2. 2
Table of contents
1. TGI overview and history
2. Financial and operating highlights
3. Sizeable expansion projects are well underway
4. Questions and answers
Appendix
1. EEB Overview
2. Economic, industry and regulatory environment
3. Shareholders and management team
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 network
Natural gas reserves
City (population)
References
Highlights
Source: Company information
and ANH.
1.19 tcfCenter
2.49 tcfNorth
3.36 tcf
Eastern
Producers:
Chevron
Ecopetrol
Producers:
Ecopetrol & EquionSouth
Valledupar
(350k)
Currumaní
(27k)
Bucaramanga
(1.1mm)
Bogota
(7.9mm)
Neiva
(477k)
Cali
(2.7mm)
Pereira
(682k)
Manizales
(430k)
Medellin
(3.3mm)
0.02 tcf
Pipeline owned by TGI
Pipeline owned by a third party
References
BOMT
Owns ~57% of the national pipeline network (3,957
km) and transports 47% of the gas consumed in the
country
− Serves ~70% of Colombia’s population, reaching
the most populated areas (Bogota, Cali, Medellin,
Bucaramanga and 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
Villavicencio
(384k)
5
Creation of Ecogas
1997
2005
Alienation of Ecogas assets
2006
Ecogás awarded to EEB
2007
Creation of TGI and bond
issuance Transfer of 1st
BOMT (GBS)
and pipelines
exchange with
Promigas
Transfer of 2nd BOMT
(Centragas) and CVCI
capitalization
Cusiana expansion
phase I begins
operations
Subordinated debt is
refinanced.
2009
2008
TGI assumes the O&M
of owned pipelines
2012
Refinancing of 2007 Bond
issue
Cusiana expansion phase II
begins operations (3Q)
TGI assumes the O&M of
Compressor stations.
Moody´s and Fitch give
investment grade rating to
TGI
2011
2010
Source: Company information.
Ballena expansion begins
Operations
TGI-Transcogas merger
2013
Standard &
Poor’s gives
investment
grade rating
to TGI
8. 8
Source: UPME and Company information.
(1) As of June 30, 2013.
(2) 46,7% of market share of gas transported directly by TGI. Most of the 15% transported by “Others” is natural gas transported by TGI through the
TGI Pipeline System to other pipeline systems.
TGI is the largest natural gas transportation
company in the country
− Holds 46.7%(2) market share in the Colombian
natural gas transportation sector and owns
~57% of the pipeline network
TGI’s extensive pipeline network (3,957 km)
allows the Company to take advantage of new
business opportunities and participate in
expansion projects in different regions
Other industry participants face high barriers of
entry to access TGI’s gas transportation market
in a cost-efficient manner
Natural gas transportation market share (1)
Natural gas transported volume (1)
(mmscfd)
(% of natural gas transported volume)
Largest natural gas pipeline system in Colombia
TGI has a dominant market position, holding a natural monopoly with high barriers of entry
Source: Natural gas transportation companies’ Electronic Bulletin of Operations
Source: Natural gas transportation companies’ Electronic Bulletin of Operations
TGI
46.7%
Promigas
38.3%
Others
15.0%
435.8
357.7
43.6 43.5 29.5 12.5 6.1
9. 9
Stable and predictable cash flow generation
TGI’s revenues are highly predictable, with approximately 94% coming from regulated tariffs that are reviewed al least every 5
years, ensuring cash flow stability and attractive rates of return
Main sectors served by the Company (77(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 8,5 years
− 82% of regulated revenues are fixed tariffs, not dependent on transported volume (expected to increase with the new
regulatory scheme)
− Approximately 76%(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
(3) Ecopetrol accounts for most of this revenue.
TGI’s revenues are highly predictable as a result of regulated tariffs and stable consumption
Source: TGI as of June 30- 2013
Ecopetr
ol
16%
Gas
Natural
24%Gases
de
Occiden
te
17%
EPM
12%
Isagen
7%
Others
24%
By Client
Distribut
or
59%
Refinery
11%
Thermal
15%
Traders
5%
Vehicle
7%
Others
3%
By Sector
Key financial data - Ebitda
196 198
224
261
289
330
2008 2009 2010 2011 2012 LTM Jun 13
US$ in millions – LTM average exchange rate)ues)
10. 10
And long term firm contracts
Source: Company information.
(1) Includes 36 clients.
TGI’s capacity is covered by firm contracts (average life of 8.4 years) with top-tier clients
(1)
In 2008, the Company contracted its capacity on a long term basis, with most of the contracts maturing 2021
TGI has in place a commercial strategy to ensure a timely rollover of the contracts
Retail distributors (regulated users), including Gas Natural, Gases de Occidente, EPM are forced by
regulation to have their gas transport needs under firm contracts
OTHERS
11. 11
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)
240 253
295
339
391
435
2008 2009 2010 2011 2012 LTM Jun
13
196 198
224
261
289
330
82%
78% 76% 77%
74% 76%
2008 2009 2010 2011 2012 LTM Jun
13
84.2
96.5 108.1 116.9
132.5
239.7
2008 2009 2010 2011 2012 LTM Jun 13
14
69
174
387
185
19
2008 2009 2010 2011 2012 2013 1H
12. 12
Financial debt breakdown – Jun. 2013 (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.
Note: Ratios calculated in local currency
(1) Interest coverage ratio calculated as EBITDA / Net Interest
(2) Senior debt stands for the US$750 million Senior Unsecured Notes due 2022. Subordinated debt stands for intercompany loan with EEB.
Strong and consistent financial performance
Hedges; 109
mm (9%)
Sub debt;
370 mm
(30%)
Senior debt;
750mm (61%)
Total Debt / EBITDA
(x)
6.5
5.6 5.4 4.9
4.2 3.9
2008 2009 2010 2011 2012 LTM
Jun 13
2.0 2.0 2.1
2.5
4.0
5.5
2008 2009 2010 2011 2012 LTM
Jun 13
4.4
3.8 3.7 3.4 3.0 2.7
2008 2009 2010 2011 2012 LTM
Jun 13
Total Senior Debt / EBITDA
(x)
Interest coverage (1)
(x)
13. 13
In May 2013 TGI’s board approved a new organizational structure for TGI with the objective of aligning it with
its strategic vision and objectives
The new structure was in part based on the recommendations of a study by CT Partners, an internationally
recognized HR consulting firm
TGI’s Board also decided to relocate the company’s headquarters from Bucaramanga to Bogotá
The new organizational structure is as follows:
Organizational Structure
15. Sizeable expansion projects are well underway
Source: Company information.
Cusiana Apiay San Fernando La Sabana compression plant Eje Cafetero branches
TGI has additional projects to be implemented in the coming years, which are fully financed
Casa
máquinas
Cuarto
contro
lVariadores
de
velocidad
Potencia
eléctrica
Oficina
s
Venteo
Key highlights:
Historically the Apiay region has had a notable oil and gas
development
• There are a substantial number of oil extraction facilities that
operate with gas and whose energy requirements are
estimated to increase in the future
The project consists in the construction of a 150 km 20” loop
between Cusiana and Apiay and a new 50 km 10” pipeline from
Apiay to the San Fernando generation facilities.
Will increase capacity by approximately 70 mmscfd at an estimated
cost of US$ 247 million (+/-20%)
Client : Ecopetrol
Engineering and environmental studies underway
MOU signed with Ecopetrol on 2012.
Transportation contract negotiation in process
RFP for EPC expected on 2H 2013.
Expected commercial operation start date: 2015-2016
Key highlights:
La Sabana compression plant is the solution to the needed
expansion of the transportation system serving Bogotá and its
surrounding area
The project consists in the construction of a compression station
that will increase the transportation capacity from 143 to 215
mmscfd
The cost of the station will be approximately US$ 55 million
The compression equipment will use the MOPICO technology,
for environmental reasons
Land already acquired
The MOPICO compressor supply contract is under negotiation
and will be signed soon.
RFP for EPC already posted.
Site works are expected to begin at the 2H 2013. The station is
expected to begin operations during 2014
Key highlights:
Capacity Increase supported by the construction of two loops
conected to the existent branches of Armenia and Chinchina:
Armenia Branch: The project consists in the construction of
a 37,5km 8” loop, paralel to the existent 6” pipeline that
goes from the 20” conexión to the delivery station located in
La Tebaida.
Chinchiná - Santa Rosa – Dosquebradas Branch:
Construction of a 7.5km 3” loop, paralel to the existing 3”
pipeline that goes from the delivery station located at
Chinchina to the pipeline that supplies the Municipalities of
Santa Rosa and Dos Quebradas.
Expected commercial operation start date: 2016
Estimated cost : US$ 28 million
Loop end
Loop Start
ZARZAL
LA TEBAIDA
Loop Start
Loop End
CHINCHINÁ
DOS
QUEBRADAS
SANTA ROSA
19. EEB Strategy and Overview
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%
99.94%
*EEB is not the controlling
shareholder and is a party to
signed shareholder
agreements.
40%
25%
68.1%
Focus on
natural
monopolies
Ample access
to capital
markets
Ambitious
projects in
execution
Growth in
controlled
subsidiaries
Sound
regulatory
framework
Experienced
management
and partners
Strategy
Transportation and distribution
of energy
Key facts
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.
More than 100 years’ experience in the sector; founded in 1886.
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 biggest issuers of equity and debt in
Colombia.
21. 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
3%
2%
3%
4%
5%
5%
7% 7%
4%
2%
4%
7%
4%
3%
0%
2%
4%
6%
8%
10%
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
[e]
Real GDP growth Inflation
2 3 2 2
3
10
7
9
11
7 7
13
16
4
-
3.0
6.0
9.0
12.0
15.0
18.0
20002001200220032004200520062007200820092010201120122013
1Q
9 10 11 11
14 15 15
21
24 25
28
32
37
41
-5%
5%
15%
25%
35%
45%
-5
5
15
25
35
45
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
(e)
International reserves Debt as % of GDP
0
100
200
300
400
500
600
700
800
900
22. Strong growth of Colombia’s natural gas sector
Source: UPME and Concentra.
Highlights
The natural gas industry in Colombia remained virtually undeveloped
until the mid 1970s, when significant discoveries of natural gas
reserves in the Guajira basin were made
− Since then, the Colombian government has launched several
initiatives to promote development in the sector
Natural gas demand has experienced significant growth, reaching an
estimated of 848 mmscfd in 2012, as a result of the following factors:
− Substitution of natural gas from other more expensive and less
environment-friendly fossil fuels
− Significant growth in many industrial segments of the Colombian
economy
− Significant growth of the country’s overall population and GDP
More than 6,6 million residential households, 450,000 vehicles and a
great portion of the national industries are served with natural gas
It is expected that local demand for natural gas will continue to
increase at an average annual rate of about 4,5% until 2016
− Main growth expected to come from the refinery, vehicle,
residential and thermoelectric sector.
− Central Colombia (TGI’s region) is less “gassified” than the
Atlantic Coast, with higher growth opportunities in the interior of
the country
Natural gas demand Dec 2012 E
Demand by sector Dec 2012 E
Expected demand growth by sector (Base 2012 E)
(mmscfd)
The consumption of natural gas as a fuel source has experienced a significant increase and is
expected to continue growing over the coming years
(% of total demand)
(2012-2016 growth)
CAGR: 05-12: 4,2% CAGR: 12-16: 4,5%
637 695 731 723 810 860 783
848 931 1012
2005 2006 2007 2008 2009 2010 2011 2012 2013 2016
Petrochemi
cal 2%
Industrial -
Refinery
42%
Residential
23%
GNV 8%
Thermoelec
tric 25%
3.1%
-0.2%
0.4%
2.8%
10.5%
20.9%
Thermoelectric Petrochemical Industrial Residential GNV Refinery
Energy Sources Dec 2010 E
Other
3%
Coal
11%
Natural
Gas 24%
Hydroelec
tric
12%Wood 6%
Oil 44%
23. Vast reserves of natural gas
Natural gas reserves location
Natural gas
reserves
City (population)
References
0.71 tcfVMM
1,89 tcfNorth
2,99 tcf
Eastern
Producers:
Chevron
Ecopetrol
Producers:
Ecopetrol
EquionVSM
Valledupar
(350k)
Currumaní
(27k)
Cucuta
(804k)
Bucaramanga
(1.1mm)
Bogota
(7.9mm)
Neiva (477k)
Cali (2.7mm)
Pereira (682k)
Manizales (430k)
Medellin (3.3mm)
0.02 tcf
Total natural gas reserves growth(1)
Natural gas reserves and production by region E(2)
Average production:
1,158 mmscfd (Dec 2012)
Total reserves (Dec 2012) :
7,01 tcf
(tcf)
2012 total natural gas reserves of 7.01 tcf (5.73 tcf proven and 1.28 tcf
unproven)
VSM: Valle Superior del Magdalena VMM: Valle del Medio Magdalena VIM:
Valle Inferior del Magdalena
Reserves / production ratio of 17 years
Colombia has vast natural gas reserves, which have been growing through increasing
exploration activity since the initial discovery in the Guajira basin in the mid 1970s
Although total natural gas reserves (proven, probable and possible)
decreased in 2011, proved reserves increased by 1.1% in that year
The majority of natural gas reserves are located in the East region of
Colombia (Cusiana basin), although North basin (Chuchupa / Ballena)
accounts for most of the current production
Barranquilla (1.3mm)
Sta. Marta (431k)
Cartagena (890k)
Ballena
54%
Cusiana -
cupiagua
27%
La
Creciente
5%
Others
14%
0
2000
4000
6000
8000
10000
2005 2006 2007 2008 2009 2010 2011 2012
GPC
Probadas Probables + Posibles Total
CAGR 05-09:3.0% CAGR 10-12: 2,4%
1,40 tcf
VIM
Producers:
Pacific
Hocol
North
27%
Others
30%
East
43%
Source: ANH - Latest Company Information Available.
(1) 2012 Reserves shown as a total .
(2) Natural Gas reserves and Production by Región are Estimated. Production: Concentra
24. CAGR: 12 -16
Coast: 7.8% Interior:
1,8%
200
300
400
500
600
MMSCFD
Coast Interior
Strategically located pipeline network
Source: Upme, MME, Concentra Latest Company Information Available
TGI pipeline network
TGI’s pipeline network ensures natural gas demand by reaching Colombia’s major urban and
industrial centers and guarantees supply through its position close to large gas reserves
TGI’s pipeline network is connected to the two largest production
centers in the country, which provides reliability to the system
Total natural gas demand evolution by region
Total natural gas demand evolution by region E
1.30 tcfVIM-VMM
1,89 tcf
North
2,99 tcf
Eastern
Producers:
Chevron
Ecopetrol
Producers:
Ecopetrol
EquiónVSM
Valledupar
(350k)
Currumaní
(27k)
Cucuta
(804k)
Bucaramanga
(1.1mm)
Bogota
(7.9mm)
Neiva (477k)
Cali (2.7mm)
Pereira (682k)
Manizales (430k)
Medellin (3.3mm)
0.02 tcf
Natural gas reserves
City (population)
References
Pipeline owned by TGI
Pipeline owned by a third party
References
BOMT
TGI pipeline network(1) Residential natural gas users evolution by region
(mmscfd)
CAGR 06-13: Interior: 8.5%;
Coast: 4.6%
CAGR: 05-12
Coast: 1.7% Interior: 6.4%
(1) Reserves information to 2010..
Total natural gas demand evolution by region E
0
1
2
3
4
5
6
2006 2007 2008 2009 2010 2011 2012 2013
MillionsUsers
Coast Inland
410 359 346 413
463 492 512
591
155 205 186
192
200
450
700
950
1200
1450
2010 2011 2012 2013
GBTUD
Coast Inland Others Exports
25. 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
26. 26
77% of revenues from top tier clients with solid credit ratings, all raised to investment grade in
tandem with sovereign rating
Robust customer base
26
Source: Company information.
(1) Residential users refer to the number of residencies served, not the population, which would be approximately five times
larger.
Largest gas producer in Colombia
Publicly traded company controlled by the Colombian government
Strong corporate governance
Ratings: Baa2/BBB- foreign; AAA local
Firm contract for 8 years
Main gas distributor in Colombia
Controlled by Spanish gasNatural Fenosa; EEB holds 25% of the
company’s shares
Ratings: AAA local
Firm contract for 20 years
Gas distributor in the Southwest region of Colombia
Private company controlled by Promigas with dominant presence in
the state of Valle del Cauca
Ratings: AAA local
Firm contract for 8 years
Main electricity generator in Colombia and gas distributor in the
Northwest region of the country
Controlled by the City of Medellin
Ratings: Baa3/BBB foreign ; AAA local.
Firm contract for 8 years
Third electricity generator in Colombia
57% controlled by the Colombian government
Ratings: Baa3/BBB- foreign ; AA+/BB+ local
Firm contract for 8 years
TGI’s main clients Main clients served
Refineries
Thermal generators
Trading
Residential (2.5mm users) (1)
Small businesses.
Industries
Natural Gas for Vehicles
Residential (884k users) (1)
Industries
Natural Gas for Vehicles
Residential (776k users) (1)
Thermal generation
Thermal generation
Trading
28. (68.05% 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$ 644,3 Million EBITDA (1H-2013) and US$ 8 Billion assets (To june
2013)
Leading private equity in emerging markets focused on companies
with compelling growth prospects across India, China, Asia Pacific,
Emerging Europe, Africa and Latin America
Founded in 2001
Focused on Latin America, Asia, Emerging Europe and other regions
with strong growth potential
Participates in companies covering a broad range of industries in high-
growth sectors and markets
CVCI currently manages over U.S.$7 billion in equity investments and
committed capital
Contributes know-how and financial discipline to TGI
(31.92% of TGI)
Expertise, financial strength and support of shareholders
28
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%
99.94%
*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:
29. 29
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 20 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
CFO
20 Degree in Economics from Universidad de los Andes and MBA from Cornell University
Over 20 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 Toledo
Vice-President for
Administration and
Public Relations
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.
David Riaño
Manager of
Regulatory Affairs
18 Electrical Engineering degree from Universidad de la Salle.
Masters of Industrial Engineering from Universidad de los Andes.
Masters of Economics from Pontificia Universidad Javeriana.
Postgraduate Specialization in Management of Engineering Projects from Universidad de la
Salle.
Over 18 years of experience in technical and economic regulation of the gas and electricity
sector. Worked as Executive Vice President of Colombian Electricity Generators Association,
Superintendent for Energy and Gas at the Office of the Superintendent of Public Services,
and Advisor to the Energy and Gas Regulatory Commission (CREG).
Regulatory Affairs Manager of TGI since March 2013.
30. 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.