Corporate Presentation Organización Terpel S.A. March 2017
Organización Terpel, much more than fuel Service Station 1 st Fuel distributor 1 st 6 Countries in network in which Terpel in Colombia Colombia has presence 43% 1.896 Market Share* SS Fuel + VNG $660 $14 Consolidated 2,5 Consolidated Consolidated EBITDA Revenue Volume Dec. 2016 Dec. 2016 Dec. 2016 $COP Billion $COP Trillion Billion Gallons Terpel’s $2,1 Market AAA bonds risk Capitalization rating Dec. 2016 $COP Trillion Fitch Ratings (*) Source: Issuer’s calculation based on volume reported by Colombian Ministry of Treasury and Public Credit Tax Support Direction Office, through the collection of overall surcharge tax. Figure includes volume of Large Consumers Non-Intermediaries (LCNI) and Imports. Figures as of December 2016. 2
More than 48 years providing Colombia mobilization solutions 2nd Bonds Issuance 1st Bonds Issuance, Terpel Centro, SIE and Proenergía merger, Terpel’s share listed in BVC. OT – Gazel merge, Entrance to Dom. Republic aviation market. 2015 2016 COPEC acquires control. Merger of Terpel regional 2013 companies and Gazel acquisition. 2014 Petrolera Nacional and 2011 Repsol YPF Chile acquisition. 2012 Ecomex & Lutexsa acquisition 2010 Establishment of Organización Terpel (OT), Establishment of SIE. 2008 2009 Terpel regional companies foundation, 2007 1st lubricants factory, Entrance to aviation and marine sectors. 2004 2006 Terpel fundation 2000 2001 1972 1993 1968 3
Ownership structure Fdo. Inversiones Palmares Morgan Radysade Pensiones Wayco Int Valin 77 SAS Stanley Protección 3,1% 2,8% 2,6% 2,4% 2,4% 2,6% 58,51% Other Shareholders 25,6% Inversiones Combustibles Organización Petrolera Organización Terpel Organización Gazel Perú Ecológicos Terpel Nacional S.A Terpel Chile Energía Terpel Chile S.A.C Mexicanos Republica S.A S.A.S (Panamá) S. A. S.A Dominicana 99% 99% 99% 99% 100% 99% 99% Transmarine Fuel Lutexsa S.A VonPort Orlyn S.A Transport Petroleum 99% 100% 100% 100% 100% Masser Adesgae Cía Noliber S.A Ltda. 100% 99% 99% 4
COPEC one of the biggest companies in Chile, main investor and a long term player 5
Pillars of our corporate strategy We will be market leaders in 2017 , with a highly effective team , with the best brand position and known as the best company in terms of service , and social commitment with the country. Best infraestructure Best service Best price 6
Regional presence % Market Business No. No. Ranking Share* Lines 8 -- 1 56%** (VNG) -- 5 2 32% 127 -- 2 24% 38% LiqFuels 1.986*** 20 1 44% VNG 81% Aviation 58 -- 5 7% VNG 38**** -- 2 12% Liq Fuels LPG (*) Source: Terpel dic-16 (**) Market Share in Mexico City is 100% (***) 1876 liquid fuel SS (224 owned) and 287 VNG SS, (177 SS sale both liquid fuels and VNG) (****) 34 VNG SS, 11 liquid fuel SS y 14 LPG No. SS dic-15: Colombia-> 1948, Panama-> 116, Ecuador-> 57, Mexico-> 8, Peru-> 35 7
TERPEL IN COLOMBIA
Terpel remained as the leader company in the fuel distribution industry in Colombia TERPEL VOLUME GROWTH Vs. MARKET* TERPEL MARKET SHARE* 2016 liquid fuels volume sales GAZEL MARKET SHARE** GAZEL VOLUME GROWTH Vs. MARKET** 2016 VNG volume sales (*) Source: Issuer’s calculation based on volume reported by Tax Support Direction Office, through the collection of overall surcharge tax. Figures as of December 2016. For 2016 market volume includes LCNI and Imports. Without LCNI+Imp the market would growth 3,5% and Terpel’s Market Share would be 45,3%. 9 (**) Source: Issuer’s calculations. Figures in equivalent gallons. Figures as of December 2016.
Service Stations (SS) Market leader with 44% in VNG, 40% in gasoline and 37% in Diesel.* More than 324 SS were remodeled with new image. In total, 896 SS have the new brand image. Largest distribution network of liquid fuels and VNG in Colombia (1.986 SS**) Wide national coverage: operation in 30 Colombian regions. Conversion to VNG in exchange for consumption through a Financing Program. Pioneer in decentralized supply and centralized billing model through a chip offered in an interconnected network of about 527 liquid fuel SS and 279 VNG SS. It represents 73% of volume and 61% of CAPEX in Colombia. * Source: Issuer’s calculation based on volume reported by Tax Support Direction Office, through the collection of overall surcharge tax. Figures as of December 2016, include volume of LCNI and Imports. ** 1.876 liquid fuel SS (224 owned) and 287 VNG SS, (177 SS sale both liquid fuels and VNG) 10
Suplementary Services The convenience store’s network with greater coverage in the country. A new model of convenience stores that offers a unique experience offering traditional local food products in each region. Wide portfolio of services: food, restrooms, Wi-Fi, playground and rest areas. 14 Ziclos for vehicles + 2 Ziclos for Motorcycles: A modern, agile and innovative system of auto-car wash. 16 Deuna: Kiosks located close to the pump. This is a fast service provided through tablets where costumers can buy snacks and other products while pumping. A wide network of ATMs, flat tire service, Otros additives and other products that complement SSCC Terpel services. 11
Lubricants ICONTEC certified plant (ISO 9001, ISO 14001, ISO 18001, IQNET , ICONTEC) Accredited laboratory that complies with ISO/IEC 17025 international standards. Automotive lubricants with state-of-the-art technology and environmental benefits. Lubricants portfolio customized to each kind of vehicle that offers innovation and high technology to customers: Terpel Maxter, Terpel Oiltec y Terpel Celerity. Invention patent for Terpel Celerity product: “synthetic base lubricants composition that allows to Lubricants Plant certifications generate a higher performance for the engine”. It represents 0,5% of volume and 6% of CAPEX in Colombia. 12
Industrial costumers Focus on mining, petroleum, transportation, construction and agro-industry industries. Fuel supply to industrial costumers through internal facilities. Wide portfolio of products and integrated services including programs focused on security and environmental impact prevention as well as optimization of customer’s operation. Fuel supply to approximately 422 costumers. It represents 9% of volume and 3% of CAPEX in Colombia. 13
Aviation Market leader with 81% market share*. Supply of JET A1 and Avgas in 20 Colombian airports . Principal supplier for El Dorado airport through Allied company as the operator. IATA (International Air Transportation Association) strategic partner, as a result of safe and reliable operations. Pioneer in Latin America with certifications in quality, security and environment. NORSOK S-006 Norwegian certification in industrial security, occupational health and environmental management. It represents 18% of volume and 3% of CAPEX in Colombia (*) Source: Issuer’s calculations based on Ecopetrol information. 14
Marine Colombian Seaports Terpel is participating in the supply of bunker fuels for large cargo vessels arriving to Colombian seaports. This is a growing market in which Terpel begun operations. At the end of 2016 it represented 0,4% of total volume. 15
Terpel is compromised with sustainable development Terpel is not only a shareholder’s asset, it is also an asset to all of its related interest groups since it recognizes the importance of growing all together in order to pursue a better future. SUSTAINABLE MANAGEMENT MODEL INITIATIVES / PROGRAMS / CERTIFICATIONS TERPEL’S ISO certifications SUSTAINABLE MANAGEMENT MODEL REFLECTS THAT STRATEGY IS FOCUS ON PEOPLE Leader in sustainability at a global level as a result of the second evaluation conducted under Dow Jones Sustainability Index (DJSI). Terpel training schools 16
Terpel’s senior management experience in the industry Sylvia Escovar President 14 years Kenneth Siefken Daniel Perea Marketing VP Corporate & Legal AffairsVP 15 years 11 years Tony Quintero Oscar Bravo Commercial VP: Fuels Corporate Finance VP 19 years 12 years Juan Pablo Giraldo Maria Mercedes Carrasquilla Lubricants VP Human & Administrative Resources VP 9 years 4 years José Carlos Barreto Operations & Logistics VP 10 years 17
Corporate Government structure Terpel’s Corporate Government is based on procedures that ensure an appropriate governability and it is also based on an ethical auto- GENERAL SHAREHOLDERS ASSEMBLY regulation. BOARD OF DIRECTORS 7 Main Members Lorenzo Gazmuri Schleyer Jorge Andueza Fouque Audit and Compensation Ramiro Méndez Urrutia Corporate and Benefits Governance Leonardo Ljubetic Garib Committee Committee José Oscar Jaramillo Botero Bernardo Dyner Rezonzew Jorge Alberto Bunster Betteley PRESIDENT Control bodies Internal Authorities Tax Auditor Auditor (SFC, SISoc.) 18
FINANCIAL INFORMATION
Consolidated operational results VOLUME SALES PERFORMANCE* VOLUME SALES BREAKDOWN Millon Galons PER COUNTRY 2016* EBITDA PERFORMANCE* EBITDA BREAKDOWN PER COUNTRY 2016* COP$ Billion (*) From 2013, figures include Peru results. 20
Regional value generation EBITDA Vs. VOLUME COP$ Billion Vs. Million Gallons 21
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