Exhibit 99.2

Annex I

AEI
Consolidated Balance Sheets
As of December 31, 2009 and 2008

(millions of dollars (U.S.))


	2009		2008
ASSETS
Current assets:
Cash and cash equivalents	$	682	$	736
Restricted cash		77		83
Accounts and notes receivable:
Trade (net of allowance)		932		863
Unconsolidated affiliates		16		11
Inventories		273		239
Prepaids and other current assets		401		384

Total current assets		2,381		2,316
Property, plant and equipment, net		4,200		3,524
Investments in and notes receivable from unconsoldiated affiliates		1,177		907
Goodwill		663		614
Intangibles, net		489		393
Other assets		1,315		1,199

Total assets	$	10,225	$	8,953


LIABILITIES AND EQUITY
Current liabilities:
Accounts payable
Trade	$	608	$	572
Unconsolidated affiliates		31		30
Current portion of long-term debt, including related party		613		547
Accrued and other liabilities		862		594

Total current liabilities		2,114		1,743
Long-term debt, including related party		3,105		3,415
Deferred income taxes		168		199
Other liabilities		1,393		1,331
Commitments and contingencies
Total equity attributable to AEI shareholders		2,832		1,830
Equity attributable to noncontrolling interests		613		435

Total equity		3,445		2,265

Total liabilities and equity	$	10,225	$	8,953

Annex II

AEI
Consolidated Statements of Operations and Adjusted Net Income
For the three months ended December 31, 2009 and 2008 and for the years ended December 31, 2009, 2008 and 2007
(millions of dollars (U.S.), except share and per share data)


	For the three months ended
	December 31,						For the years ended December 31,
	2009			2008			2009			2008			2007

Revenues	$	2,387		$	2,059		$	8,185		$	9,211		$	3,216

Cost of sales		1,829			1,668			6,238			7,347			1,796


Gross margin		558			391			1,947			1,864			1,420

Operating expenses:
Operations, maintenance, and general and administrative expenses		258			213			863			894			630
Depreciation and amortization		72			65			272			268			217
Taxes other than income		14			9			45			43			43
Other charges		123			12			123			56			50
(Gain) loss on disposition of assets		1			(53	)		20			(93	)		(21	)

Total operating expenses		468			246			1,323			1,168			919


Equity income from unconsolidated affiliates		28			15			107			117			76


Operating income		118			160			731			813			577


Other income (expense):
Interest income		16			20			74			88			110
Interest expense		(83	)		(86	)		(327	)		(378	)		(306	)
Foreign currency transaction gain (loss), net		4			(32	)		9			(56	)		19
Gain (loss) on early retirement of debt		—			—			10			—			(33	)
Other income (expense), net		13			—			70			9			(22	)

Total other expense		(50	)		(98	)		(164	)		(337	)		(232	)


Income before income taxes		68			62			567			476			345
Provision for income taxes		92			25			279			194			193

Income (loss) from continuing operations		(24	)		37			288			282			152
Income from discontinued operations		—			—			—			—			3
Gain from disposal of discontinued operations		—			—			—			—			41

Net income (loss)		(24	)		37			288			282			196
Less: Net income (loss) attributable to noncontrolling interests		(79	)		4			(9	)		124			65

Net income attributable to AEI	$	55		$	33		$	297		$	158		$	131


Weighted average number of shares outstanding (thousands of shares)		243,264			222,887			234,107			217,856			209,191

Income from continuing operations attributable to AEI	$	0.23		$	0.15		$	1.27		$	0.73		$	0.42
Discontinued operations attributable to AEI		—			—			—			—			0.21

Net income attributable to AEI	$	0.23		$	0.15		$	1.27		$	0.73		$	0.63


Net income attributable to AEI excluding discontinued operations	$	55		$	33		$	297		$	158		$	87
Excluding (a):
PIS and COFINS arbitration settlement at EPE		—			—			14			—			—
EPE Lease receivable allowance		—			—			—			30			25
SES available-for-sale securities impairment		2			12			2			12			—
DCL impairment charges		17			—			17			—			—
Reversal of accrual at Elektro		—			—			(32	)		—			—
(Gain) loss on early retirement of debt		—			—			(10	)		—			33
Foreign currency transaction (gain) loss, net		(2	)		13			—			19			(5	)
Louyang noncontrolling interest		—			13			—			13			—
(Gain) loss on disposition of assets:														—
Transredes nationalization		—			(57	)		—			(57	)		—
Metrogas available-for-sale securities		—			—			—			14
Sale of BLM		—			—			—			—			(21	)
SIE / Gazel transaction		—			—			—			(12	)


Adjusted net income attributable to AEI	$	72		$	14		$	288		$	177		$	119


Adjusted earnings per share	$	0.30		$	0.06		$	1.23		$	0.81		$	0.57
Adjusted diluted earnings per share	$	0.30		$	0.06		$	1.23		$	0.81		$	0.57


(a)		Amounts shown are net of tax and noncontrolling interests.

Annex III

AEI
Consolidated Statements of Cash Flows
For the years ended December 31, 2009, 2008 and 2007
(millions of dollars (U.S.))


	For the years ended December 31,
	2009			2008			2007

Cash flows from operating activities:
Net income	$	288		$	282		$	196
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		272			268			217
Other charges		123			56			50
Deferred revenues		58			55			120
Deferred income taxes		69			11			106
Equity earnings from unconsolidated affiliates		(107	)		(117	)		(76	)
Distributions from unconsolidated affiliates		53			67			28
Foreign currency transaction (gain) loss, net		(9	)		56			(19	)
(Gain) loss on disposition of assets		20			(93	)		(21	)
Gain from disposal of discontinued operations		—			—			(41	)
(Gain) loss on early retirement of debt		(10	)		—			33
Changes in operating assets and liabilities, net of translation, acquisitions, dispositions and non-cash items:
Trade receivables, net		(48	)		(85	)		(59	)
Accounts payable, trade		1			24			77
Inventories		68			(15	)		(7	)
Prepaids and other current assets		1			4			(5	)
Regulatory assets and liabilities		32			(32	)		102
Other		10			27			(15	)

Net cash provided by operating activities		821			508			686

Cash flows from investing activities:
Proceeds from sale of investments		60			99			162
Capital expenditures		(441	)		(372	)		(249	)
Cash paid for acquisitions, exclusive of cash and cash equivalents acquired		(171	)		(253	)		(1,111	)
Cash and cash equivalents acquired		18			60			21
Decrease in restricted cash		265			199			283
Increase in restricted cash		(256	)		(121	)		(222	)
Contribution to unconsolidated subsidiaries		(9	)		—			—
Other		(25	)		(26	)		(35	)

Net cash used in investing activities		(559	)		(414	)		(1,151	)

Cash flows from financing activities:
Issuance of debt		1,692			1,367			2,418
Repayment of debt		(1,883	)		(1,226	)		(2,205	)
Payment of debt issuance costs		—			—			(18	)
Proceeds from issuance of common shares		—			200			—
Dividends paid to noncontrolling interests		(71	)		(167	)		(101	)
Purchase of subsidiary shares from noncontrolling interests		(90	)		—			—
Other		(18	)		(1	)		(6	)

Net cash (used in) provided by financing activities		(370	)		173			88

Effect of exchange rate changes on cash		54			(47	)		63

Increase (decrease) in cash and cash equivalents		(54	)		220			(314	)
Cash and cash equivalents, beginning of period		736			516			830

Cash and cash equivalents, end of period	$	682		$	736		$	516


Cash payments for income taxes, net of refunds	$	174		$	173		$	172

Cash payments for interest, net of amounts capitalized	$	278		$	264		$	246

Non-cash exchange of related party debt for common shares	$	196		$	—		$	—

Non-cash payments for acquisitions	$	75		$	24		$	—

Annex IV

AEI
EBITDA and Adjusted EBITDA
For the three months ended December 31, 2009 and 2008 and for the years ended December 31, 2009,
2008 and 2007
(Unaudited)
(millions of dollars (U.S.))


	For the three months ended
	December 31,						For the years ended December 31,
	2009			2008			2009			2008			2007

Net income attributable to AEI	$	55		$	33		$	297		$	158		$	131
Depreciation and amortization		72			65			272			268			217
Net income (loss) attributable to noncontrolling interests		(79	)		4			(9	)		124			65
Provision for income taxes		92			25			279			194			193
Interest expense		83			86			327			378			306

EBITDA		223			213			1,166			1,122			912
Subtract:
Income from discontinued operations		—			—			—			—			3
Gain from disposal of discontinued operations		—			—			—			—			41
Interest income		16			20			74			88			110
Foreign currency transaction gain (loss), net		4			(32	)		9			(56	)		19
Gain (loss) on disposition of assets		(1	)		53			(20	)		93			21
Gain (loss) on early retirement of debt		—			—			10			—			(33	)
Other charges		(123	)		(12	)		(123	)		(56	)		(50	)
Other income (expense), net		13			—			70			9			(22	)

Adjusted EBITDA	$	314		$	184		$	1,146		$	1,044		$	823

Annex V

AEI
EBITDA and Adjusted EBITDA by segment
For the three months ended December 31, 2009 and 2008
(Unaudited)
(millions of dollars (U.S.))


							Natural Gas
	Power			Power			Transportation			Natural Gas
	Distribution			Generation			and Services			Distribution			Retail Fuel			Other			Eliminations			Total
For the three months ended December 31, 2009
Net income (loss) attributable to AEI	$	62		$	6		$	(34	)	$	12		$	2		$	(36	)	$	43		$	55
Depreciation and amortization		39			10			5			7			10			1			—			72
Net income (loss) — noncontrolling interest		4			(10	)		(98	)		12			8			5			—			(79	)
Provision for income taxes		28			22			20			8			22			(8	)		—			92
Interest expense		26			15			11			4			13			51			(37	)		83

EBITDA		159			43			(96	)		43			55			13			6			223
Subtract:
Interest income		10			3			1			1			2			—			(1	)		16
Foreign currency transaction gain (loss), net		—			5			1			—			—			(2	)		—			4
Gain (loss) on disposition of assets		(4	)		—			4			(1	)		—			—			—			(1	)
Other charges		—			(25	)		(96	)		—			—			(2	)		—			(123	)
Other income (expense), net		(4	)		15			(44	)		(1	)		1			1			45			13

Adjusted EBITDA	$	157		$	45		$	38		$	44		$	52		$	16		$	(38	)	$	314


For the three months ended December 31, 2008
Net income (loss) attributable to AEI	$	54		$	(37	)	$	63		$	5		$	(60	)	$	22		$	(14	)	$	33
Depreciation and amortization		29			5			4			4			20			3			—			65
Net income (loss) — noncontrolling interest		3			(18	)		(50	)		4			49			16			—			4
Provision for income taxes		21			37			6			6			(8	)		(37	)		—			25
Interest expense		25			10			10			4			13			77			(53	)		86

EBITDA		132			(3	)		33			23			14			81			(67	)		213
Subtract:		—			—			—			—			—			—			—			—
Interest income		10			2			1			1			5			1			—			20
Foreign currency transaction gain (loss), net		(5	)		(19	)		—			(2	)		(9	)		3			—			(32	)
Gain (loss) on disposition of assets		(4	)		—			—			—			—			57			—			53
Other charges		—			—			—			—			—			(12	)		—			(12	)
Other income (expense), net		(3	)		8			(1	)		—			(9	)		5			—			—

Adjusted EBITDA	$	134		$	6		$	33		$	24		$	27		$	27		$	(67	)	$	184

Annex VI

EBITDA and Adjusted EBITDA by segment
For the years ended December 31, 2009, 2008 and 2007
(Unaudited)
(millions of dollars (U.S.))


							Natural Gas
	Power			Power			Transportation			Natural Gas
	Distribution			Generation			and Services			Distribution			Retail Fuel			Other			Eliminations			Total
For the year ended December 31, 2009
Net income (loss) attributable to AEI	$	276		$	62		$	48		$	43		$	15		$	(143	)	$	(4	)	$	297
Depreciation and amortization		134			42			21			23			46			6			—			272
Net income (loss) attributable to noncontrolling interests		14			(37	)		(78	)		42			48			2			—			(9	)
Provision for income taxes		117			60			31			30			40			1						279
Interest expense		93			57			41			17			52			105			(38	)		327

EBITDA		634			184			63			155			201			(29	)		(42	)		1,166
Subtract:
Interest income		46			15			5			2			6			1			(1	)		74
Foreign currency transaction gain (loss), net		—			5			3			2			9			(10	)		—			9
Gain (loss) on disposition of assets		(22	)		—			4			(2	)		—			—			—			(20	)
Gain on early retirement of debt		—						—			—			—			10			—			10
Other charges		—			(25	)		(96	)		—			—			(2	)		—			(123	)
Other income (expense), net		42			24			2			—			(1	)		3			—			70

Adjusted EBITDA	$	568		$	165		$	145		$	153		$	187		$	(31	)	$	(41	)	$	1,146


For the year ended December 31, 2008
Net income (loss) attributable to AEI	$	209		$	(16	)	$	53		$	26		$	17		$	(98	)	$	(33	)	$	158
Depreciation and amortization		138			24			21			18			61			6			—			268
Net income (loss) attributable to noncontrolling interests		12			(49	)		21			30			93			17			—			124
Provision for income taxes		110			43			25			28			21			(33	)		—			194
Interest expense		134			45			44			19			53			136			(53	)		378

EBITDA		603			47			164			121			245			28			(86	)		1,122
Subtract:
Interest income		54			14			6			2			9			3			—			88
Foreign currency transaction gain (loss), net		(5	)		(25	)		(1	)		(3	)		(28	)		6			—			(56	)
Gain (loss) on disposition of assets		(19	)		—			—			—			69			43			—			93
Other charges		—			(44	)		—			—			—			(12	)		—			(56	)
Other income (expense), net		(11	)		19			10			(1	)		(15	)		6			1			9

Adjusted EBITDA	$	584		$	83		$	149		$	123		$	210		$	(18	)	$	(87	)	$	1,044


For the year ended December 31, 2007
Net income (loss) attributable to AEI	$	227		$	83		$	53		$	22		$	55		$	121		$	(430	)	$	131
Depreciation and amortization		139			42			20			8			3			5			—			217
Net income (loss) — noncontrolling interest		11			10			15			31			13			(15	)		—			65
Provision for income taxes		105			(16	)		29			20			12			43			—			193
Interest expense		90			41			42			14			12			143			(36	)		306

EBITDA		572			160			159			95			95			297			(466	)		912
Subtract:
Discontinued operations Gain/Loss		—			—			—			—			44			—			—			44
Interest income		58			27			7			2			2			14			—			110
Foreign currency transaction gain (loss), net		3			19			(3	)		2			—			1			(3	)		19
Gain (loss) on disposition of assets		(10	)		21			6			3			1			—			—			21
Loss on early retirement of debt		—			—			—			—			—			(33	)					(33	)
Other charges		—			(50	)		—			—			—			—			—			(50	)
Other income (expense), net		(2	)		(5	)		6			(2	)		(2	)		(17	)		—			(22	)

Adjusted EBITDA	$	523		$	148		$	143		$	90		$	50		$	332		$	(463	)	$	823

Annex VII

AEI
Net Debt
As of December 31, 2009, 2008 and 2007
(Unaudited)
(millions of dollars (U.S.))


	2009			2008			2007

Debt	$	3,718		$	3,962		$	3,264
Less: Cash		(682	)		(736	)		(516	)
Restricted cash — current		(77	)		(83	)		(95	)
Restricted cash — non-current		(63	)		(49	)		(128	)

NET DEBT	$	2,896		$	3,094		$	2,525

Annex VIII

AEI
Free Cash Flow
For the years ended December 31, 2009, 2008 and 2007

(Unaudited)
(millions of dollars (U.S.))


	For the years ended December 31,
	2009		2008		2007

Net cash provided by operating activities	$	821	$	508	$	686
Less:
Maintenance capital expenditures		170		129		249

FREE CASH FLOW	$	651	$	379	$	437

Annex IX

AEI
Foreign Currency
Period-end and average exchange rates

(Unaudited)

The following table presents the period-end and average exchange rates of the U.S. dollar into the local currency where we are primarily exposed to fluctuations in the exchange rate.


	December 31,
	2008		2009
Period-end exchange rates:
Brazilian real		2.40		1.74
Colombian peso		2,253		2,043


	Average Exchange Rate for the Years Ended
	December 31,
	2007		2008		2009
Average period exchange rates:
Brazilian real		1.95		1.83		1.99
Colombian peso		2,120		1,990		2,172


	Average Exchange Rate for the Three Months Ended
	December 31,
	2008		2009
Average period exchange rates:
Brazilian real		2.26		1.74
Colombian peso		2,316		1,967

Source: Bloomberg financial website for December 2009 and 2008; OANDA Corporation financial website for 2007.

Annex X

AEI
Proportional Financial Metrics (derived from U.S. GAAP data)
As of and for the year ended December 31, 2009
(Unaudited)
(millions of dollars (U.S.), except for ownership percentages)


					AEI									Add Proportional		Proportional						Proportional
		AEI			Consolidated			Deduct						Adjusted EBITDA –		Share of						Share of Net
		Ownership %			Adjusted			noncontrolling			Deduct equity			Equity/Cost		Adjusted EBITDA			Net Debt as of			Debt
Business	Operating Segment	at 12/31/09			EBITDA 2009			interest share			(income) loss			investments		2009			12/31/09			12/31/09
Delsur	Power Distribution		86.41	%	$	24		$	(3	)	$	—		$	—	$	21		$	52		$	45
EDEN	Power Distribution		90.00	%		24			(2	)		—			—		22			(16	)		(14	)
Elektra	Power Distribution		51.00	%		54			(26	)		—			—		28			113			58
Elektro	Power Distribution		99.68	%		392			(1	)		—			—		391			399			398
EMDERSA	Power Distribution		77.10	%		11			(2	)		—			—		9			57			44
Chilquinta	Power Distribution		50.00	%		15			—			(15	)		57		57			263			132
Luz del Sur	Power Distribution		37.97	%		38			—			(38	)		71		71			225			85
DCL	Power Generation		60.23	%		(3	)		1			—			—		(2	)		78			47
Emgasud	Power Generation		42.73	%		(2	)		—			2			8		8			134			57
ENS	Power Generation		100.00	%		32			—			—			—		32			56			56
PQP	Power Generation		100.00	%		44			—			—			—		44			47			47
San Felipe	Power Generation		100.00	%		50			—			—			—		50			(15	)		(15	)
Trakya	Power Generation		90.00	%		75			(8	)		—			—		67			(34	)		(31	)
Luoyang	Power Generation		50.00	%		6			(3	)		—			—		3			117			59
Accroven	Natural Gas Transportation and Services		49.25	%		18			—			(18	)		36		36			134			66
GTB	Natural Gas Transportation and Services (a)		34.65	%		8			—			(8	)		16		16			248			86
TBG	Natural Gas Transportation and Services (a)		8.27	%		—			—			—			13		13			196			16
Cuiabá	Natural Gas Transportation and Services (a)		100.00	%		(30	)		15			—			—		(15	)		(73	)		(73	)
Promigas Pipeline	Natural Gas Transportation and Services		52.13	%		62			(30	)		—			—		32			288			150
Promigas — Gases de Occidente	Natural Gas Distribution		46.87	%		59			(31	)		—			—		28			55			26
Promigas — Gases del Caribe	Natural Gas Distribution		16.16	%		13			—			(13	)		13		13			153			25
Cálidda	Natural Gas Distribution		80.85	%		20			(4	)		—			—		16			8			6
Promigas — Surtigas	Natural Gas Distribution		51.58	%		38			(19	)		—			—		19			75			39
China	Natural Gas Distribution (b)					22			(5	)		—			—		17			(11	)		(12	)
Proenegia — SIE (Terpel)	Retail Fuel		27.45	%		142			(103	)		—			—		39			394			108
Proenegia — GNC	Retail Fuel		24.40	%		45			(34	)		—			—		11			88			21
Other	Various Segments					49			(18	)		(9	)		9		31			67			(23	)

SUBTOTAL (Excluding Headquarters and Other)					$	1,206		$	(273	)	$	(99	)	$	223	$	1,057					$	1,403

Headquarters and Other	Headquarters		100.00	%		(60	)		—			(8	)		—		(68	)		1,275			1,275


TOTAL					$	1,146		$	(273	)	$	(107	)	$	223	$	989					$	2,678


For the year ended December 31, 2008
Total					$	1,044		$	(287	)	$	(116	)	$	221	$	862


For the year ended December 31, 2007
Total					$	823		$	(131	)	$	(77	)	$	247	$	862


(a)		Ownership percentages changed in December 2009, however, previous percentages were used to calculate proportional EBITDA.

(b)		Included Tongda and BMG at ownership percentages of 100% and 70%, respectively.

Annex XI

AEI
Proportional Financial Metrics (derived from U.S. GAAP data)
As of and for the year ended December 31, 2009
(Unaudited)
(millions of dollars (U.S.), except for ownership percentages)


		AEI Ownership %		AEI Free Cash			Proportional Free
Business	Operating Segment	at 12/31/09		Flow			Cash Flow
Delsur	Power Distribution	86.41	%	$	19		$	16
EDEN	Power Distribution	90.00	%		21			19
Elektra	Power Distribution	51.00	%		31			15
Elektro	Power Distribution	99.68	%		243			242
Chilquinta	Power Distribution	50.00	%		—			26
Luz del Sur	Power Distribution	37.97	%		27			40
Cuiabá	Power Generation (a)	100.00	%		(24	)		(12	)
ENS	Power Generation	100.00	%		42			42
PQP	Power Generation	100.00	%		35			35
San Felipe	Power Generation	100.00	%		35			35
Trakya	Power Generation	90.00	%		88			79
Accroven	Natural Gas Transportation and Services	49.25	%		—			—
GTB	Natural Gas Transportation and Services	34.65	%		—			4
TBG	Natural Gas Transportation and Services	8.27	%		—			—
Cálidda	Natural Gas Transportation and Services	50.00	%		—			—
Promigas Pipeline	Natural Gas Transportation and Services	52.13	%		76			40
Proenergia	Natural Gas Distribution	27.45	%		126			35
Other					45			44

SUBTOTAL (Excluding Headquarters and Other)					764			660

Headquarters and Other	Headquarters	100.00	%		(113	)		(113	)


TOTAL				$	651		$	547


For the year ended December 31, 2008
Total				$	379		$	375

Note: The above balances exclude intercompany activities and include dividends from equity investees.

Proportional free cash flows include estimates for GTB and TBG based on budgeted operating cash flows less maintenance expense.

For Accroven, due to pending negotiation and current cash situation, we did not include any operating cash flows for this equity investment.


(a)		Ownership percentages changed in December 2009, however, previous percentages were used to calculate proportional free cash flow.

Annex XII

AEI
Proportional Financial Metrics
- by operating company
(derived from U.S. GAAP data)
As of and for the year ended December 31, 2009
(Unaudited)
(millions of dollars (U.S.), except for ownership Percentages)


																									LUZ DEL									SAN
	DELSUR			DCL			EDEN			ELEKTRA			ELEKTRO			EMDERSA			EMGASUD			CHILQUINTA			SUR			ENS			PQP			FELIPE			TRAKYA
EBITDA CALCULATION:
Net Income	$	1		$	(29	)	$	11		$	11		$	208		$	3		$	(6	)	$	40		$	75		$	21		$	20		$	58		$	23
Add back:
Depreciation and amortization		12			5			3			15			102			2			11			20			28			1			8			(4	)		16
Noncontrolling interests		1			(16	)		1			10			1			1			—			3			23			—			—			—			17
Provision (benefit) for income taxes		6			—			4			10			97			—			2			9			50			6			10			26			15
Interest expense		5			12			2			9			46			3			14			14			15			4			5			1			10

EBITDA		25			(28	)		21			55			454			9			21			86			191			32			43			81			81
Subtract:
Interest Income		—			—			—			1			38			—			1			9			4			—			—			6			6
Foreign currency transaction gain (loss), net		—			—			(2	)		—			3			(1	)		1			(16	)		—			—			—			—			—
Gain (loss) on disposition of assets		—			—			—			—			(21	)		—			—			—			—			—			—			—			—
Other charges		—			(25	)		—			—			—			—			—			—			—			—			—			—			—
Other income (expense), net		1			—			(1	)		—			42			(1	)		1			(20	)		1			—			(1	)		25			—

ADJUSTED EBITDA	$	24		$	(3	)	$	24		$	54		$	392		$	11		$	18		$	113		$	186		$	32		$	44		$	50		$	75

AEI Percentage Ownership		86.4	%		60.2	%		90.0	%		51.0	%		99.7	%		77.1	%		42.7	%		50.0	%		38.0	%		100.0	%		100.0	%		100.0	%		90.0	%

Proportional Share — Adjusted EBITDA	$	21		$	(2	)	$	22		$	28		$	391		$	9		$	8		$	57		$	71		$	32		$	44		$	50		$	67


NET DEBT CALCULATION:
Debt	$	65		$	79		$	3		$	119		$	617		$	62		$	136		$	267		$	232		$	62		$	71		$	—		$	80
Less: Cash		(10	)		(1	)		(19	)		(6	)		(174	)		(5	)		(2	)		(4	)		(7	)		(3	)		(20	)		(15	)		(114	)
Restricted cash — current		—			—			—			—			(4	)		—			—			—			—			(3	)		(4	)		—			—
Restricted cash — non-current		(3	)		—			—			—			(40	)		—			—			—			—			—			—			—			—

NET DEBT	$	52		$	78		$	(16	)	$	113		$	399		$	57		$	134		$	263		$	225		$	56		$	47		$	(15	)	$	(34	)


Proportional Share — NET DEBT	$	45		$	47		$	(14	)	$	58		$	398		$	44		$	57		$	132		$	85		$	56		$	47		$	(15	)	$	(31	)

[Additional columns below]

[Continued from above table, first column(s) repeated]


																PROMIGAS			PROMIGAS			PROMIGAS						PROMIGAS						PROENERGIA			PROENERGIA
	LUOYANG			ACCROVEN			**GTB			**TBG			**CUIABA			PIPELINE			GDO			GDC			CALIDDA			SURTIGAS			***China			SIE			GNC
EBITDA CALCULATION:
Net Income	$	(6	)	$	28		$	37		$	299		$	(36	)	$	14		$	14		$	39		$	8		$	7		$	7		$	6		$	9
Add back:
Depreciation and amortization		7			23			18			55			11			14			4			4			7			3			9			35			11
Noncontrolling interests		(6	)		—			—			—			(132	)		10			18			3			—			11			5			39			9
Provision (benefit) for income taxes		2			6			16			155			9			9			16			23			3			10			1			30			10
Interest expense		9			15			24			62			27			27			4			16			4			8			1			43			9

EBITDA		6			72			95			571			(121	)		74			56			85			22			39			23			153			48
Subtract:
Interest Income		—			—			2			—			—			2			—			1			1			1			—			3			3
Foreign currency transaction gain (loss), net		—			(1	)		—			252			5			7			—			(1	)		1			—			1			9			—
Gain (loss) on disposition of assets		—			—			—			—			—			3			(2	)		—			—			—			—			—			—
Other charges		—			—			—			—			(96	)		—			—			—			—			—			—			—			—
Other income (expense), net		—			(1	)		—			—			—			—			(1	)		5			—			—			—			(1	)		—

ADJUSTED EBITDA	$	6		$	74		$	93		$	319		$	(30	)	$	62		$	59		$	80		$	20		$	38		$	22		$	142		$	45

AEI Percentage Ownership		50.0	%		49.3	%		17.7	%		4.0	%		50.0	%		52.1	%		46.9	%		16.2	%		80.9	%		51.6	%					27.5	%		24.4	%

Proportional Share — Adjusted EBITDA	$	3		$	36		$	16		$	13		$	(15	)	$	32		$	28		$	13		$	16		$	19		$	17		$	39		$	11


NET DEBT CALCULATION:
Debt	$	119		$	138		$	273		$	346		$	—		$	313		$	78		$	164		$	27		$	90		$	34		$	486		$	96
Less: Cash		(2	)		(4	)		(25	)		(150	)		(17	)		(25	)		(23	)		(11	)		(16	)		(14	)		(45	)		(92	)		(7	)
Restricted cash — current		—			—			—			—			(49	)		—			—			—			(3	)		—			—			—			—
Restricted cash — non-current		—			—			—			—			(7	)		—			—			—			—			(1	)		—			—			(1	)

NET DEBT	$	117		$	134		$	248		$	196		$	(73	)	$	288		$	55		$	153		$	8		$	75		$	(11	)	$	394		$	88


Proportional Share — NET DEBT	$	59		$	66		$	86		$	16		$	(73	)	$	150		$	26		$	25		$	6		$	39		$	(12	)	$	108		$	21


**		Ownership percentages changed in December 2009, however, previous percentages were used to calculated proportional EBITDA.

***		Includes Tongda and BMG at ownership percentages of 100% and 70%, respectively.

AEI 6-K