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Annual Report 2018

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Annual Report 2018 Annual Report 2018 emgesa CONTENT THE COMPANY, ITS CONTEXT AND ITS MAIN RESULTS ............................4 OWNERSHIP STRUCTURE ........................................................................................................... 6 SHAREHOLDING STRUCTURE .................................................................................................... 6 CORPORATE GOVERNANCE ........................................................................................................ 7 CORPORATE PURPOSE ...............................................................................................................11 LETTER TO THE SHAREHOLDERS ............................................................................................ 13 OUR VALUE CHAIN ..................................................................................................................... 18 POWER GENERATION ................................................................................................................ 20 ASSET SALE AND MANAGEMENT ........................................................................................... 23 PURCHASING AND PROCUREMENT MANAGEMENT ............................................................. 36 SO WE PROJECT OURSELVES TOWARDS THE ENVIRONMENT ..................40 ENVIRONMENTAL MANAGEMENT ........................................................................................... 42 SUSTAINABILITY MANAGEMENT ............................................................................................. 46 RELATIONSHIP AND COMMUNICATION .................................................................................. 54 AN INTERNAL MANAGEMENT THAT LEVERAGES RESULTS ...................60 QUALITY, INNOVATION AND DIGITALISATION ........................................................................ 62 PERSONNEL MANAGEMENT ................................................................................................... 68 SAFETY AND HEALTH AT WORK ............................................................................................... 82 INTERNAL AUDIT MANAGEMENT .......................................................................................... 85 FINANCIAL RESULTS ..............................................................................88 FINANCIAL MANAGEMENT ....................................................................................................... 90 SEPARATE FINANCIAL STATEMENTS ...................................................................................... 94 Annual Report Enel-Emgesa 2018 3 THE COMPANY, ITS CONTEXT AND ITS MAIN RESULTS 4 Annual Report Enel-Emgesa 2018 Annual Report Enel-Emgesa 2018 5 OWNERSHIP STRUCTURE CORPORATE GOVERNANCE Board of Directors Chairman of the Board of Directors: José Antonio Vargas Lleras Enel S.p.A General Manager: Bruno Riga 51,8% First Alternate of the General Manager: Lucio Rubio Díaz 48,5% Second Alternate of the General Manager: Fernando Javier Gutiérrez Medina Enel Américas The Company has a Board of Directors conformed by seven (7) main members, each of them with an alternate, elected by the Other Minority General Shareholders’ Meeting through the electoral quotient system. In accordance with the Corporate Bylaws, as long as the Grupo Energía Bogotá Shareholders (Colombia) Company is a security issuer, 25% of the Board members shall be independent according to the law. The Board members are appointed for two-year terms, as per article 58 of the Corporate Bylaws, and they can be re-elected indefinitely, and without prejudice Economic interest: 48.5% to the faculty of the Shareholders Meeting to remove them freely at any time. The functions of the Board of Directors are described Voting interest: 56.4% Economic interest: 51.5% Economic interest: 0.1% Voting interest: 43.6% Voting interest: 0.1% in article 62 of the Corporate Bylaws. In the ordinary session No. 99 of the General Shareholders’ Meeting held on 20 March 2018, the election of the following Board of Directors members was approved: SEAT PRINCIPAL ALTERNATE FIRST ANDRÉS CALDAS RICO DIANA MARCELA JIMÉNEZ RODRÍGUEZ SECOND LUCIO RUBIO DÍAZ FERNANDO GUTIÉRREZ MEDINA Sociedad Portuaria Central Fundación Enel THIRD JOSÉ ANTONIO VARGAS LLERAS MICHELE DI MURRO Cartagena S.A. FOURTH ASTRID ÁLVAREZ HERNÁNDEZ ÁLVARO VILLASANTE LOSADA FIFTH DIANA MARGARITA VIVAS MUNAR CAMILA MERIZALDE ARICO SIXTH (Independent) LUIS FERNANDO ALARCÓN MANTILLA RODRIGO GALARZA NARANJO SEVENTH (Independent) LUISA FERNANDA LAFAURIE RIVERA MARIA PAULA CAMACHO ROZO SHAREHOLDING STRUCTURE On 26 December 2018, Mrs. Diana Margarita Vivas Munar submitted her resignation as a principal member of the fifth line of the Common shares with Preference shares without Total shareholding structure voting rights voting rights Board of Directors of the Company. This being the case and since no proposal has been received for the appointment of the new Shareholders Number of Number of (%) Total Total number of principal member and, therefore, no extraordinary session of the General Shareholders’ Meeting has been held for these purposes, (%) Interest (%) Interest shares shares interest shares the position will remain vacant until it is carried out. the new appointment by the Shareholders’ Meeting. Therefore, the composition Grupo Energía Bogotá S. A. 43,57% 55.758.250 100% 20.952.601 51,51% 76.710.851 of the Board of Directors on 31 December is as follows: E.S.P. Enel Américas S.A. 56,42% 72.195.996 –% – 48,48% 72.195.996 SEAT PRINCIPAL ALTERNATE Other minority shareholders 0,01% 7.315 –% – 0,01% 7.315 FIRST ANDRÉS CALDAS RICO DIANA MARCELA JIMÉNEZ RODRÍGUEZ 100% 127.961.561 100% 20.952.601 100% 148.914.162 SECOND LUCIO RUBIO DÍAZ FERNANDO GUTIÉRREZ MEDINA THIRD JOSÉ ANTONIO VARGAS LLERAS MICHELE DI MURRO FOURTH ASTRID ÁLVAREZ HERNÁNDEZ ÁLVARO VILLASANTE LOSADA FIFTH VACANTE CAMILA MERIZALDE ARICO SIXTH (Independent) LUIS FERNANDO ALARCÓN MANTILLA RODRIGO GALARZA NARANJO SEVENTH (Independent) LUISA FERNANDA LAFAURIE RIVERA MARÍA PAULA CAMACHO ROZO 6 Annual Report Enel-Emgesa 2018 Annual Report Enel-Emgesa 2018 7 Attendance to meetings by members of the Board of Directors Attendance to meetings by members of the Audit Committee The Board of Directors met on thirteen (13) occasions during the year 2018, of which twelve (12) were ordinary sessions and one (1) The Audit Committee during 2018 met in 6 (six) opportunities, four (4) sessions were ordinary, and two (2) were extraordinary. The was in extraordinary session. At all meetings there was a quorum to hold a session and decide validly, taking into account that the members of the Committee participated in these sessions as indicated below: members of the Board participated as indicated below: No. of sessions attended No. of sessions attended SEAT Principal Members Alternate Members * No. of sessions attended No. of sessions attended SEAT Principal Members Alternate Members * FIRST 5 1 FIRST 12 1 SECOND 4 2 SECOND 13 0 THIRD (Independent) 6 0 THIRD 12 1 FOURTH (Independent) 5 0 FOURTH 6 7 FIFTH 12 1 *The alternate members in blank did not have to replace the principal member insofar as there were neither absolute nor temporary absences. SIXTH (Independent) 11 2 SEVENTH (Independent) 12 0 Based on the foregoing, it is inferred that in all meetings there was quorum to meet and decide validly. *The alternate members in blank did not have to replace the principal member insofar as there were neither absolute nor temporary absences. Good Governance and Evaluation Committee Audit Committee In accordance with the provisions of the Corporate Bylaws and the Good Governance Code, the Company has a Good Governance and Evaluation Committee, made up of three (3) members of the Board of Directors. The Chairman of the Committee is elected In accordance with the provisions of the Corporate Bylaws, the Good Governance Code of the Company, and Act 964 of 2005, the among its members. This Committee has a Secretary who can be a member thereof or not. Company has an Audit Committee, composed of four (4) members of the Board of Directors, two (2) of which are independent members. The Chairman of the Committee is an independently elected member of the same committee. This committee has a The Board of Directors, in its session No. 455 of 24 April 2018 approved the composition of the Good Governance and Evaluation Secretary, who may or may not be a member. The Statutory Auditor attends the meetings of the Committee with the right to speak Committee, which was conformed as follows: but without vote. The Board of Directors in its session No. 455 of 24 April 2018 approved the composition of the Audit Committee, which was formed PRINCIPAL ALTERNATE as follows: JOSÉ ANTONIO VARGAS LLERAS MICHELE DI MURRO LUCIO RUBIO DÍAZ FERNANDO GUTIÉRREZ MEDINA ASTRID ÁLVAREZ HERNÁNDEZ ÁLVARO VILLASANTE LOSADA PRINCIPAL ALTERNATE LUCIO RUBIO DÍAZ FERNANDO GUTIÉRREZ MEDINA ASTRID ÁLVAREZ HERNÁNDEZ ÁLVARO VILLASANTE LOSADA The duties of the Good Governance and Evaluation Committee are described in Article 98 of the Corporate Bylaws, it being worth LUIS FERNANDO ALARCÓN MANTILLA RODRIGO GALARZA NARANJO to highlight: (i) Oversee that the shareholders, investors, other stakeholders and the market, at large, have full, truthful and timely LUISA FERNANDA LAFAURIE RIVERA MARÍA PAULA CAMACHO ROZO access to the company’s relevant information. (ii) Review and evaluate fulfilment of its duties by the Board of Directors over the period. The aspects to be included in the evaluation include the following: attendance of
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