As we strive to connect markets to sources of energy, we generate value by building long-term, mutually beneficial relations with interest groups.

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3 As we strive to connect markets to sources of energy, we generate value by building long-term, mutually beneficial relations with interest groups.

4 Promigas More than 40 years of taking progress and wellbeing to Colombia and Peru as we carry out our activities effectively and responsibly. We transport 52% of Colombia s natural gas through a network of more than 3,000 km of gas pipelines belonging to ourselves and to our carriers, and we provide services for hydrocarbon producers and big industries that include natural gas compression and dehydration, the construction of gas pipelines and interconnection lines, and energy solutions such as generation, cogeneration and self-generation. Our affiliate Sociedad Portuaria El Cayao (SPEC) operates a floating regasification terminal that is permanently anchored at a port in Cartagena Bay, where it processes more than 400 Mpcd. It is the first of its kind in the country, and not only will it ensure that the natural gas needs of electricity generating companies can be met at times of peak demand, it will also make it possible for the country to access the international LNG market. In Colombia, we distribute natural gas to around 3.4 million users, which is nearly 40% of the domestic market and translates into around 12 million beneficiaries, while in Peru we distribute to over 575,000 users through our share in Cálidda and Quavii and will reach a further 150,000 users in the north of the country in the next five years. We operate and maintain approximately 26,000 km of electricity distribution networks, providing around 370,000 users with this service in 38 towns in the south of the country.

5 We develop energy markets directly and through our strategic transportation and distribution business groups. The former consists of organizations involved in the transportation of natural gas and liquefied natural gas (LNG), the provision of integrated solutions for industry, and energy generation, and the latter of natural gas distribution companies, electricity utility and the non-banking finance business. We have been involved in the Natural Gas for Vehicles (NGV) business, which we pioneered, for more than 24 years. This has had positive economic and environmental impacts, due to the very characteristics of the fuel, and we continue to search for new growth opportunities. We have an AAA rating for issues in Colombia and an international BBB- rating for local and foreign currency IDR issues. We also hold ISO 9001 quality system, OHSAS occupational health and safety, and ISO environmental certifications. We are committed to the Global Compact and its principles, including the Caring for Climate initiative and the United Nations Sustainable Development Goals. We constantly check the sustainability of our activities and we compare ourselves against the highest standards on the subject, such as the Dow Jones Sustainability Index, which allows us to progress and to fill in any gaps that might be identified, in order to improve our economic, social and environmental performance. Promigas has led the natural gas revolution in Colombia by creating a positive economic, social and environmental impact.

6 TRANSPORTATION BUSINESSES Our Businesses 550 Employees USD 452 million of revenue USD 2,875 million of assets Colombia NATURAL GAS TRANSPORTATION Promigas Promioriente Transmetano Transoccidente Gas pipeline: 3,089 km Capacity: MMSCFD Customers: 21 in different regions of Colombia Peru INTEGRATED SOLUTIONS FOR INDUSTRY AND ENERGY GENERATION Promisol Zonagen Dehydration capacity: 135 MMSCFD Compression capacity: 18,100 HP Cogeneration plants capacity: 43,75 MW 17 companies, 3500 employees, Colombia, Peru LNG Sociedad Portuaria El Cayao (SPEC) Regasification capacity: 400 MMSCFD Storage capacity: 170,000 m3

7 IN 2017 DISTRIBUTION BUSINESSES 2,917 Employees NATURAL GAS DISTRIBUTION USD 816 million of revenue Surtigas GdO Gases del Caribe Efigas Gases de La Guajira Cálidda Quavii USD 962 million of assets Accumulated users: 3,986,123 Gas sales: 8,748 m3 Promigas obtained international loans totaling USD 200 million Fourteen banks in Canada, Chile, Italy, Japan, Peru, Spain and the United States took part in a USD 200 million syndicated loan to Promigas. These funds have made it possible to finance the necessary infrastructure for transporting higher volumes of gas from the southern part of Colombia s Atlantic coast, and to have more fuel available for final users. Funds have also been allocated to financing the consolidation of operations in Peru through Quavii, an affiliate that serves seven cities in the north of the country. Because of this operation, Promigas was chosen from three hundred organizations in the region as one of three finalists for the Financial Business of the Year - Latin America 2017 award, made by British company GFC Media Group, which specializes in emerging market intelligence. ELECTRICITY DISTRIBUTION Compañía Energética de Occidente (CEO) Customers: 367,258 Energy required: 693 GWh Networks: 26,543 km Loans granted: 2,154,648 Promigas obtained rating ratification by Fitch Ratings In November, for the seventh consecutive year, Fitch Ratings awarded Promigas a BBB- rating (international scale) for local and foreign currency IDR issues, and emphasized its strong market position, geographical diversification, low risk profile for investors, and stable and predictable revenue structure. The rating agency also confirmed, for the sixteenth consecutive year, Promigas AAA rating (domestic scale), with stable prospects. NON-BANKING FINANCE Brilla Number of users: 2.4 millones Portfolio: USD 211 million Promigas and its companies contracted a total of 4,222 suppliers, from whom it made purchases totaling more than USD 227 million during the year. SHARED SERVICES Enlace Versa Processes: Procurement and accounts payable Treasury Payroll Accountancy and taxes Information technology We have BVC IR recognition for adopting best Corporate Governance practices and relations with different interest groups. We invested more than USD 1.3 million in our people s health and education.

8 Transportation Business Group The continuity and reliability indices for Promigas and its companies remain at over 99%. Gas pipeline length (km) Volume transported (MMSCFD) Maximum capacity (MMSCFD) PROMIGAS 2, TRANSMETANO PROMIORIENTE ** 85.8*** TRANSOCCIDENTE ** Volume transported Gibraltar - Bucaramanga: 31.4 MMSCFD. Volume transported Barrancabermeja - Payoa - Bucaramanga: 27.0 MMSCFD. *** Maximum capacity Gibraltar - Bucaramanga: 49.9 MMSCFD. Maximum capacity Barrancabermeja - Payoa - Bucaramanga: 36.2 MMSCFD.

9 Commissioning of Malena and Los Pinos compression stations Malena Compression Station, in the town of Puerto Berrío, Antioquia, began commercial operation on August 1, The commissioning of this station will result in a 22% increase in maximum transportation capacity in the Transmetano (Promigas affiliate) gas pipeline, from 64 MMSCFD to 78 MMSCFD, thus guaranteeing transportation for new market growth and the provision of a service that is to the highest standards in terms of quality and reliability. Transmetano has reiterated its commitment to the region with these investments and its everyday commercial management aimed at meeting its customers current requirements, and has succeeded in boosting the transportation capacity that will be required in order to meet the growth in demand in Antioquia. Los Pinos Station, which was opened by Promioriente before the end of 2017, will allow its users to enjoy a reliable transportation service, thus guaranteeing operational stability and future market growth in the region. Promisol affiliate Zonagen completed the sale of 100% of its installed capacity. SPEC has maintained 100% availability in its operations since the start.

10 Distribution Business Group Accumulated users Number of towns Natural gas sales Mm3 / electricity (GWh) Coverage (%) GdO 1,093, Surtigas 736, Natural Gas Gases del Caribe 934, , Efigas 536, Gases de La Guajira 108, Cálidda 576, , Electricity Compañia Energética de Occidente 367, Commencement of operations - Quavii The project in northern Peru, a market served by our affiliate Quavii, consists of transporting natural gas originating in the Camisea deposit from the Pampa Melchorita liquefication plant in Cañete (Lima) to seven towns in that part of the country. Operations commenced officially in November, in Trujillo. The towns and cities that will receive the natural gas service are Trujillo, Pacasmayo, Chiclayo, Lambayeque, Chimbote, Huaraz and Cajamarca. USD 60 million out of the total USD 213 million allocated to the concession have been invested to date.

11 Compañía Energética de Occidente (CEO) wins RSE Andesco Award At the award ceremony which was held as part of the closing events at the XIX Andesco Congress, in 2017, CEO was the company that won the RSE award in the Best Corporate Governance Environment category, for its implementation of strategies aimed at reinforcing the organization s principles and values. Brilla today has two million users With two million loans totaling USD 644 million granted in ten years and recognition by the World Bank, G-20, Financial Times and IFC, Brilla is an example of a successful, inclusive project in Colombia. Promigas, which owns the Brilla brand, granted Gases del Caribe, Surtigas, Gases de Occidente, Gases de La Guajira and Efigas the right to use it, and also Compañía Energética de Occidente (CEO) from January Through this program, our company has helped to create a positive impact on the wellbeing of the most vulnerable households in terms of unsatisfied basic needs and problems with accessing formal credit. This is particularly clear when it is noted that the products most sold are building materials, electrical appliances, televisions, computers and, for the last two years, cell phones. Brilla began operations in 2007 when distributors of the Promigas portfolio started, at the request of this latter, to grant approved credit limits to users with a good payment record for their natural gas service connection. The program has been noted for its low past due portfolio, which confirms user responsibility and loyalty in response to the company s vote of confidence.

12 Financial Statements GENERAL BALANCE SHEET Figures in millions of USD 2013 (1) 2014 (1) 2015 (4) 2016 (4) 2017 (4) Assets 2,337 2,057 2,259 3,088 3,229 Liabilities 1,509 1,346 1,410 2,103 2,163 Equity ,065 PROFIT AND LOSS STATEMENT Figures in millions of USD 2013 (2) 2014 (2) 2015 (5) 2016 (5) 2017 (5) Revenue 1, ,146 1,217 Costs Operating Expenses EBITDA (3) Net Profit INDICATORS BY BUSINESS Figures in millions of USD Revenue EBITDA Net Profit Transportation Business Group Distribution Business Group Total (1) Consolidated Col. GAAP figures stated in dollars at final representative market exchange rate for each year. (2) Consolidated Col. GAAP figures stated in dollars at average representative market exchange rate for each year. (3) EBITDA: Operating profit + depreciations and amortizations + provisions. (4) Consolidated IFRS figures stated in dollars at final representative market exchange rate for each year. (5) Consolidated IFRS figures stated in dollars at average representative market exchange rate for each year. NOTE: IFRS revenue and EBITDA include revenue from financial assets and participation method and exclude concession revenue and construction cost.

13 Our Value Proposal Leading position in the Liquefied Natural Gas (LNG) business in Colombia. The terminal belonging to SPEC, one of our companies, is in a privileged position to supply LNG on a small and medium scale and is ideally suited to serving regional markets. Experience in administering users in adverse economic situations, with a consequent improvement in living conditions in marginalized communities. Coordination of strategies with government in order to increase gas service coverage (mass availability, cross-subsidies, regional gas pipelines, etc.). Experience in natural gas regulation. Development of energy efficiency programs in conjunction with industry, to improve competitiveness. Development of new market niches to increase natural gas service coverage. Pioneers in the use of Natural Gas for Vehicles (NGV) in Colombia. Development of business at the base of the pyramid. For example, non-banking financing (Brilla) for people with no access to banking. Promigas is a long-term investor with a high level of social awareness, and a strategic partner in the development of energy markets.

14 Integrated Management with a Sustainable Approach

15 We at Promigas view sustainability from a transverse angle in our efforts to generate lasting economic, social and environmental value for interested parties, centered around the human being as the fundamental axis of all our actions. Based on ethics and transparency, we treat the opportunities and risks deriving from our activities in a responsible and effective manner, thereby fostering sustainable development. We constantly review our activities and we compare ourselves against the highest sustainability standards, such as the Dow Jones Sustainability Index, which allows us to work on any gaps that might be identified in order to improve the performance of our organization. We are also committed to the Global Compact and its principles, as well as to the United Nations Sustainable Development Goals (SDG), and these enable us to identify future growth opportunities, to improve the value of our business sustainability, to use new resources more efficiently, to strengthen relations with interested parties, and to participate using a common language and with a shared goal. We have determined that the following SDGs are a priority for Promigas: GOAL 4 Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all. GOAL 7 Ensure access to affordable, reliable, sustainable and modern energy for all. GOAL 13 Take urgent action to combat climate change and its impacts. GOAL 15 Protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss.

16 Relations with the Community WATTA KA>II, an initiative that won the RedEAmérica 3rd Latin America Transformers award. The WATTKA KA>II initiative, which is the result of an alliance between Promigas Foundation, Alpina Foundation and Fundación Caminos de Identidad (Fucai), won the RedEAmérica 3rd Latin America Transformers award in the Sustainable Communities and Private Social Investment category. Six indigenous communities in the municipality of Manaure (Chispana, Pactalia, Guaymaral, Chichitshii, Iyishpa and Polumatchon), in Colombia s La Guajira province, have been involved in Watta Ka>II, and the aim has been to work on restoring ways of earning a living, health care, food production, and education. We implemented social investment projects in different parts of our area of influence, and this enabled us to contribute to improving quality of life and progress there, to strengthen long-term relations with them, and to create a suitable environment for conducting gas infrastructure operations and maintenance.

17 Promigas Foundation is recognized by the Reincorporation and Normalization Agency (ARN). The national government s Reincorporation and Normalization Agency (ARN) granted Promigas public recognition, in the Business Reinforcement category (for its contribution to peace-building in the country), because of its interest, through its Foundation, in working as a strategic partner on initiatives that support the transformation toward building a sustainable and lasting peace in various scenarios by making it possible for more Colombians to have the opportunity to develop social and economic projects, all in a context of legality. In conjunction with our affiliates, we invested around USD 4.1 million in voluntary social management. Primary Health Care Diploma Course 40 persons Wayúu Handicrafts 30 persons Leadership and Local Development Diploma Course 50 persons Improving Education Quality Ethno-education Healthy Challenge Activity - Rocha Healthy Readers 18 teachers 37 parents 109 students 550 students 22 teachers Wayúu Literacy 120 persons Early Childhood Curriculum Program 1,877 students 5 Town Hall officials 300 parents 249 actors from education institutions

18 Environmental Management We are implementing a climate change strategy that involves making our infrastructure ready to adapt to that reality. A diagnosis was carried out to that end, in order to identify and prioritize the principal risks and opportunities we will be faced with, and various branches of the organization took part in this.

19 We set ourselves a target of reducing our carbon footprint by 10% by In 2017 we achieved a 39% reduction on our 2015 baseline. We have also continued to maintain the epiphytes that were transferred to the Coraza and Montes de María Protective Forestry Reserve in Colosó, Sucre, as a result of which the survival rate of the species transferred rose from 85% to 90% and the birth rate from 21% to 29%, in a 6.2-hectare area. We have continued to take part in the Biodiversity and Development initiative headed by the Colombian National Businessmen s Association (ANDI), with support from Colombian National Parks and the Alexander von Humboldt Institute.

20 About Colombia Number of inhabitants 49,564,411 Poverty percentage 26.9% Extreme poverty percentage 7.4% Total imports (thousand million) 44 USD Current Legal Minimum Salary 250 USD Inflation 4.09 % Sources: DANE, Banco de la República, Focus Economics. THE NATURAL GAS SECTOR IN COLOMBIA The mass use of natural gas in Colombia began in the 1980s as the result of a joint initiative by government and private enterprise, and continuous work since then has made gas the favorite fuel in the country s homes and industries. Promigas has been present throughout this successful process, has participated actively in it, and has enjoyed the satisfaction of being part of the social revolution that the mass use of this fuel caused. EVOLUTION IN THE NUMBER OF NATURAL GAS USERS Year Users (thousands) ,100 3,800 5,700 9,050

21 GDP (thousand million) 309 USD Per capita GDP 6,274 USD GDP growth 1.8 % Total exports (thousand million) 37.8 USD Unemployment (average) 9.4 % Exchange rate (annual average per dollar) $ 2,951 Fixed-Term Deposits (eop): 5.2 % Fixed-Term Deposits (average) 6.0 % Natural gas continues to be an extremely important fuel in Colombia s energy basket, especially in the industrial and domestic sectors, which remain stable. It is also used in thermo-electric power stations to meet peak demand. Proven reserves (Tpc) 5.3 Production capacity (Gbtud) 1,064 Consumption, Colombia (Gbtud) 701 TRANSPORTATION Kilometers of gas pipeline 7,456 DISTRIBUTION Users 9,050,550* Towns/villages served 695 Vehicles converted to vehicular natural gas 568,264* DEMAND (Gbtud) Domestic 125 Industry 269 Vehicular natural gas 67 Petrochemical 17 Refinery 224 Thermo-electric 291 Other 31 *2017 figures.

22 Sustainable development of energy markets

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