Promigas S A E S P : REPORT​ 1Q2023

1. CORE BUSINESSES

NATURAL GAS TRANSMISSION

As of the first quarter of 2023, Promigas and its portfolio of transportation companies in Colombia achieved a volume of natural gas transported of 456 MMCFD through a pipeline network totaling 3,289 km with a total capacity of 1,153 MMCFD.

Highlights from the first quarter's management:

• Early bidirectionality of Barranquilla - Ballena and the interconnection of Coastal/Interior Operating Systems from April 1. The interconnection was first used with the transportation of 7 MMCFD, which flowed from the interior of the country (Campo Cusiana) to Cartagena to be used by Reficar.
  TRANSMISSION REVENUES

Figures of 100% controlled companies, before eliminations. Does not include concession construction revenues.

NATURAL GAS TRANSMISSION

Promigas - Atlantic Coast

At the end of the first quarter of the year, Promigas' gas pipelines reached 2,753 km in length and 952 MMCFD of transportation capacity.

Industrial and Domestic Sector

The Cartagena Refinery increased its gas consumption due to the failure of an internal unit that was backed up with natural gas. On the other hand, the increase in the domestic sector mainly occurred in the departments of Atlántico and Bolivar, with an average increase of 26% and 17% in consumption.

Thermoelectric Sector

The gas requirements of the thermal sector decreased by 24% due to the inclusion of transmission projects that alleviate interconnection restrictions with the interior of the country. Moreover, during the first quarter of 2023, there was evidence of a greater water supply, which reduced the need for gas-fired thermal generation.

NATURAL GAS TRANSMISSION - SUBSIDIARIES

Transported volume (MMCFD) - Promioriente

At the end of the first quarter of the year, the gas pipelines of Promioriente had reached 335 km in length and 49.9 MMCFD of transportation capacity.

The 2023 volumes were affected by the forced shutdown between March 28th and April 11th in the production of the Gibraltar well, due to problems in the Caño Limón-Coveñas pipeline.

Transported volume (MMCFD) - Transmetano

At the end of the first quarter of the year, the gas pipelines of Transmetano had reached 190 km in length and 77.6 MMCFD of transportation capacity.

There was a slight increase in volumes during 2023, due to the daily contracting of 176 Kpcd of Alcanos at a charge rate of 0-100.

Transported volume (MMCFD) - Transoccidente

Increased consumption from the Argos plant, due to competitive gas prices at the plant, which has displaced the use of coal for its operation.

INDUSTRIAL SOLUTIONS - PROMISOL

We have the capacity to innovate and the necessary tools to assist our customers in each step of the implementation of their plans and projects, offering them a world of integrated solutions. The following are the highlights from the first quarter of 2023:

Treatment

100% availability of the Bonga-Mamey plant and 100.6% compliance with nominations.

Activities began on the construction phase of the Mamey 3 to Mamey 1 well connection, with a completion date of May 2023.

Construction and Maintenance

There was 56% progress in the execution of the 20" and 24" PHD directional drilling project of the Cañas River in the department of La Guajira.

In addition, 98.6% of maintenance orders were fulfilled, including corrective works due to the heavy rainfall.

SPEC LNG

A strategic backup asset that provides reliability and stability to Colombia's electric power generation system, especially at the most critical moments (El Niño phenomenon).

The regasification plant has been in operation for over 6 years and has become the country's energy insurance, because it has always been available as back-up for the system when required. It currently has a storage capacity of 170,000 m3 of LNG, with a regasification capacity of 400 MMCFD.

Highlighted aspects:

• In the first quarter of 2023, hydraulic power generation covered 82% of the country's electricity demand as a consequence of the high reservoir levels (67%) and rainfall contributions of approximately 140% compared to the historical average. As a result, regasification took place for 5 non-continuous days in February when the deficit was covered with thermal generation due to the unavailability of the Guavio hydroelectric plant.
• During the first quarter of 2023, a Market Survey was carried out in which the different market agents confirmed their interest in an additional LNG regasification capacity.