A regional Leader in the Energy Sector

1. A Regional Leader in the Energy Sector

2. EEB Corporate Structure
2
EEB generally controls its subsidiaries or partners with world class
operators following a long track record of success.
Transmission Distribution Distribution
Electricity
Transport
Natural Gas Services
Generation
51.5%
2.5% 1.7% 51%(1)
16.2%
99.97%(2)
15.6% 100%
25%
100%(3)
66%(3)
100% 51.5%
99.9%
95.3% 100%
100%
100%
40%
40%
51%(4)
51%(4)
51%(4)
51%(4)
Source: Company filings.
(1) EEB ownership through DECSA Special Purpose Vehicle. (2) EEB ownership directly and indirectly through IELAH Spain (additional 31.92%).
(3) EEB effective ownership via direct and indirect stakes. (4) Acquired on August 21, 2015 for ~USD158 mm.
Selling process Law 226 | Companies in process of merger | Companies in process of liquidation
Colombia
Peru
Guatemala
Brazil

3. Investment Highlights

4.  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
Key Investment Highlights
EEB represents an extraordinary opportunity to participate in a leading
diversified platform across regional energy markets.
Key Investment Highlights
Leading Participant in Relevant Energy Markets1
 Sound industry dynamics as well as strong growth outlooks for electricity and natural gas sectors in Colombia, Peru and Guatemala
provide significant growth opportunities for EEB and its subsidiaries
Strong Footprint in Attractive Energy Markets in LatAm2
 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 Planning3
 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 Shareholders4
 EEB has successfully accessed the debt and equity markets in recent years to help finance important investment plans, including the
acquisition of a 32% stake in TGI. Several liability management transactions undertaken to reduce EEB’s overall financial costs
Continued Access to Financial Markets to Fund Expansions5
 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 Partners6
4

5. Leading Participant in Relevant Energy Markets
5
1
Electricity
EEB’s subsidiaries have market leading participations across the energy
chain in Colombia, Peru and Guatemala.
Natural Gas
Generation
Market Share Inst. Capacity (%)
Market Share Generation (%)
# 3 Colombia
19.1%
21.2%
Transmission
Market Share (%)
(Km of lines)
# 2 Colombia
10.1%
Distribution
Market Share (%)
(Kwh)
# 1 Colombia
26.6%
Transmission
Market Share (%)
(Km of 220-138 kV lines)
# 1 Peru
57.6%
Transmission
Project Ongoing
(850 Km L/T and 24 S/E)
# 1 Guatemala
Distribution
Market Share (%)
(No. clients)
# 1 Colombia
59.0%
Transportation
Market Share (%)
(Average volume transported)
# 1 Colombia
87.0%
Distribution
Market Share (%)
(No. clients)
# 1 Perú
100.0%
Source: EEB, UPME, OSINERGIM, CNEE.

6. 860 892 905
1,047
1,106
1,285
2010 2011 2012 2013 2014 … 2018E
2,900 2,774
3,982
4,459
4,700
5,161
2010 2011 2012 2013 2014 … 2018E
Source: ANH, MEM, UPME (medium scenario).
Perú
Strong Footprint in LatAm Natural Gas Markets…
6
2
Colombia
Natural Gas Footprint Natural Gas Footprint
Natural Gas Demand (mcfd) Natural Gas Demand (mcfd)
Proved
Reserves
14,626
BCF
Residential
Industrial
Natural Gas Pipeline
Main grid expansion
EEB is well positioned to benefit from the expected growth in the natural gas
sector via its investments in TGI, Gas Natural, Promigas, Calidda & Contugas.
References
Natural Gas Reserves
City
Field
Bucaramanga
Bogota
Neiva
Cali
Medellin
3.15 tcf
1.97 tcf
Eastern
Producers:
Ecopetrol
Equion
Upper Magdalena Valley
Lower and Middle
Magdalena Valley
Northern Producers:
Chevron Ecopetrol
1.89 tcf
Ballena
Cusiana

7. 56,148 57,157 59,367 60,885
63,964
73,867
2010 2011 2012 2013 2014 … 2018E
…And in LatAm Electricity Markets As Well
7
2
ColombiaElectricity Demand
(GWh)
Perú Guatemala
Source: ANH, MEM, UPME (medium scenario).
Sound electricity industry dynamics expected to positively impact EEB’s
performance, via its investments in Codensa, Emgesa, among others.
32,314
36,779
40,940
43,559 43,102
67,492
2010 2011 2012 2013 2014 … 2018E
8,134 8,473 8,730 8,945 9,231
12,630
2010 2011 2012 2013 2014 … 2018E

8. $ 700,443
$ 826,676
$ 632,706
$ 556,743
$ 705,122
$ 990,976
2010 2011 2012 2013 2014 2015
$769,161 $820,851
$948,514
$1,113,894
$1,365,600
$1,675,765
2010 2011 2012 2013 2014 2015
$3,311,701
$3,513,739
$3,699,245 $3,802,041
$4,092,963
$4,412,222
2010 2011 2012 2013 2014 2015
$1,237,673
$1,693,167
$1,902,952
$2,183,395
$2,530,768
$3,370,038
2010 2011 2012 2013 2014 2015
Growing Revenue Base…
8
3
Natural Gas Distribution Revenue Electricity Distribution Revenue
Natural Gas Transportation Revenue Electricity Transmission Revenue
(COP mm)
As a result of participating in a regulated industry, EEB’s revenues are stable
and predictable (81% of total revenues come from regulated businesses)
(COP mm)(COP mm)
Source: Company filings.
Note: Total of operating revenues per company – aggregated figures for comparable purposes.
Average COP/USD exchange rates used for every year were the following; 2010:$1,914; 2011: $1,943; 2012: $1,768, 2013:$1,927; 2014: $2,393, 2015:$3.149.
(COP mm)
$647 $872 $1,076 $1,133 $1,145 $1,079(USD mm) $1,730 $1,809 $2,092 $1,973 $1,711 $1,401(USD mm)
$402 $423 $536 $578 $571 $537(USD mm) $366 $426 $358 $289 $295 $317(USD mm)
REP
CTM
EEB Transmission
TGI
PROMIGAS
GAS NATURAL
CALIDDA
CODENSA
EEC
EMSA

9. … Propelled by a Solid Capex Plan
9
3
Associates
Revenue growth has been sustained by a strong capex plan at the subsidiary
and the associate level.
Source: Company filings.
(1) Includes Brazil acquisition 3Q Equity portion USD 55 Mm
(2) Expected annual revenues.
Executed Capex by Segment(1) Executed Capex by Segment
Projects Update (2015)
UPME Project Status
EAR(2)
USD MM
On Stream
Chivor II 50.9% 5.5 08/07/2017
Cartagena Bolívar 32.4% 11.2 07/03/2017
Río Córdoba 32.5% 1.8 30/11/2016
Armenia 94.0% 1.3 26/11/2015
Tesalia 80.0% 11.0 14/02/2016
Sogamoso Norte 25.1% 21.1 30/09/2017
Refuerzo Suroccidental 500 kV 7.0% 24.4 30/09/2018
Ecopetrol San Fernando 18.4% N.A 30/04/2017
Río Cordoba Transformadores 28.9% 0.6 30/11/2016
La Loma 26.8% 1.3 30/11/2016
Projects Update
 El Quimbo Project (400 MW)
 Total investment: USD1,231 mm (including
contingencies)
 Execution 4Q15: 96.6%
 Full operation: 4Q15
Subsidiaries
Capex by Company (2015)
Capex by Company (2015)
 On-going projects: Nueva Esperanza, Norte
 Concluded first stage of Public Lightning
Modernization project
 Started Bacatá Substation operations
(0.5 MW)
36
24
143
130
264
29
32
101
131
55
Gas Transportation
Electricity Distribution
Gas Distribution
Electricity Transmission
M&A
2015 2014
EEC
9.1% TGI
8.4%
Contugas
4.6%
Cálidda
24.4%
Trecsa
15.1%
EEBIS
GTM/PE
11.9%
EEB Trans.
10.8%
Gebbras
15.7%
14
156
220
31
365
10
144
160
47
430
Gas Distribution
Gas Transportation
Electricity Distribution
Electricity Transmission
Electricity Generation
2015 2014
Emgesa
54.4%
Gas Natural
1.2%
REP
6.6%
Codensa
18.2%
Promigas
6.0% CTM
13.6%

10. 10
Historical Share Price Evolution – Last 12 Months
• Ticker EEB: CB
• As of December 31st , 2015 EEB’s market capitalization was USD 5.0 Billion
• The stock is part of COLCAP, COLEQTY and COLIR
• Target Price as of December 31st , 2015 was COP1,885 (USD 0.59) (1)
 Potential upside return: 9.5%
Track Record of Creating Value – Share Price
Appreciation
4
EEB’s shares have outperformed the Colcap, MSCI EM LatAm and the S&P 500
over the last year providing stable returns in a volatile market environment.
Source: Bloomnerg as of December 31st 2015.
(1) Average target price calculated as the average of the following brokers: Credicorp: COP1,810; BTG: COP1,820; Gobal Securities Colombia: COP1,900;
Asesores en Valores: COP1,740; Corredores Asociados: COP1,940; Ultrabursatiles: COP1,850 & Valores Bancolombia: COP1,810. Larrainvial: COP 2,050.
69.94
102.41
60
70
80
90
100
110
120
0.0000011
0.000011
0.00011
0.0011
0.011
0.11
sep 2014 oct 2014 nov 2014 dic 2014 ene 2015 feb 2015 mar 2015 abr 2015 may 2015 jun 2015 jul 2015 ago 2015 sep 2015 oct 2015 nov 2015 dic 2015
Volume EEB COLCAP Index EEB CB Equity

11. 11
(COP / Share)
Source Company filings.
(1) The values of years prior to 2011 dividend were adjusted split 100:1, which applies the 20.06.11 shares. Outstanding shares of November 11: 9,181,177,017.
(2) EEB decreed no dividends in 1Q 11 and 1Q 15 due to an anticipated close of the financial statements.
(USD mm)
Track Record of Creating Value – Dividends Paid4
EEB receives a stable flow of dividends from subsidiaries with dividend
policies that promote maximum payout ratios.
Dividend YieldDividends per Share(1)(2)
Dividend Payout Ratio Evolution
(COP / Share)
$34.0
$82.0
$34.9
$44.0
$64.3
$119.9
$50.0
$24.4
1Q 10 4Q 10 1Q 11 1Q 12 1Q 13 1Q 14 4Q 14 1Q 15 3Q 15 1Q 16
$0.04 $0.02 $0.02 $0.03(USD) $0.02 $0.05-- -- $0.02 $0.01
$1,190
$1,745
$1,175
$1,270
$1,535
$1,700 $1,720
$1,476
2.9%
4.7%
3.0%
3.5%
4.2%
7.1%
4.3%
4.2%
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
$1,800
$2,000
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
2010 2011 2012 2013 2014 2015 2016 Avg 2010-
2015
Closing Share Price at the End of the Previous Year in COP Dividend Yield
$98
$354
$571
$157
$391
$438
$419
$272
$337
$138 $143
$368
$165
$228
$307
$470
$71
$236
141%
40%
64%
105%
58%
70%
112%
26%
77%
$0
$100
$200
$300
$400
$500
$600
0%
20%
40%
60%
80%
100%
120%
140%
160%
2008 2009 2010 2011 2012 2013 2014 2015 Avg 2008-2015
Net Profit Dividends Value Dividend Payout + Including Released Reserves

12. TGI Bond 9.5%
$750 mm
Liability Management
EEB Bond 6.125%
$610 mm
Re Opening EEB Bond
$139 mm
TRECSA Loan
$87 mm
Cálidda Bond 4.375%
$320 mm
IELAH Syndicated
Loan
$645 mm
CAF Loan
$100 mm
EEB Bond 8.75%
$610 mm
Re-IPO
$415 mm
Liability Management
TGI Bond 5.7%
$750 mm
Contugas
Syndicated Loan
$310 mm
Contugas Addition
$24 mm(1)
2007 2008 2011 2012 2013 2014
$596 mm
Local AAA - F1 + (col)
Fitch BBB; stable
S&P BBB-; stable
Moodys Baa2; stable
$460 mm
Local AAA
S&P BBB-; stable
Fitch AAA F1+; stable
Moodys Baa3; neg
12
Transactions Executed in the Capital Markets
Outstanding Bonds
Controlled Subsidiaries Non-Controlled Subsidiaries
Issuer
Baa2
BBB-
AAA (Col)
$749 mm
EEB 2021
Moody’s Baa2; stable
S&P BBB-; negative
Fitch BBB; stable
$750 mm
TGI 2022
Moody’s Baa3; stable
S&P BBB-; negative
Fitch BBB; stable
Issuer
Baa3
BBB-
BBB
$320 mm
Cálidda 2023
Moody´s Baa3; Stable
S&P BBB-; Negative
Fitch BBB-; Positive
Issuer
Baa3
BBB-
BBB-
$1,655 mm
Local AAA
S&P BBB-; stable
Fitch BBB-; stable
$450 mm
Local AAA
$556 mm
Local AAA
Fitch AAA; stable
$487 mm
Local AAA
$270 mm
Local AAA
Continued Access to Financial Markets to Fund
Expansions
5
EEB has successfully accessed the debt and equity capital markets in
recent years, helping finance important investments.
Source: Company filings.
(1) An additional USD8 mm will be disbursed during 2015.
(USD mm)
(USD mm)

13. A Regional Leader in the Energy Sector
Strong Shareholders and Partners
13
6
EEB has strong relationships with its shareholders, including the
Government of Bogotá, as well as with its partners (e.g. Endesa, Gas
Natural, ISA, etc.)
Ownership Structure – December 2015 Key Partners (2015)
Shareholders Composition (Post Ecopetrol Phase I)
Source: Company filings.
 20 million clients
 25 countries
 USD32,819 mm revenues
 2 million clients
 4 countries
 USD994 mm revenues
 9 countries
 USD1,959 mm revenues
 61 million clients
 40 countries
 USD97,266 mm revenues
Bogota D.C.
76.28%
Ecopetrol
3.03%
Corficol
3.56%
AFPs
14.87%
Retail
Investors
2.26%
 12 Brazil States
 USD1,519 mm revenues

14. Financial Highlights

15. $1,092,944
$305,294
$690,701
$843,560 $816,349
$1,013,867
2010 2011 2012 2013 2014 2015
$1,806,889
$1,082,047
$1,279,394
$1,775,908
$2,572,071
$2,413,812
2010 2011 2012 2013 2014 2015
$268,287
$550,659 $558,518
$607,965
$696,550
$1,070,859
2010 2011 2012 2013 2014 2015
$932,435
$1,421,664
$1,585,105
$1,958,521
$2,598,215
$3,419,609
2010 2011 2012 2013 2014 2015
Consolidated Financial Results
15
Source: Company filings.
Note: Figures for the years 2006–2013 are presented under ColGaap standards. Figures for 2014 & 2015 are presented under IFRS.
Operating Revenues Operating Profit
(COP mm) (COP mm)
Consolidated Adjusted EBITDA Net Income to Common Shareholders
(COP mm)(COP mm)
EEB 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
$283 $316 $316 $345(USD mm) $140 $390$732 $896 $1,016 $1,287 $1,244(USD mm) $487
$557 $724 $922 $1,274(USD mm) $944 $878 $157 $391 $438 $341(USD mm) $571 $369

16. (COP mm)
Evolution of EBITDA
16
Source: Company filings.
Note: Figures for the years 2006–2013 are presented under ColGaap standards. For 2014 & 2015 are presented under IFRS
(1) Normalized for timing differences in dividends declared and paid. 2010 excludes dividends declared based on an early close 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 2011, were included in
2012. 2014 excludes dividends declared based on an early close of Gas Natural, Emgesa and Codensa’s financial statements. These figures are included in 2015, when such dividends
would normally have been declared.
Normalized Consolidated Adjusted EBITDA(1) Consolidated Adjusted EBITDA 4Q 15 by Subsidiary
(USD mm)
Consolidated Adjusted EBITDA 4Q 15 by Segment
EEB has significantly increased its operational EBITDA
generation
Operational EBITDA has increased from 19% to 64% of Consolidated
Adjusted EBITDA over the last 10 years demonstrating increased strength
of EEB’s controlled assets.
64%
56%
52%
55%
56%
39%
45%
44%33%
19% 36%44%48%
45%44%
61%
55%56%
67%
81%
2,413,812
1,964,666
1,775,908
1,447,335
1,369,533
1,122,343
1,053,942
934,163949,599
539,319
878973922819705586516416471241
2015201420132012201120102009200820072006
Operational EBITDA
Dividends
EEB
Transmisión,
Trecsa &
EEBIS Guate
5%
TGI
43%
Decsa/EEC
4%
Cálidda,
Contugás &
EEBIS Perú
13%
Emgesa
19%
Codensa
9%
Gas
Natural
3%
Promigás
2%
ISA, REP &
CTM
1%
Otros
1%
Electricity
Generation
19.9%
Electricity
Transmission
6.1%
Electricity
Distribution
13.2%
Gas
Transportation
45.1%
Gas
Distribution
15.4%
Others
0.2%

17. 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
Financial Plan
2013-2019 Investments and Funding Sources
17
2013 – 2019 Funding Investments EEB Capex Profile – Controlled Companies
(USD mm)
64 80 69
153
204 21184 74 94
126
93
35 36 29
77 29
11
12 11
202
143
101
108
94
82
80 81
264
55
$386
$597(2)
$347(3)
$465
$420
$304
$92 $92
2013 2014 2015 2016E 2017E 2018E 2019E 2020E
Electricity Colombia Electricity Overseas Natural Gas Colombia
Natural Gas Overseas M&A Natural Gas M&A Electricity
USD mm %
Executed Capex 2013-2015 $1,330 49%
Cash Generation After Dividends 2016-2020 $1,147 42%
Incremental Debt 2016-20 $225 8%
Subtotal 2016-2020(1) $1,372 51%
TOTAL 2013-2019 $2,712

18. 18
Description of Indebtedness
Net Debt / Consolidated Adjusted EBITDA(1)(2)(3) Consolidated Adjusted EBITDA / Net Interest(1)(2)(3)
Consolidated Debt Composition Debt Maturity Profile
(USD mm) (USD mm)
Source: Company filings.
(1) Covenant associated to this indicator is currently suspended since the bond EEB 2021 has investment grade, granted by three risk rating agencies monitoring the latter. Covenant
established in Offering Memorandum of USD749,000,000 EEB 6.125% Senior Notes due 2021. It includes anticipated dividends.
(2) 2015 EBITDA includes dividends declared based on 2014 early close of Gas Natural’s, Emgesa’s and Codensa’s financial statements
(3) Increase is mainly explained by increase of foreign exchange (USD/COP movements).
(4) 2019:Syndicated loan acquired by Contugas (USD342 mm) and additional indebtedness incurred by SPV in order to reacquire 31.92% of TGI IELAH (USD219 mm).
Indebtedness in USD increased as a result of TGI’s shares
acquisition (31.92%) through IELAH’s SPV
3.20x3.27x
2.41x
3.03x
2.09x
4.50x
20153Q 152Q 151Q 152014
$1,543 $1,737 $1,733
$2,218
$3,009 $2,803
3.4%
6.4% 2.9%
2.2%
0.7%
1.2%
96.6%
93.6% 97.1%
97.8%
99.3%
98.0%
2010 2011 2012 2013 2014 2015
158.8
127.4
31.0
584.4
8.1
749.0 750.0
320.0
2016 2017 2018 2019 2020 2021 2022 2023
7.30x
11.12x
15.83x
15.47x
11.80x
2.25x
20153Q 152Q 151Q 152014

19. Overview of Main Investments

20. EMGESA Company Overview
20
EMGESA is one of the largest generators operating in Colombia with
3,459MW of installed capacity and a market share of ~21%, based on total
electricity generated in 2015.
 EMGESA is 51.5% owned by EEB and 48.5% owned by Endesa
 Company is set to complete its 400MW “El Quimbo” hydro plant in Huila
department in 4Q15
● At completion, El Quimbo is expected to have 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) 10,761
Energy Sales (GWh) 16,886
Installed Capacity (MW) 3,459
Fuel Mix (Based on MW) Hydro – 89%
Thermo – 11%
Contracted Energy Sales(1) 52%
Dispatch Factor 90.8%
Load Factor 51.9%
Company Overview Summary Financials
Key Operational Statistics (2015) Generation Evolution
(GWh)
(COP mm)
Source: Company filings.
(1) Based on 2014 revenues.
Lower generation due to
lower hydro generation
(-7.2%) caused by low
precipitation in the year
13,74113,631
12,748
13,294
12,092
20152014201320122011
SummaryIncome 2011 2012 2013 2014 2015 ´11 - ´15
Revenues $1,899,062 $2,144,233 $2,397,428 $2,607,960 $3,268,277 19.8%
% Growth 0.7% 12.9% 11.8% 8.8% 25.3% --
EBITDA $1,256,231 $1,380,920 $1,480,177 $1,728,343 $1,725,429 11.2%
% Growth 12.9% 9.9% 7.2% 16.8% (0.2%) --
% Margin 66.2% 64.4% 61.7% 66.3% 52.8% --
Net Income $667,755 $783,529 $870,141 $1,012,091 $885,455 9.9%
% Growth 16.7% 17.3% 11.1% 16.3% (12.5%) --
% Margin 35.2% 36.5% 36.3% 38.8% 27.1% --
Summary Balance Sheet
Dividends and
Reserves Declared to
EEB 80,537 343,894 405,659 739,668 1,045,672 135.0%
CapEx 290,407 646,645 642,787 872,495 752,972 37.4%
Net Debt 1,615,117 1,841,385 2,354,496 2,673,539 3,790,971 32.9%
Net Debt / LTM
EBITDA 1.3x 1.3x 1.6x 1.5x 2.2x --

21. CODENSA Company Overview
21
CODENSA is a leading distribution company in Colombia with a market
share of ~23% and approximately 2.8 million customers.
 CODENSA is 51.5% owned by EEB and 48.5% owned by Endesa
 Serves nearly 2.8 million customers as of 4Q 14
 Reduced energy losses from over 23% in 1997 to 10.2% in 2003 and 7.2% in
2014, 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
Company Overview Summary Financials
Key Operational Statistics (2015) Energy Sales & Growth
(GWh)
(COP mm)
Energy Sales (GWh)
Residential
Other
13,937
33%
67%
Total Customers (‘000s) 2,865
Customer Split:
Residential
Other
89%
11%
Energy Losses (% of Energy Distributed) 7.2%
Source: Company filings.
Losses
Ratio (%) 7.8% 7.3% 7.0% 7.2% 7.2%
13,937
13,667
13,342
12,972
12,424
LTM 3Q 152014201320122011
Summary Income 2011 2012 2013 2014 2015 ´11 - ´15
Revenues $2,986,153 $3,141,800 $3,212,218 $3,435,157 $3,711,866 7.5%
% Growth 7.1% 5.2% 2.2% 6.9% 8.1% --
EBITDA 976,001 1,090,892 1,108,179 1,170,377 1,238,636 8.3%
% Growth (0.8%) 11.8% 1.6% 5.6% 5.8% --
% Margin 32.7% 34.7% 34.5% 34.1% 33.4% --
Net Income 457,664 510,993 535,911 536,696 516,935 4.1%
% Growth (4.7%) 11.7% 4.9% 0.1% (3.7%) --
% Margin 15.3% 16.3% 16.7% 15.6% 13.9% --
Summary Balance Sheet
Dividends and Reserves
Declared 237,157 69,624 264,951 463,156 552,744 32.6%
CapEx 306,246 241,801 280,634 373,119 537,343 20.6%
Net Debt 650,350 524,517 545,203 587,065 776,801 6.1%
Net Debt / LTM EBITDA 0.7x 0.5x 0.5x 0.5x 0.6x --

22. TGI Company Overview
22
TGI is one of the two main natural gas transportation companies operating
in Colombia with a ~49% market share based on transported natural gas
volumes.
 EEB holds a 99.9% stake in TGI and consolidates the company for financial
reporting purposes
 Largest natural gas transporter in Colombia with ~50% 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
 ~89% of its capacity is contracted, with firm capacity contracts extending to the
year 2021, ensuring a stable stream of cash flows
Total Nominal Capacity (MMCF/d) 733,8
Contracted Capacity (MMCF/d) 672
Average Volume (MMCF/d) 522
Availability Factor (%) 100%
Annual Load Factor (%) 66.9%
Gas Pipeline Length (Mi) 2,459
Company Overview Summary Financials
Key Operational Statistics ( 2015) Contracted Firm Capacity & Availability
(MMCF; %)
(COP mm)
Source: Company filings.
(1) LTM financials reported in USD and converted at average COP/USD exchange rate of $2,585 and EOP exchange rate of $2,600.
Availability (%) 99.6% 99.9% 100.0% 99.9% 100.0%
672
647
621
604
560
20152014201320122011
Summary Income Statement 2011 2012 2013 2014 2015 CAGR
Revenues $626,838 $702,309 $874,645 $946,752 $1,215,232 14.7%
% Growth 12.1% 12.0% 24.5% 8.2% 28.4% --
EBITDA 481,570 526,721 674,163 753,904 998,702 16.1%
% Growth 12.0% 9.4% 28.0% 11.8% 32.5% --
% Margin 76.8% 75.0% 77.1% 79.6% 82.2% --
Net Income 25,614 247,680 130,067 144,943 127,766 78.2%
% Margin 4.1% 35.3% 14.9% 15.3% 10.5% --
Summary Balance Sheet
Dividends and Reserves Declared --- --- --- 440,005--- NA
CapEx 712,311 332,873 63,967 86,510 91,794 (50.5%)
Net Debt 1,280,496 1,266,880 982,400 1,583,874 2,735,740 7.3%
Net Debt / LTM EBITDA 2.7x 2.4x 1.5x 2.1x 2.7x --

23. Cálidda Company Overview
23
Cálidda has residential presence in 17 districts and industrial network in
more than 34 districts within Lima & Callao (Metropolitan area).
 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 the first quarter, 279 km of network were built, being mostly polyethylene
(270 km), whereby the distribution system reached a total of 4,957 km of
underground pipelines.
Company Overview Summary Financials
Key Operational Statistics (2015) Contracted Firm Capacity & Availability
(MMCF; %)
(COP mm)
Total Nominal Capacity (MMCF/d) 572
Contracted Capacity (MMCF/d) 543
Average Volume (MMCF/d) 547
Market Share (%) 230
GNV stations Service (%) 77.91%
Gas Pipeline Length (km) 5,989
Source: Company filings.
(1) LTM financials reported in USD and converted at average COP/USD exchange rate of $3,122 and EOP exchange rate of $2,540.
543540
445
363
2015201420132012
Summary Income Statement 2012 2013 2014 2015
CAGR
´11 -
´15
Revenues $654,339 $888,051 $1,017,067 $1,416,386 29.4%
% Growth - 35.7% 14.5% 39.3% --
EBITDA 113,959 138,942 204,098 327,592 42.2%
% Growth - 21.9% 46.9% 60.5% --
% Margin 17.4% 15.6% 20.1% 23.1% --
Net Income 46,858 32,232 86,002 105,897 31.2%
% Growth - (31.2%) 166.8% 23.1% --
% Margin 7.2% 3.6% 8.5% 7.5% --
Summary Balance Sheet
Dividends and Reserves
343,894 405,659 822,548- 33.7%
CapEx 169,793 204,440 254,246 0 14.4%
Net Debt 269,547 414,349 575,595 0 28.8%
Net Debt 2.4x 3.0x 2.8x 0.0x --

24. Appendix

25. 25
El Quimbo will be the first hydroelectric project built by a private company
in Colombia. The project will provide EMGESA with an additional 400MW of
installed capacity.
EMGESA Projects: El Quimbo
Project Overview
 El Quimbo is a reservoir located on the Magdalena River, 12
km ahead of the Betánia hydroelectric power plant
● The project has a total area of 8,586 hectares covering 6
municipalities including Gigante, Garzón, Altamira, El
Agrado, Paicol and Tesalia
 The hydroelectric project will use Francis turbines with an
installed capacity of 400MW (2 x 200MW)
 The plant will generate approximately 2,216GWh per year with
an estimated load factor of 60%
 The environmental license was obtained in May 2009 and
works will continue until 2015 when the dam will start
operating
 Other considerations:
● El Quimbo will improve EMGESA’s operations since it will
increase its regulation capacity
● The project will provide firm electricity production until
2034 and will cover approximately 8% of the national
demand
● Will ensure the future reliability of electricity supply in
Colombia
Project Footprint
Total Investment: USD1,231 mm
Project Executed: 97%
Full Operation: 4Q15
El Quimbo
Bogotá
Betánia
Source: Company filings.

26. 26
TGI has undertaken an aggressive expansion plan as illustrated by its
portfolio of projects.
TGI Projects
Project Overview Project Footprint
Cusiana
Phase III
Armenia
Loop
Cusiana
Apiay Ocoa
 Enhance the capacity of the pipeline compression in the stretch Cusiana
Vasconia, through the provision and operational startup of three new
natural gas compression units
 The project will increase capacity by 20 Mmcfd and entails an investment
of approximately USD31 mm
 Operational start-up will occur during 1Q 2016
 As of today the project progress is at 48%
 Increase the pipeline’s transportation capacity of Cusiana – Apiay in 32
Mmcfd and the stretch Apiay – Ocoa in 7 Mmcfd
 The project will allow supplying the natural gas demand of clients to
thermal generation, residential distribution and industrial consumption
 Total investment is ~USD48 mm
 Expected operation is expected for the first half of 2017
 Increase current transportation capacity by 2.2 mpcd by building a
37.5km loop
 Investment of USD18 mm with expected start of operations in 2Q 2017
Source: Company filings.

27.  EEB acquires 40% of REP’s (2002)
and CTM (2006) stocks.
Over than 100 year of energy
Transformation
Diversification
 Private and vertically
integrated company
serving the market of
Bogotá.
Foundation
Internationalization
 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).
New Parent Company Diversification
 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).
Growth
 EEBIS Gt is constituted in
Guatemala (2011). EEBIS
Pe is constituted in Perú
(2013)
 EEB continues its
expansion in Transmission
Colombia (UPME Projects):
2012:Armenia/Alferéz/Tesa
lia; 2013: Norte, Chivor II
and SVC Tunal
Expansion
 EEB acquired 31.92% of TGI (2014) owned by The
Rohatyn Group, (formerly CVCI) amounting USD
880 million.
 CONTUGAS, inaugurated the Ica Regional Pipeline
(2014), Southern of Perú contributing to the
massification of natural gas in Peru. EEB’s
investment reached USD 345 million.
 TRECSA energized five new transmission
substations Pacifico, La Vega II, Chixoy II, San
Agustin, Rancho 69 kV in Guatemala
 EEB continues its expansion in Transmission
Colombia (UPME Projects):2014: Second
Transmission Line Bolívar - Cartagena 220 kV,
Sogamoso - Norte – Nueva Esperanza 500 Kv,
Substation Rio Cordoba 220 kV. 2015:
Reinforcement infrastructure in southwestern
Colombia, Magdalena , La Loma 500kV Substation
and the connection of Ecopetrol to the STN
Consolidation
2002 2005 - 2007199719591896 2008 - 2009 2010 - 2011 2012 - 2013 2014 - 2015

28. 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.
Experienced Management and Board of Directors Corporate Governance and Transparency
 The Board of Directors has created operations, management and
control committees to aid in efficiently carrying out the activities of the
Company
 The government of the District of Bogotá is responsible for appointing a
majority of the members of EEB’s board of directors and executive
officers, including EEB’s president
Audit Committee
Made up by three independent
board members
Corporate Governance
Committee
Three board members. At least
one of them must be
independent
Contracts Committee
Analysis of contracting
procedures and
recommendations to the
Executive Committee
External Controls
Tax Review, External Audit,
specialized audits, City
Controllers Office,
SSPD and SFC
Shareholders’ Meeting
Peak governance body
 High quality practices and standards in accordance with national listing
requirements given that EEB is listed on the Colombian stock exchange
EEB has experienced management and strong
corporate governance
Board of Director(2) Possition Actual Possition Year
Beatriz E. Arbeláez Martínez President Secretaria de Hacienda 2016
Jaime E. Ruiz Llano Vice-president Presidente Colvivienda 2016
Alberto Gutiérrez Bernal Director
Presidente Titularizadora
Colombiana.
2016
Gisele Manrique Director Asesor Independiente 2016
Margarita Ma. Rehbein Dávila Director CFO Sanford Management 2016
Carlos A. Sandoval Reyes Director VP Estructuración FDN 2016
Antonio J. Núñez Trujillo Director(3) Socio Nuñez Rincon Abogados 2016
Rafael Herz Stenberg Director(3)
Asesor independiente y VP de la
Asociación Colombiana del
Petróleo
2016
Gustavo Ramirez Director(3) VP Inversiones Corficolombiana 2012
Executives(1) Possition Year of a appoiment
Astrid Álvarez Hernández President 2016
Leonardo Garnica VP Portfolio & Corporate Planning 2016
Felipe Castilla VP Financial 2013
Lina Toro VP Administrative 2016
Ernesto Moreno VP Transmission 1997
Diana Margarita Vivas Munar Legal Counsel 2016
Sandra Milena Aguillón Rojas Internal Audit Director 2011
Gabriel Rojas Subsidiaries Technical Director 2015
Fabiola Leal
Corporate Affairs Director of
Subsidiaries
2014

29. 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
Regulated
81%
Non-
regulated
16.5%
ENFICC *
2.5%
Electricity Natural Gas
Spot
30%
Bilateral
Contracts
70%
Predictability and
stability in regulated
revenues
29
Services
Generation Transmission Distribution Transport Distribution Services

30. 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.
30

31. 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
Fabián Sánchez Aldana
Investor Relations Advisor GEB
+57 (1) 3268000 – Ext 1827
fsanchez@eeb.com.co
Rafael Andrés Salamanca
Investor Relations Advisor GEB
+57 (1) 3268000 – Ext 1675
rsalamanca@eeb.com.co
Felipe Castilla Canales
+57 (1) 326 8000 - Ext 1501
ir@eeb.com.co
31