1

Regional Leader in the

Energy Sector

2

1896

Private and

vertically

integrated

company serving

the market of

Bogotá.

1990

Street Lighting

Bogotá

1992

Hidroelectric Power

station

“El Guavio”

1896 1959 1997 2002 2005-2007 2008-2009 2010-2011 2012-2013 2014-2016

Law142 &

143

Utilities Law

1994

Agreement 1

• Transformation

into a company by

shares

• Participation

Private capital up

to 49%1996

51,51%

51,51%

Internacionalization

2002

40%

72%

1997Transformation

1896Foundation

2005-08Diversification

75%

2008

2007

97,91%

Merger

Transcogas -

TGI (Ecogas)

2009-11Growth

98%

82,34%

100%

60%

15,6%

IPO EEB

2011

99,5%

100%

2012-13Consolidation

100%

51%

2015

Acquisition

Codensa absorbs

EEC

New Corporate

Strategy

20% Sale of the

major shareholder

Minor stake

divestitures.

2016-17Expansion

Over than 100 year of energy

3

EEB Corporate Structure

Total

6.0 mm

Customers

Electricity

Distribution

Natural Gas

Distribution

3.5 mm

Customers in

Colombia

2.1 mm

Customers in

Colombia

Natural Gas

Distribution Peru

440K

Customers

Urban Energy Solutions

Interconnecting for Market

Development

Low Emission Generation

EEB is focused on natural monopolies in regulated sectors around three businesses, with a clearcompetitive strategy

Main Subsidiaries

Total

12.5 KM

Transmission

Grid

Electricity TransmissionNatural Gas

Transportation

1,500 KM

Transmission Grid

in Colombia

9,500 KM

Transmission Grid

in Peru

400 KM

Transmission Grid

in Central America

1,100 KM

Transmission Grid

in Brazil

4,000 KM

of Pipelines

Main Subsidiaries

Power Generation

14,975 GWh Power Generated in

2016

Main Subsidiaries

(1)

51.3% 60%

100% 16.2%

25%

(2)

100% 99.97%

100%100%

95.3%

40% 40%

____________________Source: Company Filings.

(1) EEB effective ownership via direct and indirect stakes. (2) Ownership through GEBBRAS Special Purpose Vehicle, acquired on August 21, 2015.

51.5%

4

INVESTMENTS

Highlights

FINANCIALHighlights

MAIN INVESTMENTS

APPENDIX

5

INVESTMENTS

Highlights

FINANCIALHighlights

MAIN INVESTMENTS

APPENDIX

6

Key Investment HighlightsEEB represents an extraordinary opportunity to participate in a leadingdiversified platform across regional energy markets

EEB’s subsidiaries have market leading participations across the energy chain and are well positioned to benefit from the expected growth in electricity and natural gas markets in the region

Leading Participant in

Relevant Energy Markets

Sound industry dynamics as well as strong growth outlooks for electricity and natural gas sectors in Colombia, Peru, Brazil and Guatemala provide significant growth opportunities for EEB and its subsidiaries

Strong Footprint in Attractive

Energy Markets in LatAm

Due to the industry’s regulated framework, EEB’s distribution and transportation businesses provide stable streams of predictable earnings. Carefully selected brownfield projects also provide significant growth opportunities

Growing Revenue Base Propelled by

Disciplined Capex Planning

EEB receives a stable flow of dividends from its subsidiaries with dividend policies that promote maximum payout ratios. In turn, EEB pays out an attractive and reliable amount of dividends to its shareholders

Track Record of Creating Value

for Shareholders

EEB has successfully accessed the debt and equity markets in recent years to help finance important investment plans. Several liability management transactions undertaken to reduce EEB’s overall financial costs

Continued Access to Financial

Markets to Fund Expansions

EEB has strong relationships with its shareholders, including the Government of Bogotá, as well as with its partners (e.g. Grupo Enel, Gas Natural, ISA, Furnas, etc.)

Strong Shareholders and Partners

1

2

3

4

5

6

7

Leading Participant in Relevant Energy MarketsEEB’s subsidiaries have market leading participations across the energy chain inColombia, Peru and Guatemala

1

Guatemala

Brazil

Peru

Colombia

Market Share (%)

(% NTS(1) Revenues Gtm)

Transmission

20.8%

# 1 Guatemala

Electricity

Market Share (%)

(Demand volume)

Distribution

81.0%

# 1 Peru

Natural Gas

Market Share (%)

(% NTS(1) Revenues Peru)

Transmission

66.3%

# 1 Peru

Electricity

Market Share (%)

(Kwh)

Distribution

22.1%

Market Share (%)

(% NTS(1) Revenues)

Transmission

12.6%

Market Share Inst.

Capacity (%)

Market Share

Generation (%)

Generation

22.7%

# 1 Colombia

# 2 Colombia

# 3 Colombia

Electricity

21.0%

Market Share (%)

(# of clients)

Distribution

65.4%

Market Share(%)

(Transported volume)

Transport

84.7%

# 1 Colombia

# 1 Colombia

Natural Gas

Market Share (%)

(Km of 220-138 kV lines)

Transmission

1.1%

Brazil

Electricity

(2)

(2)

____________________Source: Company fillings.

(1) National Transmission System.

(2) Under divestiture process through Law 226/1995.

8____________________

Source: ANH, MEM, UPME (base case).

Strong Footprint in LatAm Natural Gas Markets… EEB is well positioned to benefit from the expected growth in the natural gas sector viaits investments in TGI, Gas Natural, Promigas, Calidda & Contugas.

2

ColombiaNatural Gas Footprint

PeruNatural Gas Footprint

Natural Gas Demand (mmcfd)

860 892 905 1.047 1.106 1.030

1.285

2010 2011 2012 2013 2014 2015 … 2018E

References

Natural Gas ReservesCityField

Bucaramanga

Bogota

NeivaCali

Medellin

3.15 tcf

1.97 tcf

EasternProducers:EcopetrolEquion

Upper Magdalena Valley

Lower and Middle Magdalena Valley

Northern Producers:

Chevron Ecopetrol 1.89 tcf

Ballena

Cusiana

Proved

Reserves14,626

BCF

Residential

Industrial

Natural Gas Pipeline

Main grid expansion

522 590 658 638 697 635

1.900

2010 2011 2012 2013 2014 2015 … 2025E

Natural Gas Demand (mmcfd)

9

…And in LatAm Electricity

Markets As Well

Sound electricity industry dynamics expectedto positively impact EEB’s performance, viaits investments in Codensa, Emgesa, REP-CTM among others.

2

Colombia

Peru

56.148 57.157 59.367 60.885 63.964 66.174 73.867

2010 2011 2012 2013 2014 2015 … 2018E

Electricity Demand (GWh)

32.314 36.779

40.940 43.559 43.102 48.066

67.492

2010 2011 2012 2013 2014 2015 … 2018E

8.134 8.473 8.730 8.945 9.231 10.886

12.630

2010 2011 2012 2013 2014 2015 … 2018E

Guatemala

Source: ANH, MEM, UPME (medium scenario).

10

$1.693.167$1.902.952

$2.183.395$2.530.768

$3.453.060

$3.898.366

2011 2012 2013 2014 2015 2016

Growing Revenue Base…3

Natural Gas Distribution Revenue Electricity Distribution Revenue

Natural Gas Transportation Revenue Electricity Transmission Revenue

(COP mm)

(COP mm)(COP mm)

(COP mm)

$1,282$872 $1,076 $1,133 $1,145 $1,216 (USD mm) $1,503$1,809 $2,092 $1,973 $1,711 $1,415 (USD mm)

$794$423 $536 $578 $571 $643(USD mm) $356$426 $358 $289 $295 $317(USD mm)

REPCTM

EEB Tran.

TGI

PROMIGAS

GAS NATURAL

CALIDDA

CODENSA

EEC

EMSA

As a result of participating in a regulated industry, EEB’s revenues are stable and predictable(81% of total revenues come from regulated businesses)

$ 826.676

$ 632.706$ 556.743

$ 705.122

$ 998.152$ 1.081.819

2011 2012 2013 2014 2015 2016

$3.513.739 $3.699.245 $3.802.041$4.089.266

$4.455.857 $4.660.744

2011 2012 2013 2014 2015 2016

$820.851$948.514

$1.113.894$1.352.005

$2.026.123

$2.413.106

2011 2012 2013 2014 2015 2016

____________________

Source: Company filings.

Note: Total of operating revenues per company – aggregated figures for comparable purposes. Figures converted at an average exchange rate of USD/COP for 2011: $1,942.7; 2012:

$1,768.2, 2013:$1,926.8; 2014: $2018.8, 2015:$2.771.5, 2016:$3,040.6. CAGR calculated in local currency.

11

… Propelled by a Solid Capex Plan3Revenue growth has been sustained by a strong capex plan at the subsidiary and theassociate level.

Executed Capex by Segment(1) (2016 | 950.5 USD Mm)Executed Capex by Companies(1) (2016 | 950.5 USD Mm)

Executed Capex by Country(1) (2016 | 950.5 USD Mm) Executed Capex by Investment(1) (2016 | 950.5 USD Mm)

____________________

Source: Company filings.

(1) Excludes Brazil – GEBBRAS Capex.

12

… Propelled by a Solid Capex Plan3Revenue growth has been sustained by a strong capex plan at the subsidiary and theassociate level.

On-going projects: Nueva Esperanza, Norte.

New and existing demand

Quality service and continuity

Control operational risk

Smart metering

UPME Project StatusEAR(1)

USD MM On Stream

Chivor II Norte 54.9% 5.5 20/05/2017

Cartagena Bolívar 58.9% 11.6 18/11/2017

Río Córdoba 53.3% 1.8 22/07/2017

Armenia 96.0% 1.28 17/04/2017

Tesalia 85.0% 10.98 18/05/2017

Sogamoso Norte 40.8% 21.1 30/09/2017

Refuerzo Suroccidental 500 kV 18.3% 24.4 30/09/2018

Ecopetrol San Fernando(2)50.4% 4.1 18/06/2017

Río Cordoba Transformadores(2)79.2% 0.51 08/08/2017

La Loma 500 Kv 62.1% 1.29 30/03/2017

La Loma 110 Kv(2)9.5% 5.5 30/06/2018

Drummond Rio Cordoba(2)24.2% 0.69 22/07/2017

88.75

On-going projects:

CONCESION - MANTARO – MARCONA

LA PLANICIE –INDUSTRIALES

FRIASPATA MOLLEPATA and ORCOTUNA Substation

Projects Update (2016) Projects Update (2016)

____________________

Source: Company filings.

(1) Expected annual revenues.

(2) Revenues are in COP, EOP: COP 3,000.71.

13

-

5.000

10.000

15.000

20.000

25.000

0

20

40

60

80

100

120

140

01/2016 02/2016 03/2016 04/2016 05/2016 06/2016 07/2016 08/2016 09/2016 10/2016 11/2016 12/2016

Vo

lum

e (

CO

P m

m)

Pri

ce (

Ind

exa

do

10

0)

Volumen

Acción EEB

COLCAP

Track Record of Creating Value Share Price Appreciation4EEB’s shares over the last year have been provided stable returns in a volatile marketenvironment.

Historical Share Price Evolution – Last 12 Months

• Ticker EEB: CB | Part of COLCAP, and COLIR and DJSI • As of December 30th 2016 EEB’s marketcap was USD 5.9 Billion• Average Target Price COP1,970 (USD 0.65) (1)

5.24%

19.6%

Colombia Colcap

• Dividend Payout Ratio 2016: 70% Avg 2008 - 2015: 80% • Dividend Yield 2017: 5.5% Avg 2010 - 2017: 4.4%

____________________

Source: Bloomberg since January1st 2015 until December 30t 2016

(1) Average target price calculated as the average of the following brokers: Credicorp: COP1,860; BTG: COP1,960; Acciones y Valores: COP1,900; Corredores Davivienda: COP 2,200; Alianza

Valores: COP1,900; Valores Bancolombia: COP1,800. Larrainvial: COP 2,100: Corficolombiana COP 2.096

14

Track Record of Creating Value Share Price Appreciation4

(COP / Share)

Source Company filings.

(1) The values of years prior to 2011 dividend were adjusted split 100:1, which applied since the 20.06.11. Outstanding shares after that day: 9,181,177,017.

(2) EEB decreed no dividends neither 1Q 11 nor 1Q 15 due to an anticipated close of the financial statements.

(3) Dividends are declared based on standalone financial staements

(COP mm)

Dividend YieldDividends per Share(1)(2)

Dividend Payout Ratio Evolution(3)

(COP / Share)

$0.04 $0.02 $0.02 $0.03(USD) $0.05-- -- $0.02 $0.01

EEB receives a stable stream of dividends from subsidiaries with dividend policies thatpromote maximum payout ratios.

$82,0

$34,9 $44,0

$64,3

$119,9

$50,0

$24,4

$99,0

4Q 10 1Q 11 1Q 12 1Q 13 1Q 14 4Q 14 1Q 15 3Q 15 1Q 16 1Q 17

$0.03

$1.175 $1.270

$1.500 $1.700 $1.720 $1.810

$1.514

3,0% 3,5% 4,3%

7,1% 4,3%

7.1% 4,4%

$0

$500

$1.000

$1.500

$2.000

0,0%

2,0%

4,0%

6,0%

8,0%

2012 2013 2014 2015 2016 2017 Avg 2010-2017

Closing Share Price at the End of the Previous Year in COP Dividend Yield

$219.115

$723.213

$1.092.944

$305.294

$690.701

$843.560

$1.380.603

$320.500

$1.288.984

$762.768

$309.283 $291.537

$704.350

$319.964 $403.605

$590.533

$1.100.875

$224.350

$908.937

$539.270

141%

40%

64%

105%

58%

70% 80%

70% 71%

78%

$0

$500.000

$1.000.000

$1.500.000

0%

50%

100%

150%

2008 2009 2010 2011 2012 2013 2014 2015 2016 Avg 2008-2016Net Profit Dividends Value Dividend Payout + Including Released Reserves

15

Continued Access to Financial Markets to Fund Expansions5EEB has successfully accessed the debt and equity capital markets in recent years, helpingfinance important investments.

Transactions Executed in the Capital Markets

Outstanding Bonds (2016)

(USD mm)

EEB/Subsidiaries AssociatesIssuerBaa2BBB-AAA (Col)

Moody’s Baa2; stableS&P BBB-; stableFitch BBB; stable

$750 mm

TGI 2022

IssuerBaa3BBB-BBB

Moody´s Baa3; StableS&P BBB-; stableFitch BBB; stable

IssuerBaa3BBB-BBB

(USD mm)

$749 mmEEB 2021

Moody’s Baa3; stableS&P BBB-; stableFitch BBB; stable

$320 mm Cálidda 2023

Local AAA - F1 + (col) Fitch BBB; stableS&P BBB-; stableMoodys Baa2; stable

Local AAAFitch AAA , Stable

$1,300 mm $450 mm

$487 mm

Local AAA

Local AAAS&P BBB; stableFitch BBB; stable

$547 mm

$786 mm

Local AAA

Local AAA

$270 mm

2007 2008 2011 2012 2013 2014 2015 2016

EEB Bond (1)

8.75%

USD 610 M

TGI Bond (1)

9.5%

USD 750 M

CAF Facility

USD 100MIPO

USD 415 M

LM (1)

Bond EEB

6.125%

USD 610 M

LM (1)

TGI Bond

5.7%

USD 750 M

Facility

Contugas

USD 310 M

Cálidda Bond (1)

4.375%

USD 320 M

Re Opening (1)

EEB Bond

USD 139 M

Facility

Contugas

USD 24 M

Facility

IELAH

USD 645 M

Facility

Contugas

USD 8 M

Facility

Cálidda

USD 30 M

Facility

TRECSA

USD 87 M

Facility

Cálidda

USD 24 M

Facility

EEBIS

USD 48 M

2017

EEB

Local Bond

Issuance

USD 225 M

____________________Source: EEB, Companies Fillings, Bloomberg.

(1) Bonds issuance under Rule 144A/ Reg S; LM: Liability Management.

16

Strong Shareholders and Partners6EEB has strong relationships with its shareholders, including the Government of Bogotá,as well as with its partners (e.g. Enel Group, Gas Natural, ISA, Furnas etc)

Ownership Structure – December 2016 Key Partners (2016)

+ 7 million clients

2 countries

USD 1,339 mm revenues

61 million clients

+ 30 countries

USD 75,933 mm revenues

23 million clients

+ 20 countries

USD 25,708 mm revenues

+4 countries

USD3,985 mm revenues

12 Brazil States

USD 6,123 mm revenues

17

INVESTMENTS

Highlights

FINANCIALHighlights

Overview of

MAIN INVESTMENTS

APPENDIX

18

$305.294

$690.701$843.560 $816.349

$1.013.867

$1.288.984

2011 2012 2013 2014 2015 2016

$157 $391 $438 $404 $366(USD mm) $424

$550.659 $558.518 $607.965$696.550

$1.070.859 $1.079.519

2011 2012 2013 2014 2015 2016

$1.421.664 $1.582.901$1.955.209

$2.598.215

$3.419.609$3.132.827

2011 2012 2013 2014 2015 2016

Consolidated Financial ResultsEEB has exhibited sound growth rates in terms of revenues and operating profit.

Lower net income due to

Emgesa, Codensa and Gas

Natural declaring

extraordinary dividends at the

end of 2010 based on partial

year results

Operating Revenues Operating Profit

(COP mm) (COP mm)

Consolidated Adjusted EBITDA Net Income to Common Shareholders

(COP mm)(COP mm)

$1.082.047$1.279.394

$1.775.908

$2.572.071

$1.807.667

$2.611.932

2011 2012 2013 2014 2015 2016

____________________Source: Company filings.

Note: Figures for the years 2006–2013 are presented under ColGaap standards. Figures for 2014, 2015 & 2016 are presented under IFRS standards. Figures converted at an average exchange rate of

USD/COP for 2011: $1,942.7; 2012: $1,768.2, 2013:$1,926.8; 2014: $2018.8, 2015:$2.771.5, 2016:$3,040.6. CAGR calculated in local currency.

$283 $316 $316 $345 $386(USD mm) $355$732 $895 $1,015 $1,287 $1,234(USD mm) $1,030

$705 $819 $922 $973 $871(USD mm) $859

19

Evolution of EBITDAOperational EBITDA has increased from 19% to 70% of Consolidated Adjusted EBITDA over the last 10years demonstrating increased strength of EEB’s controlled assets.

(COP mm)

Normalized Consolidated Adjusted EBITDA(1) Consolidated Adjusted EBITDA by Subsidiary

(USD mm)

Consolidated Adjusted EBITDA by Segment

EEB has significantly increased its operational EBITDA generation

____________________Source: Company filings.

Note: Figures for the years 2006–2013 are presented under ColGaap standards. For 2014, 2015 & 2016 are presented under IFRS. . Figures converted at an average exchange rate of USD/COP for 2011:

$1,942.7; 2012: $1,768.2, 2013:$1,926.8; 2014: $2018.8, 2015:$2.771.5, 2016:$3,040.6. CAGR Calculated in Local Currency. (1) Normalized of timing differences in dividends declared and paid. 2010

excludes dividends declared based on an early financial closure of Gas Natural, Emgesa 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 of 2011, were included in 2012. 2014 excludes dividends declared based on an early financial closure of Gas Natural, Emgesa and

Codensa’s financial statement, these figures are included in 2015, when such dividends would normally have been declared.

20

Financial Plan2013-2020 Investments and Funding Sources

Source: Company filings.

(1) Mainly concentrated on electricity transmission businesses (COL / Overseas).

(2) 2014 Incliudes M&A transaction IELAH Equity Portion

(3) 2015 Includes M&A transaction Brazil Equity portion

2013 – 2020 Funding Investments EEB Capex Profile

(USD mm)

USD mm %

Executed Capex 2013-2016 $1,557 50%

Expected Capex 2017 -2020(1) $1,580 50%

Cash Generation After Dividends 2016-2020 $1,130

Incremental Debt 2016-2020 $450

TOTAL 2013-2020 $3,137

21

Description of Indebtedness2013-2020 Investments and Funding Sources

Net Debt / Consolidated Adjusted EBITDA(1) Consolidated Adjusted EBITDA / Net Interest(1)

Consolidated Debt Composition Debt Maturity Profile(2)

(USD mm) (USD mm)

COP| PENUSD

2,56x 2,40x 2,63x 2,78x

3,20x

4,50x

20163Q 162Q 161Q 162015

7,40x 7,63x 7,55x

8,80x

7,30x

2,25x

20163Q 162Q 161Q 162015

$1.543$1.737 $1.733

$2.218

$3.009$2.803

$2.567

3,4% 6,4% 2,9%

2,2%

0,7% 1,2%

1,00%

96,6% 93,6% 97,1%

97,8%

99,3% 98,0%

99,0%

2010 2011 2012 2013 2014 2015 2016

125,444,7

588,0

36,9

773,7 758,7

328,7

8,7 8,7 8,7 8,7 4,4

2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028

____________________Source: Company filings.

(1) EEB isn't subject to the restricted covenants stipulated in the USD749,000,000 EEB 6.125% Senior Notes due 2021, given that EEB is rated investment grade by at least two of the three major rating

agencies. (2) Debt maturity profile as of December 2016. 2019 includes syndicated loan acquired by Contugas (USD342 mm) and additional indebtedness incurred by SPV in order to reacquire 31.92%

shares of TGI IELAH (USD184 mm outstanding debt).

22

INVESTMENTS

Highlights

FINANCIALHighlights

MAIN INVESTMENTS

APPENDIX

23

EMGESA Company OverviewEMGESA is one of the largest generators operating in Colombia with 3,469MW of installed capacity anda market share of ~21%, based on total

EMGESA is 51.5% owned by EEB and 48.5% owned by Endesa

Company completed its 400MW “El Quimbo” hydro plant in Huila department in 4Q15

● El Quimbo required a total investment of ~USD1,231 mm with the ability to

generate ~2,000 GWh per year

Other projects include 4 hydro plants with a total a installed capacity of ~1,070 MW

which are expected to generate a total of ~5,400 GWh per year

~93% of all energy produced by EMGESA comes from hydro generation facilities

Strong growth in underlying cash flows (EBITDA increasing by a 11.0% CAGR from

2011 – 2014)

Energy Generated (GWh) 14,975

Energy Sales (GWh) 18,015

Installed Capacity (MW) 3,469

Fuel Mix (Based on MW) Hydro – 93.7% / Thermo – 6.3%

Contracted Energy Sales 74%

Dispatch Factor 90.8%

Load Factor 51.9%

Company Overview Summary Financials

Key Operational Statistics (2016) Generation Evolution (2016)

(GWh) Lower generation due to lower hydro

generation (-7.2%) caused by low

precipitation in the year

Summary Income (COP mm) 2012 2013 2014 2015 2016 ´12 - ´16

Revenues $2,144,233 $2,397,428 $2,640,021 $3,268,277 $3,514,106 17.9% % Growth 12.9% 11.8% 10.1% 23.8% 7.5% --

EBITDA $1,380,920 $1,480,177 $1,730,802 $1,725,429 $1,984,481 12.8%

% Growth 9.9% 7.2% 16.9% (0.3%) 15.0% --

% Margin 64.4% 61.7% 65.6% 52.8% 56.5% --Net Income $783,529 $870,141 $1,015,945 $885,455 $753,725 (1.3%)

% Growth 17.3% 11.1% 16.8% (12.8%) (14.9%) --

% Margin 36.5% 36.3% 38.5% 27.1% 21.4% --Summary Balance Sheet

Dividends and Reserves Declared to EEB 345,963 405,659 822,548 97,751 419,300 6.6% CapEx 646,645 642,787 872,495 752,972 258,198 (26.4%)Net Debt 1,841,385 2,354,496 3,741,406 3,790,971 3,755,068 26.8% Net Debt / LTM EBITDA 1.3x 1.6x 1.5x 2.2x 1.9x --

Source: Company filings..

14.975

13.741 13.631 12.748

13.294

20162015201420132012

24

CODENSA Company OverviewCODENSA is a leading distribution company in Colombia with a market share of ~23% andapproximately 3.2 million customers.

Company Overview Summary Financials

Key Operational Statistics (2016) Energy Sales & Growth

CODENSA is 51.3% owned by EEB and 48.3% owned by Endesa

Serves nearly 3.2 million customers as of 4Q 16

Reduced energy losses from over 23% in 1997 to 10.2% in 2003 and 7.1% in 2015, its

lowest level in company history

Demand expected to continue to grow above national GDP during upcoming years

Approved project for an additional 600MW of transformation capacity to meet the

growing demand from the north of Bogota and Cundinamarca

Summary Income (COP mm) 2012 2013 2014 2015 2016 ´12 - ´16

Revenues $3,141,800 $3,212,218 $3,435,157 $3,711,866 $4,189,696 10.1% % Growth 5.2% 2.2% 6.9% 8.1% 12.9% --

EBITDA $1,090,892 $1,108,179 $1,170,377 $1,238,636 $1,409,479 8.9% % Growth 11.8% 1.6% 5.6% 5.8% 13.8% --

% Margin 34.7% 34.5% 34.1% 33.4% 33.6% --

Net Income $510,993 $535,911 $536,696 $516,935 $542,880 2.0% % Growth 11.7% 4.9% 0.1% (3.7%) 5.0% --% Margin 16.3% 16.7% 15.6% 13.9% 13.0% --

Summary Balance SheetDividends and Reserves Declared to EEB 69,624 264,951 460,699 41,040 247,050 52.5%

CapEx 241,801 280,634 373,119 537,343 643,446 38.6% Net Debt 524,517 545,203 587,065 776,801 997,756 23.9%

Net Debt / LTM EBITDA 0.5x 0.5x 0.5x 0.6x 0.7x --

Energy Sales (GWh)ResidentialOther

14,64663%37%

Total Customers (‘000s) 3,249

Customer Split: ResidentialOther

89%11%

Energy Losses (% of Energy Distributed) 7.1%

(GWh)

Losses

Ratio (%)7.8% 7.3% 7.0% 7.2% 7.1%

14.646 15.048 14.726

13.342 12.972

20162015201420132012

Source: Company filings..

25

673672

647 628

604

20162015201420132012

TGI Company OverviewTGI is one of the two main natural gas transportation companies operating in Colombia with a ~51%market share based on transported natural gas volumes.

Company Overview Summary Financials(1)

Key Operational Statistics (2016) Contracted Firm Capacity & Availability

EEB holds a 99.9% stake in TGI and consolidates the company for financial reporting

purposes

Largest natural gas transporter in Colombia with ~51% market share

Only natural gas transporter in Colombia connecting main sources of supply (Guajira

and Cusiana) with the main consumption centers

Transports gas through a network of 3,957km of pipeline

~92% of its capacity is contracted, with firm capacity contracts extending to the year

2026, ensuring a stable stream of cash flows

Summary Income (USD mm) 2012 2013 2014 2015 2016 ´12 - ´16

Revenues $391 $465 $468 $439 $433 2.6%

% Growth 15.2% 19.0% 0.6% (6.2%) -1.4% -EBITDA 293 359 372 361 $ 355 4.9%

% Growth 12.4% 22.5% 3.7% (3.0%) -1.6% -% Margin 75.0% 77.1% 79.5% 82.2% 82.0% -

Net Income 138 70 69 45 $ 111 -5.3%% Margin 35.3% 15.0% 14.7% 10.2% 25.7% -

Summary Balance SheetDividends and Reserves Declared to EEB --- --- --- 140 $ 22 -CapEx 188 35 36 29 $ 20 -42.9%Senior Net Debt 717 510 632 612 $ 753 1.2%Senior Net Debt / LTM EBITDA 2.4x 1.4x 1.7x 1.7x 2.1x -

Total Nominal Capacity (MMCF/d) 733,8

Contracted Capacity (MMCF/d) 673

Average Volume (MMCF/d) 494

Availability Factor (%) 99.9%

Annual Load Factor (%) 56.1%

Gas Pipeline Length (Km) 3,957

(MMCF; %)

Availability (%) 85% 88% 91% 94% 94%

Source: Company filings.

(1). TGI’s functional currency is the USD..

26

Cálidda Company OverviewCálidda has residential presence in 17 districts and industrial network in more than 34 districts withinLima & Callao (Metropolitan area).

Company Overview Summary Financials(1)

Key Operational Statistics (2016) Contracted Firm Capacity

Cálidda has the concession of the Peruvian State to build and operate the system of

distribution of natural gas in the Department of Lima and Callao for a period of 33 years,

renewable every 10 years to a maximum of 60 years.

Cálidda concession area concentrates more than 34% of the Peru´s population and

more than 44% of the GDP of the Peru.

Calidda´s pipeline current capacity is 420MMPCD (from Citi Gate Lurín to Lima).

Independent and regulated customers located down flow Lurín use nearly 295MMPCD,

equivalent to 70% of our capacity.

During 4Q 2016, 1,435 km of network were built, the distribution system reached a total

of 7,425 km of underground pipelines

Total Nominal Capacity (MMCF/d) 582

Contracted Capacity (MMCF/d) 602

Average Volume (MMCF/d) 618

Market Share (%) 81%

Gas Pipeline Length (km) 7,425

(MMCF; %)

Summary Income (USD mm) 2012 2013 2014 2015 2016 ´12 - ´16

Revenues $370 $461 $512 $541 $536 9.7%% Growth 25% 11% 6% -0.9%

EBITDA $64 $72 $91 $104 $124 18.1%

% Growth 12% 27% 14% - -% Margin 17% 16% 18% 19% 23.2% -

Net Income $27 $17 $35 $34 $55 19.7%% Growth -37% 111% -5% 10.3% -% Margin 4% 7% 6% $536 9.7%

Summary Balance SheetDividends and Reserves Declared to EEB - - - $32 $30 CapEx $96 $98 $83 $85 $85 -3.0%Net Debt $151 $213 $239 $266 $328 21.4%Net Debt / LTM EBITDA 2.3x 3.0x 2.6x 2.6x 2.8x

Source: Company filings.

(1) Cálidda functional currency is USD.

363 445

540 543 602

2012 2013 2014 2015 2016

27

INVESTMENTS

Highlights

FINANCIALHighlights

MAIN INVESTMENTS

APPENDIX

28

EEB has a strong corporate governance

Experienced Management and Board of Directors Corporate Governance and Transparency

The government of the District of Bogotá is responsible forappointing a majority of the members of EEB’s board of directorsand executive officers, including EEB’s president

Note: (1) The Board of Directors is responsible for establishing general business policies and guidelines, as well as long-term strategy. All directors are elected for an unlimited duration.

Directors must remain in office until their successors are elected and have taken office (2) independent member.

Source: Offering Memorandum.

Executives Position Year of a appointment

Astrid Álvarez President 2016

Leonardo Garnica Investments VP 2016

Ernesto Moreno Transmission VP 1997

Felipe Castilla Financial VP 2013

Vacancy Human Resources & Services VP

Diana Vivas Legal & Regulation VP 2016

Juan Daniel Avila Sustainable Development Director 2016

Mauro Hernan Mejia Strategic Supply Chain Director 2016

Sandra Aguillón Internal Audit Director 2011

Vacancy Communications Director

Board of Director(1) Possition Actual Position Year

Beatriz E. Arbeláez Martínez Chairman District’s Finance Secretary 2016

Jaime E. Ruiz Llano Vice-president Colvivienda CEO 2016

Roberto Holguin Director Davivienda’s among others BoD Member 2017

Gisele Manrique Director Major’s Office Chief Counsel 2016

Margarita Ma. Rehbein Dávila Director CFO Sanford Management 2016

Carlos A. Sandoval Reyes Director Structured Finance VP FDN 2016

Luis Fernando Uribe Director(2) Partner Uribe & Rodriguiez Lawyers 2017

Rafael Herz Stenberg Director(2) Asoc. Colom. del Petróleo VP 2016

Gustavo Ramirez Director(2) Investment VP Corficolombiana 2012

Shareholders’ MeetingPeak governance body

Compensation Committee andFinancial insvestments CommitteeMade up by three independent board members

External ControlsTax Review, External Audit, specialized audits, City Controllers Office, SSPD and SFC

Strategic Supply Chain Committee and Executive

Contract CommitteeAnalysis of contracting procedures

and recommendations to the Executive Committee

Audit and risk Committee

Made up by three independent board members

Corporate Governance Committee

Three board members. At least one of them must be

independent

Shareholder’s Meeting 2016 approved new bylaws which are accord to the

OECD and Circular 028 Colombian Superintendence

EEB Management policies must be approved by the BoD. The nomination and

appointment of the EEB’s CEO is rule by the BoD. More than 25% of the BoD

are independent.

High quality in disclosure standards . EEB is an issuer with IR recognition of

the Colombian Securities Exchange

29

Transmission Distribution Distribution

Electricity

Transport

Natural Gas

Generation

(1) ENFICC: Reliability - Regulated Entry Fee: 13% of revenues from Emgesa are derived from the charge for reliability (ENFICC), an income secured by the

regulation

Non-regulated

16.5%

ENFICC(1)

2.5% Regulated 81%Bilateral

Contracts:

70%

Spot:

30%

81% of revenues comes from regulated businessPredictability and stability in regulated business

30www.eeb.com.co

www.grupoenergiabogota.com/en/investors

Felipe Castilla

Canales

Julian Naranjo

Porras

Financing and IR

Manager

+57 (1) 326 8000

Ext 1536

CFOjnaranjo@eeb.com.co

ir@eeb.com.co

+57 (1) 326 8000

Ext 1501

Fabián Sánchez

Aldana

Financing & Investor

Relations Advisor GEB

+57 (1) 326 8000

Ext 1827

fsanchez@eeb.com.co

Rafael Salamanca

Rodriguez

Investor Relations

Advisor GEB

+57 (1) 326 8000

Ext 1675

rsalamanca@eeb.com.co

Investor Relations

Paola Viloria

Severiche

Financing & Investor

Relations Advisor GEB

+57 (1) 326 8000

Ext 1611

pviloria@eeb.com.co

3131

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,

investment or financial advice on any subject. This presentation does

not purport to address any specific investment objectives, financial

situation or 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. EEB is no obligation to update or keep

current the information contained herein.

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. No representation or warranty,

either express or implied, is provided in relation to the accuracy,

completeness or 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 of 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 EEB 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.

Para uso restringido GRUPO ENERGÍA DE BOGOTÁ S.A. ESP. Todos los derechos reservados. Ninguna parte de esta presentación puede

ser reproducida o utilizada en ninguna forma o por ningún medio sin permiso explícito de GRUPO ENERGÍA DE BOGOTÁ S.A ESP.