4Q 2018 TGI Results Presentation 1 March 13, 2019 Disclaimer - PowerPoint PPT Presentation

4Q 2018 TGI Results Presentation 1 March 13, 2019

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

Agenda 01 Key Updates 02 Financial and Operational Performance 03 Investment Projects 04 Questions and Answers 3

01 Key Updates 4

1 Key Updates Financial Performance October 17: Pricing of TGI´s Bond with maturity on 2028, closing at a rate of 5,55% and reaching a Bid to offer of 3,5 times October 24: Dividend payment (remaining balance) to GEB for COP$150.038 million November 1: Replacement of the 2022 bond for the 2028 bond December 3: Capitalization of Contugas for USD$1,8 million Commercial Performance Award of Transmilenio tender: 481 of 1.383 articulated and biarticulated, with an estimated volume of 2,9 Mpcd Satisfactory results of the TGI 2018 Forum, with an attendance of more than 270 guests, participation of different agents of the chain, guilds, government and the country’s productive sector Operational Performance December: Exit points Floresta (Boyacá) and Paratebueno (Cundinamarca) were delivered End of December: Entry into operations of the realignment for the Gualanday Dina gas pipeline Increase in the capacity of the Morichal - Yopal gas pipeline, from 5 Mpcd to 11,8 Mpcd 5

02 Financial and Operational Performance 6

2 Stable andpredictable generation of cash flow TGI presents an important stability Quarterly Revenue in its revenue USD$ Million 2018 USD$441,7 112,7 111,0 109,9 6,9% YoY 108,1 104,7  TGI’s revenue is highly regulated  The Company has excellent quality of contracts:  97% of firm contracts, with an average remaining life of 7 years  Firm contracts - 90% of fixed charges  In 4Q 2018, the main clients of TGI represented approximately 88% of the total operational revenue and the most representative sectors represented 98% of such entry 4Q 2017 1Q 2018 2Q2018 3Q 2018 4Q 2018 Revenue Breakdown Revenue by Industry Revenue by Customers 64,5% 63,9% 31,3% 4Q 2018 4Q 2018 4Q 2017 4Q 2017 28,5% 19,3% 18,3% 14,7% 13,0% 13,7% 11,6% 10,3% 9,1% 13,1% 12,9% 12,9% 6,1% 5,0% 4,9% 5,1% 10,3% 8,3% 4,9% 7,2% 4,2% 2,3% 2,3% 1,5% 0,8% 7 Gas Natural Gases de Ecopetrol EPM Isagen Alcanos Efigas Others Distributor Refinery Thermal Commercial Vehicular Others Occidente

2 TGI Financial Performance 3 months figures / USD$ Million Costs| Operational Expenses Operational income 70,71 63,82 2018 2018 58,67 USD$198,27 56,13 USD$249,33 55,02 13,7% YoY 53,08 3,9% YoY 52,61 52,12 51,37 39,27 4Q 2017 1Q 2018 2Q2018 3Q 2018 4Q 2018 4Q 2017 1Q 2018 2Q2018 3Q 2018 4Q 2018 EBITDA & EBITDA Margin Net Income 63,16 91,65 2018 2018 82,13 USD$328,98 USD$136,01 77,91 77,29 3,9% YoY -3,0% YoY 72,67 Margin: 74,5% 43,14 37,66 83,4% 72,9% 72,1% 69,6% 69,4% 22,69 12,50 8 4Q 2017 1Q 2018 2Q2018 3Q 2018 4Q 2018 4Q 2017 1Q 2018 2Q2018 3Q 2018 4Q 2018

2 TGI Financial Performance Total Assets Cash and Equivalents (USD$ Million) (USD$ Billion) 3,24 2,81 258,00 2,60 2,49 229,00 79,50 46,82 2015 2016 2017 2018 2015 2016 2017 2018 PPE Liabilities | Equity (USD$ Billion) (USD$ Billion) 1,27 0,77 2,28 2,22 2,20 2,18 0,81 0,84 2,04 1,97 1,79 1,65 9 2015 2016 2017 2018 2015 2016 2017 2018 Liabilities Equity

2 TGI Financial Performance Debt profile Gross Total Debt / EBITDA Total 4.0 (1) USD$1,2 billion 4,0 Subordinated Debt 3,7 31.6% 3,5 3,4 IELAH 3.4% TGI Bond 64.0% Leasing & Renting 1.0% 2015 2016 2017 2018 LTM Net Total Debt / EBITDA EBITDA / Financial Expenses 5,0 4,4 3,8 3,8 3,5 3,4 3,2 2,7 10 LTM 2015 2016 2017 2018 2015 2016 2017 2018 LTM (1) Reasonable indebtedness limit

2 TGI Operational Performance Gas pipeline length Transported Volume Average – mpcd (km) 3.994 3.994 3.994 3.957 3.957 460 460 440 438 426 1Q 2018 2Q 2018 3Q 2018 4Q 2018 Q4 2018 1Q 2018 2Q 2018 3Q 2018 4Q 2018 Q4 2018 The total length of the TGI pipeline system is Of the total transported volume in the gas pipeline approximately 3.994 km, of which 3.844 km are owned and network at a national level, TGI continues to be the main operated by TGI; the remaining 150 km, even though they actor with 460 Mpcd, the second is Promigas with 358,2 are under the control and supervision of TGI, are operated Mpcd. by the contractor. 11

2 TGI Operational Performance Firm contracted capacity (1) Total Capacity Average – mpcd (mpcd) 792 785 785 785 754 719 716 713 704 689 91% 92% 91% 90% 90% 1Q 2018 2Q 2018 3Q 2018 4Q 2018 Q4 2018 1Q 2018 2Q 2018 3Q 2018 4Q 2018 Q4 2018 Use factor 52,3% 52,1% 51,9% 50,8% 50,0% 1Q 2018 2Q 2018 3Q 2018 4Q 2018 Q4 2018 12 (1) The trend line refers to the ratio: Firm contracted capacity/available capacity. The Available capacity differs from the Total Capacity because TGI requires a percentage of the capacity for its own use.

03 Investment Projects 13

3 TGI Outlook Gas pipeline network (1) New opportunities in evaluation Northen Guajira Producers: The following IPAT projects are subject to being executed by TGI, according to the following resolutions in force: Chevron References 0,71 tcf Caribbean Sea Ecopetrol • Loop Marquita – Gualanday TGI Gas pipelines Cartagena • Barrancabermeja – Ballena Bidirectionality Third-party Gas pipelines Refinery • Yumbo – Mariquita Bidirectionality VENEZUELA Natural Gas Reserves 0,49 tcf • Compressor Project. Jamundi Branch - City Field Downstream (Pradera Node) Refinery Middle Magdalena Lower Magdalena Reserves in other regions 0.4 2tcf TGI is waiting for the release of the final terms of reference for the Barrancabermeja Total reserves 3.89 tcf following project, to decide on its participation: Refinery Bucaramanga • Regasification – Plant - Buenaventura and Buenaventura Medellin Pacific Ocean 2.27 tcf Yumbo Gas pipeline Bogotá Cusiana-Cupiagua New expected date for start of operations: September 2023 Estern Producers: Cali Ecopetrol Equion Neiva High Magdalena Valley Source: National Mining and Energy Planing Unit - National Hydrocarbons Agency 14 (1) has access to the three main gas production fields, Guajira and Cusiana-Cupiagua

3 Investment Projects in Execution Total project Project Description Status investment Increase the natural gas transportation capacity in 58 Mpcd between Cusiana and Vasconia, with the construction of • Total Capex executed to date – USD$27,8 million Cusiana 39,6 Km of 30" diameter loops ~$ 70,7 mm • Total Capex executed 4Q 2018 – USD$8,4 million Phase IV • Execution – 52,4% • Expansion of the Gas Compression • Start of Operations – 1T 2020 Station of Puente Guillermo • Modifications to the Gas Compression Stations of Miraflores and Vasconia Replacement of 4 branches for reaching their regulatory useful lifespan in accordance with resolution CREG 126 of • Total Capex executed to date – USD$2 million 2016 Replacement of • Total Capex executed 4Q 2018 – USD$0,7 million  Branch Yarigüíes - Puerto Wilches ~$ 11,6mm • Execution – 23,9% Branches  Branch – Z. Industrial Cantagallo • Start of Operations – 3Q 2019 Cantagallo  Branch Cantagallo – San Pablo  Total Galán – Casabe – Yondó 15

04 Questions and Answers 16