Grupo Energía Bogotá S.A. (GEB) investor relations material

Executive summary

• Delivered resilient results amid COP appreciation and lower gas volumes transported, with net income up 15% year-over-year, supported by higher contributions from non-controlling investments and disciplined financial management.

• Revenue in 2Q26 declined 11.2% year-over-year to COP 446,821M, mainly due to a lower WACC (10.94%) and adjustments in transportation service contracting reflecting reduced industrial demand and gas supply constraints.

• Efficiency programs and cost optimization partially offset revenue declines, with notable reductions in maintenance and insurance costs.

• Strengthened growth platform through strategic assets in Colombia and Brazil, advancing key projects and international expansion.

• ESG management continues to be a strategic differentiator, with notable progress in environmental and social initiatives.

Financial highlights

• Adjusted LTM EBITDA reached COP 5.8 trillion, up 5% year-over-year; Q2 Adjusted EBITDA was COP 1.07 trillion, down 24% year-over-year due to gas business headwinds and FX effects.

• EBITDA fell 16.5% year-over-year to COP 314,530M, with margin down 4.4 pp to 70.4%.

• Net income increased 15% year-over-year, driven by higher equity method income, especially from Enel Colombia, and FX gains from COP appreciation.

• Operating income rose 0.7% year-over-year, supported by lower expenses in power plants and infrastructure projects.

• Financial expenses increased due to international bond issuance and higher IBR rates, while financial income benefited from higher time deposit placements.

Outlook and guidance

• Five-year organic CAPEX plan updated with a strategic focus on the Transmission segment and TGI, supported by ongoing development of major projects.

• Expansion plans target incremental revenue of COP 39,000M through new contracts and bidirectional projects.

• Ongoing regulatory processes for new tariffs and project approvals are expected to influence future revenue streams.

• Efficiency initiatives are expected to accelerate in the second half of 2026, with additional Opex and Capex projects in development.

• Continued emphasis on international expansion and strengthening of high-value assets in Colombia and Brazil.