Slides
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August 14, 2026 RESULTS
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Index 1 2 3 4 Results Overview Operational Highlights Financial Performance ESG Performance
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Speakers CFO Jorge Tabares Karen Guzmán FinancingManager and IRO CEO Juan Ricardo Ortega 3Subestación La Loma, Cesar
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4 Adjusted EBITDA 1 by business segment 1. Results overview Commemoration First Dividend Payment COP$ 1.4 T Baa3 / Stable BBB- / Stable AAA / Stable Credit Rating Affirmation +26k shareholders Resilient results in a challenging environment Adj. LTM EBITDA COP 5.8 T (+5.0%y/y) LTM ROE LTM ROIC 15.9% 12.4% 1. Adjusted EBITDA includes dividends declared by associates and joint ventures. Natural Gas Distribution 17% Natural Gas Transportation 24% Electricity Transmission 18% Electricity Distribution 21% Electricity Generation 20% COP$3.2T 6M Adj. EBITDA -5% y/y
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5 2. Operational highlights Transmission Brazil • Acquisition of the remaining 49% equity interest in the four transmission SPVs from Axia Energia • Asset generating approximately USD 56 M in revenue and USD 42 M in IFRS EBITDA in 2025 Transmission Colombia • ANLA approved the amendment to the environmental license for the Chivor II-Norte 230 kV project, enabling the full execution of the 162-km transmission line. • Colectora project reached 80% completion o Colectora–Cuestecitas: 82% >420 Tower foundations o Cuestecitas–La Loma: 100% 511 Tower foundations 100% stake LT 1,086 Km 17 Substations Generation Enel Colombia Distribution Enel Colombia • Increase in energy demand (3.2% y/y) in Bogota and Cundinamarca. Transport TGI Distribution Cálidda • Additional delays in tariff review by CREG • Market affected by gas shortage • The new Peruvian government has designated natural gas massification and accelerated investment in energy infrastructure as key strategic priorities for the country Progress on Strategic Projects Further Consolidation of Enel's Solar Portfolio 1. This corresponds to the installed capacity in AC (alternating current), including the Atlantico Solar Park (180 MWac under testing) • Leading renewable energy generator in Colombia, with ( 1 , 115 GWh of solar generation 1 ) • Higher contracted energy sales (+4.5%) recovery in spot market • Awarded 21% of OEF’s reinforcing long-term energy reliability
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COP appreciation Vs other currencies. Sector-specific challenges associated with limited natural gas availability in Colombia FX -166 y/y -260 | -13% y/y Revenues /costs excluding pass-through* -17% -11% -4% -6% -31% -18% -7% -11% -63% -9% 40% 40% 27% 59% 50% 44%21% 22% Q2-25 Q2-26 Segment Margins (Revenues – (Costs + Administrative expenses)) +0.2 pp -6.4 pp +32 pp +0.5 pp 5 | +1% y/y 636 631 Administrative expenses -89 | -24% y/y 23 22 77 89 12 16 114 8 47 66 106 90 379 290 Q2-25 Q2-26 164 155 339 325 503 447 478 332 1,043 863 2,049 1,789 Q2-25 Q2-26 86 77 133 124 204 185 150 56 715 588 1,139 974 Q2-25 Q2-26 6 FX -110 y/y -166 | -15% y/y FX -18 y/y -15% +42% -93% +25% +15% -5% Lower industrial demand resulting from constrained natural gas supply, coupled with higher administrative expenses associated with the regasification project +4 pp Excluding Air-e provisions recorded in 2025 under the expected credit loss model 19 Ex. Aire - 58% Ex. Aire 55% Ex. Aire 3. Financial performance Operational CostsOperational revenues COP Bn Electricity Distribution Electricity Transmission1 Natural Gas Distribution * Natural Gas Transportation Electricity Distribution Electricity Transmission1 Natural Gas Distribution Natural Gas Transportation Corporative Other Electricity Distribution Electricity Transmission1 Natural Gas Distribution Natural Gas Transportation 1. Electricity Transmission segment includes Transmission Colombia business and transmission subsidiaries in Guatemala (Trecsa and Conecta).
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Strong contribution from Enel Colombia and FX gains, partially offset by higher financing costs COP Bn 72% 11% -71% 23% 147% -16% Var. Q2’26 vs Q2’25 +18%+0.7% OPERATING INCOME TO NET INCOME Operating Income (COP +4): driven by lower expenses associated with power plants, pipelines, and tunnels under construction in Guatemala (COP +9) Financial Income (COP +25): reflecting higher placements in time deposits during the second quarter and increased investment returns Financial Expenses (COP -33): increased as a result of the GEB international bond issuance completed in October 2025 FX Gains (COP +75 Bn): the stronger appreciation of COP/USD positively impacted the valuation of the dollar-denominated financial liabilities, resulting in higher foreign exchange income Equity Method Income (COP +119): primarily driven by Enel Colombia's contribution (COP +141), supported by the recovery in spot market electricity prices and continued growth in electricity demand. In Brazil, Gebbras also reported improved results as the IPCA inflation index increased by 0.5 pp Income Tax Expense (COP +97): impacted by foreign exchange effects associated with the quarter-end exchange rate, reflecting a 6.2% appreciation of the Colombian peso, which generated an estimated COP 226 impact. 7 * Net presentation figures exclude the valuation of foreign exchange hedges of COP 98.1 Bn in Q2’26 3. Financial performance 556 59 (348) (31) 629 (163) (40) 662 Operating Income Q2-26 Financial Revenue Financial Expenses FX Difference Equity Method Taxes Minority Interest Net Controlled Income Q2-26 * *
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264 73 54 44 40 29 405 61 57 36 25 43 Enel Colombia ISA Perú Argo Promigas Vanti Gebbras (Negocios Conjuntos) Enel Colombia stands out, while Colombia's gas business faces headwinds. FX impacts from COP appreciation Quarterly variation: • Enel (COP +141) strong performance from the generation business, driven by the recovery of spot market electricity prices and continued growth in electricity demand • Argo (COP +3) and Gebbras (COP +14) Gebbras benefited from a 0.5 percentage-point increase in IPCA (Broad Consumer Price Index) during the quarter • ISA Peru (COP -12) mainly impacted by the appreciation of the Colombian peso against the U.S. dollar (COP -10) • Vanti (COP -15) lower earnings resulting from the implementation of the new natural gas distribution tariff framework in Colombia 509 vs 629 | +23% y/y Q2’25 Q2’26 (17%) 5% (19%) (37%) 46%+53% 8 3. Financial performance Equity Method COP Bn Gebbras (Joint Ventures)
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Infrastructure investments primarily driven by the Colombian Transmission business CAPEX • Total 1H26 CAPEX increased 10% y/y, primarily driven by Colombian Electricity Transmission, which represented 66% of total investment execution and grew 23% compared to 2025, mainly supported by the continued development of the Colectora, Chivor II-Norte, Refuerzo Suroccidental, and Sogamoso projects. • On a quarterly basis, investment execution was led by Colombian Electricity Transmission (USD 93 million), Cálidda (USD 18 million), and TGI (USD 13 million), which together accounted for approximately 79% of total CAPEX execution during the quarter. • The five-year organic CAPEX plan has been updated with a strategic focus on the Transmission segment and TGI, supported by the development of the IPAT projects and other growth initiatives within the portfolio. 5-year projection 1,677USD M +10% y/y 15 36 34 26 24 23 187 428 330 128 91 81 24 69 66 93 46 49 39 63 37 32 11 11 265 595 468 278 173 164 6M26 2026P 2027P 2028P 2029P 2030P Electricity Distribution Electricity transmission Natural Gas Transportation Natural Gas Distribution 9 Main Projects Transmission Colombia Advance D-o-O UPME 1 Refuerzo Sur-Occidental 89% Q4-26 2 Chivor II 230 kv 79% Q1-27 3 Colectora (C.C. 82% - C.L. 100%) 80% Q3-27 4 Sogamoso 67% Q2-27 Synchronous Compensators Recently Awarded 1 Santa Marta – Maicao 2 Banco – Jagua – Guatapuri 3 Colectora’s Compensator and Reactor 3. Financial performance Maicao Guatapurí La Jagua El Banco Colectora Santa Marta 1 2 4 3
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18% 40% 27% 15% Argo dividends in 2025, gas business headwinds related to limited gas availability, and adverse FX effects In Q2-26, 100% of the quarter’s Adjusted EBITDA come from controlled companies COP BnAdjusted EBITDA1 COP Bn -257 | -24% a/a TGI Other3 Cálidda Transmission Colombia2 -13 Var. % y/y -17 3 -9 1,070 -41 -69 -144 2 0 EBITDA Q2-25 Natural Gas Distribution Gas Transportation Energy Transmission Energy Distribution Energy Generation EBITDA Q2-26 -11% y/y 917 vs 813 Q2’26Q2’25 -15% -17% -43% +2% Electricity Distribution Electricity Transmission Natural Gas Transportation Natural Gas Distribution 10 813 Argo -153 FX -57 a/a Adjusted LTM EBITDA COP 5.8 T (+5% y/y) 79 81 332 188 396 327 272 231 1,070 813 Q2-25 Q2-26 3. Financial performance Controlled EBITDA by Company Adjusted EBITDA1 by segment (1) Adjusted EBITDA includes dividends declared from associates and joint ventures. (2) Colombian Transmission Business includes: GEB Transmission and Enlaza. (3) Other: Dunas, Contugas, Transmission Subsidiaries in Guatemala, Gebbras and Others.
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53% 47% GEB Otros Active debt management to enhance financial flexibility and support the Group's long-term growth strategy USD M USD M USD M 180 bps y/y 73 bps y/y Average life 5.4 years 3.0x 5.8x 705 12.3% COP USD 5.3% 11 53 1,008 1,099 202 3,384 26 27 28 29 30+ 500 400 300 215 110 300 509 665 145 281 400 340 (1) Nominal debt values (excluding amortized cost and exchange rate differential on the contractual value of the hedge). Includes exchange rate hedges (USD to COP for TGI International Bond of USD 665.1 million + Cálidda PEN to USD local bonds of USD 161.7 million + GEB International Bond of USD 160 million) and interest rate hedges (USD 1,050 million) (2) Adjusted LTM EBITDA includes dividends declared by associated companies and joint ventures (3) Includes Interest Rate Swap (IRS). GEB: USD 300 M + Cálidda: USD 750 M (4) The value of the 2028 TGI bond reflects its equivalent value in COP Fija 53% IBR 19% SOFR 20% IPC 8% 5,746 62% 60% 31% 20% 3% 3%0% 14%3% 3% 2T25 2T26 COBUSD COBCOP PEN COP USD 4,620 5,746 3. Financial performance Gross debt and indicators1 Proactive debt management CASH POSITION Net Debt / LTM EBITDA2 LTM EBITDA2 / Financial Expenses DEBT BY COMPANY: Other Debt by currency Cost of Debt Syndicate GEB Syndicate Contugas Cálidda Scotia Loan TGI4 Intl. Bond GEB BBVA Loan GEB Int. Bonds Cálidda A/B Loan GEB Davivienda Loan TGI Club Deal Trecsa Private Placement Fixed 53% 3 CPI 8% Q2-25 Q2-26
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USD 6.6M · Social investment 1H26 +300,000 · Benefited people by social impact Gaia SPE Perú Award Best Social Management” Category ‘Comedores Cálidda’ program Investment focuses: access to basic services, community strengthening, education, employability, entrepreneurship, nutrition and improvement of social infrastructure 9,769 people benefited by ways - TGI 1,738 m of ways in Boyaca, Santander, Risaralda and Tolima. 270 employees trained in Peruvian subsidiaries In community relations, conflict resolution and human rights. Campaing for Córdoba +390 employees; COP 70M donated and 230 kits delivered 3rd star Carbon Footprint Perú · Cálidda Recognition of the company's progress in measuring and verifying GHG emissions, as well as implementing emissions reduction and mitigation initiatives USD 4.4M environmental investment Climate adaptation initiatives, environmental compliance, deployment of environmental management tools, strengthening of the Environmental Management System, and enhanced waste recovery +122,000 ton of waste recovered At Group level Carbon footprint 1H: 129,000 t CO₂ 13% below the estimated target for 1H26 LAUNCH OF NEW PHASE OF THE PROGRAM Legacy for the Territories Projects in employability, entrepreneurship and school education for the energy transition (2026 – 2027). +COP 9,700M GEB and allies Investment +3,500 Benefited people La Guajira · Valle del Cauca Prioritized territories 1,329 homes connected by TGI Natural gas in Boyaca and Santander (+5,000 people) Social Environmental Corporate Governance GrupoEnergíaBogotá Recognized leadership in corporate governance and sustainability For the 4th consecutive year, GEB, Enlaza and TGI occupied the TOP 3 of the District Companies Ranking of the District Oversight Office Leadership in regulatory issues GEB - official sponsor of the World Congress of Constitutional Law (WCCL). Promoting debates on regulation, sustainability, energy, and human rights. 4. ESG performance
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13 • Resilient performance in a quarter characterized by COP appreciation and lower gas volumes transported • Net income up 15% year-over-year, driven by a higher contribution from non-controlling investments and disciplined financial management • Solid financial profile and strong execution track record, with Net Debt-to-EBITDA of 2.96x and USD 140 million of quarterly CAPEX execution. • Growth platform strengthened by high-value strategic assets in Colombia and Brazil, with significant progress in projects and international expansion • ESG management continues to solidify as a strategic differentiator Highlights
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14 Highlights • Resilient performance in a quarter characterized by COP appreciation and lower gas volumes transported • Net income up 15% year-over-year, driven by a higher contribution from non-controlling investments and disciplined financial management • Solid financial profile and strong execution track record, with Net Debt-to-EBITDA of 2.96x and USD 140 million of quarterly CAPEX execution. • Growth platform strengthened by high-value strategic assets in Colombia and Brazil, with significant progress in projects and international expansion • ESG management continues to solidify as a strategic differentiator
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15 La Loma Eufrosina Communities Disclaimer The information provided below is for informational and illustrative purposes only and is not intended as a source of legal, investment or financial advice of any kind. This presentation is not intended to address any investment objective, financial situation or particular needs of any investor. This document should not be considered as a substitute for the exercise of your own judgment. This information does not constitute an offer of any kind and is subject to change without notice. GEB undertakes no obligation to update or keep current the information contained herein. GEB expressly disclaims any liability for actions that may or may not be taken based on the information provided in this report. GEB does not accept any liability for losses that may have resulted from the implementation of the proposals or recommendations presented herein. GEB is not responsible for any content that may originate with third parties. GEB may have provided, or may provide in the future, information that is inconsistent with the information in this report. No warranties, either express or implied, are made as to the accuracy, completeness or reliability of the information contained in this report. This presentation may contain statements relating to Section 27A of the Securities Act and Section 21E of the 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 US Securities Act of 1933, as amended (the "Securities Act") or any securities laws of the United States of America. Any offering of shares in the United States will be deemed to be directed solely to qualified institutional buyers as defined in Rule 144A under the Securities Act, and outside the United States pursuant to Regulation S under the Securities Act. We have converted certain amounts from Colombian pesos to U.S. dollars solely for the convenience of the reader at the applicable MER in each case. These conversions should not be construed as a representation that amounts in Colombian pesos have been or could be converted into U.S. dollars at this or any other exchange rate. The document presents the corresponding variations under International Financial Reporting Standards (IFRS)
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Jorge Tabares CFO jtabares@geb.com.co Karen B. Guzmán kguzman@geb.com.co Faudy González ir@geb.com.co IR Investor Relations fgonzalezt@geb.com.co Financing Manager & IRO IR advisor www.geb.com.co www.grupoenergiabogota.com/en/investors Felipe Cepeda IR advisor ncepedac@geb.com.co 16
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Para uso restringido GRUPO ENERGÍA BOGOTÁ S.A. ESP. y sus filiales. 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 BOGOTÁ S.A. ESP. o sus filiales como propietarias de la información. GrupoEnergíaBogotá GrupoEnergíaBogotá Gebbras