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© ALL RIGHTS RESERVED BY INTERCONEXION ELECTRICA S.A. E.S.P
Financial ResultsFourth Quarter 2017February 27, 2018
© ALL RIGHTS RESERVED BY INTERCONEXION ELECTRICA S.A. E.S.P
2
FINANCIALRESULTS 4Q17
AGENDA
➢ 4Q17 Financial Results
➢ Highlights
➢ Q&A
2
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FINANCIALRESULTS 4Q17
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2.137
1.438
2012COLGAAP
2013COLGAAP
2014NCIF
2015NCIF
2016NCIF
2017NCIF
Net Income
Financial ResultsFigures in COP billions
CONSOLIDATED FIGURES
Net Income 2017
COP 1.438
2017 Net Profit of 2017 is 5.3x of 2012, therebyISA fulfilled the target
defined for 2020
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FINANCIALRESULTS 4Q17
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Financial ResultsFigures in COP billions
4Q17
Operating Revenues
COP 1.667
EBITDA
COP 956Margin 57%
Margin excluding construction 65%
Net Income
COP 269Margin 16%
Margin excluding construction 17%
2017*
COP 6.954
COP 4.43164%
71%
COP 1.43821%
23%
✓Revenue from new projects in operation in Colombia, Peru and Chile and reinforcements in Brazil
✓Incorporation of the results of TAESA
✓ATP capitalization
✓RBSE value update
✓PERT adoption (Tax Regulation Special Program)
CONSOLIDATED FIGURES
* Including PERT and RBSE
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FINANCIALRESULTS 4Q17
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2017 Financial ResultsFigures in COP billions
CONSOLIDATED FIGURES
✓Brazil: ✓RBSE: Value update, financial adjustment and collection of 5 installments.✓PERT Adoption (Tax Regulation Special Program)
✓New projects and reinforcements in operation in Colombia, Chile, Peru and Brazil.
✓Inflation deceleration 2017 vs. 2016.
✓BRL/COP*: ✓4T17: revaluación 0,2%, 4T16: devaluación de 1,4%.✓devaluación de 5,5% en promedio año.
✓CLP/COP*: devaluación de 8,3% en tasas de cierre.
✓Accounting of contributions only in Balance
** reflected in the effect by conversion. does not represent cash
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FINANCIALRESULTS 4Q17
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RevenuesFigures in COP billions
QuarterOperation*: -0,6%Construction: -38,5%
9MOperation*: 17,6%Construction: -40,4%
VARIATIONS
✓New projects in operation in Chile and Peru
✓ Entry into operation of reinforcements in Brazil.
✓RBSE Financial update
* Excluding construction, PERT and RBSE
CONSOLIDATED FIGURES
COP 1.804 COP 1.667
COP 11.893
COP 6.954
4Q16 4Q17 2016 2017
2017
2017
Colombia28,9%
Chile19,3%
Brazil34,6%
Peru15,1%
Others2,0%
Energy 73,0%
Roads18,7%
Telco5,9%
MRTS2,3%
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FINANCIALRESULTS 4Q17
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Operating costs and expensesFigures in COP billions
QuarterOperation*: 1,9%Construction: -39,8%
9MOperation*: -0,4%Construction: -40,4%
VARIATIONS
* Excluding construction, PERT and RBSE
CONSOLIDATED FIGURES
2017
2017
Colombia39,0%
Chile15,4%
Brazil24,7%
Peru18,3%
Others2,6%
Energy 67,7%Roads
13,6%
Telco13,6%
MRTS5,1%
COP 892 COP 1.006
COP 3.638COP 3.119
4Q16 4Q17 2016 2017
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FINANCIALRESULTS 4Q17
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Figures in COP billions
EBITDA
2017
2017
EBITDA Margin
QuarterOperation*: -5,0%
9MOperation*: 24,9%
VARIATIONS
* Excluding PERT and RBSE
CONSOLIDATED FIGURES
Energy 77,0%
Roads19,4%
Telco2,5%
MRTS1,1%Colombia
25,4%
Chile19,5%
Brazil35,6%
Peru17,8%
Others1,6%
COP 1.804 COP 1.667
COP 11.893
COP 6.954
4Q16 4Q17 2016 2017
55,8% 57,4%
67,4%64,5%
4 Q1 6 4 Q1 7
Total Excluding construction
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FINANCIALRESULTS 4Q17
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-COP 237 -COP 252
-COP 1.033 -COP 867
4Q16 4Q17 2016 2017
Financial expensesFigures in COP billions
QuarterOperation: 6,5%
2017Operation: -5,5%
VARIATIONS ✓ Lower expenses in Colombia and Chile linked to lower inflation.
✓ Lower expense from exchange rate difference in Peru.
* Excluding PERTCONSOLIDATED FIGURES
2017
2017
Colombia25,2%
Chile44,6%
Brazil22,0%
Peru7,8%
Others0,4%
2
-21
-427
-530
MRTS
Telco
Roads
Energy
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FINANCIALRESULTS 4Q17
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Net incomeFigures in COP billions
Net Margin %
QuarterOperation: 57,0%
9MOperation: 44,5%
VARIATIONS
CONSOLIDATED FIGURES
2017
2017
Colombia35,6%
Chile21,1%
Brazil24,7%
Peru15,4%
Others3,2%
Energy 77,3%
Roads22,0%
Telco0,1%
MRTS0,7%
COP 1.710
COP 269
COP 2.137
COP 1.438
4Q16 4Q17 2016 2017
9,516,110,6
17,4
4Q16 4Q17Total Excluding construction, RBSE, PERT
* Excluding PERT and RBSE
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FINANCIALRESULTS 4Q17
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38.516
43.409
21.60524.985
7.0487.467
9.864
10.957
2016 2017
Assets Liabilities Minority interest Equity
Balance SheetFigures in COP billions
Assets by business
Assets by country
+12.7%
+5,9%
15,7%
CONSOLIDATED FIGURES
Colombia20,0%
Chile25,4%
Brazil39,7%
Peru14,4%
Others0,5%
Energy 77,6%
Roads19,9%
Telco2,1%
MRTS0,4%
+11,1%
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FINANCIALRESULTS 4Q17
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DebtFigures in COP billion
By currencyBy source
From 3Q16 excludes RBSE recognition and PERT for 3Q17. Includes cash from RBSE
CONSOLIDATED FIGURES
COP 2.848
COP12.829 COP79
COP1.733
COP950 COP104 COP14 COP2 COP339 COP16.016
Capital Market59%
Banks41%
UF+CLP27,4%
USD29,6%
COP27,3%
BRL15,7% 3,9 3,9 4,0
4,5
4,15 4,28
3,6 3,7 3,7 3,8
4,20 4,49
3 Q 1 6 4 Q 1 6 1 Q 1 7 2 Q 1 7 3 Q 1 7 4 Q 1 7
Debt / EBITDA EBITDA / Interest
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FINANCIALRESULTS 4Q17
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CAPEXFigures in COP billions
2018 – 2022 Investments COP 11.874 billion
February 2018
Breakdown by country
%
Colombia 24,9%
Chile 28,0%
Brazil 26,2%
Peru 20,8%
Otros 0,0%
Breakdown by business
%
Energy 73,2%
Telco. 18,1%
Roads 6,1%
MRTS 2,5%
2017 investmentsCOP 3.853 billion
CONSOLIDATED FIGURES
51,0%
23,9%
7,3%
17,7% Colombia
Chile
Brazil
Peru
COP 3.699
COP 2.434
COP 2.971
COP 1.813
COP 956
2018 2019 2020 2021 2022
Colombia Chile Brazil Peru Others
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FINANCIALRESULTS 4Q17
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2017 HighlightsAcquisitions and Investments
ISA won two energy transmission projects in Colombia:1. Copey-Cuestecitas and Copey-Fundación lines.2. Bosque Transformer Bay.
In Chile, ISA won a energy transmission project: New 1x750 MVA 500/220 kV Autotransformer Bank in S/E Nueva Cardones, S/E Nueva Maitencillo and S/E Nueva Pan de Azúcar.
ISA CTEEP won five projects in energy transmission auction in Brazil.
ISA bought 14.88% of the total stake in TAESA.
Acquisition of 26.5% of ATP, and the purchase of Torres Unidas by ATP.
ISA CTEEP acquired 75% of IENNE and stayed with 100% of the company.
ISA subsidiary presented the best offer for LOA road routes in Chile.
ISA won a new energy transmission project in Peru:
Transmission lines Mantaro-Nueva Yanango-Carapongo and Nueva Yanango-Nueva Huánuco and the associated substations.
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FINANCIALRESULTS 4Q17
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2017 Highlights
✓ ALAS20 2017: Leading company in investor relations and sustainability.
✓ ISA was included in the Sustainability Yearbook for the third consecutive year.
✓ America Economía awarded ISA the "Multilatin Company of the Year" award.
AWARDS
✓ ISA PERU: Socially Responsible Company, Peru 2021
✓ ISA CTEEP: Main company in the Brazilian energy sector
✓ Dow Jones Sustainability Index (DJSI) for the third consecutive year.
✓ FTSE4Good Index for complying with the ethical indexes of the stock market, as well as the global standards of corporate responsibility.
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FINANCIALRESULTS 4Q17
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Disclaimer
ISA has elaborated the following report for information purposes. The company is notresponsible for any investment decision made from this report. The statementsincluded therein reflect our current points of view in relation to future events; they arebased on assumptions and subject to risks and factors that may cause results,performance and achievements of the company to change at any moment. Thesefactors include general changes in the energy sector, financial conditions, governmentpolicies (national and international), as well as variations in interest rates, inflation,volatility in exchange rates, and levels of taxes.
As a result of these risks and factors, current results may differ materially fromestimates provided. The company does not accept responsibility for any change orinformation provided by official sources. The user is solely responsible for the use ofthis information.
© ALL RIGHTS RESERVED BY INTERCONEXION ELECTRICA S.A. E.S.P© ALL RIGHTS RESERVED BY INTERCONEXION ELECTRICA S.A. E.S.P
www.isa.coINTERCONEXIÓNELÉCTRICA S.A E.S.P.NIT: 860.016.610 - 3
Calle 12 Sur 18 - 168 Medellín, ColombiaPhone: +57 4 3252270 | Fax: +57 4 3170848 A.A. 8915
Carrera 69 25B - 44, 10th floor, Bogotá, ColombiaPhone: +57 1 4165596 | Fax: +57 1 4165398A.A. 55063
Contacts• Carlos Alberto Rodríguez L.• CFO
• Gloria Cecilia Velásquez T.• Investor Relations
• InvestorRelations@isa.com.co
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