Organizacion Terpel Sa · BVC:TERPEL
Organizacion Terpel Sa — Q1 2025 Earnings Presentation
49 slides from Organizacion Terpel Sa's earnings presentation, March 2025
Slide 1: Results 1Q25
Slide 2: EBITDA & Net Profit
EBITDA & NET PROFIT (Billions of pesos) 463* 461 436 189** 147 167 11** o o Q1-20 Q1-21 Q1-22 Q1-23 Q1-24 Q1-25 o EBITDA Net Profit EBITDA* Net Profit** o EBITDA 1Q25: COP 436 billion Δ 1Q25-1Q24: -5 % o NET PROFIT 1Q25: COP 167 billion Δ 1Q25-1Q24: 14% DEBT / EBITDA 1.7 x Calculated over 12 *Adjust
Slide 3: Bottling of Mobil 1 ESP 5W-30 engine oil in Colombia
Bottling of Mobil 1 ESP 5W-30 engine oil in Colombia
Slide 4: Mobil and Auteco join forces to drive innovation in mobility
Mobil and Auteco join forces to drive innovation in mobility • o o o
Slide 5: With Voltex, we're doubling down on sustainable mobility
With Voltex, we’re doubling down on sustainable mobility.
Slide 6: Modernizing our brand through digital transformation
Modernizing our brand through digital transformation °
Slide 7: S&P confirms Organización Terpel's AAA rating
S&P confirms Organización Terpel’s AAA rating
Slide 8: ESG
E S G
Slide 9: Stakeholder engagement: Awards and rankings
Stakeholder engagement Awards Ranking Colombia * No. 19 - Ethics and Governance * No. 24 - Social Responsibility * No. 38 - Sustainability * No. 22 - Ethics and Governance + No. 32 -Social Responsibility * No. 46 - Sustainability Panama * No. 14- Ethics and Governance * No. 17 - Ethics and Governanc
Slide 10: Stakeholder engagement
Stakeholder engagement Awards graduated from the Soy Opportunity Foundation course as "captains" in more than throughout the country.
Slide 11: ESG Dashboard: Environmental
Environmental, Social, and Governance (ESG) Dashboard ESG management in numbers © Q1-2025 ENVIRONMENTAL Plastic lubricant containers recycled 13.19 tons 28% - Target: 48 tons Cups saved in Altoque stores is 68118 7.2% - Target: 10% or total beverages sold Food waste utilized +p 11 tons 34% ~ Target:
Slide 12: ESG Dashboard: Environmental
Environmental, Social, and Governance (ESG) Dashboard Q1-2025 Gestion ASG en cifras @) ENVIRONMENTAL Carbon Footprint compensation - through carbon offsets via carbon credits from Rumbo a 6 456 tons orcozeq 94% - Target. 6 861 tons of c02eaq Tons of CO2e avoided from our carbon footprint via solar e
Slide 13: ESG Dashboard: Environmental
Environmental, Social, and Governance (ESG) Dashboard sg management in numbers @) Q1-2025 ENVIRONMENTAL Renewable Energy Generation and Self-Generation Projects through Terpel Energia 7 096 23.4% - Meta:41 own Electromobility: Kwh sold in EDS network in Public Spaces <~ 254496 52 2% - Meta: G87 Mil
Slide 14: ESG Dashboard: Social
Environmental, Social, and Governance (ESG) Dashboard ESG management in numbers © Q1-2025 PS Results SOCIAL Turnover rate Hitt Do, 24% - Target. <9.1% ATRTETT . (Turnover 2024) % of women in the workforce Q 35% 102.9% - Target. 34% oftotal workforce Compliance with defined health and safety measures
Slide 15: Progress on Material Aspects
. Progress on Material Aspects @) Our material issues PORTFOLIO AND QUALITY CONTRIBUTION OF THE BUSINESS UNITS OPERATIONS TO FINANCIAL SUSTAINABILITY CLIMATE CHANGE AND ENERGY TRANSITION COMMUNITY RELATIONS AND ETHICS GOVERNANCE DEVELOPMENT 24 OPERATIONAL NAG ad @ Can RESPONSIBLE SUPPLY CHAIN DIVERS
Slide 16: Progress on Material Aspects: Ethics governance
Progress on Material Aspects ©) ASPECT: Ethics governance We published our 2024 Integrated Sustainability Report 2 (ge) = ice — NM > WZ) 1 Liquid petroleum gas
Slide 17: Progress on Material Aspects
Progress on Material Aspects Legalmente streamlines legal management with accurate answers and customized documents tailored to user needs.
Slide 18: Progress on Material Aspects
Progress on Material Aspects ‘% Key figures since the Foundation was established in 2023: ity students reached teachers supported schools impacted classrooms and libraries delivered “2 (ge) = ce} J a) > WV)
Slide 19: © terpel
© terpel
Slide 20: Service station and convenience network
2,127 414 20 40 192 153 3 7 33 20 1 110 14 3 5 vs 1Q24 (1) Includes 52 Sbarro points at service stations in Colombia and Panama (2) Convenience services in Colombia include 2 Home Burgers, 7 Sbarro outside gas stations, and 1 Mimos.
Slide 21: Market leaders
44% 64%1 20% 37% 45% 6% 36% 3% 18% 8% 37% 5% 10% 13% 15% 26% Market leaders
Slide 22: EBITDA distribution, volume and EBITDA evolution
EBITDA Distribution (Share % 2025) 14% 13% 69% 1% 2% Volume (Millions gallons) +3 +1 Volume, EBITDA y EBITDA* Evolution +19 (Millions gallons & billion COP$) -3 -5 778 850 513 434 600 380 461 463 456 800 333 262 436 500 764 400 750 300 700 200 764 799 769 798 768 778 815 813 791 650 100 600 0 Q1-24
Slide 23: EBITDA and Net Profit Evolution
EBITDA vs. EBITDA w/o Inv. Adj. (Billion pesos) 500 400 461 440 470 436 300 200 100 0 1Q24 1Q25 EBITDA EBITDA w/o Inv. Adj EBITDA & Net Profit Evolution (Billion pesos) 167 147 153 167 121 110 EBITDA* 44 72 2 (Billion pesos) +4 537 +15 489 488 482 463 460 406 -3 -3 333 286 461 -37 436 Q1-23 Q2-23 Q3
Slide 24: Volume and Gross Profit by line
Volume per afiliate Volume per line (% 2025) (Share % 2025) 8% 8% 4% 17% 76% 74% 10% 2% 2% Volume Gross Profit (Millions gallons) (Billion pesos) +5 +7 +3 +1 +41 -1 -5 +15 778 -17 912 -4 764 882 Q1-24 SSs Av&Mar. Lubricants Industry Q1-25 Q1-24 Lubricants Others CCSS SSs Industry Av&Mar. Q1-25 *Gros
Slide 25: Colombia and Panama stations: volume and gross profit
389 2,127 stations 50 51 101 192 stations 390 97 445 vs. 2,108 1Q24 vs. 176 1Q24 436 7% Gross Margin vs. 8% 1Q24 17% Gross Margin vs. 17% 1Q24 Volume Gross Profit Volume Gross Profit Q1-24 Q1-24 Q1-25 Q1-24 Q1-25 Q1-24 Q1-25 Gr. 2% Dr. 0% Gr. 2% Dr. -5% 110 stations 16 33 stations 16 15 15 60 vs. 10
Slide 26: Country volume and gross profit
3% 2% 16 Gross Margin Gross Margin 40 vs. 6% 1Q24 20 vs. 1% 1Q24 37 18 10 2.8 2.3 Volume Gross Profit Volume Gross Profit Q1-24 Q1-25 Q1-24 Q1-24 Q1-24 Q1-25 Dr. -7% Dr. -40% Gr. 21% Dr. -13% 1.2 0.17 5 6 5 6 10% Gross Margin vs. 9% 1Q24 0.7 0.13 1% Gross Margin vs. 1% 1Q24 Volume Gross Profit Volum
Slide 27: Country volume and gross profit
7.01 7.01 96 143 5 39% 4.8 Gross 36% 6.3 Gross Margin Margin vs. vs. 37% 1Q24 29% 1Q24 72 131 Volume Gross Profit Volume Gross Profit Q1-24 Q1-25 Q1-24 Q1-25 Q1-24 Q1-24 Q1-25 Gr. 1% Gr. 33% Gr. 11% Gr. 9% 15 0.20 3.0 0.18 Gross 1.06 1.03 10 26% Gross Margin vs. 20% 1Q24 2.6 27% Margin vs. 27% 1Q24
Slide 28: Airports: volume and gross profit
8% UB Cons. 18 20 15 5 105 27 93 44 Airports Airports 31 56 vs. 20 1Q24 vs. 5 1Q24 3% 11% 23 Gross margin Gross margin vs. 4% 1Q24 vs. 11% 1Q24 -47 -12 Volume Gross Profit Volume Gross Profit Q1-24 Q1-24 Q1-25 Q1-24 Q1-24 Q1-25 Dr. -17% Dr. -16% Gr. 13% Dr. -29% 3 1 Airport 12 Airports 6.1 0.8 vs. 1
Slide 29: Convenience services: sales and gross profit
5% UB Cons. 414 153 38 16 Convenience 52 22 convenience 50 31 15 services 20 services vs. 153 1Q24 45% vs. 397 1Q24 45% Gross Margin vs. 42% 1Q24 Gross Margin vs. 39% 1Q24 Sales Gross Profit Sales Gross Profit Q1-24 Q1-24 Q1-25 Q1-24 Q1-25 Q1-24 Q1-25 Gr. 25% Gr. 13% Gr. 4% Gr. 14% 20 convenience 14
Slide 30: Quarterly Financial Results: Colombia
Quarterly Financial Results Colombia
Slide 31: Colombia: EBITDA and accrued net profit
69% EBITDA Cons. • Results continue to be leveraged by the performance of Lubricants and logistics efficiencies • Better margins service stations and aviation • Negative inventory adjustment due to lower price of jet fuel • Non-recurring expenses for strategic projects. • Lower financial expenses du
Slide 32: Quarterly Financial Results: Panama
Quarterly Financial Results Panama
Slide 33: Panama: EBITDA and accrued net profit
14% EBITDA Cons. • Aviation volume impacted by loss of a major customer. • Higher unit margins due to loss of low-margin industry and aviation customers • Lower profits and more competitive fuel margins • Negative quarterly inventory adjustment due to fall in fuel prices • Reversal of provision of C
Slide 34: Quarterly Financial Results: Peru
Quarterly Financial Results Peru
Slide 35: Peru: accrued net profit
• Higher lubricant margins due to commercial terms and strategic accounts • Higher volumes due to expansion of wholesale business • Lower depreciation expense due to service station divestiture project • Higher consulting and maintenance plan expenses for the divestiture of fuel and convenience busi
Slide 36: Quarterly Financial Results: Ecuador
Quarterly Financial Results Ecuador
Slide 37: Ecuador: accrued net profit
2% • Improvement in lubricants margins due to lower discounts and optimization of cost per barrel in March • Higher service station margin due to sales mix • Higher non-operating income from favorable resolution of prior years' tax claims • Higher expenses due to payment of 2024 performance bonuses
Slide 38: Quarterly Financial Results: The Dominican Republic
Quarterly Financial Results The Dominican Republic
Slide 39: Dominican Republic: EBITDA and accrued net profit
EBITDA Cons. • Lower volumes due to the relocation of international flights by one of our customers to an airport where we do not operate • Impact of USD/DOP exchange rate depreciation on DOP-denominated margin • Negative quarterly inventory adjustment due to lower jet fuel prices • Lower expenses r
Slide 40: Corporate Financial Indicators
Slide 41: Consolidated Cash Flow and Evolution
Consolidated Cash Flow Consolidated Cash Flow Evolution (Billion pesos) (Billion pesos) 1,223 1,163 Initial Balance… 1.223 1.092 916 849 851 EBITDA IFRS 15 463 647 Leases IFRS 16 34 458 443 Working Capital 1.470 182 Taxes 63 Capex 75 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Free Cash Fl
Slide 42: Financial liabilities composition and debt maturity profile
Composition of financil liabilities Term Breakdown Rate Breakdown 8% 5% 17% 68% 3,864 22% 81% 2,981 2,981 $COP 65% $COP 11% $COP MM 19% MM MM 65% 32% 7% Colombia Panamá Ecuador Perú Arr. Financieros ST LT FIXED CPI SOFR IBR Debt Maturity Profile Ecuador (COP billions) $84 Pérú Panama $42 1 $ 304 1 C
Slide 43: EBITDA vs. Interests, ROIC and ROCE, Debt/EBITDA
EBITDA vs. Interests Evolution 200 10,0x 5.3x 6.1x 8,0x 3.3x 2.6x 3.0x 3.8x 4.5x 150 3.0x 3.9x 6,0x 4,0x 2,0x 100 0,0x 121 -2,0x 50 -4,0x 122 123 118 101 90 78 72 66 -6,0x - -8,0x Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Interest (Billions) EBITDA/Interest ROIC** and ROCE** Evolution (*
Slide 44: CAPEX COP$ 75.075 million
78% 25% Service Convenien Maintenance stations ce services Capex 10 4 75% 53% New New 8% of the total 19% points points 1% 5% 2% 4% 0%1%3% CAPEX COP$ 75.075 million Accrued CAPEX (Billion pesos) o COP 9 billion was invested during the quarter in the opening of 10 new service stations and 4 new conve
Slide 45: Investor relations contact
e-mail: inversionistasIR@terpel.com Phone: +(571) 326-7878 Ext. 1529 https://www.terpel.com/Accionistas/Relacion-con- Inversionistas/Resultados-Financieros/
Slide 46: EBITDA and Net Profit by quarter
EBITDA (COP $MM) 631 603 602 593 532 560 476 422 328 454 464 460 406 482 489 463 468 488 497 286 508 336 333 537 337 451 510 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 EBITDA* EBITDA w/o Inv. Adj EBITDA/Gln Figures in billion Colombian pesos Net Profit (COP $MM) 167.114 166.880 153.354 14
Slide 47: EBITDA by country
Panamá Perú Colombia 38.307 198.548 81.741 Q1 42.635 Q1 338.475 Q1 64.623 57.869 301.075 61.451 40.791 138.184 68.890 Q2 52.534 Q2 331.672 Q2 63.859 - 43.526 369.034 Q3 82.692 Q3 52.303 Q3 329.664 58.818 - 55.715 268.081 44.272 Q4 54.284 Q4 307.136 Q4 58.962 - Ecuador Rep. Dom. 8.930 5.845 Q1 8.575
Slide 48: Assets and Liabilities
9.9 6.8 3.1 2.0 Assets Liabilities 29% 7% 1% 1% 13% 12% 47% 6% 13% 32% 0% 39%
Slide 49: Adjusted EBITDA and EBITDA by country
Para hacer comparable la información histórica en las presentaciones trimestrales de resultados se ha venido presentando un EBITDA (EBITDA ajustado) que descuenta los arrendamientos financieros por derechos de uso, de acuerdo con la norma NIIF 16, junto con el descuento de las primas de capital conf