Corporate Presentation July 2020 1 Disclaimer This presentation - - PowerPoint PPT Presentation

1

Corporate Presentation

July 2020

2 The information provided herein is for informational and illustrative purposes only and is not, and does not seek to be, a source of legal, investment or financial advice on any subject. This presentation does not purport to address any specific investment objectives, financial situation

• r particular needs of any recipient. It should not be regarded by

recipients as a substitute for the exercise of their own judgment. This information does not constitute an offer of any sort and is subject to change without notice. GEB is no obligation to update or keep current the information contained herein. GEB expressly disclaims any responsibility for actions taken or not taken based on this information. GEB does not accept any responsibility for losses that might result from the execution of the proposals or recommendations presented. GEB is not responsible for any content that may originate with third parties. GEB may have provided, or might provide in the future, information that is inconsistent with the information herein presented. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness

• r reliability of the information contained herein.

This presentation may contain statements that are forward-looking within the meaning of Section 27A of the Securities Act and Section 21E

• f the U.S. Securities Exchange Act of 1934. Such forward-looking

statements are based on current expectations, projections and assumptions about future events and trends that may affect GEB and are not guarantees of future performance. The shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or any U.S. State securities laws. Accordingly, the shares are being offered and sold in the United States only to qualified institutional buyers as defined under Rule 144A under the Securities Act, and outside the United States in accordance with Regulation S of the Securities Act. We converted some amounts from Colombian pesos into U.S. dollars solely for the convenience of the reader at the TRM published by the SFC as of each period. These convenience translations are not in accordance with U.S. GAAP and have not been audited. These translations should not be construed as a representation that the Colombian peso amounts were, have been or could be converted into U.S. dollars at those or any other rates.

Disclaimer

3

GEB at a Glance

Section 1

4 More than 120 years of sustainable organic and inorganic growth, record of success

Timeline

Foundation and Transformation Diversification Growth and Consolidation New Corporate Strategy

Recurrent issuer in the local and international capital markets

Int’l Bond Issue USD$320 mm Empresa de Energía de Bogotá (“EEB”) is founded to generate, transmit and distribute electricity in Bogotá The District

• f Bogotá

acquires 100% of the company EEB is transformed from a state-owned entity into a stock corporation

• rganized as a public

utilities company Creation of & through a capitalization and transformation process within EEB Acquisition of assets and agreements of Ecogas through TGI

• Codensa absorbs EEC
• New Corporate Strategy
• Approved sale of up to a 20,0%

stake of major shareholder

• Other minor stake divestitures

Acquisition of Int’l Bond Issue USD$750 mm Concession granted Merger between TGI & Transcogas Acquisition 51,0 % IPO EEB Int’l Bond Issue USD$749 mm GEB reports change in its shareholding structure after democratization Acquisition Acquisition

2020 1896 1959 1996 1997 2002 2006 2007 2008 2009 2010 2011 2012 2013 2015 2016 2017 2018 2019

Int’l Bond Issue USD$400 mm 1st Tranche Local Bond Issue COP$950.000 mm

5

Number of shares outstanding: 9.181.177.017 Total shareholders: 3.688 Shareholders as of January 31, 2018 Number of shares outstanding: 9.181.177.017 Total shareholders : 5.600 Shareholders as of June 30, 2020

76,3% 16,5% 3,6%

OTHER 3,6%

Pension Funds

65,7% 21,0% 5,2%

OTHER 8,1%

Pension Funds

Source: Deceval’s Report June 30, 2020

Shareholding Structure

6

Investment Highlights

Section 2

7

Leading Participant in Relevant Latin American Energy Markets Experienced Management Team, Supported by World-Class Strategic Partners and Strong Corporate Governance Standards A Sustainable Company with Track Record of Value Creation Stable and Predictable Cashflow Generation Proven Ability to Integrate, Develop and Operate Diversified Energy Businesses 1 2 3 4 5

Investment Highlights

8

Proven Ability to Integrate, Develop and Operate Diversified Energy Businesses

GEB is a leading energy holding in LatAm with a diversified portfolio of power and natural gas utilities, classified in three strategic business groups:

Revenue Mar-2020 COP$1.321.792 mm 25,7% YoY 2019 COP$4.887.194 mm 22,1% YoY 6,0% Dividend Yield(3) Approved Dividend on 2019 Income COP$1.285.365 mm COP$140 per share (+8%) CAPEX & Acquisitions(2) Mar-2020 USD$391 mm 458,6% YoY 2019 USD$630 mm 58,7% YoY Stock Market Capitalization COP$21.438.048 mm USD$5,7 bn June 30, 2020 Operating Income Mar-2020 COP$428.977 mm 13,3% YoY 2019 COP$1.395.004 mm 13,3% YoY EBITDA Mar-2020 COP$1.767.587 mm 25,3% YoY 2019 COP$3.123.978 mm 18,2% YoY Net Income(1) Mar-2020 COP$638.138 mm 38,6% YoY 2019 COP$1.845.859 mm 5,6% YoY

Power Distribution Natural Gas Distribution 4,1 mm of clients in Power Distribution 3,4 mm customers in Natural Gas Distribution 14.006 km of Transmission Lines 4.288 km of Gas Pipelines Power Transmission Natural Gas Transportation Power Generation 3.544 MW in Installed Capacity 3.548 GWh in Power Generation (YTD)

Distribution Generation Transportation and Transmission

(1) Net Income – Controlling interest (2) Includes only controlled companies. Mar-2020: Argo USD$330 mm. 2019: Grupo Dunas USD$260 mm (3) Calculated based on the closing share price as of June 30, 2020

9

Proven Ability to Integrate, Develop and Operate Diversified Energy Businesses

* * * *

Distribution Transportation & Transmission Generation

*

*Non-controlled company

10

Leading Participant in Relevant in LatAm Energy Markets

Guatemala Colombia Peru Brazil

Guatemala

# 1 Guatemala(1)

(Private Company) Market Share % Revenue NTS Power Transmission 20,8%(1) Market Share % Distributed Volume Natural Gas Distribution 75,5%(3)

# 1 Peru(3)

Market Share % Revenue NTS Power Transmission 67,9%(2)

# 1 Peru(2)

Peru Brazil

Market Share % Network NTS (km) Power Transmission 1,64%(4)

Colombia

# 1 Colombia(5)

Market Share % Nat’l Network (km) Natural Gas Transportation 54,0%(5)

# 1 Colombia(6)

Market Share % Subscriptions Power Distribution 23,9%(6)

# 1 Colombia(8)

Market Share % Installed Capacity Power Generation 20,1%(8)

# 2 Colombia(9)

Natural Gas Distribution Market Share % Connected Users 32,1%(9)

# 2 Colombia(7)

Market Share % Revenue NTS Power Transmission 21,8%(7)

GEB’s subsidiaries and affiliates have market leading participations across the energy chain in Colombia, Peru and Guatemala

Market Share % Distributed Volume Power Dist. / Generation 3,23% (3)

(4)

Source: (1) https://www.amm.org.gt/portal/?page_id=146; (2) http://www.coes.org.pe/portal/;(3) http://www.minem.gob.pe/_estadisticaSector.php?idSector=5 & http://www.perupetro.com.pe/exporta/, http://www.perupetro.com.pe/exporta/; (4) http://www.mme.gov.br/web/guest/secretarias/energia-eletrica/publicacoes/boletim- de-monitoramento-do-sistema-eletrico/boletins-2019; (5) http://coinotel.com/beo/manualtransportador.pdf;https://www.progasur.com.co/gasoductos.php?Men=3;http://www.promioriente.com/Es/BEO/Paginas/ProcedimientosOperacionales/Mapa-del- gasoducto.aspx;http://www.transmetano.co/Es/BEO/Paginas/ProcedimientosOperacionales/Mapadelasoducto.aspx;https://beo.tgi.com.co/Blog/Gasoductos;;;http://www.promigas.com/Es/BEO/Paginas/ProcedimientosOperacionales/Mapa-del-gasoducto.aspx;http://www.transoccidente.com.co/Es/BEO/Paginas/Manual- Transportador/Mapa-del-Gasoducto.aspx(6) http://reportes.sui.gov.co/fabricaReportes/frameSet.jsp?idreporte=ele_com_094; (7) www.xm.com;(8) http://informacioninteligente10.xm.com.co/oferta/Paginas/HistoricoOferta.aspx; (9) Proyección basada en el crecimiento promedio de usuarios conectados trimestralmente,(10) https://www.osinergmin.gob.pe/seccion/institucional/regulacion-tarifaria/publicaciones/regulacion-tarifaria

11

Note: Figures for the years 2006 to 2013 are presented under ColGaap standards. From 2014 onwards they are presented under IRS. GEB initially calculated EBITDA on the basis of operating revenues; however, as a result of the adoption of IFRS in 2015, and to be consistent with market practices, the calculation of adjusted consolidated EBITDA was started on the basis of net income, and the years 2017, 2018 and 2019 were restated in order to make the figures comparable. It should be noted that the amounts previously reported do not differ materially from those currently adjusted.

EBITDA performance

EBITDA by business line LTM Mar-20 EBITDA by segment LTM Mar-20

COP$ mm USD$ mm 586 705 819 922 821 887 878 823 894 954 COP$3.484.107 mm COP$3.484.107 mm 985 +19,8% YoY +19,8% YoY

Power Transmission 18,1% Power Distribution 12,2% Natural Gas Transportation 38,8% Natural Gas Distribution 17,9% Power Generation 13,0% Transportation and Transmission 56,9% Distribution 30,1% Generation 13,0%

39%

56% 55% 52% 56% 65% 67% 70% 69% 72% 68%

61%

44% 45% 48% 44% 35% 33% 30% 31% 28% 32%

$ 1.122.343 $ 1.369.533 $ 1.447.335 $ 1.775.908 $ 1.964.666 $ 2.437.419 $ 2.528.614 $ 2.455.216 $ 2.642.376 $ 3.127.440 $ 3.484.107 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 mar-20 Operating EBITDA Dividends

Consolidated adjusted EBITDA has grown over the last 10 years, demonstrating increased strength of GEB’s controlled assets Adjusted consolidated EBITDA LTM Mar-20

12

2020 SAM Sustainability Yearbook Included for the third consecutive year among the 15% of companies with the best ESG performance in the world Dow Jones Sustainability Index Included for the eighth consecutive year. Leader of the “gas utilities” sector in the emerging markets category

A Company Oriented Towards Sustainability

Energy for Peace (Colombia ) De-mining of 20.700 hectares with the Colombian Army and NGO The HALO Trust, to the benefit of 11 municipalities and 82 rural districts that have suffered from the armed conflict

We transform territories through shared value projects and social investment that create progress

Community gas diners (Peru) Installation of free gas connections to over 900 gas diners benefiting more than 63.000 people Tecnigas: Training for the Future (Peru) Training young people from underprivileged backgrounds as gas installation technicians, to facilitate their entry into the workforce Women’s economic empowerment (Guatemala) Training 450 indigenous women in traditional crafts and supporting the commercialization of their embroideries

Social awareness, protection of life and superior performance as attributes of our organizational culture

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09.08.2019 GEB acquired 100% of Grupo Dunas 22.08.2019 2Q 2019 Results GEB 05.09.2019 Cálidda issued bonds ~USD$100 mm 24.09.19 Syndicated Contugas loan refinancing USD$355 mm 23.10.2019 2nd dividends payment 07.11.2019 MSCI rebalancing 14.11.2019 3Q 2019 Results GEB 22/11/19 Argo acquisition process announced 12.12.2019 Astrid Álvarez is ratified as GEB's CEO 12.02.2020 MSCI rebalancing 05.03.2020 4Q 2019 Results GEB 09.03.2020 OPEC suspends production cuts 20.03.2020 FTSE rebalancing 25.03.2020 Argo acquisition closing 30.03.2020 GEB’s AGM 01.05.2020 OPEC begins production cut 08.05.2020 1st dividends payment 15.05.2020 Int’l Bond Issuance for USD$400 mm 26.05.2020 - 27.05.2020 1Q 2020 Results TGI & Cálidda / GEB 19.06.2020 FTSE rebalancing 25.06.2020 1st Tranche Local Bond Issue for COP$950.000 mm 01.07.2020 Juan Ricardo Ortega assumes as GEB's CEO

5.000.000.000 10.000.000.000 15.000.000.000 20.000.000.000 25.000.000.000 30.000.000.000 23/07/2019 23/09/2019 23/11/2019 23/01/2020 23/03/2020 23/05/2020 23/07/2020 800 1.100 1.400 1.700 2.000 2.300 2.600

Volume (COP) GEB CB Equity COLCAP

Security Issuer At national and international level, the group meets high information transparency and disclosure standards, according to regulations imposed by the Financial Superintendency of Colombia. The group has gained recognition within the Colombian Stock Exchange’s Investor Relations 2016 program

Track Record of Value Creation

GEB share price performance

Historical maximum COP$2.465 February 20, 2020 Average trading volume YTD 2020 COP$7.148 mm / USD$1,9 mm 3.107.663 shares $2.365 6,5% YTD

• Jul. 23, 2020

1.182

• 28,9% YTD
• Jul. 23, 2020

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Andrés Baracaldo VP Distribution, Transport & Transmission Álvaro Villasante VP Power Generation Felipe Castilla CFO Juan Ricardo Ortega CEO

Economist with over 30 years of experience in different entities of the public, private and multilateral sectors, member of different Boards

• f Directors and professor

Senior executive with over 30 years of experience in senior financial roles at global energy companies Senior executive with over 20 years of experience in Investment Banking and Business Development in Power and Utilities Senior executive with over 12 years of experience in Investment roles in Private Equity and Infrastructure in LATAM

Nestor Fagua General Counsel

Senior executive with over 30 years of experience in Laws, Compliance, Banking and Capital Markets

Liliana Pérez Legal Affairs Director Mónica Jimenez Chief Compliance Officer Camila Merizalde Head of Corporate Affairs

Senior executive with over 15 years of experience in corporate affairs Senior executive with 16 years

• f experience as compliance
• fficer in Insurance, Finance

and Utility sectors Senior executive with over 20 years of experience in Law

Rafael Díaz Auditor

Senior executive with over 25 years of experience in audits from multinationals and local companies

Ernesto Moreno Senior VP

Senior executive with over 20 years of experience leading the Power Transmission Business at Grupo Energía Bogotá

Experienced Management Team

Leadership

15

Partner in Cálidda

10 mm Clients / 2 Countries Market Cap: USD$2.074 mm Sources: Promigas Website

Partner in Brazil’s Power Transmission

Leading generation and transmission company in Brazil Market Cap: USD$12.758 mm Sources: Eletrobras Website

Partner in REP and Transmantaro

Presence in 13 countries / 62.038 Km of grid network Market Cap: USD$6.241 mm Sources: ISA Website

Partner in Emgesa & Codensa

Presence in 34 countries / 2,2 mm km of grid network Market Cap: USD$59.882 mm Sources: Enel Website

Partner in Vanti

(formerly Gas Natural)

Presence in over 30 countries / 115 years of operational experience Market Cap: USD$47.176 mm Sources: Brookfield Website

World-Class Strategic Partners

Partnerships

Partner in Argo

1st company in the world dedicated exclusively to the transport of electrical power and the operation of the electrical system Market Cap: EUR$9.160 mm Sources: Red Eléctrica de España Website

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Corporate Governance

General Shareholders’ Meeting GEB’s CEO Appointment Group Agreement and Corporate Policies

✓ Extension of terms for notice ✓ 10% for convoking the Extraordinary Shareholders’ Meeting ✓ Commitments of Bogotá Capital District (70%) in strategic decisions (corporate purpose change, asset divestitures more than 15% of market capitalization, statutory reforms derived from the Shareholders Agreement) ✓ Selection process along with a headhunter ✓ Ad-hoc committee designation for election of 3 candidates ✓ Board of Directors elects the CEO from the 3 candidates The Agreement is the instrument that regulates the interaction and general framework of behavior for the relationship between the Headquarters and its subsidiary companies, looking forward to facilitating accomplishment of corporate strategy and GEB’s goals: ✓ Operations policy with related parties guaranteeing equality for all shareholders ✓ Conflict of interest policy for its proper administration

Board of Directors

✓ Composition: 9 members (without deputies) ✓ Increase of independent members: at least 4 members, one of which is appointed by the 10 minority shareholders with the largest participation, but GEB currently has 7 ✓ Independence criteria: based on the “Corporate Governance Guide”

• f the New York Stock Exchange (NYSE)

✓ Adoption of Nomination, Succession and Compensation Policy of the Board of Directors ✓ Board of Directors’ qualified majority for the adoption of strategic decisions (election of the President, sale of assets and investments of more than 5% of the market capitalization, operations with related parties, modification of the PEC and regulations of the Board of Directors) (6 out of 7 present members) ✓ Board of Directors’ President and Vice President: Independent member ✓ Board of Directors’ committees presided by an independent member and integrated according to the profiles of the members ✓ Annual evaluation of the Board of Directors with the support of an independent third party

We have accomplished 92,6% of Country Code’s recommendations, which adopts the OECD measures in Corporate Governance Implementation of the Architectural Control Model, which is based on 3 defense lines - Ethical Channel managed by PwC

Strong Corporate Governance Standards

17

Investments Forecast

Section 3

18

CAPEX / Acquisitions

Revenue increase has remained stable due to an intense Capex plan Executed CAPEX / Acquisitions controlled companies

1Q 2020

USD$61,0 mm

Forecasted CAPEX / Acquisitions controlled companies USD$ million Investments controlled companies USD$2.325 million (2020 - 2024) Base case

Cálidda 41,8% Transmission 19,6% TGI 16,7% Trecsa & EEBIS 12,5% Contugas 5,2% Grupo Dunas 4,1% Distribution $ 667 Transportation and Transmission $ 1.508(1) Generation $ 150

(1) The acquisition of Argo for USD $ 330 mm is included, considering that it was executed at the end of 1Q 2020 and the forecast contemplates the years from 2020 to 2024

19

Note: The forecast do not include investment deferrals as a result of the current situation of COVID-19

Investments in controlled companies USD$2.325 million Base case

122 158 141 151 48 39 43 1 2 2 80 85 66 90 151 134 118 99 103 108

30 30 30 30 30

762 450 371 392 350 2020P 2021P 2022P 2023P 2024P

Transmission Trecsa and EEBIS TGI Cálidda Contugas Other Projects Dunas Group Argo 330

CAPEX / Acquisitions Forecast

USD$ Million

20

Colombia

• GEB has 7 projects in execution with an EAR(2) of USD$96,3 mm
• Expected start of operations:

✓ 2020: 6 projects – EAR of USD$74,9 mm ✓ 2022: 1 project – EAR of USD$21,5 mm

• Main projects by EAR are: Refuerzo Suroccidental, Colectora, Sogamoso

Norte and Tesalia

(1) Controlled companies (2) Expected annual revenue

Guatemala

• Trecsa develops Guatemala’s major power interconnection project (PET):

✓ 78,8% completion ✓ 19 out of 23 substations; 16 energized ✓ 586 Km out of 863 Km of transmission lines; 421 Km in operation

• EEBIS :

✓ Project Anillo Pacífico Sur: USD$62,7 mm (CAPEX) - Completed ✓ Project CEMPRO: USD$22 mm (EPC contract) ▪ Phase 1: 100% ▪ Phase 2: 93%

Investment Projects (1) – Power Transmission

21

Investment Projects – Natural Gas

Colombia

• TGI’s main projects in execution (CAPEX):

✓ Cusiana Phase IV: USD$92,3 mm (3Q 2020) ✓ Branches Reposition: USD$11,6 mm (2Q 2020)

Peru

• Cálidda’s main projects in execution (CAPEX):

✓ Polyethylene pipelines: USD$18 mm (368 Km in 1H 2020) – As of June 2020: 10.924 Km ✓ Residential clients connection: USD$4,1 mm (1.474 new users in 2Q 2020) - In 1H 2020: 35.296 clients ✓ Steel pipelines (high pressure): USD$2 mm (3 Km in 1H 2020) – As of June 2020: 613 Km ✓ City gate expansion: USD$6 mm for expanded capacity of 540 Mcfd (Given the current situation, it is expected to execute the project in 2H 2020)

22

Strong pipeline of opportunities to build power transmission lines and midstream gas pipelines within the regulated market GEB will bid for the LNG Regasification Project of the Pacific Actively seeking M&A opportunities in power transmission and distribution

• On March 25, 2020, in compliance with the share

purchase agreement signed on November 22, 2019, GEB and Red Eléctrica Internacional S.A.U., jointly and equally acquired 100% of Argo Energia Empreendimentos e Participações S.A.

• Argo is a platform made up of three concessions

within the Brazilian power transmission system (Ceará, Maranhao, Minas Gerais, Piauí and Rondonia states) and will have 1,470 km of transmission lines at 500 and 230 kV and 11 substations

Growth Strategy

GEB is on track to become the leading utilities company in LatAm, growing through inhouse initiatives and being an active player in M&A throughout the region

GEB acquired: Since August 7, 2019, GEB controls 100% of the companies of the Grupo Dunas, which meets the demand for electric power of 250.000 new customers in southern Peru (Ica, Huancavelica and Ayacucho) Likewise, GEB continues in the permanent search for investments that allow it to consolidate a growth platform in Peru in the energy and gas sectors

We are growing through strategic investments that transform and empower the communities we serve

23 Relevant asset in Brazil

► On November 22, 2019, Grupo Energía Bogotá S.A. E.S.P. (GEB) and the Spanish company

Red Eléctrica Internacional S.A.U. (REI), subsidiary of Grupo Red Eléctrica, reached an agreement with funds managed by Patria Investments and Sommerville Investments B.V., an indirect wholly-owned subsidiary of Temasek Holdings (Private) Limited, to jointly and equally acquire 100% of the common shares of Brazilian company Argo Energia Empreendimentos e Participações S.A. (“Argo”)

► Argo is a platform that holds 3 concessions in the Brazilian power transmission system

(States of Ceará, Maranhao, Minas Gerais, Piauí and Rondonia) and will account for 1.470 Km of 500 and 230 kV transmission lines and 11 substations, once the construction process

• f Argo II and Argo III finishes

► Argo’s most important project (Argo I) represents ~80% of contracted revenue and went

fully operational by the end of 2019

Area of influence and transaction structure

► This investment significantly contributes to the development of the Corporate Strategic

Plan of the company by consolidating GEB as a relevant player in the country that offers the largest growing opportunities in the power transmission sector in Latin America

► Argo’s management with a world-class partner allows for GEB to maintain growing dividend

perspectives in the framework of businesses with low-risk levels and a trustworthy regulatory and legal institutional environment

► Argo is a high-scale growing platform in Brazil that offers the possibility of participating in

public bidding processes (leiloes)

► Transaction value: BRL$3,550 million (GEB: 50% = BRL$1,775 million) ► Young company whose development and construction risk (greenfield) is already mitigated

Transaction rationale

Note: RAP: Annual allowed revenue or annual contracted revenue

Argo

Growth platform in power transmission in Brazil (GEB 50% - Red Eléctrica de España 50%)

End of concession

2046 2047 2047

Auction

Apr-16 Oct-16 Aug-17

Substations

5 1 5

Extension (Km)

1,150 N.A. 320

Argo I Argo II Argo III

. Substation

Power transmission line

Argo II Argo III

.

. .. ..

. .. .

Argo I

RAP Cycle 19/20 (BRL$ mm)

474,4 41,5 77,1

24

Capital Structure

Section 4

25

97% 94% 97% 98% 99% 98% 99% 85% 84% 76% 3% 6% 3% 2% 1% 2% 1% 15% 16% 24%

$ 1.737 $ 1.733 $ 2.218 $ 3.009 $ 2.803 $ 2.567 $ 2.946 $ 2.943 $ 3.314 $ 3.511

2011 2012 2013 2014 2015 2016 2017 2018 2019 mar-20

Debt Profile

EBITDA / Net financial expenses

(1) Reasonable debt limit (2) 2024, 2032, 2042 and 2047, corresponds to maturities of local bonds

Net debt/ EBITDA Consolidated debt composition Debt maturity profile March 2020(2)

USD$3.511 mm 2,8x 2,9x 3,4x 3,2x 3,8x 4,0x mar-19 jun-19 sep-19 dic-19 mar-20 7,2x 6,4x 6,1x 6,7x 7,1x 2,3x mar-19 jun-19 sep-19 dic-19 mar-20 352 8 67 320 1.192 45 885 101 415 46 80 2020 2021 2022 2023 2024 2025 2028 2029 2032 2042 2047

USD$ mm

USD$ COP$

26 International bond issue – May 15, 2020

• Amount: USD$400 mm
• Coupon rate: 4,875%
• Maturity: 15/05/2030
• Oversubscription: 11 times – 295 orders
• Use of proceeds: Investment plan

First tranche local bond issue (Series C7, C15 y E25) – June 25, 2020

• Amount : COP$ COP$949.999,96 mm (1)
• Maturity: C7 – 25/06/2027, C15 – 25/06/2035 y E25 – 25/06/2045
• Oversubscription: 2,15 times – 342 orders
• Use of proceeds: Refinancing of existing obligations

Davivienda external loan – March 2020

• Amount: USD$300 mm
• Interest rate: Libor 6M + 2,35%
• Amortization: 12-years bullet
• Use of proceeds: Investment projects

Covid liquidity strategy – April 2020

• Amount: COP$403.854 mm
• 1-year local commercial bank loans
• Rates indexed to IBR + Spread

Interest rate hedging – May 27, 2020

• Interest Rate Swap on the interest payment of GEB’s syndicated

loan, at a rate of 2,056% including the fixed margin (USD$500 mm)

(1) Calculated using the UVR value published on the closing date June 25, 2020

2020 Financing Program

BBB- / Negative

26/03/2020

BBB International - AAA local /Stable

03/04/2020

Baa2 / Stable

17/10/2019

GEB’s Corporate Credit Ratings

27 Other financing (Capital markets and/or banks)

• Use of proceeds:

✓Investment projects ✓Repayment of short-term liabilities ✓Increase the Company's maturity profile ✓Match better liabilities’ composition by currency (COP$ - USD$) to cash flow generation Refinancing

• From a current amount of USD$48 mm to USD$53 mm

✓Closing date: March 2020 ✓Increase of maturity in one year (2025) ✓Change from variable rate to fixed rate of 5,40% ✓GEB corporate guaranteed loan Refinancing

• Up to: USD$110 mm
• In the process of structuring
• GEB corporate guaranteed loan

2020 Financing Program

BBB- / Negative

26/03/2020

BBB International - AAA local /Stable

03/04/2020

Baa2 / Stable

17/10/2019

GEB’s Corporate Credit Ratings

28

Annexes

Section 5

29

*Divest up to 20% of GEB’s Common shares owned by the District, authorized by Bogotá Council (November 2016) Note: In accordance with the agreement 656 of 2016 of the District Council of Bogota, the District will execute a Democratization process. The information herein countained is

• nly for information and illustrative purposes. It is not intended to be an exact estimation, nor is it a source of legal, investment or financial advice information on any matter

1 Due diligence, valuation and structuring process, February 2017 - 2nd Semester 2017 City Government Council endorses the Disposal Program and sets minimum price December 20th, 2017 2 Issuance of Democratization decree and program December 20th, 2017 3 4 First phase Solidarity sector

• Dec. 26th – Feb 26th,2018

Second phase General public July 5th – July 18th, 2018 Operation completion and closure July 31st, 2018 5 6

20/12/2017

Management Agreement SDH-EEB Organize and manage the Democratization* process February 2017 In process Completed

Offer period Notice of

• ffer

Roadshow Offer period Notice of

• ffer

Roadshow

Law 226 of 1995

Democratization Results: (First and second phase)

• District of Bogotá received COP$1.963.020 million
• This amount represents 10,6% of GEB’s common

shares 7 District of Bogotá has authorization to sell the remaining 9,4%. The

• peration should be

considered by the next local government

Democratization*

30

S.A ESP.

Holdco

EEB Perú HoldingsLtd

Trecsa

Gebbras

Contugas

96,11% ofGEB 3,89% of EDEMTEC 99,9% ofGEB 0,1% of MARCOSDIEZ 68,58% ofGEB 31,42% of TGI TGI International TGI Regasificadora SAS 100% ofTGI 100% ofGEB 60% of EEBPERÚ HOLDINGS LTD 40% ofPromigas

AFFILIATES SUBSIDIARIES

TGI

99,99% ofGEB 0,01% Other COLOMBIA GUATEMALA EEB Gas SAS 100% ofGEB COLOMBIA COLOMBIA CAIMANISLANDS BRAZIL PERU BRAZIL PERU

100% of GEB BERMUDA

EnergyRe

99,999% of GEB GUATEMALA 0,001% EEB GAS SAS

AFFILIATES Transmission Branch

Assets and Investments

100% of GEB PERÚ 40% ofGEB 40% ofGEB 16,23% ofGEB 15,24% of EEB GASSAS 25% of GEB 51,51% ofGEB 51,32% ofGEB

Non-controlled companies

50% ofGEB

31

Grupo Dunas

Peruvian portfolio comprised of 3 companies engaged in power distribution, O&M services and sector-related projects development ElectroDunas:

• Ica, Huancavelica and Ayacucho

(5.402 Km 2, 11 provinces)

• 245.628 clients (1.066 GWh of sold

power)

• High receivables collection level

(close to 99%)

• Power loss of 10,7%
• Local AA+ credit rating (Fitch)
• #1 in terms of service quality (SAIDI

and SAIFI) Peru Power Company:

• Incorporated in 2015. Co-generation

projects development services, peak shaving and power generation

• PPC operates 2 gas thermal generation

plants of 19 MW each

• Long-term contracts; ElectroDunas is

its main client Cantalloc:

• Incorporated in 2016
• Technical services (power meters

checking, maintenance, reconnections, projects and works execution)

Transaction Rationale for GEB

• August 7, 2019: BVL granted GEB 100% of Dunas Energía

S.A.A. (DESAA) shares

• New business segment in Peru (power distribution and

commercialization)

• Platform for organic and inorganic growth in Peru
• Transaction amount: USD$250 million
• Alignment with GEB’s strategy and investment highlights:

✓ Predictable and stable perspective on dividends ✓ Regulated, stable and predictable market ✓ Trustworthy regulatory framework ✓ Outstanding operational performance ✓ Perpetual concession ✓ Highly experienced management

• Potential synergies with Contugas

100% 100%

Dunas Energía S.A.A. PPC Perú Holdings S.R.L. Cantalloc Perú Holdings S.R.L.

99.97% 100% 100% 100%

Transaction perimeter

Other shareholders

0.03%

32

Status of pending divestitures programs: Phase 2 - Promigas

• The corporate management has not

authorized yet the 2nd phase directed to the general public

• Percentage for disposing of 15,24%

(172.916.643 shares) Banco Popular

• Percentage for disposing of 0,1136%

(8.772.703 shares)

2016 2017 2018

2019

Jun.12.17 – Aug.14.17 Phase 1 Solidarity Sector Acceptance period Dec.13.16 Agreement 656 of 2016 Authorization for the divestitures of the shareholding in Promigas, ISA, Banco Popular & Nutresa Sep.12.17 Phase 1 Promigas Allocation of shares Sep.09.17 Start Phase 2 Divestiture processes to general public: ISA, Banco Popular & Nutresa Sep.19.17 Phase 2 Nutresa Allocation of shares Dec.21.17 / Dec.28.17 Phase 2 ISA Allocation of shares

Divestitures

33

Infrastructure

Colombia

34

Cartagena Refinery Barrancabermeja Refinery

Bucaramanga Bogotá Neiva Cali Medellín

2.23 tcf

0,49 tcf

Producers In the east: Ecopetrol Equion Alto Valle del Magdalena Magdalena Medio Bajo Magdalena Producers from the north: Chevron Ecopetrol

0,62 tcf

Guajira

Cusiana-Cupiagua

References TGI’s pipelines Natural Gas Reserves City Field Refinery Gas pipelines from third parties

Reserves in other regions 0.42 tcf

Total reserves 3.89 tcf*

Pacifc Ocean Caribean Sea

VENEZUELA

(1) It has access to three of the main gas production fields: Guajira and Cusiana-Cupiagua * Total reservesin 2018 added up to 3,78 tcf. Disaggregation by department is not available. Source: Unidad de Planeación Minero Energética - Agencia Nacional de Hidrocarburos

Infrastructure

Colombia

36

Lima - Callao

Infrastructure

Peru

37

Ica

Infrastructure

Peru

38

Infrastructure

Guatemala

39

Energy Demand (GWh)

Sustained Growth of Energy Demand in Colombia, Peru and Guatemala

8.929 9.537 10.490 10.887 11.625 12.381 13.348 13.369 11.078 2012 2013 2014 2015 2016 2017 2018 2019 2020* 37.321 39.669 41.796 44.485 48.288 48.993 50.817 52.889 46.541 2012 2013 2014 2015 2016 2017 2018 2019 2020* 59.370 60.890 62.812 65.256 66.319 66.893 69.126 71.925 69.466 2012 2013 2014 2015 2016 2017 2018 2019 2020*

Source: XM and UPME Source : Coes’a anual evaluation Source: Administrator of the Wholesale Market of Guatemala *Note: Projected

Peru Guatemala Colombia

40

Natural Gas Demand (GBTUD)

Strong Footprint in LatAm Natural Gas Market

GEB is well positioned to benefit from the expected growth in the natural gas sector via its investments in TGI, Gas Natural, Cálidda & Contugas

877 980 1.062 1.049 1.020 937 967 1.026 1.038 2012 2013 2014 2015 2016 2017 2018 2019 2020*

Source: UPME and BMC

1.143 1.180 1.250 1.209 1.355 1.252 1.229 1.299 1.038 2012 2013 2014 2015 2016 2017 2018 2019 2020*

Source: Ministry of Energy and Mining *Note: Average until April 2020

Controlled production

• f natural gas

(GPCD) Peru Colombia

41

$1.051.880 $1.321.792 1Q 2019 1Q 2020 Natural Gas Distribution 47,9% Natural Gas Transportation 32,3% Power Distribution 12,2% Power Transmission 7,6%

Operational Performance

Revenue from operational activities Revenue by business lines | 1Q 2020 1Q 2019 Vs. 1Q 2020 +25,7% Natural gas distribution +15,9%; +COP$87.066 mm:

• Cálidda: Network expansion, higher invoiced volume and revenue

growth from customer financing and other services. Exchange rate effect on consolidation. Natural gas transportation +15,4%; +COP$57.142 mm:

• TGI: Increase in fixed capacity charges in USD$ and net AO&M,

decrease in variable charges. Revenue from the Cusiana - Vasconia Phase 4 expansion project contracting. Power transmission +18,7%; +COP$25.376 mm:

• GEB: Indexation of use assets. Total revenue of La Loma and Altamira

STR Expansion. New acquisitions: Active Use of Betania Substation and UPME Tuluní Tender Call. Positive effect of the TRM on UPME projects indexed to USD$. Power distribution(1) +100,0%; +COP$100.328 mm:

• Electrodunas: Figures recorded since 10/08/2019 and correspond to

power distribution, complementary services and participation in the generators' commercial margins.

COP$1.321.792 mm

(1) For revenue, expenses and costs, in power distribution, the figures for Dunas Energía, PPC Perú Holdings S.R.L and Cantalloc Perú Holdings S.R.L are included

COP$ Million

+25,7% YoY

42

$546.105 $712.044 1Q 2019 1Q 2020 Natural Gas Distribution 63,9% Natural Gas Transportation 20,3% Power Distribution 7,3% Power Transmission 8,5%

Costs of operational activities 1Q 2019 Vs. 1Q 2020 +%30,4 Natural gas distribution +20,0%; +COP$75.864 mm:

• Cálidda: Network expansion and increase in the number of internal
• installations. Increase in depreciations and amortizations. Exchange

rate effect on consolidation.

• Contugas: Operation costs in USD$822.000.

Natural gas transportation +21,3%; +COP$25.370 mm:

• TGI: Increase in depreciations and amortizations. Increase in

maintenance and repairments. Higher costs of goods and services (fuel gas for compressors). Growth in taxes, fees and contributions. Power transmission +8,6%; +COP$4.077 mm:

• GEB Transmission: Increase in maintenance (existing projects and

new infrastructure) and depreciations (Project capitalization: Altamira, Cartagena – Bolívar, Rio Córdoba and Armenia). Increase in insurance premiums priced in USD$. Power distribution +100,0%; +COP$60.628 mm:

• Electrodunas: Figures recorded since 10/08/2019 and include the

purchase of energy and gas, depreciation, amortization, repairment, maintenance and consumption of spare parts. Costs by business lines | 1Q 2020

COP$712.044 mm +30,4% YoY

Operational Performance

COP$ Million

43

$1.410.921 $1.767.587 1Q 2019 1Q 2020 Controlled 37,4% Associated 62,6%

Consolidated Financial Results

EBITDA controlled and associated companies | 1Q 2020 EBITDA

COP$1.767.587 mm +25,3% YoY

EBITDA by business line | 1Q 2020 EBITDA by segment| 1Q 2020

COP $1.767.587 mm Power Transmission 17,9% Power Distribution 20,2% Natural Gas Transportation 24,0% Natural Gas Distribution 12,2% Power Generation 25,6% COP $1.767.587 mm Transportation and Transmission 41,9% Distribution 32,4% Generation 25,6%

43

COP$ Million

44

Consolidated Financial Results

COP$ Million

$460.362 $638.138 1Q 2019 1Q 2020 $378.754 $428.977 1Q 2019 1Q 2020

Operating Income Net income controlling interest

+38,6% YoY +13,3% YoY

Operating Income Growth of 13,3% in 1Q 2020, as a result of:

• Higher gross profit (+20,6%) with a margin that closed at 46,1%,

associated with positive revenue and cost dynamics

• Partially offset by effects at the administrative expenses level:

✓Dunas Group accounting ✓Increase in taxes and charges ✓Higher provisions, amortizations and depreciations ✓Conversion effect from foreign currency to COP$ Net income Growth of controlling interest of 38,6% in 1Q 2020, as a result of the positive operational performance and the following variations:

• Financial expenses +COP$28.628 mm (+21,1%)
• Financial revenue +COP$7.480 mm (+32,1%)
• Equity participation method +COP$71.341 mm (+22,2%)
• Expense

in foreign exchange difference +COP$111.006 mm (+8.645,3%)

• Current tax expense +COP$13.221 (+15,2%)
• Deferred tax revenue +COP$203.314 mm (+1.450,4%)

45

Equity Participation Method

COP$ Million Equity participation method

1Q 2019 – COP$321.786 mm 1Q 2020 – COP$393.127 mm +22,2% YoY

*Consolidated through EEB GAS S.AS.

$ 153.558 $ 85.535 $ 26.423 $ 19.602 $ 16.185 $ 14.998 $ 2.258 $ 3.227 $ 190.597 $ 102.466 $ 40.626 $ 19.108 $ 15.403 $ 16.563 $ 6.020 $ 2.344 Emgesa Codensa Promigas CTM Vanti REP Joint Ventures EMSA 1Q 2019 1Q 2020

+24,1%

+19,8% +53,8%

*

46

www.geb.com.co www.grupoenergiabogota.com/en/investors

Investor Relations

Felipe Castilla

CFO GEB ir@geb.com.co +57 (1) 326 8000

Juan Ricardo Ortega

CEO GEB ir@geb.com.co +57 (1) 326 8000

Valeria Marconi

Investor Relations Manager +57 (1) 326 8000 Ext 1536 vmarconi@geb.com.co

Sandra Jiménez

Investor Relations Advisor +57 (1) 326 8000 Ext 1827 sjimenezv@geb.com.co