INFRASTRUCTURE

COMPANY OF

GRUPO ARGOS

ROBUST AND DIVERSIFIED

PORTFOLIO OF ASSETS

AND PROJECTS

FINANCIAL STRENGTH

TO MANAGE

RISKS AND TO GROW

LEADER IN ROADWAY AND

AIRPORTS CONCESSIONS

IN COLOMBIA1

ABOUT ODINSA

We are a Colombian concession company that belongs to Grupo Argos, dedicated to the structuring,

promotion, management and development of roadway and airport infrastructure projects, having a presence

in Colombia, Ecuador, Aruba and Dominican Republic, which has become a vehicle for regional

connectivity and a source of development.

• Balance, support and

standards of corporate

governance.

• We are Grupo Argos’

mid-term growth

commitment.

• Structural position of the

industry in Colombia and

timely stake in profitable

assets abroad.

• Proper mix of mature

assets and projects that

provide stability.

• Assets majority stakes.

• Privileged position to

benefit from the

potential growth of the

infrastructure sector.

• Counter-cyclical

industry and promoter

of economic growth,

with institutional

structure and state

support.

• Strategic position,

financial strength and

deep knowledge of

• the industry and region.

1 Revista Dinero (Colombian Economic Journal), 2018, leader in profits in the concessions sector.

HIGHWAYS AND AIRPORTS ROBUST PORTFOLIO

ROADWAY CONCESSIONS

Odinsa Grupo Argos Other

AIRPORT CONCESSIONS

• Fraud, bribery and corruption risk management policy

• Self-regulation and money laundering and financing of terrorism risk management policy

• Policy for relations between related companies

• Data protection policy

• Gifts and tokens of appreciation policy

POLICIES

CODES

• Code of Good Governance

• Code of Business Conduct.

MEDIA

• Transparency line

• Annual statement of potential sources of conflict of

interest

Sustainability as a part of our strategy

allows us to drive the generation of

shared value, that is, for our

stakeholders and for the company.

• We made progress in terms of

balance by developing road and

airport projects in balance with the

environment and the rights of people.

• We left our mark by becoming allies

of local development.

• We took advantages of opportunities,

which challenges us to learn, thus

ensuring competitiveness on the

market.

• Solid investment makes us the best

option.

HIGH STANDARDS OF CORPORATE GOVERNANCE

Leadership that inspires and motivates

people to achieve the major business

challenges and to experience values.

Collaborative work as the main source of

knowledge strengthening.

Innovation as differentiator to leave an

imprint wherever we have operations.

HIGHLY QUALIFIED AND COMMITTED TALENT

Aeropuerto Internacional El Dorado Aeropuerto Internacional Mariscal Sucre

Autopistas del Café Conexión Pacífico 2 Boulevard Turístico de Atlántico Malla Vial del Meta

Green Corridor Autopistas del Nordeste

Colombia Colombia Colombia

Colombia Aruba

Dominican Republic

Dominican Republic Ecuador

Non-controlling interests in Mariscal Sucre (Quito) and El Dorado (Bogota) airports.

Roadway concessions in operation4

Concessions under construction Airport concessions2 2

OUR PROJECTS

AUTOPISTAS DEL CAFÉ

2027Validity

Eje Cafetero, Colombia

Operated by: Autopistas del Café

270 kmLength

First generation concession, with a rating of 4.59 in a 5-scale in the evaluation of the status index of roads given on

concession.

General information

✓ Concession with guaranteed minimum income.

✓ Beginning and end of activities: January 1999 to January 2027.

✓Road corridor of 270.2 km.

✓ 7 toll stations, 3 customer care centers, 1 operational control

center and 1 weighing station.

✓ The project currently has no long-term debt.

AUTOPISTAS DEL CAFÉ

Relevant Figures

Total Traffic

Thousands of Vehicles

2012 2013 2014 2015 2016 2017 2018

9.77710.580

11.32812.147 12.544 12.891

12.080

EBITDA

Million of COP

2015 2016 2017 2018

46.788

62.491

80.351

35.228

✓ Favorable ruling on the arbitration tribunal which maintains the

term of the concession until January 2027

✓ Reinvestment of approximately COP 100,000 million between

2019 and 2020, as a result of surplus account of the

concession

CONEXIÓN PACÍFICO 2

2045Validity

Antioquia, Colombia

Operated by: Concesión La Pintada

98 kmLength

During 2017, the first disbursement of the structured funding was achieved under the "project finance” mode. Currently, the work

progress is close to 30%. The estimated date for the commissioning of all UF is October 10 of 2020.

✓ 98Km; Construction: La Pintada - Bolombolo (44 km) and

maintenance: La Pintada - Primavera (54 km).

✓ PPP of public initiative(4G - with forecast budgets and

collecting rights).

✓ Contractual milestones: (i) Awarded May 22, 2014; (ii)

Certificate of commencement: November 11, 2014.

✓ 100% of environmental licenses approved, certificate of

non-presence of communities, 30% of the project execution.

✓ 100% of the environmental licenses approved and certificate

of non-presence of communities

✓ Project execution at an advance of 65% (+8% above

schedule)

Relevant FiguresGeneral information

CONEXIÓN PACÍFICO 2

Total Traffic

Thousands of Vehicles

2015 2016 2017 2018

2.222 2.2762.498

2.617

EBITDA

Million of COP

2015 2016 2017 2018

307

9.677

23.472

120.765

GREEN CORRIDOR San Nicolás, Aruba

Operated by: Caribbean Infrastructure Company (CIC)

2035Validity

34 kmLength

General information

Green Corridor is a roadway concession in Aruba which is currently in the operation phase after have contained the Availability

Certificate in the second half of 2018. Likewise, the Project Completion Certificate was awarded in the 4Q of 2018.

✓ Contract of DBFM (Spanish acronym that stands for design,

construction, financing and maintenance) contract.

✓ Income for the road availability, there are no tolls.

✓ Awarded in July 2015. Term: 18 years from the time of road

availability.

✓ 95% of progress in the construction of the project.

✓ CAPEX of USD58.05 million.

✓ Senior debt of USD58.7 million and equity of USD20.03 million.

✓ The concession holder’s obligations are as follows:

✓Maintenance of the entire infrastructure.

✓ Control of environmental conditions and air quality.

✓Monitoring of the quality standards of works.

Project location

GREEN CORRIDOR

BOULEVARD TURÍSTICO

DEL ATLÁNTICO

2041Validity

Samaná, República Dominicana

Operated by: Boulevard Turístico del Atlántico

123,5 kmLength

Relevant figures

BTA is a roadway concession in the Dominican Republic that is in operation and maintenance phase. It was awarded in 2001, with

second stage in 2009, and works were completed in 2011.

General information

✓ The investment value of the project was USD180 million.

✓ The road has 123.51 km, of which 104.81 km correspond to

rehabilitation and 18.7 km to construction.

✓Guaranteed minimum income.

✓ Financial closure with multilateral entities by USD151.1 million to

15 years.

✓ The current debt of the project is USD 92 million and ends in

November 2024.

Project location

BOULEVARD TURÍSTICO DEL ATLÁNTICO

Total traffic

Thousands of vehicles

2013 2014 2015 2016 2017 2018

1.1131.272

1.3491.355 1.375

1.718

EBITDA

Million USD

2015 2016 2017 2018

2924

2927

2038Validity

Samaná, República Dominicana

Operated by: Autopistas del Nordeste

107 kmLength

AUTOPISTAS DEL

NORDESTE

Relevant figures

ADN is a roadway concession located in the Dominican Republic that is currently in operation and maintenance phase. The scope of

the contract is design, financing, construction, operation and maintenance for a term of 33 years.

General information

✓ Contract Law, approved by the Legislative Chambers and ratified

by the President.

✓Guaranteed minimum income.

✓ Awarded on July 18, 2001. The works were completed on June 30,

2008. Concession will end in 2041.

✓Contract to 30 years of operation, 107 km, 3 tolls.

✓ Financed through issuing bonds for USD 162 million, under

Regulation 144-A of the US. The debt balance is USD 123 million

and ends in April of 2024.

Project location

2013 2014 2015 2016 2017 2018

AUTOPISTAS DEL NORDESTE

Total Traffic

Thousands of Vehicles

2.754 2.959

3.906

3.5153.754

4.348

EBITDA

Million USD

2015 2016 2017 2018

26 25

50 46

2043Validity

Meta, Colombia

Operated by: Concesión Vial de Los Llanos

MALLA VIAL DEL META

The project has not begun yet because of substantial changes in the traffic forecast. The arbitration court resolved the controversy

on february 28. We are currently studying the decision, which can be subject to clarifications and complementarities.

General information

✓ PPP of Private Initiative (without government resources).

✓ Awarding April 9 2015, signing of the contract: May 5 and the

certificate of commencement on June 9, 2015.

✓ Subject of the Contract: (i) Granada corridor - Villavicencio -

Puerto López - Puerto Gaitán - Arimena Bridge. ii) Ring Road of

Villavicencio and accesses to the city - Meta Road Network.

Project location

MALLA VIAL DEL META

AEROPUERTO EL

DORADO

2027Validity

Bogotá, Colombia

Operated by: Opain

Relevant figures

El Dorado, operated by Opain, was awarded with Skytrax 4-star rating as the best airport in South America. In 2017, 6 contact positions

started and more than 25,000 m2 were commissioned to improve the passenger experience. Capacity increased to 40 million passengers.

General information✓ Third airport in Latin America by number of passengers and first airport in

Latin America by cargo movement.

✓ Purchase of 30% was improved by Grupo Argos in the first quarter of

2017.

✓ The expansion works of the National and International terminal were

completed in 2017, increasing the terminal built area to 223,700 m2.

✓ The investment plan keeps on going until 2027 with the maintenance and

complementary works.

✓ Renewable energy project (PV energy) in partnership with Celsia.

✓ Current debt balance is USD309.550.000, COP238.111.686.000.

2015 2016 2017 2018

AEROPUERTO EL DORADO

Aeropuerto Internacional El DoradoBogotá, Colombia

15,8 17,4 19,1 20,8 21,3 20,6

Passengers who travel through the airport

Million Passengers

2012 2013 2014 2015 2016. 2017

22,525,0

27,430,0 31,0 30,9

6,77,6

8,49,2 9,8 10,4

International

National

21,6

11,1

32,7

EBITDA

Million of COP

217.693

265.121

281.108

370.480

AEROPUERTO MARISCAL

SUCREQuito, Ecuador

Operated by: Corporación Quiport S.A.

2041Validity

Relevant figures

In December 2015, Odinsa Holding completed the acquisition of 50% of the company that owns 93% of the economic rights of Mariscal

Sucre Airport concessionaire in Quito (UIO), Ecuador. This concession is valid until 2041.

General information

✓Operations started on February 20, 2013

✓ Strong domestic travel market with 98% origin-destination of Quito

Capital.

✓ It is designed with a flexible structure of the runway and in the

passengers and cargo terminal facilities that allow adapting to growth.

✓ Awarded by Skytrax as best regional Airport in South America.

✓ The acquisition was made through Marjoram Riverside Company

(BVI), a company controlled by Odinsa Holding Inc, Odinsa subsidiary.

✓ USD 400 million bonds issuance, 12% interests rate and 2033

maturity. 144A / 3(c)(7) / Reg S.

Aeropuerto Internacional Mariscal Sucre

Quito, Ecuador

MARISCAL SUCRE

3,5 3,4 3,3 3,0 2,7 2,6

Passengers who travel through the airport

Million Passengers

2012 2013 2014 2015 2016 2017 2018

5,3 5,4 5,6

2,2

5,44,9 4,9

1,8 2,1 2,32,4

2,1

International

National

2,9

2,4

5,2

EBITDA

Millions of US$

2015 2016 2017 2018

116 107 106 111

New Private Initiatives

Sistema aeroportuario de Bogotá

Campo de vuelo

Cartagena Airport

Perimetral de la Sabana

Operational improvements in El Dorado runways

✓ Infrastructure improvement and regulation compliance

✓ Capacity increase and time savings

Operational capacity increase of El Dorado airport

✓ Leading-edge technology and Infrastructure improvement to meet the

2050 demand

✓ The surface will go from 240,000 to 400,000 sqaure meters

✓ The airport will have 3 runways and a capacity of 80 million

passengers

New Cartagena Airport construction

✓ 70,300 square meters terminal

✓ 11 million passengers capacity during its initial phase (2026)

✓ USD 800 million investment

Mobility ease between the south and north in Bogotá sabana

✓ Strategic and sustainable integration of the biggest Colombian city-

region

Contact information

Nicolás Valencia.Financial Planning and Treasury Managing Director.

Cra 43ª 1ª sur -143 Torre norte Piso 5

Medellín, Colombia

Tel: 5743198760 ext. 36109

nvalencia@odinsa.com

www.odinsa.com

Martín CalderónFinancial Planning Director.

Cra 43ª 1ª sur -143 Torre norte Piso 5

Medellín, Colombia

Tel: 5743198760 ext. 32552

mcalderon@odinsa.com

www.odinsa.com