geb corporate presentation + exhibit 1 q 14 v final

Empresa de Energía de Bogotá - EEB

A Regional Leader in the Energy Sector

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

EEB Overview Transportation and distribution of energy with involvement in other areas

in the energy sector

Focus on natural monopolies

Growth in controlled subsidiaries

Sound regulatory framework

Ample access to capital markets

Leaders in every market

Electricity transmission

Market share (%)

(Km of 220-138 kV lines )


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%


Project ongoing

(850 Km L/T and 24 S/E)

# 1 Guatemala

4

Focus on natural monopolies 5

Strong Presence in Relevant Countries

Natural Gas

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

333

417 484

528

950

2009 2010 2011 2012 2015E

Natural Gas Demand - Perú - MMCFD

6

26.0

23.1 21.5 21.5

2009 2010 2011 2012

Natural Gas Reserves - Perú - Tcf

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 59,36766,044

2009 2010 2011 2012 2015E

Electricity Demand - Colombia - GWh

27,00332,314

36,77940,940

52,312

2009 2010 2011 2012 2015E

Electricity Demand - Perú - GWh

7

Stable and Growing Income*

* Total of Operating Revenues per company

Predictability and stability in regulated revenues. 81% of revenues comes from regulated business.

8

422.4 495.7

605.9

871.6

1,076.2 1,114.4

323.5

2008 2009 2010 2011 2012 2013 2014 1Q

Natural Gas Distribution - USD Million

GAS NATURAL CÁLIDDA TOTAL

1,317.7

1,584.2 1,730.3 1,807.4

2,092.1 1,972.1

484.3

2008 2009 2010 2011 2012 2013 2014 1Q

Electricity Distribution - USD Million

CODENSA DECSA EMSA TOTAL

136.2 152.4 162.1 181.5

207.3

288.9

69.1

2008 2009 2010 2011 2012 2013 2014 1Q

Electricity Transmission - USD Million

REP CTM EEB Transmisión TOTAL

279.6

365.2 401.9

439.1 536.4

578.1

159.8

2008 2009 2010 2011 2012 2013 2014 1Q

Natural GasTransportation - USD Million

TGI PROMIGAS TOTAL

Growth through controlled subsidiaries 9

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.

10

Ambitious projects under execution

11

Consolidating the Strategy

CAPEX Executed 2013: USD 385.7 mm; 1Q 14: USD 74.49 mm CAPEX Executed: 2013 USD 661.4 mm ; 1Q 14: USD 176.9 mm

Natural Gas Transportation

• CAPEX Exec. 2013: USD 35.1 mm

• CAPEX Exec. 1Q 14: USD 8.75 mm

• Construction: Sabana Station: 48.8%

• Planning: Regional Syst.

• Full operation: 4Q 14

Electricity Transmission

• CAPEX Exec 2013: USD 32.4 mm

• CAPEX Exec 1Q 14: USD 8.88 mm

• Total Investment: USD 308 mm

• Under Construction 1Q 14: • Armenia – 54.9%

• Tesalia – 77%

• Chivor II Norte – 22%

• SVC Tunal – 38.5%

Engineering and related services


• CAPEX Exec. 1Q 14 : USD 0.51 mm

• Sugarmills Investment: USD 44 mm

• Under construction 1Q 14: 34%

• Full operation 2014-15




• Total Investment: USD 376 mm

• Started operation (partially): 4Q13

• Under construction:1Q 14: 14.67%.

• Delivered 2015

Natural Gas Distribution



• Total investment: USD 500 mm

• By the end of 2016 it is expected to

have 455,000 customers connected.

Natural Gas Transportation and

Distribution




• Under construction: 1Q 14: 92%.

• Full operation 2Q 14

Electricity Generation


• CAPEX Exec.1Q 14: USD 102.12 mm

• Quimbo Project (400 MW)

• Total investment: USD 1,093 mm

• Exec 2013: USD 279 mm

• Accum. Exec: USD 564.8 mm

• Execution 1Q-14: 64.8%

Electricity Distribution



• Projects executed:

• New and existing demand

• Quality service and continuity

• Control operational risk




• Extensions and new concessions;

2013 - 2014




• Extensions and new concessions;

2013 - 2014

Natural Gas Transportation and

Distribution




• Liquefaction Plant: Invest. USD 34

mm

• Pipeline Mamonal – Sincelejo: USD

70 mm

Controlled Subsidiaries Non-Controlled Subsidiaries

Natural Gas Distribution:

CAPEX Exec. 2013: USD 15.5 mm

CAPEX Exec. 1Q 14: USD 1.66 mm

Electricity Transmission:

CAPEX Exec. 2013: USD 31.8 mm

CAPEX Exec. 1Q 14: USD 4.1 mm

12

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

Composition of Investments

M&A: 67%

Capex: 33%

13

Access to Capital Markets

14

Access to Capital Markets

GEB Transactions

USD Million

15

EEB Share Performance

Ticker EEB:CB

As of Mar 31st, 2014 EEB’ market capitalization was USD 7.5 Billion

Trading volume tripled after the Equity Offering Nov 2011.

The stock is part of COLCAP, COL20, and COLEQTY

Average Target Price As of 1Q 2014: USD 0.92 COP 1,805

16

EEB Share Performance 1Q 2013 – 1Q 2014

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.

0.025

17

97.7

353.8

571.0

157.1

390.6

437.8

382.1

91.8 142.6 368.0 109.0 228.3 306.5 230.9

94%

40%

64% 69%

58%

70% 62%

141%

40%

64%

105%

58%

70% 68%

0

100

200

300

400

500

600

0%

20%

40%

60%

80%

100%

120%

140%

160%

2008 2009 2010 2011 2012 2013 Avg 2008-2013

Evolution Dividend Payout Ratio (USD Mllion)

Net Profit Dividends Dividend payout on last year profit Dividend payout + Including realeased reserves

0.58

0.91

0.60

0.72 0.80

0.72

6.9%

0.0%

3.0% 3.5%

4.2% 3.5%

0.000.100.200.300.400.500.600.700.800.901.00

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

2010 2011 2012 2013 1Q 14 Avg 2008-2013

Dividend Yield Evolution

Closing Share price at the end of the year USD Dividend Yield

Financial Highlights 18

Consolidated Financial Results

19

515.6

944.0

557.0

723.5

921.7

567.5

2009 2010 2011 2012 2013 1Q 2014

Consolidated EBITDA (USD Million)

353.8

571.0

157.1

390.6

437.8 434.2

2009 2010 2011 2012 2013 1Q 2014

Net Income (USD Million)

455.3 487.2

731.8

896.4

1,016.4

275.9

2009 2010 2011 2012 2013 1Q 2014

Operating Revenues (USD Million)

203.6

140.2

283.5

315.9 315.5

110.3

2009 2010 2011 2012 2013 1Q 2014

Operating Profit (USD Million)

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

[email protected]

Antonio Angarita

Investor Relations Officer GEB

+57 (1) 3268000 - Ext 1546

[email protected]

Rafael Andres Salamanca

Investor Relations Advisor GEB

+57 (1) 3268000 – Ext 1675

[email protected]

Felipe Castilla Canales

Chief Financial Officer - GEB

+57 (1) 3268000 – Ext 1501

[email protected]

20

http://www.tgi.com.co/





ANNEXES 21

New parent company

Transformation

Private and

vertically

integrated

company serving

the market of

Bogotá.

EEB acquires 40% of REP’s (2002) and CTM

(2006) stocks.

Contugas is constituted in Peru (2008)

Through DECSA, EEB acquires EEC (2009)

TRECSA is constituted in Guatemala (2009)

Capitalization of Citi Venture Capital International

CVCI in TGI for USD 400 million (2010) for expansion

Acquired control of Calidda in Peru and a minority

shareholding in Promigas Colombia (2011).

Foundation

Growth Bogota district acquires

100% of the company

Capitalization Endesa: separation of

generation (Emgesa) and distribution

(Codensa) businesses

Public-private model

EEB acquires Transcogas (2005) and

Ecogas (2007). Today, the two

companies are merged.

To acquire Ecogas, EEB and TGI

issue bonds in international markets

by USD1,360 million (2007)

Annex: Over than 100 year of energy

2002 2006 1997 1959 1896 2012-2014 2009-2011

Internationalization

Diversification

22

EEBIS is constituted in

Guatemala (2011) and in Perú

(2013).

EEB continues its expansion in

Transmission Colombia

(UPME Projects): 2012:

Armenia/Alferéz/Tesalia; 2013:

Norte, Chivor II and SVC

Tunal; 2014: Second

Transmission Line Bolívar -

Cartagena 220 kV and

Sogamoso - Norte – Nueva

Esperanza 500 Kv.

EEB acquired 31.92% of TGI

(2014) owned by The Rohatyn

Group, (formerly CVCI)

amounting USD 880 million.

Expansion

2002 2006 1997 1959 1896 2012-2014 2009-2011

Annex: Shareholders and BoD

23

SHAREHOLDERS SHARES (Mill)

BOGOTÁ D.C 7,003

ECOPETROL 631

CORFICOLOMBIANA 327

AFPs 874

RETAIL INVESTORS 346

BOARD OF DIRECTORS

Gustavo Petro Urrego

Major of Bogotá

Fernando Arbeláez Bolaños

Economist

Guillermo Perry Rubio Former Finance Minister and

former Mining and Energy Minister

Alberto José Merlano Alcocer

EAAB´s CEO

Saúl Kattan Cohen

ETB’s CEO

German Corredor Avella

Former UPME’s Director

Mauricio Cabrera Galvis Consultant Economics &

Investment Banker

Claudia Lucia Castellanos Marketing VP at ECOPETROL

Mauricio Cárdenas Müller Advisor Luis Carlos Sarmiento

Foundation

*Shareholding as of March 31st, 2014

Independent Members

24

Shareholder meeting

Maximum steering mechanism

Corporate Governance Committee

Three members of B.D, at least one

must be independent

Board of Directors

Dictate, control and evaluate the

business policies.

Nine members, three independent

External controls

Tax audit,

External audit,

Specialized audits,

Comptroller of Bogotá,

President

Elected for a term of 4 years and may be reelected and removed freely

Global responsibility

Committee

Approval of material Affairs

within the framework of sustainable

management

Audit Committee

Consisting of the three independent

members of the B.D.

Presidency

Committee

Policies, guidelines

and decisions

related to

administrative,

economic and

financial

management

Hiring Committee

Analysis of

contractual

processes and

recommendations

to the Presidency

Committee

Annex: Corporate Governance and Transparency

Colombia

Perú

Guatemala

Peruvian Government restructured

electricity sector in 1992 and privatized

some of the most important electrical

companies

Transmission system is run by private

companies and their remuneration is

guaranteed through concession contracts

The rates for the transport and distribution

of natural gas are set according to the

conditions of the concession for an initial

period and then periodically determined

based on VNR of the investments made

and projected

Independent regulators: OSINERGMIN,

COES, INDECOPI, MINAM-OEFA

Annex: Sound Regulatory Framework

Regulatory based on the General Law of electricity of

1996 framework

Regulation example to the rest of Central America due to

their flexibility and approach with the investor

The MEM is responsible for energy policy and the CNEE

is responsible for regulating the subelectricity sector

Regulatory framework in force since 1994

Regulation (CREG), planning (UPME) and

control and surveillance (SSP and SFC)

independent agencies.

Laws 142 and 143 of the year 1994, awarded

to the CREG functions of regulation of

monopolies in the public service when

competition is not possible, and in all other

cases, to promote competition between those

who provide public services

CREG implemented objective methodology

for: i) meet the demand under the criteria of

economic and financial viability and ii) ensure

an efficient, safe and reliable operation

25

Annex: Outstanding Bonds

USD 749 mm

Local AAA

Moody’s Baa3, stable

S&P BB+; stable

Fitch BBB-; stable,

TGI – USD 750 mm

Moody’s Baa3; stable

S&P BBB-; stable

Fitch BBB-; stable

EMGESA – USD 1655 mm

Local AAA

S&P BBB-; stable

Fitch BBB-; stable

Promigas – USD 487 mm

Local AAA

ISAGEN – USD 460 mm

Local AA+

External BB+

ISA – USD 596 mm

Local AAA

Total USD 6,293 mm

Cálidda – USD 320 mm

Moody´s Baa3; stable

S&P BBB-;stable

Fitch BBB-; stable

Natural Gas – USD 270 MM

Local AAA

Codensa – USD 556 mm

Local AAA

Fitch AAA; stable

CTM Perú – USD 450 mm

Local AAA

Controlled Subsidiaries Non-Controlled Subsidiaries

26

Annex: 81% of revenues comes from regulated

business

ENFICC: Reliability - Regulated Entry Fee.

13% Of revenues from Emgesa are derived from the charge

for reliability (ENFICC), an income secured by the regulation

Transmission Generation Distribution Distribution

Regulated 81%

Non-regulated

16.5%

ENFICC * 2.5%

Electricity

Transport

Natural Gas

Spot 30%

Bilateral Contracts

70%

Predictability and

stability in regulated

revenues

27

Annex: Acquisition and expansion projects

Transaction

The second line of interconnection with Ecuador entered into operation in 2007: 387 Km in length (COP 152,000 mm)

In 2012 and 2014, 4 projects were awarded to EEB valued at 309 mm, which consists in building transmission assets including; SVC

Tunal (SVC Tunal CREG/UPME), Second Transmission Line Bolívar - Cartagena 220 kV, Sogamoso - Norte – Nueva Esperanza project,

as well as Armenia, Alferez, Tesalia and Chivor II Norte.

EEB acquires 31.92% of Transportadora de Gas Internacional (TGI) owned by The Rohatyn Group, formerly Citi Venture Capital

International (CVCI) amounting USD 880 million.

Results

In 2007 EEB acquired the assets of Ecogas for USD 1.4 billion. TGI was established to manage those assets with an equity of close to

USD 340 mm (98% of EEB), the rest of the operation was financed with debt.

In 2010 CVCI capitalizes on TGI and acquires the 31.9% of the equity for USD 400 mm. However, on April 4, 2014, EEB exercised its

right to buy and acquired 99.97% of TGI amounting USD 880 million.

The three expansion projects (Guajira, Cusiana phase I and II) are already in operation in increased the carrying capacity by 53%.

EEB (51%) and Codensa (49%) through Decsa, acquired 82 percent of EEC in 2009

Began a process of restructuring of the company which has made it possible to double the EBITDA margin

As of 1Q 14 Cálidda´s client base has reached 186,000 customers. A new record high in monthly connections was achieved in March,

with 8,876 new clients (vs. 3,663 connections in March 2013) and hopes to reach a total of 455,000 by 2016 and 1.5 million by 2020.

100%

68%

51%

60%

It is the most important energy infrastructure of Guatemala project: approx. 850 km of lines that cover the entire country

Expected to be 47% market share (line km) by 2014. 98%

75%

2009: Construction and operation of a network of transport and distribution for natural gas in order to meet the demand of South Peru

Area of influence will be of highest growth in natural gas demand in the coming years due to the steel, petrochemicals and agro-

industrial projects that are being developed in the region

3Q 2013: 86% Advance in the implementation of the project. To be delivered 1Q 2014.

On April 2014, CONTUGAS, inaugurated the ICA Regional Pipeline, Southern del Perú contributing to the massification of natural gas in

Peru. EEB’s investment reached USD 345 million. 28

29

61 million clients

40 Countries

USD 94,418 mm sales

20 million clients

25 Countries

USD 24,944 mm sales

2 million clients

4 Countries

USD 127 mm sales

9 Countries

USD 2,465 sales

Annex: World Class Partner

30

Annex: Relevant Macroeconomic Indicators

*Inflation YTD as of March 31st 2014

Sources: Banco de la República, DANE, Banco de Guatemala, INEI

5.5% 4.50%

3.60%

6.00% 4.70%

3.90%

Peru Colombia Guatemala

GDP Forecast Growth 2014

2013 2014

geb corporate presentation + exhibit 1 q 14 v final

Investor Relations

enatural gas demand

eelectricity demand

distribution of energy

gas natural clidda total1

bogot eeb

relevant countries electricity

eeb overview transportation

natural monopolies growth