TGI presentation conference call 1Q 2014 vf

1. May 2014
Strictly Private and Confidential
TGI 1Q 2014 results

2. 2
Table of contents
1. TGI Overview and History
2. Key updates
3. Financial and operating highlights
4. Questions and Answers
Appendix
1. Economic, industry and regulatory environment
2. Shareholders and management team
3. EEB Overview

3. 1. Overview and History

4. 4
Overview
Stable and growing Colombian economy with sound investment environment
Constructive and stable regulatory framework
Largest natural gas pipeline system in Colombia
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
Natural monopoly in a regulated environment
Strategically located pipeline network

5. Company history
TGI history
Pipeline networkHighlights
 Owns ~61% of the national pipeline network (3,957
km) and transports 46% 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 Piedemonte Llanero, among
others)
− Has access to the two main production regions, La
Guajira and Cusiana/Cupiagua
 25% interest in Contugas (Peru)
− 30-year concession for natural gas transportation
and distribution
 TGI was created as a result of the privatization of Ecogás and has experienced remarkable growth since then, under
the leadership of its controlling shareholders, EEB and CVCI
 Creation of Ecogas
1997
2005
 Start of Ecogas
Privatization
Process
2006
 Ecogas assets
awarded to EEB
 Creation of TGI
 Inaugural bond issuance
 Transfer of first
BOMT pipeline
(GBS)
 Pipelines
exchange with
Promigas
 CVCI
capitalization
 Transfer of
second BOMT
pipeline
(Centragas)
 Cusiana
expansion phase
I: start of
operations
 Refinancing of
subordinated debt
with EEB
2008
 TGI takes over the O&M
of owned pipelines
 Refinancing of
bonds issued in
2007
 Cusiana
expansion
phase II: start of
operations
 TGI takes over
the O&M of
compressor
stations
 Awarded
investment
grade rating by
Moody’s and
Fitch
2010
 Awarded
investment grade
rating by S&P
 Headquarters
relocation from
Bucaramanga to
Bogotá
 Redesign of
organizational
structure
2012
2013
2007
2009
2011
2014
 EEB announces
agreement to
acquire 31.92%
stake in TGI
from TRG
(formerly CVCI)
Cartagena
Refinery
Barrancabermeja
Refinery Bucaramanga
Bogota
Neiva
Cali
Medellin
2.99 tcf
0.02 tcf
2.11 tcf
Eastern
Producers:
Ecopetrol
Equion
Upper Magdalena Valley
Lower and Middle
Magdalena Valley
Northern
Producers:
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.

6. 2. Key Updates

7. 7
Dividend Distribution
Key updates
• On March 31st, TGI´s Shareholders Meeting approved its first dividend
payment since beginning operations.
• The approved dividend is equal to the 100% of 2013 net income (COP
130,067 MM - approx. USD $ 67.5 MM)
• The dividend payment dates were set at April 24 and May 26, 2014
TGI´ acquisition
• On December 11th 2013, EEB’s Board of Directors authorized to exercise
its Right of First Offer (ROFO) under the Shareholder’s Agreement for the
acquisition of a 31.92% stake in TGI, after the end of the lock-up period (3
years). Offer was submitted on March 25th 2014
• The offer, for a value of USD 880 million, was accepted by The Rohatyn
Group (formerly CVCI) on April 3rd 2014.
• Closing is expected to take place within 90 days after this date.
• Rating Agencies have reviewed the transaction and affirmed TGI´s
ratings.

8. 8
Expansion Projects
Key updates
• The Sabana Compression Station expansion project is currently under
construction and is expected to be operational in August 2014
• Ecopetrol has declined to continue pursuing the Cusiana – Apiay – San
Fernando expansion project
• TGI is considering further expansions to its domestic infrastructure
• To this effect, on March 4 2014 TGI held a meeting with its most important
customers to present the following prospective expansion projects:
 Cusiana Phase III – 20 mmcfd capacity increase, estimated cost USD 33.5 MM
 Ballena - Barranca Bidirectionality – 45 mmcfd capacity, estimated cost USD 7
MM
 Cusiana – Apiay – 70 mmcfd capacity increase, estimated cost USD 215 MM
 Mariquita – Gualanday – 12.6 mmcfd capacity increase, estimated cost USD
90MM
• After the meeting, TGI formally requested proposals from shippers
interested in signing long term contracts for the upcoming expansions
• Once proposals are received, TGI will evaluate the financial viability of the
projects and will decide which projects to pursue

9. 9
Hedge Restructuring
Key updates
• During the first quarter of 2014, TGI executed synthetic unwinds to cap losses
related with 3 of 4 cross-currency swaps booked in 2009
• These swaps had a negative MTM of USD $ 114.3 MM as of December 2013
• TGI took advantage of the depreciation of the COP that occurred on the first 3
months of 2014
(79)
(200)
(180)
(160)
(140)
(120)
(100)
(80)
(60)
(40)
(20)
0
FX RATE

10. 3. Financial and operating highlights

11. 11
Solid operational performance
(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.
Source: Company information.
Network length
(km)
Capacity
(mmscfd)
Firm Contracted Capacity(1)
(mmscfd)
Transported Volume Gas Losses Load factor
(mmscfd) (%) (%)
3,702
3,529
3,774 3,774
3,957 3,957 3,957
2008 2009 2010 2011 2012 2013 2014
1Q
478 478
548
618
730 730 730
2008 2009 2010 2011 2012 2013 2014
1Q
427 437
485
560
604
628 645.8
90% 92% 90% 92%
85% 88% 91%
2008 2009 2010 2011 2012 2013 2014
1Q
371
396
422 420 422
454 469
2008 2009 2010 2011 2012 2013 2014
1Q
0.10%
0.20%
0.57%0.54%0.52%
0.41%
0.03%
2008 2009 2010 2011 2012 2013 2014
1Q
66% 69% 71%
58% 59% 61% 61%
2008 2009 2010 2011 2012 2013 2014
1Q

12. 12
Strong contract structure and stable and predictable cash flow generation
 TGI’s revenues are highly predictable, with approximately 97% 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 8,01 years
– 87% of regulated revenues are fixed tariffs, not dependent on transported volume
– Approximately 79%(2) of EBITDA denominated in US Dollars
Revenues breakdown
(% of revenues)
Source: Company information.
(1) Includes Distributors, Ecopetrol´s refinery and Natural gas for Vehicles.
(2) TGI calculations.
TGI’s revenues are highly predictable as a result of regulated tariffs and stable consumption
Source: TGI as of March 31- 2014
Ecopetr
ol
16%
Gas
Natural
21%
Gases
de
Occident
e
16%
EPM
11%
Isagen
7%
Others
29%
By Sector
Natural gas transportation market share
(% of natural gas transported volume)
Source: Natural gas transportation companies’ Electronic Bulletin of Operations
TGI; 48.2%
Promigas;
37.0%
Others;
14.8%
Distrib
utor
58%
Refine
ry
14%
Therm
al
16%
Trader
s
3%
Vehicu
lar
9%
Others
6%
By Client

13. 13
Strong and consistent financial performance
Revenues EBITDA and EBITDA margin
Funds from operations (1)
(US$ in millions – average exchange rate for each period)
Source: Company information
Historical Capex
(US$ in millions – average exchange rate for each period)
(US$ in millions – average exchange rate for each period) (US$ in millions – average exchange rate for each period)
(1)FFO calculated as net income plus depreciation, amortization and provisions, adjusted for effect from exchange rate and hedges.
On 2012 FFO includes the LM transaction premium~ USD 69 million (one time event)
238 252
294
338
390
465 467
2008 2009 2010 2011 2012 2013 LTM
2014 1Q
194 196
222
257
289
359 367
82%
78%
75% 76% 74%
77% 79%
2008 2009 2010 2011 2012 2013 LTM 2014 1Q
14
69
174
387
185
35
12
2008 2009 2010 2011 2012 2013 2014 1Q
84 96 108 117
133
266 264
2008 2009 2010 2011 2012 2013 LTM 2014
1Q

14. 14
Strong and consistent financial performance
Total debt / EBITDA
Financial debt breakdown (2)
Subordination Agreement
 The lender is EEB (major shareholder)
 No repayment of principal allowed before payment of senior
debt
 Interest can only be paid if there is no default or event of default
and if the payment does not trigger any such scenario
 Subordinated debt acceleration is not allowed until senior debt
is not repaid
Source: Company information. Total debt includes senior debt, subordinated debt and mark-to-market.
Note: Ratios calculated in local currency.
(1) Interest coverage ratio calculated as EBITDA / Net interest
(2) Senior debt stands for the US$750 million Senior Unsecured Notes due 2022. Subordinated debt stands for intercompany loan with EEB.
Senior net debt / EBITDA Interest coverage (1)
6.53
5.57 5.35
4.87
4.17
3.54 3.41
2008 2009 2010 2011 2012 2013 2014
1Q
3.69
3.30 3.39
2.66
2.41
1.46
1.25
2008 2009 2010 2011 2012 2013 2014
1Q
2.02 2.00 2.06
2.54
4.03
5.93 6.15
2008 2009 2010 2011 2012 2013 2014
1Q
Senior
Debt; 756;
61%Hedges
M2M; 107;
9%
Sub Debt;
370; 30%

15. 15
4. Questions and answers

16. 16
4. Questions and answers
Conference Dial-In Numbers: Conference ID 42428398
Participant Toll-Free Dial-In Number: +1 (844) 825-0510
Participant International Dial-In Number: +1 (315) 625-6879
Participant ITFS Dial-In Numbers:
Chile: 12300206168
Colombia: 018005180165
Peru: 080052957
United Kingdom: 08000288438

17. 17
Investor Relations
For more information about TGI contact our Investor Relations team:
http://www.tgi.com.co
http://www.grupoenergiadebogota.com.co
Santiago Pardo de la Concha
CFO
+57 (1) 3138400 - ext 2320
santiago.pardo@tgi.com.co
Fabian Sánchez Aldana
Investor Relations Advisor - GEB
+57 (1) 3268000 – ext1827
fsanchez@eeb.com.co
Antonio Angarita
Investor Relations Officer - GEB
+57 (1) 3268000 - ext 1546
aangarita@eeb.com.co
Sergio Andrés Hernández Acosta
Finance Manager
+57 (1) 3138400 - ext 2450
sergio.hernandez@tgi.com.co

18. 18
Appendix 1 – Economic Industry and Regulatory
Environment

19. 19
Source: Banco de la República, DNP, MINHACIENDA., Bloomberg
5-year CDS Foreign currency reserves
Real GDP growth and inflation Foreign direct investment
(US$ in billions)(% growth)
(%) (US$ in billions)
Stable and growing Colombian economy with sound
investment environment
Despite the recent global economic slowdown, Colombia has experienced positive economic
growth and an increase in industrial activity, supported by a steady flow of investment
2 3 2 2
3
10
7
9
11
7 7
13
16
17
3
-
3.00
6.00
9.00
12.00
15.00
18.00
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
1Q
9 10 11 11
14 15 15
21
24 25
28
32
37
44 44
00%
05%
10%
15%
20%
25%
30%
35%
40%
45%
0
5
10
15
20
25
30
35
40
45
200020012002200320042005200620072008200920102011201220132014
International reserves
Debt as % of GDP
0
100
200
300
400
500
600
5%
5%
7% 7%
4%
2%
4%
7%
4% 4% 4%5.5%
4.9%4.5%
5.7%
7.7%
2.0%
3.2%
3.7%
2.4%
1.9%
3.3%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
(e)-
Real GDP growth
Inflation

20. 20 Source: UPME, ANH, Concentra and 1994 & 2013 BP Statistical Review of World Energy
1 Mining and Energy Planning Unit. Reserves as 2012.
2 National Hydrocarbons Agency. Reserves as 2012.
Natural Gas is Replacing More Expensive and Less
Environmentally-Friendly Fuel Sources
Growing Demand of Natural Gas Significant Availability of Natural Gas
 Reserves mostly located
in the north and east
regions of the country
 Key fields (Ballena,
Chuchupa, Cusiana and
Cupiagua) concentrate
virtually all of the natural
gas production
 Long distances between
production and main
consumption areas
 Minimal gas storage
capacity across the
country
Total
Domestic
Demand
(mmcf/d)
Expected
2013A-2018E
Growth by
Sector
1994 Total Fuel
Consumption: 26.2 mtoe
2012 Total Fuel
Consumption: 36.6 mtoe
20
Natural Gas in Colombia: Increasing Demand and Vast Reserves
Bucaramanga
Bogotá
Cali
Medellín
2.99 tcf
0.02 tcf
2.11 tcf
Eastern
Producers:
Ecopetrol
Equion
Upper Magdalena Valley
Lower and Middle
Magdalena Valley
Northern
Producers:
Chevron
Ecopetrol
References
Natural Gas Reserves
Main Oil & Gas Basins
City
1.89 tcf
Llanos
Orientales
Catatumbo
Guajira
Sinu
Tumaco
Choco
Valle Superior
Del Magdalena
Cordillera
Oriental
Valle Inferior
Del
Magdalena
Valle Medio
Del
Magdalena
11.7
7.0
0.4 0.3 0.1
Reserves per
UPME¹
Reserves per
ANH²
2012 Production 2012 Demand 2012 Exports
tcf
Prospective Non-Conventional Prospective Conventional
Probable + Possible Proved
​Oil
34.7%
​Hydroelectric
29.5%
​Natural
Gas
24.3%
​Coal
10.9%
​Renewables
0.5%
​Oil
44.2%
​Hydroelectric
27.7%
​Natural
Gas
14.3%
​Coal
13.6%
​Renewables
0.3%
(0.0)%
0.8% 1.9%
17.0%
6.3%
13.2%
Petro-
chemical
Industrial Residential Power
Generation
NGV Refinery
637
695 731 723
810
860 892 905
1049 1083
1270
2005 2006 2007 2008 2009 2010 2011 2012 2013 2016
E
2018
E
CAGR: 2005-2013: 6,4%
CAGR: 2013-2018: 3,9%

21. 21
Regulatory framework established
to attract private sector investment
 Law 142 (1994) establishes system
of open entry to the natural gas
transportation sector
− No term limitation for the provision
of the service
− Assets used in the provision of the
service are not owned by the state
but by the company providing
such service
CREG required by law to seek input
from market participants
 CREG is an independent regulatory
body that controls natural gas
regulation
− Sets tariffs, promotes competition
and monitors quality of service
Tariff calculation based on the
principle of financial feasibility and
economic efficiency
 Tariffs are set in order to allow the
service provider to:
− Recover operational costs and
investments
− Obtain a return on investment
comparable to what an efficient
company would obtain in a sector
of similar risk
Cost recovery, attractive regulated
return on investment and
protection against inflation
 Transporters are given full recovery
of operating and maintenance
expenses
− Adjusted by Colombian Price
Index (CPI)
 Dollar indexation of investment
remuneration tariff
 Different rates of return applied
when determining fixed and variable
charges
Constructive and stable regulatory framework
Source: Company information.
The Colombian gas transportation regulatory framework was established to attract private sector
investment and provide adequate cost recovery and regulated returns

22. 22
CREG RESOLUTION 021 OF 2014
 Establishes regulations for natural gas
market.
 Definition of contractual
arrangements in the primary market.
 Definition of marketing mechanisms.
 Defines secondary market with its
respective regulations.
 The following reliability aspects in the
Decree have not yet been defined by the
Regulatory Commission:
 The CREG will establish the reliability
criteria which shall secure the demand
coverage and must set the rules for the
evaluation and remuneration of these
investment projects.
CREG RESOLUTION 047 OF 2014
Recent Regulatory Decisions
CREG RESOLUTION 089 OF 2013
CREG RESOLUTION 088 OF 2013
 Release of the natural gas price set in
the SNT Entry Point.
 Through this resolution, gas price is
released for the two main gas
producing fields in the country,
Ballena y Cusiana – Cupiagua. DECREE 2100 OF 2011
 Establishes the principles that will be
considered in the next natural gas
transportation tariff update process.
 The resolution mentions the principles
that will be kept from the actual tariff
methodology.
 Remuneration based on contracts.
 Price cap methodology.
 It also mention aspects that must be
evaluated.
 System expansion based on
government signals.
 Tariff calculation based on historical
demand and not projected.
 Determines the opening of the selection
process for the Market Operator for the
natural gas market in Colombia.
 The process is expected to end by
December 2014 – January 2015

23. Appendix 2 – Shareholders and
Management team

24. 24
Source: Company information.
Ricardo Roa
Barragán
CEO
20  Mechanical Engineering degree from the Universidad Nacional and post-graduate degree in
Engineering management systems from the Pontificia Universidad Javeriana.
 Over 23 years of experience in the private and public sectors, including experience as
Energy Business Manager of organizacion Ardila Lulle, CEO of Poliobras S.A. ESP,
Marketing and Trading Manager and CEO of Electrificadora de Santander S.A. ESP (ESSA),
Energy and Gas Sectorial Secretary of The National Association of Utilities (ANDESCO) and
Advisor of the Colombia’s Superintendency of Domestic Public Services (Superintendencia
de Servicios Públicos Domiciliarios).
 CEO of TGI since March 2012
Santiago Pardo
Vice-President of
Finance
20  Degree in Economics from Universidad de los Andes and MBA from Cornell University
 Over 21 years of experience in international finance and banking, former Managing Director
(Infrastructure and Energy) of Abacus Capital, Project Finance Director of Reficar and
Director of Infrastructure and Energy Finance for Citi
 Vice-President of Finance since August 2011
Officer Key highlightsYears of relevant experience
Experienced management team with solid track record in the sector
TGI is led by an experienced and seasoned management team
Carlos A. Torres
Corporate Planning
and Business
Development (Senior
Manager)
20  Lawyer (Universidad de Los Andes); Business Law (Universidad de Los Andes)
 Over 20 years of experience in the Oil and Gas Industry
 Former General Counsel at Petrobras Colombia
David Riaño
Vice-President of
Growth and
Development (in
charge)
18
 Electrical Engineer (Universidad de La Salle); Masters in Industrial Engineering (Universidad
de Los Andes); Masters in Economics (Pontificia Universidad Javeriana)
 Over 18 years of experience in technical and economic regulation of gas and electricity
sector (CREG, Colombian Electricity Generators Association, Superintendency of Energy
and Gas, Superintendency of Public Services)

25. 25
25
Jorge Gonzalez
COO
20  Civil Engineer (Universidad de Los Andes); Specialization Studies in Finance (Universidad
de Los Andes)
 Over 17 years of experience in the natural gas industry
 Former NGV Manager at Gas Natural S.A.E.S.P.
Carlos Toledo
Vice-President for
Administration and
services
7
 Degree in Law from the Universidad UNICIENCIA.
 Degree in Electrical Engineering and specialization in telecommunications from Universidad
Industrial de Santander Master’s degree in Applied Political Studies from FIIAPP.
 Master in Social Cohesion from Universidad de Mendez Pelayo, España.
 Over 7 years serving the public and private sectors, including experience as IT manager of
the Bucaramanga´s Health institute , CEO of TELNETCO, and as advisor of the Santander
Department Government .
 Vice-President for Administration and Public Relations since May 2012.
Experienced management team with solid track record in the sector
Mauricio Montoya
Corporate Planning
and Business
Development (Senior
Manager)
20  Civil Engineer (Universidad de Los Andes); Masters in Science in Construction Engineering
and Project Management (University of Texas at Austin) and Specialization Studies in
Finance and International Business (Universidad de La Sabana)
 Over 12 years of experience, including 9 years in the natural gas transportation sector
working for Ecogas and TGI

26. 26
(68.1% of TGI)
Leading energy holding company with interests across the electricity
and natural gas sectors in Colombia, Peru and Guatemala
 Founded in 1896 and controlled by the City of Bogota (with a 76.28%
ownership stake)
 Participates in the electricity and natural gas sectors through controlling
and non-controlling investments
− Controlling investments in electricity transmission (Energia de Bogota
and Trecsa), electricity distribution (EEC), natural gas transportation
(TGI) and natural gas distribution (Contugas and Calidda)
− Non-controlling investments in electricity transmission (REP Peru, CTM
Peru and Isa), electricity generation (Emgesa and Isagen), electricity
districution (Codensa and Electrificadora del Meta), natural gas
transportation (Promigas) and natural gas distribution (gasNatural
Fenosa)
 US$ 957 Million EBITDA LTM (1Q 2014) and US$ 8.8 bn in assets (as of
march 2014)
The Rohatyn Group (TRG) is an investment manager focused
exclusively on emerging markets, with product offerings across three
primary business lines: private investments, hedge funds and fixed
income.
• Founded in 2002
• Currently has more than $7 billion in total assets under management
• Operates through 16 offices worldwide, with over 120 employees
• Presence in New York, Singapore, Mumbai, New Delhi, Hong Kong,
London, Buenos Aires, Lima, Mexico City, Sao Paulo, Montevideo,
Kuala Lumpur, Jakarta, Bangkok, Shanghai and Madrid
• Contributes know-how and financial discipline to TGI
(31.92% of TGI)
Expertise, financial strength and support of shareholders
68.1%
25%
15.6%
Electricity
Transmission
40%40%
1.8%
98.4%
Generation
51.5% *
2.5%
Distribution
51.5% *
16.2%
51%
82%
DistributionTransportation
Natural Gas
75%
60%
100%
*EEB is not the controlling
shareholder and is a party to
signed shareholder
agreements.
40%
25%
68.1%
TGI as part of the EEB Group:
100%
100%

27. 27
Appendix 3 – EEB Overview

28. 28
EEB Strategy and Overview
Strategy
 Transportation and distribution
of energy
Key facts
 More than 100 years’ experience in the sector; founded in 1896.
 Regional leader in the energy sector; major player in the entire electricity
and natural gas value chains (except E&P); operations in Colombia,
Peru, and Guatemala.
 Largest stockholder is the District of Bogota - 76.2%.
 Stock listed on the Colombia stock exchange; EEB adheres to global
standards of corporate governance.
 The EEB Group is one of the largest issuers of equity and debt in
Colombia
USD Million 1Q 2014
Operating revenue 275.9
Operating profit 110.3
EBITDA LTM 957.1
Net Income 434.2
Consolidated - Covenants 1Q 2014
Leverage Ratio 1.39
Interest Coverage Ratio 10.96
68.1%
25%
15.6%
Electricity
Transmission
40%40%
1.8%
98.4%
Generation
51.5% *
2.5%
Distribution
51.5% *
16.2%
51%
82%
DistributionTransportation
Natural Gas
75%
60%
100%
*EEB is not the controlling
shareholder and is a party to
signed shareholder
agreements.
40%
25%
100%
100%
Focus on
natural
monopolies
Ample access
to capital
markets
Ambitious
projects in
execution
Growth in
controlled
subsidiaries
Sound
regulatory
framework
Experienced
management
and partners

29. 29
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.

30. 30