March 2013

This presentation may contain forward-looking opinions including the intent, belief or current expectations of the Company and its management. Investors are cautioned that any such forward-looking opinions are not guarantee of future performance and involve a number of risks and uncertainties including, but not limited to, the risks detailed in the company’s financial statements. Gasco S.A. does not undertake any obligation to update forward-looking statements. No part of this presentation constitutes, or shall be taken to constitute, an invitation to invest in Gasco S.A. or any other entity.

Legal Notice

I. Company Profile

II. Natural Gas Operation

III. LPG Operation

IV. Financial Profile

V. Perspectives

Agenda

CGE 56,62%

Pérez Cruz Family* 12,79%

Marín Family* 4,89%

Almería Group* 3,53%

Pension Funds 1,98%

Others 20,18%

Gasco is one of the eldest companies in Chile, with over 155 years of experience in the Gas industry, operating:

LPG distribution in Chile and Colombia

Natural Gas distribution in Chile and Argentina

NGV distribution in Chile

Through affiliates operates:

LPG marine terminal LNG marine terminal Transnational NG Pipes (Chile/Argentina)

*CGE Holders

Ownership Structure 31/12/2012

Free float 22%

Gasco S.A.

Electricity

Distribution

In Chile

Electricity

Distribution

In Argentina

Electricity

Transmission

Electricity

Generation

Services &

Other Investments

Gas

Figures as of December 2012

Gas 57%

Electricity & Others

43%

CGE EBITDA 2012

US$736 MM

Gas 38%

Electricity & Others

62%

CGE 2012 ASSETS

US$3.884 MM

Gasco’s parent company

Gasco’s main companies

Inversiones GLP 70%

LP

G

NA

TU

RA

L

GA

S

Gasco GLP 100%

51% Gasmar 100%

Autogasco

52% Metrogas

50 % Gasnor /

Gasmarket

100% Gasco

Magallanes

30 % Innergy /

GP

100% Gassur

I. Company Profile

II. Natural Gas Operation

III. LPG Operation

IV. Financial Profile

V. Perspectives

Agenda

• 1995: Chile signed NG Integration

Protocol with Argentina • 1999: first transnational pipes (4)

started delivering NG

• 2004: supply problems from Argentina started arising; got worse by 2006

• 2009: 2 LNG plants started operating (North and central regions)

• Chile is open to the world LNG

suppliers

Domestic Production 3,5 MMm3/day

Demand 19 MM m3/day

LNG Mejillones 5,5 MMm3/day

LNG Quintero 10 MMm3/day

Argentinean Imports

200Mm3/day

Natural Gas in Chile

Natural Gas distribution in Santiago

• 2005-2009: faced shortage of NG from Argentina

• 2009: part of consortium to build LNG terminal in Quintero

• 2012: 5.125 km pipe network, 472.469 customers, 701MMm3

• 2012: Sales for thermoelectric generation 432MMm3

• 2012 EBITDA: US$275MM

• Ownership: 51,83% Gasco

• Distribution to res-comm & industrial customers in Santiago

126 119 123 140

90

9

68

152

190

275

-

50

100

150

200

250

300

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

MM

US$

EBITDA US$

• Ownership:

Enagas,40% Metrogas,20%

ENAP,20%Endesa,20%

• Total Investment: US$1.200 MM

• Start of Operation: July 2009

• Storage Capacity: 3 tanks, 335.000m3

• Current Regasification Capacity: 10MMm3/day

• 2014 Regasification Capacity: 15MMm3/day

• BG supplies LNG

LNG marine terminal

Natural Gas Distribution in the VIII Region

• Ownership: 30% Gasco

• Distribution to industrial customers in VIII region

• Operation affected by Argentinean NG supply

• 2012: 60MMm3 volume

• EBITDA: US$18MM (Includes Gasoducto del Pacífico)

• Ownership: 100% Gasco

• Distribution to res-comm customers in VIII region

• 2012: 27.000 customers, 25MMm3 volume

• EBITDA: US$8MM

Natural Gas distribution in Patagonia

• Ownership: 100% Gasco (Business Unit)

• Regulated distribution business in XII region

• 2012: 51.700 customers, 372 MMm3 volume

• EBITDA: US$13 MM

• Ownership: 85% Gasco

• First Compressed Natural Gas bus concession in Chile

• 61 buses in operation for public transportation

• Cleanest public transportation system in Chile

• 2012: 5 million passengers transported

13

• Ownership: 100% Gasco

• Distribution of NG and LPG for vehicles

• Clean and Efficient fuel at a convenient cost (versus gasoline)

• Currently focused in public transportation: taxis and buses

• 42 gas station and corners throughout Chile

• 2012: Autogas LPG volume 11.380 Tons

• 2012: NGV volume 5,8 MMm3

NGV / Autogas

• Ownership: 50% Gasco

• Acquired in 1992, regional concession

• Operation in Argentina allowed Gasco to learn about NG market, experience that would be used in the second half of the ’90s to establish NG companies in Chile

• 2012: 2.063 MMm3 volume

• NG prices frozen since 2001

326 335 344 355 371 390 403 420 440 458

370 394 421 452 487 520 537 544 551 558 696 729 765

807 857 909 941 964 991 1.015

0

200

400

600

800

1.000

1.200

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Natural Gas Customer Evolution (Thousands, Chile y Argentina)

Argentina Chile

Natural Gas distribution in Argentina

I. Company Profile

II. Natural Gas Operation

III. LPG Operation

IV. Financial Profile

V. Perspectives

Agenda

• Industry size: 1.100.000 tons • Per capita consumption is around

70kg

• Imports account for 70% total consumed, mostly private companies

• Mature and very competitive market, 3 main actors

• Distribution Format: 70% cylinders (14 million) and 30% tanks (95 ths)

• Industry size: 550.000 tons

• Per capita consumption is around 34kg

• LPG self-sufficient, 90% produced by state owned company Ecopetrol

• 40+ actors, Chilean companies represents 70% of the Marketshare

• 2009 Regulatory Changes: new Safety and Service standards

• Consolidation ahead

CHILE COLOMBIA

LPG Industry

• Ownership: 100% Gasco

• Distribution of LPG along Chile

• 5 Plants and 19 Distribution Centers

• Formats: Cylinders (2, 5,11,15 & 45kg) and Tanks

• #1 Market Share in Metropolitan Region

• 305.210 tons commercialized in 2012

• 2012: EBITDA US$61MM

Estimated Figures as of Dec 2012

LPG in Chile

18

• Ownership: 51% Gasco

• Largest private LPG marine terminal in Chile

• 4 storage tanks with 85.000m3 capacity (propane and butane)

• 5th storage tank under construction.

• Proven security in LPG supply from around the globe

• Operated 56% of total LPG demand in 2012

• 2012: EBITDA US$51MM

LPG marine terminal

• Ownership: 70% Gasco

• First international player to seize opportunity

• 2010: Acquisition of 3 distribution companies

• Geographic Coverage: 22 of 32 departments throughout Colombia.

• VIDAGAS brand launched: consolidate all operations

• US$20mm investment: cylinders and 81 distribution trucks

• 79.000 tons commercialized, 11% market share

• 2011: Acquisition (70%) of UNIGAS, adding 7% market share

• 2012: Additional acquisitions allowed Gasco to achieve 23% market share

• 2012: EBITDA US$15MM

LPG in Colombia

I. Company Profile

II. Natural Gas Operation

III. LPG Operation

IV. Financial Profile

V. Perspectives

Agenda

175 178 205 200

183

124

176

259

304

422

0

50

100

150

200

250

300

350

400

450

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Consolidated EBITDA

Gas Natural 68%

Gas Liquado 30%

Neg. Int. 2%

EBITDA 2011

Gas Natural 69%

Gas Liquado 27%

Neg. Int. 4%

EBITDA 2012

• EBITDA affected by Natural Gas shortages from Argentina (2007 - 2009)

• With LNG terminal service, NG subsidiaries recover operation.

• EBITDA composition changed significantly: NG recovers importance.

304 MMUS$

422 MMUS$

• Figures as of December 2012 • CLP/USD: constant

MM

US$

Consolidated EBITDA: Gasco S.A.

1,45

1,33 1,27

1,20 1,26 1,28

1,22 1,14 1,15

0,95

0,00

0,20

0,40

0,60

0,80

1,00

1,20

1,40

1,60

0

500

1.000

1.500

2.000

2.500

3.000

3.500

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

MM

US$

Liabilities Minority Interest Equity Leverage

GN 65%

GLP 23%

Neg.Int 7%

Otros 5%

809 791 778 756 845

957 914 886 866 874

0

200

400

600

800

1.000

1.200

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Financial Debt

570 622 751 785

989 1.095

941

1.400

1.940

2.154

0

500

1.000

1.500

2.000

2.500

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Consolidated Incomes

Total Assets 31/12/2012 IFRS

3.036

MMUS$

IFRS IFRS

MM

US$

MM

US$

Financial Profile: Gasco S.A.

• Figures as of December 2012 • CLP/USD: constant

Company Humphreys Fitch Ratings Feller

Gasco S.A. AA Stable

A+ Positive outlook

-

CGE S.A. - A+ Negative outlook

A+ Stable

Metrogas S.A. AA- Stable

- A+ Stable

Humphreys raised the long-term Gasco´s rating from AA- (outlook: positive)

to AA (outlook: stable) on February, 2013

Local Rating International Rating *

Fitch Ratings A+

Outlook +

Humphreys AA

Outlook Stable

BBB -

BBB+

* Gasco S.A. doesn´t have international rating

Local Rating: Gasco S.A. – CGE – Metrogas

Rate Structure: aim to maintain 80-90% fixed

* Figures as of December 2012

Well diversified debt

Long Term Debt Maturity Profile

Duration 6.5 years

Debt currency aligned to businesses purpose Fixed

83%

Variable 17%

Interest Rate Structure

Short Term 19%

Long Term 81%

Term Structure

Bonds 67%

Banks 29%

Leasing 4%

Debt by instrument

NG 48%

LPG 13%

Holding 29%

Int. Bus. 10%

Debt by Business

UF 79%

USD 1%

COP 11%

CLP 9%

Currency Structure

Debt Profile: Gasco S.A.

Debt Structure & Financial Ratios: Gasco S.A.

* Debt as of December 2012

0

20

40

60

80

100

120

2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029

MM

M$

Financial Debt Structure at 31/01/2013

Gasco Metrogas Gasco GLP Gas Sur IGLP -UNIGAS Gasmar

5,68 5,25

4,63 4,46

3,79 3,79

4,62

7,71

5,23

3,42 2,85

2,07

3,30 3,03 3,37 3,46

4,16 4,30

3,63 2,26

3,16

5,11 5,54

7,25

1,40 1,43 1,45 1,33 1,27 1,20 1,26 1,33 1,22 1,14 1,15

0,95

-

1,00

2,00

3,00

4,00

5,00

6,00

7,00

8,00

9,00

10,00

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Ratios Gasco S.A.

Financial Debt / EBITDA EBITDA / Financial Expenses Leverage

133

101

40

60

80

100

120

140

ene-12 feb-12 mar-12 abr-12 may-12 jun-12 jul-12 ago-12 sep-12 oct-12 nov-12 dic-12

Gasco Stock** v/s IPSA -IGPA

Gasco IPSA

906

1.217

1.424 1.288

1.701

1.457

1.179

1.490

993

585

1.067 1.148

1.162

1.365

0

250

500

750

1.000

1.250

1.500

1.750

Dic-99 Dic-00 Dic-01 Dic-02 Dic-03 Dic-04 Dic-05 Dic-06 Dic-07 Dic-08 Dic-09 Dic-10 Dic-11 Dic-12

MM

US$

Market Cap*

**Considers reinvestment of dividens

Market Cap & Stock performance: Gasco S.A.

• Figures as of December 2012 • CLP/USD: constant

I. Company Profile

II. Natural Gas Operation

III. LPG Operation

IV. Financial Profile

V. Perspectives

Agenda

• Diversified: Industry and Geography.

• Optimization and innovation in LPG business.

• Continue leveraging on natural gas business

• Position vehicular gas as an alternative source of energy

• Consolidation in Colombia

Provides cash flow generation stability

Medium to long term growth opportunities

Perspectives

March 2013