Corporate Presentation Organización Terpel S.A. April 2013 1
Organización Terpel: more than just fuel Colombia's largest The most extensive Sales as of Dec. distributor of fuels network of Service Corporate risk 2012 rating and Stations in 42 % liquid fuels 1,873 MM gals. of Colombia issuance rating fuel, Mkt. share* AAA 2,013 liquid fuels 421M m³ of VNG 46 % VNG Mkt. share* Fitch Ratings and VNG SS** and 7.8 MM gals. of Colombia lubricants Consolidated income Consolidated USD $11.1 MM as of Dec. 2012** EBITDA as of Dec. Presence in 6 2012*** Investments for the countries of the benefit of groups of region in different COP $12.1 interest from lines of business COP $482,168 trillion COP 2004 to 2012 million COP (*) Source: Issuer's calculations based on the volume reported by Colombian Ministry of Treasury and Public Credit Tax Support Direction Office, through the collection of the overall surcharge. Figures as of Dec. 2012 ** Figures as of March, 2013 *** Figures do not include Peru 2
More than 40 years providing Colombia with mobilization solutions OT - Gazel Entrance merger into the Acquisition Dominican of Republic Petrolera Foundation of COPEC Nacional the other Acquisition acquires Terpel of Gazel Capitalization control companies of OT Creation Acquisition Organización of Repsol 1st lubricant Terpel (OT) YPF Chile Acquisition of factory Ecomex & Lutexsa Entrance to Creation of aviation and SIE marine Foundation businesses of Terpel 1968 1972-1993 2000-2001 2004-2006 2007 2008-2009 2010 2011 2012 3
Wide National and Regional Coverage % Mkt. Lines of No. No. Ranking share* business (VNG 4 -- 1 100% only) -- 4 2 43% Aviation 88 -- 3 19% 42% SS 2,013** 20 1 46% VNG 64% Aviation 57 -- 6 7% (VNG 20 -- 2 10% only) (*) Source: Issuer's calculations. Figures as of March, 2013 (**) 1,877 liquid fuel SS and 284 VNG SS, of which 148 SS are both VNG and liquid fuels. 4
Corporate Structure 98.2% Terpel Other Centro shareholders 52.7% 34.61% 28.46% 4.13% 14.4% 67.41% 99% 99% 95% 100% 99% 100% 100% Inversiones Organización Operaciones y Organización Petrolera C.I. Terpel Organización GNC Terpel Servicios de Terpel Chile Nacional S.A. Combustibles Terpel Chile Inversiones SAS Dominican Combustibles S.A. (Panama) S.A.S Ltda Republic SAS 100%* 96,64% Combustibles Peruana Ecológicos de Gas Mexicanos S.A. 50% 50% PGN Gas Sur PGN Gas Norte S.A.C. S.A.C (*) After January, 2013, demerger 5
Terpel in Colombia TERPEL MARKET SHARE* TERPEL VOLUME GROWTH VS. MARKET* 2012 SALES VOLUME OF LIQUID FUELS Others 42% 58% GAZEL MARKET SHARE** GAZEL VOLUME GROWTH VS. MARKET** 2012 SALES VOLUME OF LIQUID VNG 46% 54% Others (*) Source: Issuer's calculations based on the volume reported by the Tax Support Direction Office, through the collection of the overall surcharge. Figures as of December, 2012 (**) Source: Issuer's calculations 6
Pillars of Our Corporate Strategy The best In 2017, thanks to a highly infrastructure effective team , we will be the leaders in market share , with the best brand positioning , and we will be NETWORK recognized for being the number one in service The best The best and for our commitment to service price the country . 7
SS (Service Stations) The market leader with 42% of share in liquid fuels and 46% in VNG* The largest distribution network of liquid fuels and VNG in Colombia (2,013 SS**) Wide national coverage: presence in 30 states Conversions to VNG in exchange for consumption Financing Program It represents Colombia's 67% of the volume, 74% of EBITDA, and 68% of CAPEX VOLUME (MM gals.) CAGR:4.7% (*) Source: Issuer's calculations based on the volume reported by the Tax Support Direction, through the collection of the overall surcharge. Figures as of March, 2013 (**), 1,877 liquid fuel SS and 284 VNG SS, of which 148 SS supply both VNG and liquid fuels. 8
Supplementary Services A new model of convenience stores that offers a unique experience thanks to the sale of traditional food products of the region. A smaller format of supplementary service stores with a wide range of services (food, WiFi). A modern, agile and innovative system of auto-car wash. A fast and agile service where you can find snacks and other products while pumping gas. Self-service with vending and teller machines for customers. A wide network of ATMs, flat tire service, Other SS and filter sales that completes Terpel services. 9
Corporate Mobility (Fleets) Presence in the main road corridors, logistic, and tourist centers in the country Pioneer in the decentralized supply and centralized billing model Chip for the electronic fuel pump Fuel control and management system 180 fuel customers 209 VNG customers VOLUME (MM gals.) CAGR:23.2% 60.0 50.0 40.0 30.0 53.6 40.6 31.6 20.0 28.7 10.0 0.0 2009 2010 2011 2012 10
Lubricants The Bucaramanga plant supplies the local market and exports to Ecuador and Chile ICONTEC certified plant (ISO 9001, ISO 14001) and accredited laboratory that meets ISO/IEC 17025 (2005) international standards Automotive lubricants with state-of-the-art technology and environmental benefits 20.8% market share in 2012*. Second place in sales in the retail channel In 2012, Terpel Celerity Bio Anti-Smoke (for 2- stroke motorcycles) was nominated to the VOLUME (MM gals.) Accenture Innovation Award CAGR: 8.8% It represents Colombia's 0.5% of volume, 6% of EBITDA and 6% of CAPEX 8.0 7.0 6.0 5.0 7.3 7.1 4.0 6.2 5.7 3.0 2.0 1.0 0.0 2009 2010 2011 2012 (*) Source: AC Nielsen 11
Industrial Customers Focus on mining, petroleum, transportation, construction and agro-industry sectors Fuel supply to internal facilities of industrial customers Portfolio of products and integrated services Fuel supply to more than 700 customers It represents Colombia's 14% of the volume, 8% of EBITDA and 3% of CAPEX VOLUME (MM gals.) CAGR:13.4% 250.0 200.0 150.0 210.5 188.6 100.0 167.2 114.5 50.0 0.0 2009 2010 2011 2012 12
Aviation Market leader with 64% of market share Supply of JET-A1 and Avgas fuel in 20 airports in Colombia Leading operator of El Dorado airport IATA strategic partner, the International Air Transport Association, thanks to the high operation standards Business with ISO certification (Quality, Safety and Environment) VOLUME (MM gals.) It represents Colombia's 15% of the CAGR:12.9% volume, 9% of EBITDA and 4% of CAPEX 250 200 150 222.2 175.5 178.4 100 155 50 0 2009 2010 2011 2012 (*) Source: Issuer's calculations based on information from Ecopetrol 13
Marine Sector Incursion into supply of bunker fuel for large vessels that move cargo arriving in Colombian ports. Growing market in which Terpel begins operations. Trading through: CI Terpel combustible (IFOS) Terpel (marine diesel) VOLUME (MM gals.) CAGR: -8.7% 14.0 12.0 10.0 8.0 12.7 11.3 6.0 9.6 7.9 4.0 2.0 0.0 2009 2010 2011 2012 14
Regional Operations ECUADOR DOMINICAN MEXICO PANAMA PERU REPUBLIC 164 MM gals. in 124 MM gals. in 40 MM gals. in 7 MM gals. in 2012 16 MM gals. in 2012 sales 2012 sales 2012 sales sales 2012 sales % growth of Average sales per Operation in 4 of The only VNG Exclusive supply to market share : 13% SS 25% above the most important marketer Lima's mass transit (2006) vs. 18% market** airports system (2012)* SS network Business Assessing SS network Brand positioning expansion plan consolidation incursion into SS expansion plan and and sales to strengthening of industrial the SS network customers (*) Source: Issuer's calculations based on information from the Energy Secretariat of Panama (**) Source: Issuer's calculations based on information from Petroecuador 15
Committed to sustainable development Strengthening, growth, and INITIATIVES / PROGRAMS / CERTIFICATIONS sustainability ISO Certifications To be the best option for our customers To generate value, trust, and strategic approaches development in our supply chain Sustainability Signatories of the United Nations Global Pact To operate with respect for the environment To contribute to the well-being of Sustainability Report: B + society and our communities To promote Terpel staff talent Terpel training schools To act ethically, transparently, and with respect for human rights 16
OT Team’s Experience in the Industry Sylvia Escovar President 10 years Kenneth Siefken Daniel Perea Marketing VP Corporate and Legal Affairs VP 11 years 7 years Tony Quintero Oscar Bravo Commercial VP: Fuels CFO 15 years 8 years Juan Pablo Giraldo Olga Lucia Mora Lubricants VP Human and Administrative Resources VP 5 years 10 years José Carlos Barreto Operations and Logistics VP 6 years 17
Corporate Government Structure GENERAL SHAREHOLDERS ASSEMBLY BOARD OF DIRECTORS 7 Members Control Bodies MAIN Substitute Compensation Audit and Tax Auditor and Benefits Corporate Gabriel Sanchez Juan Fernando Múnera Committee Governance Lorenzo Gazmuri Frederic Chaveyriat Committee Jorge Andueza Eduardo Navarro Ramiro Méndez Claudia Betancourt Internal Arturo Natho Jorge Garcés Audit José Oscar Jaramillo Gabriel Jaramillo Tulio Rabinovich Bernardo Dyner Authorities (CFS, SISoc.) PRESIDENT PRESIDENT 18
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