EMPRESA DE TELECOMUNICACIONES DE BOGOT S.A. E.S.

Estados Financieros Separados NIIF 2016 - 2015 - 2014/

Saparate Financial Statements IFRS 2016 - 2015 - 2014

ESTADOS DE LA SITUACIN FINANCIERA SEPARADA / A Jun2016 /

SEPARATE STATEMENT OF FINANCIAL POSITION As of Jun 2016

(Miles - Pesos / Thousand - Pesos )

Activos / Assets
Activos corrientes / Current Assets
Efectivo y equivalentes al efectivo / Cash and cash equivalents 272,844,038
Inversiones corrientes / Current investments -
Cuentas comerciales por cobrar y otras cuentas por cobrar corrientes / Commercial accounts receivable
232,732,693
and other current accounts receivable
Inventarios corrientes / Current inventory 16,492,074
Activos por impuestos corrientes, corriente / Current tax assets, current 211,990,847
Otros activos financieros corrientes / Other current financial assets 41,774,933
Otros activos no financieros corrientes / Other current non-financial assets 19,305,596

Total activos corrientes distintos de los activos no corrientes o grupo de activos para su
disposicin clasificados como mantenidos para la venta o como mantenidos para distribuir a los propietarios
795,140,181
/ Total current assets other than non-current assets or any other group of assets classified as held for sale or
maintained to be distributed to shareholders

Activos corrientes totales / Total Currenta Assets 795,140,181

Activos no corrientes / Non-Current Assets
Propiedades, planta y equipo / Property, plant and equipment 2,743,504,089
Plusvala / Capital gains 26,283,671

Activos intangibles distintos de la plusvala / Intangible assets other than capital gains 455,125,143
Inversiones contabilizadas utilizando el mtodo de la participacin / Investments accounted using the equity
38,531,053
method
Inversiones en subsidiarias, negocios conjuntos y asociadas / Investments in subsidiaries, joint ventures
3,999,490
and partnerships
Cuentas comerciales por cobrar y otras cuentas por cobrar no corrientes / Commercial accounts receivable
21,131,115
and other non-current accounts receivable
Activos por impuestos diferidos / Deferred tax assets 488,586,604

Otros activos no financieros no corrientes / Other non-current non-financial assets 3,578,602

Total de activos no corrientes / Total non current assets 3,780,739,767

Total de activos / Total assets 4,575,879,948
ESTADOS DE LA SITUACIN FINANCIERA SEPARADA / A Jun2016 /
SEPARATE STATEMENT OF FINANCIAL POSITION As of Jun 2016

Patrimonio y Pasivos / Equity and Liabilities

Pasivos / Liabilities
Pasivos corrientes / Current Liabilities -
Obligaciones financieras corrientes / Current borrowings 40,000,000
Disposiciones actuales / Current provisions -

Provisiones corrientes por beneficios a los empleados / Current provisions for employee benefits 44,470,746

Otras provisiones corrientes / Other current provisions 4,040,474

Total provisiones corrientes / Total Current Provisions 48,511,220
Cuentas por pagar comerciales y otras cuentas por pagar / Commercial accounts payable and other
488,700,743
account payable
Pasivos por impuestos corrientes, corriente / Current tax liabilities, current 121,422,239

Otros pasivos no financieros corrientes / Other current non-financial liabilities 112,981,338

Total de pasivos corrientes distintos de los pasivos incluidos en grupos de activos para su
disposicin clasificados como mantenidos para la venta / Total current liabilities other than the liabilities 811,615,540
included in asset groups classified as held for sale

Pasivos corrientes totales / Total Current liabilities 811,615,540

Pasivos no corrientes / Non-Current Liabilities
Obligaciones financieras no corrientes / Non-current borrowings 530,180,000
Provisiones no corrientes / Non-current provisions
Provisiones no corrientes por beneficios a los empleados / Non-current provisions for employee
272,454,466
benefits
Otras provisiones no corrientes / Other non-current provisions 341,109,194
Total provisiones no corrientes / Total non-current provisions 613,563,660
Cuentas comerciales por pagar y otras cuentas por pagar no corrientes / Commercial accounts payable
288,502,928
and other non-current accounts payable
Pasivo por impuestos diferidos / Deferred tax liabilities 182,409,398

Otros pasivos no financieros no corrientes / Other non-current non-financial liabilities 10,505,927

Total de pasivos no corrientes / Total Non-Current Liabilities 1,625,161,913

Total pasivos / Total Liabilities 2,436,777,453
Patrimonio / Equity
Capital emitido / Issued Share Capital 1,924,419
Prima de emisin / Share Premium 262,471,466
Resultado del ejercicio / Fiscal year results (113,002,550)
Ganancias (prdidas) acumuladas / Year-to-date profits (loos) 375,773,382
ESTADOS DE LA SITUACIN FINANCIERA SEPARADA / A Jun2016 /
SEPARATE STATEMENT OF FINANCIAL POSITION As of Jun 2016

Otras participaciones en el patrimonio / Other equity interests 30,854,733

Otras Reservas / Other Reserves 1,581,081,045

Patrimonio atribuible a propietarios de la controladora / Controlling shareholder equity 2,139,102,495

Patrimonio total / Total Equity 2,139,102,495

Total de patrimonio y pasivos / Total Equity and Liabilities 4,575,879,948
 A Mar 2016 / A Dic 2015 / A Sept 2015 / A Jun2015 / A Mar 2015 /
As of Mar 2016 As of Dec 2015 As of Sept 2015 As of Jun 2015 As of Mar 2015

340,530,369 585,356,867 747,152,131 855,713,761 910,765,893

3,630,319 27,757,764 - ### -

237,178,436 235,902,717 244,767,634 238,591,385 223,702,333

20,805,039 20,704,775 17,109,928 30,376,455 57,658,196

199,420,464 189,295,402 187,261,285 176,217,646 176,084,937
35,080,718 41,714,488 56,928,062 68,420,084 53,151,291
26,059,694 9,458,844 11,668,171 18,927,253 26,290,880

862,705,039 1,110,190,857 1,264,887,211 1,388,246,584 1,447,653,530

862,705,039 1,110,190,857 1,264,887,211 1,388,246,584 1,447,653,530

- - ### -
2,759,898,083 2,766,791,286 2,616,093,988 2,473,013,105 2,370,707,483
26,283,671 ### 26,283,671 ### 26,283,671

445,719,993 432,670,721 416,956,082 400,449,723 387,851,935

43,322,579 44,961,947 35,847,504 ### 41,654,721

4,769,005 ### 4,769,005 ### 4,769,005

20,789,082 21,892,368 137,983,861 17,359,386 17,779,318

488,586,604 ### 376,124,533 374,949,603 336,237,221

2,235,766 2,284,067 2,325,160 2,410,818 2,488,423

3,791,604,783 3,788,239,669 3,616,383,804 3,335,082,815 3,187,771,777

4,654,309,822 4,898,430,526 4,881,271,015 4,723,329,399 4,635,425,307
 A Mar 2016 / A Dic 2015 / A Sept 2015 / A Jun2015 / A Mar 2015 /
As of Mar 2016 As of Dec 2015 As of Sept 2015 As of Jun 2015 As of Mar 2015

- ### - ### -
- ### - ### -
- ### - ### -

43,651,726 46,484,076 45,435,976 41,001,900 29,681,008

2,481,586 2,956,676 4,321,043 4,490,458 4,127,409

46,133,312 49,440,752 49,757,019 45,492,358 33,808,417

465,765,379 627,356,184 629,917,317 489,835,817 385,072,548

88,713,409 98,352,629 80,332,696 50,180,568 67,187,857

138,521,360 147,043,416 115,481,439 110,900,714 109,484,524

739,133,460 922,192,981 875,488,471 696,409,457 595,553,346

739,133,460 922,192,981 875,488,471 696,409,457 595,553,346

- - ### -
530,180,000 ### 530,180,000 ### 530,180,000
- - ### -

273,975,732 275,598,716 319,833,631 325,298,128 336,902,585

341,069,649 340,290,711 189,981,512 189,494,285 189,157,427

615,045,381 615,889,427 509,815,143 514,792,413 526,060,012

358,502,877 ### 370,160,533 405,780,209 1,576,490

182,409,398 ### 196,505,714 196,505,715 210,858,012

10,630,099 10,644,092 3,365,262 3,391,979 3,516,636

1,696,767,755 1,697,625,794 1,610,026,652 1,650,650,316 1,272,191,150

2,435,901,215 2,619,818,775 2,485,515,123 2,347,059,773 1,867,744,496
- - ### -
1,924,419 ### 1,924,419 ### 1,924,419
262,471,466 ### 262,471,466 ### 262,471,466
(60,203,144) (36,538,108) 111,286,112 67,930,766 48,327,232
375,773,382 444,432,113 685,809,832 ### 685,809,832
 A Mar 2016 / A Dic 2015 / A Sept 2015 / A Jun2015 / A Mar 2015 /
As of Mar 2016 As of Dec 2015 As of Sept 2015 As of Jun 2015 As of Mar 2015

30,854,733 (1,265,890) (1,265,890) ### (1,265,890)

1,607,587,751 ### 1,335,529,953 1,359,399,033 1,770,413,752

2,218,408,607 2,278,611,751 2,395,755,892 2,376,269,626 2,767,680,811

2,218,408,607 2,278,611,751 2,395,755,892 2,376,269,626 2,767,680,811

4,654,309,822 4,898,430,526 4,881,271,015 4,723,329,399 4,635,425,307
 A Dic 2014 /
As of Dec 2014

861,908,722
260,860,208

225,206,152

13,162,937
161,971,511
36,934,194
12,732,017

1,572,775,741

1,572,775,741
-
2,413,235,920
26,283,671

384,046,626

41,654,722

4,769,005

18,986,675

322,624,552

2,573,771

3,214,174,942
4,786,950,683
 A Dic 2014 /
As of Dec 2014

-
58,040
-

31,631,444

3,798,289
35,429,733

476,447,287

51,560,895

122,537,923

686,033,878

686,033,878
-
530,180,000
-

337,171,346

188,548,591
525,719,937

1,576,490

222,049,837

3,563,573

1,283,089,837
1,969,123,715
-
1,924,419
262,471,466
(37,757,439)
851,454,850
 A Dic 2014 /
As of Dec 2014

-
1,739,733,672

2,817,826,968

2,817,826,968
4,786,950,683
EMPRESA DE TELECOMUNICACIONES DE BOGOT S.A. E.S.P

Estados Financieros Separados NIIF 2016 - 2015 - 2014 /

Saparate Financial Statements IFRS 2016 - 2015 - 2014

1 ene - 31 jun 2016 /

Estado de resultados / Income Statement 1st Jan - 31st Jun 2016

INGRESOS TOTALES / TOTAL REVENUE 732,098,322

Ingresos Operacionales / Operating Revenue 702,587,720
Ingresos No Operacionales / Non-operating Revenue 29,510,757
COSTOS Y GASTOS TOTALES / TOTAL COSTS AND EXPENSES 554,095,502
Regulatorios / Regulatory 27,739,989
Comercial / Commercial 81,951,388
Servicio al Cliente / Customer Service 45,682,080
Produccin / Production 220,807,161
Administrativos / Administrative 55,307,148
Personal / Personnel 120,280,774
Gastos No Operacionales / Non-operating Expenses 2,326,962
EBITDA / EBITDA 178,002,821
Margen EBITDA / EBITDA Margin 24.31%
NO GESTIONABLES / NON-MANAGEABLE 275,639,505
Amortizacin / Amortization 50,335,342
Provisiones / Provisions 41,056,540
Depreciaciones / Depreciation 184,247,623
UTILIDAD OPERACIONES RECURRENTES / RECURRING OPERATING INCOME (97,636,685)

NETO FINANCIERO Y OTROS (Ingreso + Gasto) / NET FINANCIAL AND OTHER (Profit + Loss) (8,431,200)
UTILIDAD ANTES DE IMPUESTOS / PROFIT BEFORE TAXES (106,067,884)

Provision Imp. Renta y CREE (Ingreso + Gasto) / CREE and Income Tax Provision (Profit + Loss) 6,956,490
RESULTADO DEL EJERCICIO / RESULTS OF THE PERIOD (113,024,374)

Otro resultado Integral (Ingreso + Gasto) / Other Comprehensive Income (Profit + Loss) 21,824

RESULTADO INTEGRAL EJERCICIO / COMPREHENSIVE INCOME OF THE PERIOD (113,002,550)

EMPRESA DE TELECOMUNICACIONES DE BOGOT S.A. E.S.P

Estados Financieros Separados NIIF 2016 - 2015 - 2014 /

Saparate Financial Statements IFRS 2016 - 2015 - 2014

2T 2016 /
Estado de resultados / Income Statement 2Q 2016

INGRESOS TOTALES / TOTAL REVENUE 361,331,173

Ingresos Operacionales / Operating Revenue 345,359,709
Ingresos No Operacionales / Non-operating Revenue 15,971,687
COSTOS Y GASTOS TOTALES / TOTAL COSTS AND EXPENSES 268,741,936
Regulatorios / Regulatory 14,080,251
Comercial / Commercial 33,420,796
Servicio al Cliente / Customer Service 21,973,521
Produccin / Production 112,288,675
Administrativos / Administrative 26,385,998
Personal / Personnel 60,717,772
Gastos No Operacionales / Non-operating Expenses (125,076)
EBITDA / EBITDA 92,589,237
Margen EBITDA / EBITDA Margin 25.62%
NO GESTIONABLES / NON-MANAGEABLE 135,555,197
Amortizacin / Amortization 26,203,327
Provisiones / Provisions 15,674,890
Depreciaciones / Depreciation 93,676,980
UTILIDAD OPERACIONES RECURRENTES / RECURRING OPERATING INCOME (42,965,959)

NETO FINANCIERO Y OTROS (Ingreso + Gasto) / NET FINANCIAL AND OTHER (Profit + Loss) (6,672,287)
UTILIDAD ANTES DE IMPUESTOS / PROFIT BEFORE TAXES (49,638,246)

Provision Imp. Renta y CREE (Ingreso + Gasto) / CREE and Income Tax Provision (Profit + Loss) 3,478,245
RESULTADO DEL EJERCICIO / RESULTS OF THE PERIOD (53,116,491)

Otro resultado Integral (Ingreso + Gasto) / Other Comprehensive Income (Profit + Loss) 317,085

RESULTADO INTEGRAL EJERCICIO / COMPREHENSIVE INCOME OF THE PERIOD (52,799,406)

EMPRESA DE TELECOMUNICACIONES DE BOGOT S.A. E.S.P

Estados Financieros Separados NIIF 2016 - 2015 - 2014 /

Saparate Financial Statements IFRS 2016 - 2015 - 2014

1T 2016 /
Estado de resultados / Income Statement 1Q 2016

INGRESOS TOTALES / TOTAL REVENUE 370,767,149

Ingresos Operacionales / Operating Revenue 357,228,011
Ingresos No Operacionales / Non-operating Revenue 13,539,070
COSTOS Y GASTOS TOTALES / TOTAL COSTS AND EXPENSES 285,353,566
Regulatorios / Regulatory 13,659,739
Comercial / Commercial 48,530,592
Servicio al Cliente / Customer Service 23,708,560
Produccin / Production 108,518,486
Administrativos / Administrative 28,921,149
Personal / Personnel 59,563,002
Gastos No Operacionales / Non-operating Expenses 2,452,037
EBITDA / EBITDA 85,413,583
Margen EBITDA / EBITDA Margin 23.04%
NO GESTIONABLES / NON-MANAGEABLE 140,084,308
Amortizacin / Amortization 24,132,015
Provisiones / Provisions 25,381,650
Depreciaciones / Depreciation 90,570,644
UTILIDAD OPERACIONES RECURRENTES / RECURRING OPERATING INCOME (54,670,725)

NETO FINANCIERO Y OTROS (Ingreso + Gasto) / NET FINANCIAL AND OTHER (Profit + Loss) (1,758,913)
UTILIDAD ANTES DE IMPUESTOS / PROFIT BEFORE TAXES (56,429,638)

Provision Imp. Renta y CREE (Ingreso + Gasto) / CREE and Income Tax Provision (Profit + Loss) 3,478,245
RESULTADO DEL EJERCICIO / RESULTS OF THE PERIOD (59,907,883)

Otro resultado Integral (Ingreso + Gasto) / Other Comprehensive Income (Profit + Loss) (295,261)

RESULTADO INTEGRAL EJERCICIO / COMPREHENSIVE INCOME OF THE PERIOD (60,203,144)

EMPRESA DE TELECOMUNICACIONES DE BOGOT S.A. E.S.P

Estados Financieros Separados NIIF 2016 - 2015 - 2014 /

Saparate Financial Statements IFRS 2016 - 2015 - 2014

1 ene - 31 dic 2015/ 4T 2015/

Estado de resultados / Income Statement 1st Jan - 31 Dic 2015 4Q 2015

INGRESOS TOTALES / TOTAL REVENUE 1,460,006,163 400,757,429

Ingresos Operacionales / Operating Revenue 1,388,219,317 376,323,758
Ingresos No Operacionales / Non-operating Revenue 71,787,163 24,434,429
COSTOS Y GASTOS TOTALES / TOTAL COSTS AND EXPENSES 1,057,481,092 282,177,118
Regulatorios / Regulatory 55,880,245 14,546,042
Comercial / Commercial 194,200,148 60,745,217
Servicio al Cliente / Customer Service 85,810,612 21,431,309
Produccin / Production 365,507,664 105,190,385
Administrativos / Administrative 132,863,338 35,152,988
Personal / Personnel 209,130,840 39,172,505
Gastos No Operacionales / Non-operating Expenses 14,088,246 5,938,672
EBITDA / EBITDA 402,525,071 118,580,312
Margen EBITDA / EBITDA Margin 27.57% 29.59%
NO GESTIONABLES / NON-MANAGEABLE 654,964,496 291,860,262
Amortizacin / Amortization 83,939,292 34,848,117
Provisiones / Provisions 230,950,043 176,396,773
Depreciaciones / Depreciation 340,075,160 80,615,373
UTILIDAD OPERACIONES RECURRENTES / RECURRING OPERATING INCOME (252,439,425) (173,279,951)

NETO FINANCIERO Y OTROS (Ingreso + Gasto) / NET FINANCIAL AND OTHER (Profit + Loss) (24,830,477) (150,648,543)
UTILIDAD ANTES DE IMPUESTOS / PROFIT BEFORE TAXES (277,269,902) (323,928,494)

Provision Imp. Renta y CREE (Ingreso + Gasto) / CREE and Income Tax Provision (Profit + Loss) (208,610,947) (143,982,985)
RESULTADO DEL EJERCICIO / RESULTS OF THE PERIOD (68,658,955) (179,945,509)

Otro resultado Integral (Ingreso + Gasto) / Other Comprehensive Income (Profit + Loss) 32,120,623 32,120,623

RESULTADO INTEGRAL EJERCICIO / COMPREHENSIVE INCOME OF THE PERIOD (36,538,332) (147,824,886)

EMPRESA DE TELECOMUNICACIONES DE BOGOT S.A. E.S.P

Estados Financieros Separados NIIF 2016 - 2015 - 2014 /

Saparate Financial Statements IFRS 2016 - 2015 - 2014

1 ene - 31 sep 2015/ 3T 2015/

Estado de resultados / Income Statement 1st Jan - 31 Sep 2015 3Q 2015

INGRESOS TOTALES / TOTAL REVENUE 1,059,248,734 345,722,427

Ingresos Operacionales / Operating Revenue 1,011,895,558 332,086,926
Ingresos No Operacionales / Non-operating Revenue 47,352,734 13,635,427
COSTOS Y GASTOS TOTALES / TOTAL COSTS AND EXPENSES 775,303,975 273,924,394
Regulatorios / Regulatory 41,334,203 13,739,086
Comercial / Commercial 133,454,932 39,045,369
Servicio al Cliente / Customer Service 64,379,303 21,769,272
Produccin / Production 260,317,279 99,235,659
Administrativos / Administrative 97,710,351 35,763,013
Personal / Personnel 169,958,334 61,076,768
Gastos No Operacionales / Non-operating Expenses 8,149,574 3,295,226
EBITDA / EBITDA 283,944,759 71,798,033
Margen EBITDA / EBITDA Margin 26.81% 20.77%
NO GESTIONABLES / NON-MANAGEABLE 363,104,233 147,470,246
Amortizacin / Amortization 49,091,175 22,225,557
Provisiones / Provisions 54,553,270 24,952,060
Depreciaciones / Depreciation 259,459,788 100,292,629
UTILIDAD OPERACIONES RECURRENTES / RECURRING OPERATING INCOME (79,159,474) (75,672,213)

NETO FINANCIERO Y OTROS (Ingreso + Gasto) / NET FINANCIAL AND OTHER (Profit + Loss) 125,818,067 121,330,946
UTILIDAD ANTES DE IMPUESTOS / PROFIT BEFORE TAXES 46,658,592 45,658,734

Provision Imp. Renta y CREE (Ingreso + Gasto) / CREE and Income Tax Provision (Profit + Loss) (64,627,961) 2,303,315
RESULTADO DEL EJERCICIO / RESULTS OF THE PERIOD 111,286,554 43,355,419

Otro resultado Integral (Ingreso + Gasto) / Other Comprehensive Income (Profit + Loss) 0 0

RESULTADO INTEGRAL EJERCICIO / COMPREHENSIVE INCOME OF THE PERIOD 111,286,554 43,355,419

EMPRESA DE TELECOMUNICACIONES DE BOGOT S.A. E.S.P

Estados Financieros Separados NIIF 2016 - 2015 - 2014 /

Saparate Financial Statements IFRS 2016 - 2015 - 2014

1 ene - 31 jun 2015 / 2T 2015 /

Estado de resultados / Income Statement 1st Jan - 31st Jun 2015 2Q 2015

INGRESOS TOTALES / TOTAL REVENUE 713,526,307 362,390,068

Ingresos Operacionales / Operating Revenue 679,808,632 342,452,784
Ingresos No Operacionales / Non-operating Revenue 33,717,307 19,937,068
COSTOS Y GASTOS TOTALES / TOTAL COSTS AND EXPENSES 501,379,581 280,299,708
Regulatorios / Regulatory 27,595,116 12,522,069
Comercial / Commercial 94,409,563 56,424,739
Servicio al Cliente / Customer Service 42,610,030 26,542,641
Produccin / Production 161,081,620 93,467,192
Administrativos / Administrative 61,947,337 32,912,901
Personal / Personnel 108,881,566 54,978,164
Gastos No Operacionales / Non-operating Expenses 4,854,348 3,452,003
EBITDA / EBITDA 212,146,726 82,090,360
Margen EBITDA / EBITDA Margin 29.73% 22.65%
NO GESTIONABLES / NON-MANAGEABLE 215,633,988 108,526,844
Amortizacin / Amortization 26,865,618 16,287,651
Provisiones / Provisions 29,601,210 11,060,400
Depreciaciones / Depreciation 159,167,159 81,178,792
UTILIDAD OPERACIONES RECURRENTES / RECURRING OPERATING INCOME (3,487,262) (26,436,484)

NETO FINANCIERO Y OTROS (Ingreso + Gasto) / NET FINANCIAL AND OTHER (Profit + Loss) 4,487,120 1,704,590
UTILIDAD ANTES DE IMPUESTOS / PROFIT BEFORE TAXES 999,859 (24,731,894)

Provision Imp. Renta y CREE (Ingreso + Gasto) / CREE and Income Tax Provision (Profit + Loss) (66,931,276) (44,335,645)
RESULTADO DEL EJERCICIO / RESULTS OF THE PERIOD 67,931,135 19,603,751

Otro resultado Integral (Ingreso + Gasto) / Other Comprehensive Income (Profit + Loss) 0 0

RESULTADO INTEGRAL EJERCICIO / COMPREHENSIVE INCOME OF THE PERIOD 67,931,135 19,603,751

EMPRESA DE TELECOMUNICACIONES DE BOGOT S.A. E.S.P

Estados Financieros Separados NIIF 2016 - 2015 - 2014 /

Saparate Financial Statements IFRS 2016 - 2015 - 2014

1T 2015 /
Estado de resultados / Income Statement 1Q 2015

INGRESOS TOTALES / TOTAL REVENUE 351,136,238

Ingresos Operacionales / Operating Revenue 337,355,848
Ingresos No Operacionales / Non-operating Revenue 13,780,238
COSTOS Y GASTOS TOTALES / TOTAL COSTS AND EXPENSES 221,079,872
Regulatorios / Regulatory 15,073,047
Comercial / Commercial 37,984,824
Servicio al Cliente / Customer Service 16,067,389
Produccin / Production 67,614,428
Administrativos / Administrative 29,034,437
Personal / Personnel 53,903,402
Gastos No Operacionales / Non-operating Expenses 1,402,345
EBITDA / EBITDA 130,056,366
Margen EBITDA / EBITDA Margin 37.04%
NO GESTIONABLES / NON-MANAGEABLE 107,107,144
Amortizacin / Amortization 10,577,967
Provisiones / Provisions 18,540,810
Depreciaciones / Depreciation 77,988,367
UTILIDAD OPERACIONES RECURRENTES / RECURRING OPERATING INCOME 22,949,222

NETO FINANCIERO Y OTROS (Ingreso + Gasto) / NET FINANCIAL AND OTHER (Profit + Loss) 2,782,531
UTILIDAD ANTES DE IMPUESTOS / PROFIT BEFORE TAXES 25,731,753

Provision Imp. Renta y CREE (Ingreso + Gasto) / CREE and Income Tax Provision (Profit + Loss) (22,595,631)
RESULTADO DEL EJERCICIO / RESULTS OF THE PERIOD 48,327,383

Otro resultado Integral (Ingreso + Gasto) / Other Comprehensive Income (Profit + Loss) 0

RESULTADO INTEGRAL EJERCICIO / COMPREHENSIVE INCOME OF THE PERIOD 48,327,383

EMPRESA DE TELECOMUNICACIONES DE BOGOT S.A. E.S.P

Estados Financieros Separados NIIF 2016 - 2015 - 2014 /

Saparate Financial Statements IFRS 2016 - 2015 - 2014

1 ene - 31 dic 2014/ 4T 2014/

Estado de resultados / Income Statement 1st Jan - 31 Dic 2014 4Q 2014

INGRESOS TOTALES / TOTAL REVENUE 1,416,447,190 388,850,553

Ingresos Operacionales / Operating Revenue 1,364,317,761 376,640,489
Ingresos No Operacionales / Non-operating Revenue 52,129,429 12,210,064
COSTOS Y GASTOS TOTALES / TOTAL COSTS AND EXPENSES 861,808,145 200,349,916
Regulatorios / Regulatory 53,620,117 14,612,507
Comercial / Commercial 126,532,181 50,584,846
Servicio al Cliente / Customer Service 74,960,575 18,723,599
Produccin / Production 275,225,724 42,094,916
Administrativos / Administrative 104,947,607 25,531,719
Personal / Personnel 186,665,306 24,641,011
Gastos No Operacionales / Non-operating Expenses 39,856,635 24,161,319
EBITDA / EBITDA 554,639,045 188,500,637
Margen EBITDA / EBITDA Margin 39.16% 48.48%
NO GESTIONABLES / NON-MANAGEABLE 525,210,273 207,401,016
Amortizacin / Amortization 56,982,727 15,674,790
Provisiones / Provisions 146,264,114 111,242,685
Depreciaciones / Depreciation 321,963,432 80,483,542
UTILIDAD OPERACIONES RECURRENTES / RECURRING OPERATING INCOME 29,428,772 (18,900,379)

NETO FINANCIERO Y OTROS (Ingreso + Gasto) / NET FINANCIAL AND OTHER (Profit + Loss) (96,510,481) (46,500,836)
UTILIDAD ANTES DE IMPUESTOS / PROFIT BEFORE TAXES (67,081,709) (65,401,215)

Provision Imp. Renta y CREE (Ingreso + Gasto) / CREE and Income Tax Provision (Profit + Loss) (30,590,159) 91,597,091
RESULTADO DEL EJERCICIO / RESULTS OF THE PERIOD (36,491,550) (156,998,306)

Otro resultado Integral (Ingreso + Gasto) / Other Comprehensive Income (Profit + Loss) (1,265,890) (1,265,890)

RESULTADO INTEGRAL EJERCICIO / COMPREHENSIVE INCOME OF THE PERIOD (37,757,439) (158,264,196)

EMPRESA DE TELECOMUNICACIONES DE BOGOT S.A. E.S.P

Estados Financieros Separados NIIF 2016 - 2015 - 2014 /

Saparate Financial Statements IFRS 2016 - 2015 - 2014

1 ene - 31 sep 2014/ 3T 2014/

Estado de resultados / Income Statement 1st Jan - 31 Sep 2014 3Q 2014

INGRESOS TOTALES / TOTAL REVENUE 1,027,596,637 331,776,733

Ingresos Operacionales / Operating Revenue 987,677,273 320,756,873
Ingresos No Operacionales / Non-operating Revenue 39,919,365 11,019,860
COSTOS Y GASTOS TOTALES / TOTAL COSTS AND EXPENSES 661,458,229 226,106,439
Regulatorios / Regulatory 39,007,610 13,207,812
Comercial / Commercial 75,947,335 23,918,492
Servicio al Cliente / Customer Service 56,236,976 19,995,180
Produccin / Production 233,130,808 79,773,077
Administrativos / Administrative 79,415,888 25,151,314
Personal / Personnel 162,024,295 62,974,972
Gastos No Operacionales / Non-operating Expenses 15,695,316 1,085,591
EBITDA / EBITDA 366,138,408 105,670,294
Margen EBITDA / EBITDA Margin 35.63% 31.85%
NO GESTIONABLES / NON-MANAGEABLE 317,809,257 107,917,179
Amortizacin / Amortization 41,307,937 14,035,347
Provisiones / Provisions 35,021,430 13,384,941
Depreciaciones / Depreciation 241,479,890 80,496,890
UTILIDAD OPERACIONES RECURRENTES / RECURRING OPERATING INCOME 48,329,151 (2,246,885)

NETO FINANCIERO Y OTROS (Ingreso + Gasto) / NET FINANCIAL AND OTHER (Profit + Loss) (50,009,645) (48,485,873)
UTILIDAD ANTES DE IMPUESTOS / PROFIT BEFORE TAXES (1,680,493) (50,732,758)

Provision Imp. Renta y CREE (Ingreso + Gasto) / CREE and Income Tax Provision (Profit + Loss) (122,187,250) (127,057,056)
RESULTADO DEL EJERCICIO / RESULTS OF THE PERIOD 120,506,757 76,324,299

Otro resultado Integral (Ingreso + Gasto) / Other Comprehensive Income (Profit + Loss) 0 0

RESULTADO INTEGRAL EJERCICIO / COMPREHENSIVE INCOME OF THE PERIOD 120,506,757 76,324,299

EMPRESA DE TELECOMUNICACIONES DE BOGOT S.A. E.S.P

Estados Financieros Separados NIIF 2016 - 2015 - 2014 /

Saparate Financial Statements IFRS 2016 - 2015 - 2014

1 ene - 31 jun 2014 /

2T 2014 /
Estado de resultados / Income Statement 1st Jan - 31st Jun
2Q 2014
2014

INGRESOS TOTALES / TOTAL REVENUE 695,819,905 345,502,490

Ingresos Operacionales / Operating Revenue 666,920,400 331,289,159
Ingresos No Operacionales / Non-operating Revenue 28,899,505 14,213,330
COSTOS Y GASTOS TOTALES / TOTAL COSTS AND EXPENSES 435,351,790 207,616,543
Regulatorios / Regulatory 25,799,798 12,770,390
Comercial / Commercial 52,028,843 30,773,756
Servicio al Cliente / Customer Service 36,241,796 17,766,294
Produccin / Production 153,357,731 79,454,493
Administrativos / Administrative 54,264,574 28,631,020
Personal / Personnel 99,049,323 43,602,452
Gastos No Operacionales / Non-operating Expenses 14,609,725 (5,381,862)
EBITDA / EBITDA 260,468,115 137,885,947
Margen EBITDA / EBITDA Margin 37.43% 39.91%
NO GESTIONABLES / NON-MANAGEABLE 209,892,078 103,700,483
Amortizacin / Amortization 27,272,590 15,032,054
Provisiones / Provisions 21,636,488 8,209,208
Depreciaciones / Depreciation 160,983,000 80,459,222
UTILIDAD OPERACIONES RECURRENTES / RECURRING OPERATING INCOME 50,576,036 34,185,463

NETO FINANCIERO Y OTROS (Ingreso + Gasto) / NET FINANCIAL AND OTHER (Profit + Loss) (1,523,772) (5,043,543)
UTILIDAD ANTES DE IMPUESTOS / PROFIT BEFORE TAXES 49,052,264 29,141,920

Provision Imp. Renta y CREE (Ingreso + Gasto) / CREE and Income Tax Provision (Profit + Loss) 4,869,806 2,660,942
RESULTADO DEL EJERCICIO / RESULTS OF THE PERIOD 44,182,458 26,480,978

Otro resultado Integral (Ingreso + Gasto) / Other Comprehensive Income (Profit + Loss) 0 0

RESULTADO INTEGRAL EJERCICIO / COMPREHENSIVE INCOME OF THE PERIOD 44,182,458 26,480,978

EMPRESA DE TELECOMUNICACIONES DE BOGOT S.A. E.S.P

Estados Financieros Separados NIIF 2016 - 2015 - 2014 /

Saparate Financial Statements IFRS 2016 - 2015 - 2014

1T 2014 /
Estado de resultados / Income Statement 1Q 2014

INGRESOS TOTALES / TOTAL REVENUE 350,317,415

Ingresos Operacionales / Operating Revenue 335,631,240
Ingresos No Operacionales / Non-operating Revenue 14,686,175
COSTOS Y GASTOS TOTALES / TOTAL COSTS AND EXPENSES 227,735,247
Regulatorios / Regulatory 13,029,407
Comercial / Commercial 21,255,087
Servicio al Cliente / Customer Service 18,475,502
Produccin / Production 73,903,237
Administrativos / Administrative 25,633,554
Personal / Personnel 55,446,871
Gastos No Operacionales / Non-operating Expenses 19,991,587
EBITDA / EBITDA 122,582,168
Margen EBITDA / EBITDA Margin 34.99%
NO GESTIONABLES / NON-MANAGEABLE 106,191,595
Amortizacin / Amortization 12,240,537
Provisiones / Provisions 13,427,280
Depreciaciones / Depreciation 80,523,778
UTILIDAD OPERACIONES RECURRENTES / RECURRING OPERATING INCOME 16,390,573

NETO FINANCIERO Y OTROS (Ingreso + Gasto) / NET FINANCIAL AND OTHER (Profit + Loss) 3,519,771
UTILIDAD ANTES DE IMPUESTOS / PROFIT BEFORE TAXES 19,910,344

Provision Imp. Renta y CREE (Ingreso + Gasto) / CREE and Income Tax Provision (Profit + Loss) 2,208,865
RESULTADO DEL EJERCICIO / RESULTS OF THE PERIOD 17,701,480

Otro resultado Integral (Ingreso + Gasto) / Other Comprehensive Income (Profit + Loss) 0

RESULTADO INTEGRAL EJERCICIO / COMPREHENSIVE INCOME OF THE PERIOD 17,701,480

EMPRESA DE TELECOMUNICACIONES DE BOGOT S.A. E.S.P

Estados Financieros Separados NIIF 2016 - 2015 - 2014 /

Saparate Financial Statements IFRS 2016 - 2015 - 2014

Flujos de efectivo procedentes de (utilizados en) actividades de operacin / Cash flows from
(used in) operating activities 1 ene - 31 jun 2016 / 2T 2016 / 1T 2016 / 1 ene - 31 dic 2015/ 4T 2015/ 1 ene - 31 sep 2015/ 3T 2015/ 1 ene - 31 jun 2015 / 2T 2015 / 1T 2015 / 1 ene - 31 dic 2014/
1st Jan - 31st Jun 2016 2Q 2016 1Q 2016 1st Jan - 31 Dic 2015 4Q 2015 1st Jan - 31 Sep 2015 3Q 2015 1st Jan - 31st Jun 2015 2Q 2015 1Q 2015 1st Jan - 31 Dic 2014

(Miles - Pesos / Thousand - Pesos )

Ganancia (prdida) /Gain (loos) (113,024,374) (53,116,491) (59,907,883) (68,658,731) (179,944,843) 111,286,112 43,355,346 67,930,766 19,603,535 48,327,231 (36,491,549)
Ajustes para conciliar la ganancia (prdida) / Adjustments to reconcile net income (loss)
- ### - - ### - ### - ### - -
Ajustes por gasto por impuestos a las ganancias / Adjustments for income tax expense
- ### - - 53,499,981 (53,499,981) (1,174,930) (52,325,051) (38,712,382) (13,612,669) -
Ajustes por disminuciones (incrementos) en los inventarios / Adjustments for decreases (increases) in
4,396,532 4,375,583 20,949 (5,596,550) (2,594,852) (3,001,698) 13,832,471 (16,834,169) 27,097,403 (43,931,572) (865,719)
inventories
Ajustes por la disminucin (incremento) de cuentas por cobrar de origen comercial / Adjustments for decrease
(increase) in accounts receivable from commercial sources (46,691,550) (25,754,973) (20,936,577) (97,925,276) 130,995,121 (228,920,397) (149,518,970) (79,401,427) (37,031,658) (42,369,769) (100,015,273)

Ajustes por el incremento (disminucin) de cuentas por pagar de origen comercial / Ajustes por el incremento
(disminucin) de cuentas por pagar de origen comercial (250,957,349) (73,777,274) (177,180,075) 549,543,251 452,007,977 97,535,274 104,803,684 (7,268,410) 114,111,911 (121,380,321) 36,261,126

Ajustes por gastos de depreciacin y amortizacin / Adjustments for Depreciation and amortization expenses
235,900,382 120,490,872 115,409,510 432,589,478 119,011,728 313,577,750 123,656,241 189,921,509 99,936,588 89,984,921 407,228,969
Ajustes por provisiones / Adjustments for provisions 40,420,785 15,407,473 25,013,312 228,412,009 165,676,902 62,735,107 29,804,031 32,931,076 14,736,810 18,194,266 147,806,249
Otros ajustes por partidas distintas al efectivo / Other adjustments for different items to cash
33,844,406 38,091,169 (4,246,763) 5,968,932 73,721,827 (67,752,895) 3,252,885 (71,005,780) (28,660,314) (42,345,466) 213,119,640
Total ajustes para conciliar la ganancia (prdida)/ Total adjustments to reconcile net income (loss)
16,913,206 78,832,850 (61,919,644) 1,112,991,844 992,318,684 120,673,160 124,655,412 (3,982,252) 151,478,358 (155,460,610) 703,534,992
Flujos de efectivo netos procedentes (utilizados en) operaciones / Net cash flows from (used in)
(96,111,168) 25,716,359 (121,827,527) 1,044,333,113 812,373,841 231,959,272 168,010,758 63,948,514 171,081,893 (107,133,379) 667,043,443
operations
Flujos de efectivo netos procedentes de (utilizados en) actividades de operacin / Net cash flows from
(96,111,168) 25,716,359 (121,827,527) 1,044,333,113 812,373,841 231,959,272 168,010,758 63,948,514 171,081,893 (107,133,379) 667,043,443
(used in) operating activities
Flujos de efectivo procedentes de (utilizados en) actividades de inversin / Cash flows from (used in)
investment activities - ### - - ### - ### - ### - -

Flujos de efectivo procedentes de la prdida de control de subsidiarias u otros negocios / Cash flows from losing control
7,401,959 ### - 5,807,217 ### - ### - ### - 3,930,402
of subsidiaries or other businesses
Flujos de efectivo utilizados para obtener el control de subsidiarias u otros negocios / Cash flows used to obtain
- ### - - (5,789,049) 5,789,049 (13,370) 5,802,419 5,806,991 (4,572) (7,714,017)
control of subsidiaries or other businesses
Compras de propiedades, planta y equipo / Purchases of property, plant and equipment
(161,895,198) (76,736,064) (85,159,134) (721,256,365) (253,534,339) (467,722,026) (244,420,240) (223,301,786) (187,112,662) (36,189,124) (510,500,565)
Compras de activos intangibles / Purchases of intangible assets (72,789,764) (35,608,478) (37,181,286) (132,563,387) (50,562,756) (82,000,631) (38,731,915) (43,268,716) (28,885,441) (14,383,275) (171,440,309)
Otras entradas (salidas) de efectivo / Other inflows (outflows) of cash (2,611,952) (1,953,401) (658,551) (1,150,158) (48,680) (1,101,478) (213,811) (887,667) (86,595) (801,072) (17,542,617)
Flujos de efectivo netos procedentes de (utilizados en) actividades de inversin / Net cash flows from
(229,894,955) (106,895,984) (122,998,971) (849,162,693) (304,127,607) (545,035,086) (283,379,336) (261,655,750) (210,277,707) (51,378,043) (703,267,106)
(used in) investment activities
Dividendos pagados / Dividends paid - ### - - 62,482,945 (62,482,945) 6,806,948 (69,289,893) (15,856,318) (53,433,575) -
Impuestos a las ganancias reembolsados (pagados) / Income Tax Refund (paid) (26,506,706) ### -
Otras entradas (salidas) de efectivo / Other cash inflows (outflows) 40,000,000 ### - (471,722,275) (471,664,235) (58,040) - (58,040) - (58,040) (62,154,058)
Flujos de efectivo netos procedentes de (utilizados en) actividades de financiacin / Net cash flows from
13,493,294 ### - (471,722,275) (409,181,290) (62,540,985) 6,806,948 (69,347,933) (15,856,318) (53,491,615) (62,154,058)
(used in) financing activities
Incremento (disminucin) neto de efectivo y equivalentes al efectivo, antes del efecto de los cambios en la
tasa de cambio / Net increase (decrease) of cash and cash equivalents before exchange rate effects (312,512,829) (67,686,331) (244,826,498) (276,551,855) 99,064,944 (375,616,799) (108,561,630) (267,055,169) (55,052,132) (212,003,037) (98,377,721)

Efectos de la variacin en la tasa de cambio sobre el efectivo y equivalentes al efectivo / Effects of the
variation on the exchange rate on cash and cash equivalents - ### - - ### - ### - ### - -

Incremento (disminucin) neto de efectivo y equivalentes al efectivo / Net increase (decrease) in cash and
(312,512,829) (67,686,331) (244,826,498) (276,551,855) 99,064,944 (375,616,799) (108,561,630) (267,055,169) (55,052,132) (212,003,037) (98,377,721)
cash equivalents
Efectivo y equivalentes al efectivo al principio del periodo / Cash and cash equivalents at the beginning of the
585,356,867 340,530,369 585,356,867 861,908,722 486,291,923 1,122,768,930 855,713,761 1,122,768,930 910,765,893 1,122,768,930 960,286,443
period
Efectivo y equivalentes al efectivo al final del periodo /
272,844,038 272,844,038 340,530,369 585,356,867 ### 747,152,131 ### 855,713,761 ### 910,765,893 861,908,722
Cash and cash equivalents at the end of the period