The Chairwoman of the Red Eléctrica Group, Beatriz Corredor, and the CEO of the group, Roberto García Merino, have visited Colombia and Brazil to strengthen ties with their partner in Brazil, the Colombian Grupo Energía Bogotá. This is the first in-person meeting that both companies have held since 2020, when they agreed to jointly acquire, in equal shares, 100% of the shareholding of Argo Energía, a Brazilian company dedicated to the management and operation of high-voltage transmission grids in Brazil.

"Now that the health situation allows it, this visit underlines the spirit of collaboration of this joint venture and showcases the collaborative work that we have jointly been carrying out for two years with the aim of guaranteeing a quality electricity supply in Brazil” highlighted Beatriz Corredor, Chairwoman of Red Eléctrica. For his part, Roberto García Merino, the Group's CEO, valued this trip in a positive light in reference to the fact that "it consolidates a strategic alliance between two companies which today are recognised as benchmark power transmission companies in Latin America, and which are jointly contributing to strengthening the Brazilian electricity system".

The President of Grupo Energía Bogotá (GEB), Juan Ricardo Ortega, highlighted that "these have been two very important days in which we were able to show the top management of Red Eléctrica what we are doing in Brazil and what our goals are in the coming future. The Red Eléctrica Group has been key for GEB, as they have helped us consolidate our expansion plan in Brazil, a plan in which the joint work carried out to date has yielded great results and which has allowed us not only to learn a lot but also share our best practices. Red Eléctrica de España is truly our great ally".

The commitment to sustainability and the backing for innovation were two of the main areas of focus linked to the different meetings held during this visit. Both companies are pioneers in technological developments in the electricity sector and have undertaken sustainability as a strategic lever in their respective corporate roadmaps. Their aim is to transfer knowledge and best practices in these areas to Argo's electricity transmission activity in Brazil, through which they manage and operate 1,470 km of 500 kV and 230 kV high-voltage circuit line and 11 electricity substations.

The Brazilian company manages and operates three electricity infrastructure projects already in service - Argo I, II and III - which Red Eléctrica and Grupo Energía Bogotá manage under a 30-year concession contract. Argo I manages and operates a 1,150 km line that crosses the states of Maranhão, Piauí and Ceará and runs through 42 municipalities. Argo II is focused on the enlargement of the Janaúba III substation in northern Minas Gerais. Argo III was activated to build and operate 320 km of power transmission line and five electricity substations, located in the state of Rondônia. The latter two were commissioned this year.

Argo Energía's activity will be expanded in the near future when it incorporates the assets of Rialma Transmissora de Energía III S.A., whose acquisition process received final authorisation in early February. This acquisition will increase the total of 500 kV lines managed in the region to 322 km. This transaction is fully aligned with the 2021-2025 Strategic Plan of the Red Eléctrica Group, which is committed to consolidating its position in Latin America and driving organic growth as well as reinforcing the presence and strength of its existing business activities in the region.

During the visit, which lasted three days, Red Eléctrica's management team was able to learn more about the trajectory and expertise of Grupo Energía Bogotá and also learn about the current situation of the territory through various meetings with local communities and authorities. This tour end in São Paulo where both companies will visit the Argo Energía control centre.

About Argo Energía (Argo Energía Empreendimentos e Participações)

Argo Energia was founded in 2016 and since then has been contributing to the expansion of Brazil's electricity transmission grid. Its activity acts as a link between the electricity generation, distribution and consumption centres, offering service quality and progress to all the areas in which it is present. It has a workforce of more than 100 professionals.

www.argoenergia.com.br

About Grupo Energía Bogotá

With more than 125 years of history, Grupo Energía Bogotá (GEB) is a leading business group in the transmission and distribution of electricity and in the transport and distribution of natural gas in Colombia, Peru, Brazil and Guatemala. Additionally, it develops electric energy projects with Transmisión in Colombia. With TGI (Transportadora de Gas Internacional) it is the number one company in the transport of natural gas with more than 4,000 kilometres of gas pipelines. In Peru, through its companies Cálidda and Contugas, it is the top natural gas distributor and also has a presence in energy distribution through Electro Dunas. In Brazil, it is present through its subsidiary companies, Gebbras and Argo, and in Guatemala, it is the number one power transmission agent with Trecsa and Eebis.

www.grupoenergiabogota.com