 2017
Nov. 2017
 Beginning of
current tariff
methodology
period
 Tariffs
become
effective
for TGI
Dec. 2012
5 year regulatory period
Nov. 2018
 End of public
information audit
stage by CREG and
expressions of
interest by third
parties
Apr. 2017
• The lastest tariff methodology was approved by CREG Resolution No. 126 in August 2010 and became effective for TGI in December 2012 (CREG Resolution No. 121).
The tariff methodology review process takes place every 5 years, but the actual tariff application is usually delayed
• The previous tariff period was effective from December 2003 to December 2012, a total of 9 years
• The new regulation is expected to be approved in 2016, with the updated tariffs coming into effect in 2018 (the starting point for the 5 year-period is set by the CREG
approval of the new tariff methodology)
Key Updates
10

11. 3. Operational and Financial Performance
11

12. Solid operational performance
Network length
3,529
3,774 3,774
3,957 3,957 3,957 3,957
2009 2010 2011 2012 2013 2014 2015
(km)
Capacity
478
548
618
730 730 730 734
2009 2010 2011 2012 2013 2014 2015
437
485
560
604
628
647 672
92% 90% 92%
85% 88% 91% 94%
2009 2010 2011 2012 2013 2014 2015
Firm Contracted Capacity(1)
Transported Volume Gas Losses Load factor
0.20%
0.57% 0.54% 0.52%
0.41%
0.00%
0.59%
2009 2010 2011 2012 2013 2014 2015
(MMscfd) (MMscfd)
69% 71%
58% 59% 61% 64% 67%
2009 2010 2011 2012 2013 2014 2015
(%)(MMscfd)
(1)The trend line refers to the ratio: Firm contracted capacity/available capacity. The Available capacity differs from the Total
Capacity as TGI requires a percentage of it for its own use.
(%)
396 422 420 422
454
494
522
2009 2010 2011 2012 2013 2014 2015
12

13. Stable and predictable cash flow generation
TGI’s revenues are highly predictable as a result of regulated tariffs and stable consumption
• TGI’s revenues are highly predictable, with approximately 99% coming from regulated tariffs that are reviewed at
least every 5 years, ensuring cash flow stability and attractive rates of return
• Main sectors served by the Company (75%(1) of revenues) present stable consumption patterns (no seasonality)
• The Company enjoys excellent contract quality:
• 100% of TGI’s contracts are firm contracts with an average life of 9.5 years
• 89% of regulated revenues are fixed tariffs, not dependent on transported volume
• Extremely low sensitivity of EBITDA to changes in exchange rate
(1) Includes Distributors, Ecopetrol´s refinery and Natural gas for Vehicles
Revenues breakdown as of December 31- 2015
63%
12%
16%
3% 3% 2%
59%
13%
18%
3% 3% 4%
Distributor Refinery Thermal Commercial Vehicular Others*
Share
By Industry
2015 2014
13%
24%
18%
11%
7%
27%
15%
21%
16%
12%
7%
30%
Ecopetrol Gas Natural Gases de
Occidente
EPM Isagen Others*
Share
By Client
2015 2014
13

14. TGI Financial Performance
Revenues(3) Gross profit and Gross margin (3)
(US$ million – EOM exchange rate for each period) (US$ in millions – EOM exchange rate for each period)
(US$ million – EOM exchange rate for each period) (US$ million – average exchange rate for each period)
Funds from operations (1) (2) (3)
EBITDA and EBITDA Margin(3)
(1) FFO for the years 2009 - 2013 is presented under ColGaap standards as net income plus depreciation, amortization and provisions, adjusted for effect from exchange rate and hedges. 2014 and
2015 is presented under IFRS as net income plus depreciation, amortization and provisions, adjusted for effect from exchange rate , hedges, and the impact of deferred taxes.
(2) On 2012 FFO includes the LM transaction premium~ USD 69 million (one time event)
(3) Figures for the years 2009 - 2013 are presented under ColGaap standards. 2014 and 2015 are presented under IFRS. IFRS figures are preliminary subject to changes, independent auditor’s revision
and General Shareholders Assembly
252
294
338
390
465 468
439
2009 2010 2011 2012 2013 2014 2015
172
196
226
250
323 324
301
68.1% 66.7% 66.8% 64.1%
69.4% 69.2% 68.5%
2009 2010 2011 2012 2013 2014 2015
196
222
257
289
359 372 361
78%
75% 76% 74% 77% 80% 82%
2009 2010 2011 2012 2013 2014 2015
96 108 117 133
268
303 293
2009 2010 2011 2012 2013 2014 2015
14

15. TGI Financial Performance
Total Assets(1) Cash and Equivalents(1)
(US$ billion – end-of-year exchange rate for each period) (US$ million – end-of-year exchange rate for each period)
(US$ billion – end-of-year exchange rate for each period) (US$ billion – end-of-year exchange rate for each period)
Liabilities (1)
PPE(1)
(1) Figures for the years 2009 - 2013 are presented under ColGaap standards. 2014 and 2015 are presented under IFRS. IFRS figures are preliminary subject to changes, independent auditor’s revision
and General Shareholders Assembly
0.62
0.77
1.40
1.67
1.49
2.32 2.28
2009 2010 2011 2012 2013 2014 2015
1.25 1.30 1.34 1.40 1.40 1.86 1.97
0.76 0.81
1.22
1.48 1.58 1.22
1.27
2009 2010 2011 2012 2013 2014 2015
LIABILITIES EQUITY
2.00 2.12
2.56
2.88 2.98 3.08 3.24
2009 2010 2011 2012 2013 2014 2015
110
71
182 160
364
229
256
2009 2010 2011 2012 2013 2014 2015
15

16. Total Debt / EBITDA (1)
(x)
Total Net debt / EBITDA (1)
(x)
(x) Interest coverage (1)(2)
(x)
Senior Net Debt / EBITDA (1)
(x)
Note: Total debt includes senior debt, subordinated debt and mark-to-market.
(1) Figures for the years 2009 - 2013 are presented under ColGaap standards. For 2014 and 2015 are presented under IFRS. IFRS figures are preliminary, subject to changes, independent
auditor’s revision and General Shareholders Assembly
(2) Interest coverage ratio calculated as EBITDA / net interest
TGI Financial Performance
5.6 5.4
4.9
4.2
3.5 3.3 3.4
2009 2010 2011 2012 2013 2014 2015
2.0 2.1
2.5
4.0
5.9 6.0 6.3
2009 2010 2011 2012 2013 2014 2015
5.1 5.1
4.2
3.6
2.5 2.7 2.7
2009 2010 2011 2012 2013 2014 2015
3.3 3.4
2.7
2.4
1.5
1.7 1.7
2009 2010 2011 2012 2013 2014 2015
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17. 4. Growth Projects
17

18. Growth Projects Pipeline
Project Description Cost Status
Increase capacity 20 mmcf/d by
upgrading Vasconia, Miraflores, Puente
Guillermo compression stations
Cusiana Phase 3.5
~$ 31 mm
• Project is under execution (47.6%) with TGI having already signed firm
transportation contracts
• Expected Completion: 2Q 2016
Increase capacity 17 mmcf/d by
upgrading Puente Guillermo
compression station, enhancing capacity
compression to 412 mmcfd
~$ 7.1 mm
Cusiana - Apiay –
Villavicencio -
Ocoa
Increase capacity 32 Mcfd of the Cusiana – Apiay
line and a 7.7 Mcfd of the Apiay – Ocoa line
through the construction of 2 new compression
stations (Paratebueno and Apiay)
• Project is under execution with TGI having already interested clients to sign
firm transportation contracts
• Does not require environmental licensing
• Expected Completion: 1H 2017
~$ 48 mm
• Project under execution (7.15%)
• TGI has already signed firm transportation contracts
• Environmental licensing and procurement in process
• Expected Completion: 1Q 2017
Cusiana Phase III
Armenia Loop
Increase capacity 2.2 Mcfd of Armenia –Zarzal line
through the construction of a 37.5 km 8” loop
parallel to exiting 6” pipeline
~$ 18 mm
• Project is under execution (24.6%) with TGI having already signed firm
transportation contracts
• Financial and engineering studies in progress
• Environmental licensing in progress
• Expected Completion: 2Q 2017
18

19. 5. Questions and Answers
19

20. Investor Relations
For more information about TGI please contact to:
Antonio José Angarita Vega
CFO
+57 (1) 3138400 - ext 2110
antonio.angarita@tgi.com.co
Sergio Andrés Hernández Acosta
Finance Manager
+57 (1) 3138400 - ext. 2450
sergio.hernandez@tgi.com.co
Fabián Sánchez Aldana
IR Advisor - EEB
+57 (1) 3268000 - ext. 1827
fsanchez@eeb.com.co
http://www.tgi.com.co
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