Corporate governance model

As shown above, EPM’s governance structure combines:

• Formal elements: represented by different corporate governance practices of the Company, which are duly officialized within and out of EPM.

• Informal Elements: represented in a set of practices immersed in the Company’s organizational culture, which are pillars of the transparency and trust with the citizens.

• Control Mechanisms: which combine internal and external elements, and are conducted not only by oversight and control bodies but also by different stakeholders.

EPM is a 100% state-owned ccompany owned by the Municipality of Medellin. Given its nature, our governance structure is designed to boost the advantages of being a public entity and to mitigate the risks related to its nature.

The Company’s ownership structure is shown in the following figure:

The figure above shows the bodies which exercise each of the roles of the governance structure, and the practices implemented to guarantee good governance.