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Good works speak for themselves


Contents

Editorial / Guest Columnist

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A Publica on of CONALVÍAS

Memories of an Entrepreneur

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Year 10 Issue 34

A Story of Challenges

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Leadership and Strategic Vision

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A New Genera on, New Approaches

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Chronology/Noteworthy Achievements

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May – June – July – August 2015 Andrés Jaramillo López CEO César Jaramillo Country Manager Panamá Edgar Jaramillo Country Manager Perú Editor William Peñaloza Díaz Administra ve Vice President Wri ng and Design Jennifer Porras Beltrán Assistant of Corporate Communica ons

Recogni ons along these 35 years

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Permanent Support of our People to Conalvías

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Congratula ons from the Places where Good Works take place

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Tes monials of our Strategic Allies

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Obed Fragozo Senior Director of CSR Nicolás Abenoza Organisa onal Estructure Director Cover Work Team Conalvías Project Graphic Produc on Impresores del Estado Ltda. www.impresoresdelestado.com

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EDITORIAL / GUEST COLUMNIST

35 truly magnificent years

By: Juan Mar n Caicedo Ferrer* *CEO of the Colombian Chamber of Infrastructure

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ever before have stars aligned as now: at least not those gravita ng around the infrastructure sector in Colombia. And this is not a coincidence of the stars. It is a circumstan al phenomenon that took place due to a high dose of poli cal will and which, in simple words, aims at overcoming the pi alls that have stood in the development of infrastructure in the country. It is not fortuitous that the State has nowadays specialized en es to take care of the sector, such as the Na onal Agency of Infrastructure (ANI) or the Finance Company of Na onal Development (FDN). Neither was accidental the enac ng of standards – such as the law of Public-Private Associa ons (APP) or the Infrastructure Law – to s mulate the ini a ve of par culars while ensuring the complete development of projects. Last but not least is the fact that the necessary resources to raise the flags of a true historical revolu on in terms of roads, airports, rail networks, fluvial naviga on and airports are available. All the above-men oned - which has been a ained in recent mes - is a powerful an dote that from now has started to delete the lag marks

that were impressed for decades on na onal infrastructure. But, in the interests of dele ng those lag marks -once and for all- the role of private construc on companies will be final: in fact, it is already. And if it is about bringing to the table the names of those companies that have contributed to the development of the country in terms of infrastructure, one of the first that comes to one's mind is Conalvías: An engineering firm that had already measured the need to address this flank long before the Na onal Government undertook this crusade to recover the state of roads, ports and rail networks. So much so, that it has been working for 35 years with commitment and responsibility in works of sheer magnitude. Among those projects that Conalvías has enabled to come true we can men on, in first place, the majes c La Aguacatala bridge of Medellin, which was even awarded the Asocreto Award in year 2000. In Cali, to bring up another project, we would like to highlight the depression of Colombia Avenue, which received the Cemex Award 2014. or the construc on of the Jairo Varela square that earned the same recogni on in 2015, to name but a few.

In short, the list of contribu ons made by Conalvías to the improvement of the na onal infrastructure is long. Now its role in the future will be even more important, basically for the responsibility it already has to put forward new ini a ves that will be under its charge, such as the construc on of the third lane of the Bogotá-Girardot highway. But Conalvías' responsibili es do not merely circumscribe to the Colombian territory. For 15 years, the organiza on has widened its range of ac on through the execu on of infrastructure projects in the interna onal markets of Perú and Panamá, where it is s ll present. It likewise entered the United States around year 2010. It is in this way that Conalvías was born 'shy' in Cali in 1980, under the direc on of the civil engineers César Jaramillo and Edgar Jaramillo, and is nowadays -35 years later- undoubtedly one of the firms called to revolu onize the Colombian infrastructure and to place it to the level of countries that, like Mexico or Brazil, found the key to overcome their lag. ¡Congratula ons!

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MEMORIES OF AN ENTREPRENEUR

“I never imagined the company would grow to such an extent” César Jaramillo César Jaramillo, Country Manager Panamá

Work, perseverance and dedica on are some of the words that characterize engineer César Jaramillo, cornerstone in the crea on of Conalvías, as well as the posi oning, consolida on and globaliza on in the different markets.

Some first-hand anecdotes as told by this gentleman, for whom an introduc on is not needed.

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n two previous mes, I a empted to create partnerships but neither succeeded. In my first a empt, my partner had an accident and in the second, interpersonal rela onships prevented 'Constructores Unidos' (Constructors Together) - the company that had risen as a partnership - from prevailing. This second predicament, however, taught me an important lesson: for a partnership to succeed, someone needs to lead. Where two try to lead, neither actually does. While I was working for the Conciviles construc on firm in a project located in Mesitas del Colegio, in my last year I had the opportunity of sharing me with engineer Edgar Jaramillo, my first cousin. He had just graduated from the Faculty of Civil Engineering. A er I stopped working for Conciviles, I thought of him as my ideal partner. Due to the circumstances, tempers and for being 15 years younger, Edgar accepted me as the leader of the company. I saw him as a hard-working man. I would like to highlight his honesty, a fundamental element in partnerships, where it is not easy to trust other people. I truly believe that, in order to succeed in any ac vity, three condi ons are required: financial support, knowledge and a passion for the ac vity to be performed. These three requirements are absolutely necessary. So, by the me I reached the fourth decade of my life, everything unfolded naturally. I had found the right person to partner with, I had 16 years of experience in civil engineering, I had seed funding and was finishing the work I was assigned in Conciviles. In this way, I felt confident to open, together with my cousing and a secretary, 'Jaramillo Ingenieros' in the city of Cali - the partnership that would later become Conalvías S.A.

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We began working with contracts with the Municipal Companies of Cali and the municipality of Cali, building streets, water and sewage networks in neighborhoods. We also entered into contracts with Ferrocarriles Nacionales to repair culverts in the railways of Valle and Quindio. We also began building rural roads for state enterprises, Fondo Nacional de Caminos Vecinales and the Corporación Autónoma Regional del Valle del Cauca (CVC). At that me, we purchased machinery intended specifically for the higher volume of ac vity required in the contracts we engaged. Edgar was a newlywed, he was in charge of the works in the city and I was responsible for works outside of the city... what I have always loved: earthmoving, highways, bridges, and so on…. Two projects were our launch pad. The first one was the urbanism work we undertook for Ingenio Melendez, a residen al community south of Cali and the second, the construc on of access routers to the Calima III hydroelectric power plant, promoted by CVC. From that point on, we had a sufficient grounding in knowledge and became a renowned company. The development of these works took place at the same me one of the largest construc on companies went bankrupt, specialized in buildings and infrastructure construc on in the capital city of Valle del Cauca. Facing this situa on, we prac cally replaced the said company in the market of road infrastructure, while a firm of An oquia replaced it in the construc on of buildings.

From that moment on, the partnership began to grow and grow and, being honest, I never imagined the company would grow to such an extent. I remember the words of the owner of Conciviles, who used to say that: it was be er to be the owner of a small company, than a big company, because the la er would have to face so many issues and there was the need to make difficult decisions. But iner a pushes one forward to grow. It is clear that the 180-degree turn that Conalvías experienced in this aspect was implemented by my son Andrés Jaramillo. Even though Andrés studied Economics and Business Administra on, for a long me he visited work sites with me. That is why he is some sort of 'empirical engineer', as ever since he was studying, he has worked with us. When he finished university, he started to work fullme and in years 97 and 98, a genera onal takeover took place in the company. Andrés took the lead and I stood in the back. I devoted myself to build and Andrés, to manage. While I was the manager of the company, our company was based in Cali. Se ng up an office in Bogotá was Andrés' ini a ve, and so it was to expand to other countries. Nowadays, I am the Country Manager in Panamá-. Star ng in this country was not easy, but we managed to consolidate. Currently, I am 75 years old and with plenty of air in my lungs, I feel sa sfied for the accomplished duty, for having trained, provided for my family and, above all, to know how it feels like - as expresident Uribe used to say: I laid the eggs but someone else hatched them.


A STORY OF CHALLENGES

From Jaramillo Ingenieros to Conalvías S.A. Edgar Jaramillo, Country Manager Perú When Edgar Jaramillo founded Conalvías S.A. together with César Jaramillo, they were far from suspec ng the growth the company would experience in the future. It was year 1980, when in their capacity of engineers of a renowned company in the sector, they decided to take the first step to set up their own company, with the convic on that they were building a be er country. Fortunately for the Colombian engineering sector, this ini a ve became one of the largest civil engineering construc on companies in Colombia, simultaneously opera ng in other three countries: United States, Panamá and Perú.

With the sa sfac on for the accomplished duty, but with the energy to keep contribu ng to the strategy of its Organiza on, engineer Edgar Jaramillo shares some of his stories, the same that made possible the construc on and sustaining of what nowadays is what makes all Colombians feel proud: Conalvías:

Who were César Jaramillo and Edgar Jaramillo when the decade of the 80's started, before founding Conalvías? As civil engineers both of us worked for the Conciviles construc on company in a hydroelectric plant located in Mesitas del Colegio (Cundinamarca). While working there, César proposed me to set up a partnership which at the beginning was named JARAMILLO INGENIEROS. I had been working as an engineer for two years, César had more experience. I accepted and we agreed to set up the partnership in San ago de Cali. When did the company changed its name to Conalvías? Five years later a er we incorporated the company, it was named Conalvías S.A The first work that we executed as a company was “La Riverita” parceling project in the city of Cali. Do you remember what was your star ng capital? Our capital was a Suzuki car, the Toyota car of César and the loader we purchased - a 944. I remember we purchased it on credit and we divided the ini al repayment into equal parts, each according to our share in the partnership. How many people formed the company back at that me? In that stage, we were only César, a secretary and me. When we started, we worked from Sunday to Sunday. César and me used to do absolutely everything. In addi on to being engineers, we worked as topographers, recep onists, etc… What was the purpose of crea ng the company? Our purpose was to build Civil Engineering works in Cali and in Valle del Cauca.

How did those first works go? We submi ed eight bids and we were awarded two: one in San Pedro neighborhood and another one in Primavera neighborhood, for water and sewage networks. While César devoted himself to La Riverita parceling, I, on the other hand, was in charge of water and sewage works in these neighborhoods.

company and nowadays, he is an operator of compactor in the Ruta del Sol project. I also remember Jorge Mario Roman, who entered the company as a Resident Engineer in Cali and worked in every engineering posi on un l becoming Vicepresident of the Cali Regional branch. He le the company and set up his own business.

We grew stronger and simultaneously began submi ng tenders for other works with the Fondo de Caminos Vecinales in Valle del Cauca and there, we were also awarded some roads. César was responsible for the execu on of works outside of Cali and I took on works in the city. Outside of Cali, we won the access route to Calima III, a rela vely big work for the me. Simultaneously, we won the work for El Ingenio residen al area, first stage and then, we were awarded the second and third stages.

How do you feel as a person a er 35 years of witnessing the growth of the company? I feel the sa sfac on in Cali when I pass by the bridges, the streets, the neighborhoods and feel so proud of seeing works that have come true and serve the city.

Which was the relevance of the Calima III access route and El Ingenio residen al area works within the company? It is clear to me that these two works where the star ng point where the company began to grow and enabled us to become one of the strongest companies in Valle del Cauca. Do you remember any anecdote from those early stages? One of the anecdotes I remember the most was a project we were carrying out in Santa Rita in Cali, where we were contracted to perform excava ons for a building. However, while we were carrying out this work we found a stone of a considerable size and when placing the explosives to destroy it, some pieces flew to the roofs of houses in close proximity. Thank God there were no hurt people. On the next day, with a squad of 20 people we went to the work site to fix the damages we caused to neighboring houses. Which employees do you remember as leaving a mark in Conalvías over these 35 years? I remember Jesus Maria Rendon well. He started as a laborer in the first works of water and sewage. He worked his way up in different posi ons in the

Cali recently evolved with the Avenida Colombia tunnel and boulevard constructed by Conalvías, which contributed to an important transforma on of the city. Likewise, whenever I travel to Perú, I feel deeply sa sfied for the work we have developed. We have represented the name of our company well. Something that characterizes Conalvías is that we work with the best quality in each work we are awarded and we finish each of them, no ma er what. We have never le a single work abandoned. Another sa sfac on has been the job crea on and seeing how our members progress at their family and professional levels. What do you think about the genera onal takeover in terms of the management of Conalvías? With the second genera on Andrés Jaramillo entered the company. He projected the company at na onal and interna onal levels. Nowadays we are posi oned in Colombia, Perú, Panamá and the United States. Currently, we are welcoming the third genera on with Camilo Jaramillo and Juan David Jaramillo. We trust they con nue to reap the rewards, create jobs and keep up the same c o m m i t m e n t a n d re s p o n s i b i l i t y t h a t h a s dis nguished us.

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LEADERSHIP AND STRATEGIC VISION

“Our strategy has been to work” Andrés Jaramillo Lopez, CEO of the Conalvías Business Group Overseas

A er comple ng 35 years of con nuous work in the civil engineering construc on market, the CEO of the Conalvías Business Group, Andrés Jaramillo, took a very posi ve stock of the strategies that led the organiza on to be placed among the top construc on companies in the country, the difficul es and opportuni es that the group is likely to face in the upcoming years and those to be implemented in the future.

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ork”. So it was described by the chairman of the Conalvías Business Group as the main strategy used by the organiza on to consolidate as one of the top civil engineering construc on companies in Colombia, opera ng simultaneously in three other countries.

“4G´s opened the possibility for other companies to enter with great capital and machinery. We will need to overcome that adversity with the efficiency, quality and responsibility that characterize the Colombian engineering industry, failing which, we will be bound to become sub-contractors”, he added.

And it is no wonder. Many works have been executed during these 35 years of con nuous services. More than three thousand linear meters in bridges, as well as the experience in roads, airports, ports, thermal power sta ons and dams endorse this.

But the greatest challenge will be, undoubtedly, to capitalize the Organiza on and for that reason, he stated that the organiza on is now looking for financial partners to provide work resources and so execute works in concession, without losing control over processes.

According to Andrés Jaramillo, one of the determining factors in the growth of the company has been the con nuous monitoring of the target market and the capacity to adapt fast to the circumstances of the environment. “The company first focused on opera ng in Cali, but we experienced a market contrac on in this city that forced us to look for new opportuni es in Medellín and Bogotá. When we learned to manage several works simultaneously, we faced a contrac on of our market in Colombia. Therefore, we expanded to Panamá, Perú and the United States, thus finding opportuni es that are currently one of our compe ve advantages", he said. Conalvías' chairman thinks that one of the main challenges that the organiza on will face will be compe on with foreign companies. He believes, however, that Conalvías has a deep knowledge of the market in this country, which is an advantage over other interna onal organiza ons. “The construc on market in Colombia is established. This means that the companies that are currently here will have to compete against low margins and the opera ng efficiency will be, therefore, a determining factor for local companies”, he stated.

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“We need to make the right moves in the upcoming two years so as to ensure our par cipa on in other projects as big as those we work on nowadays. We will need to strengthen the financial area and that is the main challenge”, he said. Regarding the target market the organiza on aims at, the chairman stated that the company will con nue to focus on public works within its por olio as well as private ini a ves. Thanks to this strategy, the Organiza on will be able to undertake works during the years that the government creates resources for infrastructure, while maintaining its opera ng capacity in the recession cycles due to the Guarantee Law and changes of government. “Conalvías has fixed costs that no longer allow us to be compe ve in works of small scale. Therefore, we are not going to work with that market. We will rather focus our energy on public tenders without discarding private ini a ves" he said.

Regarding markets overseas, he stated that Perú is currently undergoing a recessive cycle in public contrac ng and, therefore, the organiza on is looking for opportuni es through two private ini a ves that have been already submi ed to the government of this country, as well as a public tender in the form of concession. In spite of the downturn in infrastructure construc on that is taking place in Panamá, Andrés Jaramillo stated that the company will have great opportuni es. “Unlike the markets in Colombia and Perú, infrastructure works in Panamá are funded by the government. During the previous government, Conalvías made the most of the high dynamics back then. These ac vi es have decreased significantly in the current government. We know, however, that there will be new works”, he stated. With regard to the United States market, he said that the contrac ng levels in the said country in the next three years will be much higher compared to the current ones. For example, the company has so far entered into contracts amoun ng to approximately 75 million US dollars and is now par cipa ng in tenders amoun ng to around 500 million US dollars, showing that the market is crea ng opportuni es.

The human factor, an advantage He added that this is a business in which the company faces new challenges on a daily basis. The staff should, therefore, be able to adapt to that new reality and be strong enough to overcome unforeseen circumstances. Likewise -he went on to say - concerning procedures, cost control methodologies and project progress control, we have very high levels in rela on to the interna onal se ng. He remembers that there are other construc on companies that have made a decision to hire senior officers of the company because they think the officers will take part of the knowledge of how this business works, “but this is such a dynamic company, that when an officer is hired by another company for those purposes, a er six months that person is going to be absolutely "out of sync" with who we are. The person that leaves Conalvías only to return six months later, will return to a totally different company and that is why we are permanently reinven ng ourselves”, he stated. “The members that currently work for Conalvías stand out for their honesty, suitability, dependability, work capacity and high sense of belonging. That is why we are at the forefront of the construc on companies in Colombia", Andrés Jaramillo concluded.


A NEW GENERATION, NEW APPROACHES

“Conalvías is in my DNA”, Camilo Jaramillo Financial Vice-President of the Business Group Since he was only 5, Camilo Jaramillo used to go with his dad to the Agremezclas Plant in Puerto Tejada and so, even being a boy, he started to live the daily rou ne of the company and the business development. When he was 12, during his holiday break, he collaborated for the first me in Conalvías photocopying documents at the Cali branch.

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even years later, halfway toward his degree as an Industrial Engineer at De Los Andes University, he began half- me work and performed du es of work and equipment supervision for the Calle 26 project. Subsequently, he worked in the Budget Department where he prepared bids, one of them for the Miel II Hydroelectric Power Sta on. A few years later, during a holiday break, he traveled to the United States where the company owned a ready-mix concrete produc on business back at that me and in which he was in-charge of the shipping to clients on a daily basis. In 2011, he began working full me for Infracon, one of the companies of Conalvías group, which at the me projected the factoring line as a new business line, so as to provide financial services to the suppliers of the business group. Camilo says that was quite a successful decision. “It picked-up strength and three months later, we decided to create a company that was not a line of Infracon, but a whole new company intended for that specific business, financial services. So Fincon was born”. From that moment, he aimed at developing this business, which he managed for two years un l December 2012.

Recently, the Financial Vice-presidency was created and he was promoted to the posi on, which seeks to ar culate all the financial departments of the organiza on. “I mean, I con nue to be a delegate of the Board of Directors to co-manage Fincon, I con nue to have the responsibility of leading and structuring the concession businesses but I have also taken on the responsibility of leading the financial management ac vi es of all the companies that make up the business group”, says the engineer. Within his achievements in Infracon, he believes that the skill to create efficiency in concession contracts has grown based on building a good rela onship with the client. Moreover, a great effort has been made to analyze business models that enable to forecast future returns, thus maximizing previously-made investments. “From the financial standpoint - investment profitability, in this way we have become crea ve and innova ve in seeking to enhance the profitability of investments in our hands”, he emphasized.

“We made a choice for me to work directly with the infrastructure business and so, we looked for a manager for Fincon. For this posi on Jhonier Villa was promoted. He is a person that was developing his career in Conalvías and who con nues to manage the said company to the present me. I am the delegate of the Board of Directors to co-manage Fincon with him, so to speak”, he says.

He also highlighted that the company has a dis nc ve feature and it is found in project structuring. According to Camilo, this is the only organiza on in the infrastructure sector that nowadays is technically, legally and financially able to structure a fully in-house private ini a ve project (PIP), without the need to ask for external funding. Therefore -he specified- none of our compe tors has the poten al that we have developed in Infracon to structure this type of projects.

Then during a period of transi on, he worked in the Senior Management Department of Strategic Planning of Conalvías Investments. Three months later, the former manager of Infracon resigned and he took office in March 2013.

Due to the above, they have been working on the development of two private proposals for Colombia for almost three years. These proposals are expected to be awarded by the end of 2015. One of these ini a ves corresponds to the third

Bogotá – Girardot lane, which would become the largest private ini a ve concession contract awarded un l now in the history of the country. “The highway is currently a divided carriageway, with two lanes each. Our proposal is to widen both sides. In short, the current divided carriageway will remain the same but with three lanes each side, such as the highway from Cali to Palmira”, he said. The second ini a ve, for which the feasibility study has been already submi ed, calls for the construc on of a single carriageway spanning along 15 Km and linking La Virginia with the Pereira - La Victoria corridor, granted by Conalvías, also connec ng with the south-west of the country even with Buenaventura. In this way, he assures that - from the financial point of view - Infracon is sort of becoming the jewel of the Business Group crown, as it operates as a private capital fund in own posi on. That is, this is a company with assets, with no debt and long-term guaranteed returns as a result of the concessions that are entering its por olio. As such, to the mid-term, it is almost certain that Infracon's market value would be even higher than Conalvías Construc ons'. When Camilo Jaramillo began work at Infracon, he knew very li le about the concessions business. Nowadays, he knows this is an exclusively-financial business and that is his world, the world where he performs the best and he feels passionate about, added to the fact that he has the chance of doing it in the organiza on that is in his DNA, as he himself has said. “Let us say that the knowledge I have now on concession businesses is quite significant. I believe during the last few years managing Infracon, my work team and I have won the respect and admira on of the organiza on”, he concluded.

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A NEW GENERATION, NEW APPROACHES

The challenge of posi oning the produc on centers in the external market Juan David Jaramillo, Manager of Produc on of the Business Group

Just graduated from the Xavierian University of Cali, Juan David Jaramillo Moncayo worked in every administra ve and accoun ng department of Conalvías, un l the me he assumed the posi on of Reengineering Head, from which he led the company's restructuring with the support of outsourced consultants.

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n this way, he began by upda ng all ma ers related to the strategic management of the company: the vision, mission and objec ves. In this process, the crea on and/or restructuring of the departments of Communica ons, Insurance Management and HSE was defined. Nowadays, this industrial engineer is confident that a new stage in the company started with the results of that administra ve re-engineering process. A er the period in which he was leading the above process and for nearly five years, he was in the posi on of Senior Manager of Administra ve Services, formed by the Communica ons, HSE, administra ve and human resources departments. More recently, he managed Patria and Agremezclas, which at the me were part of the group but ceased to operate in October 2014 and now belong to the business line of Conalvías. He is the current Manager of Produc on of the asphalt mix and stony material line, in the produc on centers of Puerto Tejada (Valle del Cauca) and Mosquera (Cundinamarca). “My main responsibility is to ensure the provision of materials required in the work sites of Conalvías. I have to supply everything related to

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asphalt mix and stony material, depending on the needs in each project”, he states. Likewise, he reiterates that the inclusion of Agremezclas and Patria to the business lines of the company and their vanishing as companies was the result of a cost op miza on strategy, which has had an effect on efficiency and a decreased final value in the produc on of these materials. “In turn, it gives us me to look for a strategy to find new clients that may need the product. Then we proceed to quote the services we provide through these Centers”, added the industrial engineer. Currently, the Produc on Centers make up for the demand of materials for two big projects of Conalvías: Agua Dulce Port in Buenaventura and Eldorado Airport taxiways in Bogotá. While the needs of asphalt mix for Agua Dulce in the produc on center located in Puerto Tejada are in their final stage, this is no impediment to con nue opera ons in the plant, since recently a new contract with the firm Cass Constructores was agreed to provide the material to some of the road projects that are developed in the region.

On the other hand, the works in the airport of Bogotá, currently led by the Produc on Center in Mosquera have competed two years of execu on. According to Juan David, these plants that have been in Conalvías for more than 10 years, have undergone improvements over me, specifically to meet environmental issues and, therefore, the necessary adjustments to regulate air emissions have been made. Today, the two produc on centers have 60 employees and, although they are part of smaller company business lines (it is es mated that the internal turnover of these plants can reach 15 billion pesos this year), it is clear that the strategic shi they had in the company enables them to be more efficient in terms of costs and thus be er results. Finally, the challenge they now face is to make the produc on centers generate profitability for the company. "We want to leverage the strength of having a cap ve domes c market and start looking for a foreign market, posi oning Conalvías in the sale and marke ng of asphalt mixtures" he concluded.


CHRONOLOGY/NOTEWORTHY ACHIEVEMENTS

Works that speak about our history 35 years have led into the construc on of major projects at a na onal and interna onal level; structures that have transformed reali es and pushed Conalvías to the top places among the best companies in the country. Perú, Panamá, United States and Colombia endorse the quality of the work we have made.


CHRONOLOGY/NOTEWORTHY ACHIEVEMENTS

Projects in Colombia

Calle 12 sur Interchange (La Aguacatala sector) 18/11/1997 - 26/06/1999

Projects in Colombia

El Cercado Dam Construction Ranchería and San Juan del Cesar 11/01/2002 – 30/11/2010

Projects in Colombia

Construction of a leg of the corridor for the Comprehensive System of Mass Transportation “Transcaribe” 12/10/2005 – 20/09/2007

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CHRONOLOGY/NOTEWORTHY ACHIEVEMENTS

Projects in Colombia

Hidrosogamoso Alternate Roads 01/07/2011 – underway

Projects in Colombia

Bucaramanga Reservoir Tona River Regulation project 21/09/2010 – 21/07/2016

Projects in Colombia

Avenida Colombia tunnel 21/10/2010 – 28/04/2013

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CHRONOLOGY/NOTEWORTHY ACHIEVEMENTS

Projects in Colombia

Plazoleta de la Caleñidad – Jairo Varela 21/10/2010 – Phase 1: 20/05/2013 Phase 2: 20/05/2014

Projects in Colombia

Aguadulce Port Access routes 09/08/2013 – underway

Projects in Colombia

Aguadulce Port Container Yard 09/02/2015 – 09/05/2016

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CHRONOLOGY/NOTEWORTHY ACHIEVEMENTS

Taxiways Complementary System El Dorado Airport 13/03/2014 – 13/03/2016

Projects in Colombia

Ruta del Sol Leg III 01/06/2011 – 31/05/2019

Projects in Panama

Roads and bridges in Veraguas 11/02/2011 – 31/10/2016

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CHRONOLOGY/NOTEWORTHY ACHIEVEMENTS

Projects in Panama

Car bridge: Santos Jorge La Amistad road intersection 26/10/2010 – Underway

Projects in Panama

Los Mártires avenue viaduct 04/06/2012 - 15/01 /2014

Projects in Panama

Patacón bridge 30/01/2008 – 31/07/2013

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CHRONOLOGY/NOTEWORTHY ACHIEVEMENTS

Projects in USA

Metro Parkway January 2013 – underway

Projects in USA

I-75 28/10/2013 – underway

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CHRONOLOGY/NOTEWORTHY ACHIEVEMENTS

Projects in Peru

Refurbishment and Improvement Work Along Chamaya Jaen - San Ignacio - Rio Canchis Road, Leg: Pericos 15/01/2013 – 16/09/2014

Projects in Peru

Refurbishment and Improvement Work Along Chongoyape Cochabamba - Cajamarca Highway, Leg: Cochabamba – Chota road 20/12/2011 – 22/06/2014

Projects in Peru

COSAC Corridors Lima Metropolitan Area / Construction of Central Corridor Leg I: Av. España - Av. Alfonso Ugarte 7/07/2008 – 31/07/2009

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RECOGNITIONS ALONG THESE 35 YEARS

Award to Excellence in Civil Works Asocreto 2000 - Colombia La Aguacatala, Medellín Interchange In the city of Medellín took place the construc on of La Aguacatala Road Interchange, meritorious work of the 'Excellence in Concrete' award, in the category of Excellence in Civil Works, arranged by the Colombian Associa on of Concrete Producers - Asocreto. The work was recognized for the innova ve applica on of concrete and work quality level. The project was described by the same organiza on as an architectural work that gave iden ty to the city.

Best Works of Architecture 2008 – Panamá Tocumen Airport Parking Lots The Panamanian Society of Engineers and Architects recognized Conalvías Panamá in the contest 'Best Works of Architecture' 2008 for its project named 'Tocumen Airport of Panamá Parking Lots.

ARL SURA 2011 – 2012 Acknowledgment - Colombia During the ARL Sura Excellence Awards, which recognize the commitment and development of Health and Safety Management Systems at Workplaces, Conalvías S.A. was nominated in the category of Best Management of the Central Regional area, and received an acknowledgment for its par cipa on.

Recogni on to the Commitment to Quality - Perú 2012 Quality Management Commi ee Conalvías Perú earned the 'Recogni on to the Commitment to Quality', award granted by the Quality Management Commi ee in the country, for its suitable management system and for obtaining the ISO 9001:2008 cer fica on.

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RECOGNITIONS ALONG THESE 35 YEARS

Recogni on to the Commitment to Safety and Occupa onal Health - Perú Pacífico 2012 This recogni on dis nguishes companies where the commitment towards its employees has been evidenced, by implemen ng and developing an effec ve safety and health management in the workplace. On this occasion, Pacífico Seguros awarded Conalvías Perú the 'Recogni on to the Commitment to Safety and Occupa onal Health' in the category of Construc on, for its efficient management during year 2011 and its compliance with high standards that ensure the control of the risks to which workers are exposed.

FTBA 2012, 2013, 2014 Award United States In development of the FTBA Award granted by the Florida Transporta on Builders Anss INC, Conalvías USA earned the recogni on 'U liza on Achievement Award' for the 2012, 2013 and 2014 consecu ve years, for its contrac ng achievements with companies that represent minority popula ons.

Cemex 2013 Award - Colombia Third place in the category of Infrastructure and Urbanism - Carrera 8 and Calle 70 Road Intersec on, San ago de Cali This work began in October 2010, star ng from an innova ve design that enabled accessibility and movability in a cri c point north of the city, also enabling an easy access to the capital city of Valle for people travelling from neighboring municipali es. This road intersec on earned the third place in the category of Infrastructure and Urbanism of the Cemex Awards 2013. Contemplated within the plan of the 21 Megaobras of Cali, this major work was completed by Conalvías Construc ons in the first half of 2012 and included: two straight bridges on Calle 70, two curved bridges in each of the ends of overpasses serving as U-turns to take Carrera 8 both east and west-bound; a 'depressed' route in Carrera 8 at the intersec on with Calle 70, the construc on of ramps to the straight and curved bridges, public spaces in the surroundings - including a pedestrian bridge; road rehabilita on of central and service roads in the surroundings, of Calle 70 and Carrera 8 as well as the interven on of wet and dry networks in the influence area.

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RECOGNITIONS ALONG THESE 35 YEARS

Cemex 2013 Award - Colombia Award to the Coherence in Accessibility - Carrera 8 and Calle 70 Road Intersec on, San ago de Cali Likewise, during the IX ceremony of the Cemex Award, Conalvías Construc ons was awarded the special prize to the Coherence in Accessibility for the Carrera 8 and Calle 70 Road Intersec on. This prize is awarded to works that provide ease of use by the community, regardless of their mental or physicial abili es.

ARL SURA 2013 – 2014 Acknowledgment - Colombia Conalvías Construc ons was nominated to the ARL SURA Excellence Awards for the second me. On this occasion, the company par cipated in the Zero Accidents and Learn to Come Back categories, together with more than 2000 companies evaluated, and reached the top ten finalists and earned the relevant acknowledgments for the work done.

Sumajg Awards - Peru Antamina 2013 The Sumajg Awards of Antamina recognized the good prac ces or new ini a ves during year 2013 among the contractors of the mining company. Conalvías Peru was dis nguished, as one of its 24 strategic partners, thanks to the outstanding performance and commitment it showed during the same period.

Recogni on for Par cipa on in the Reeducate Campaign - Peru Ministry of the Environment 2013 The Ministry of the Environment of Perú awarded a recogni on to Conalvías Peru for its par cipa on and collabora on in the 'Reeducate Campaign - Recycle to Shelter', carried out in order to foster recycling habits of PET bo les, to collect them and re-use them as raw material in the making of blankets for the popula ons in the most vulnerable areas to frosts.

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RECOGNITIONS ALONG THESE 35 YEARS

Cemex 2014 Award - Colombia First Place in the Category of Infrastructure and Urbanism - Colombia Avenue depression, San ago de Cali Its construc on started in October 2010 and was aimed at improving the movability in the sector, while crea ng a space for the leisure of ci zens. The depression of Colombia Avenue won the first place in the category of Infrastructure and Urbanism, corresponding to the tenth version of the Cemex Award. Within the plan of 21 Megaobras in the city of Cali, we find a 'depressed' route along Carrera 1ª between Calles 5 and 13 with four lanes for vehicle circula on; the refurbishment of the surface of a large boulevard for pedestrians for the enjoyment of the ci zenship, with urban furniture, slowtraffic routes limited to vehicles of the MIO mass transporta on system.

Cemex Works 2014 Award - Colombia Award to the Coherence in Accessibility - Av. Colombia depression, San ago de Cali For a second year in a row, Conalvías Construc ons won the prize to the Coherence in Accessibility, granted by the Cemex Awards in its tenth version for the depression of the Colombia Avenue, as a token of recogni on for the opportuni es that a comfortable access offers to the popula on living in the sector.

Cemex Works 2014 Interna onal Award - Mexico Third place in Infrastructure and Urbanism Av. Colombia depression, San ago de Cali As a result of the recogni on obtained at na onal level, the Colombia Avenue depression work par cipated in the interna onal ceremony of the Cemex Award, a contest that took place during the month of November of 2014 in Mexico. This me, the construc on project competed against 700 projects across the con nent and won the third place in the category of Infrastructure and Urbanism.

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RECOGNITIONS ALONG THESE 35 YEARS

Commitment to the Corporate Social Responsibility WORLDCOB 2014 - Colombia Subsequent to the pre-evalua on process of Business Social Responsibility (RSE) carried out through WORLDCOB and the CSR:2011.2 interna onal standard during the second half of 2014, Conalvías was awarded the cer ficate of Commitment to the Corporate Social Responsibility recogni on by the same organiza on. The said pre-evalua on measured the company in terms of CSR policies, behavior code, structure of the CSR system, work rela onships, work safety and health policies, professional training, family, clients, suppliers, community and environment.

Recogni on to the Trajectory Sura and Delima Marsh 2014 - Colombia Within the framework of the biannual mee ng of Follow-up to the Joint Work Plan for the Management of Occupa onal Risks of Conalvías, which took place with the help of our allies in the Management of Industrial Safety and Occupa onal Health, ARL Sura and Delima Marsh, a special recogni on was awarded to Conalvías for its good performance in risk management - within a framework of con nuous improvement - during years 2013 and 2014, evidencing a posi ve trend in the control of occupa onal accident rates and the quality of life of Conalvías workers.

Recogni on for Par cipa on in the Reeducate Campaign - Perú Ministry of the Environment 2014 During year 2014, the Ministry of the Environment of Perú recognized Conalvías Perú again for its par cipa on and collabora on in the 'Re-educate Campaign - Recycle to Shelter'.

Recogni on to the Commitment to Safety and Occupa onal Health - Perú Pacifico 2015 For a second me, the company Pacífico Seguros awarded to Conalvías Perú the 'Recogni on for its Commitment to the Safety and Health of its members during year 2014' in the category of Construc on, for the efficient management prac ces implemented in the same period.

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RECOGNITIONS ALONG THESE 35 YEARS

Cemex 2015 Award - Colombia First place in the category of Infrastructure and Urbanism - Plazoleta de la Caleñidad Jairo Varela, San ago de Cali Conceived and developed as a cultural project for the leisure of the caleños, the Plazoleta de la Caleñidad is the convenient scenario for the presenta on of emblema c events of the so-called "heaven branch office". The square won the first place in the category of Infrastructure and Urbanism, corresponding to the eleventh version of the Cemex Award. The Plazoleta de la Caleñidad or Jairo Varela Square, as re-named by the Town Hall of Cali due to the decease of this great ar st who was adopted by the city, is also part of the 21 Megaobras project and was executed by Conalvías Construc ons and delivered in two stages, in years 2013 and 2014. This work comprises a large square, spanning across more than 6000 sq. mts, allusive to the environmental se ng of a tradi onal corner of the city, integra ng two side buildings for the encouragement of arts and gastronomy, inherent to this town, with a two-story underground parking garage for 287 vehicles.

Finalists of the Andesco 2015 Award Colombia CONALVÍAS CONSTRUCTIONS par cipated in the 10th version 2015 of the award to Corporate Social Responsibility, promoted by the Na onal Associa on of Companies of Public U li es and Communica ons - ANDESCO, which aims at encouraging duly incorporated organiza ons to introduce the Corporate Social Responsibility - CSR - in its corporate strategies. Conalvías classified to the final stage of the process in the category “Other Sector of the Na onal Economy” and, due to its par cipa on, obtained the following cer ficates: “Best Social Performance”, “Best Market Environment” and “Best Corporate Governance”.

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PERMANENT SUPPORT OF OUR PEOPLE TO CONALVÍAS


PERMANENT SUPPORT OF OUR PEOPLE TO CONALVÍAS

Gustavo Valencia,

a protagonist of Conalvías' story He completed his studies in the SENA with a Technical Degree in Assembly of Diesel Engines and subsequently, with a Technological Degree in Civil Works, which enabled him to enter Jaramillo Ingenieros: the company that was emerging in the 80's, led by engineers Edgar and César Jaramillo.

Gustavo Valencia remembers the first issue of 'Conalvías up to date' magazine, published in year 2006, which headline defined him as the 'Mix of experience and dedica on'. Nine years later, this same publica on restates that he con nues to be that man who sets the standard in each work front for his leadership, stamina and orienta on to results.

And so, he worked for fi een years as Engineering Assistant together with engineers César and Edgar Jaramillo, from which he learned to be brave, to develop a sense of responsibility and to be strong to overcome any obstacle, no ma er how hard. Gustavo re red from the company for a period of seven months to work in an audit to oversee the construc on ac vi es of Conalvías. “It was not easy for me to audit the company with which “I was born”. Fortunately, this company has stood out for its quality in each work”, he states. He returned and became part of the Pereira - La Victoria Dual Highway project, where he started to live with his family. However, few months later, Gustavo was offered by the then Technical Manager of the Project and current VicePresident of the branch in the United States, engineer Nyree Quintero, a proposal that he could not refuse: to assemble and oversee the produc on of plants for the Ranchería River Reservoir Project, which enabled him to move and live in the warm city of Guajira for three years. “Actually, I have learned a lot, lots and lots. I have experience in earthmoving, concrete prepara on, prepara on of reports… and I feel they have recognized these achievements. For the ar st, a er the payment comes the applauses and I feel my work has been recognized”, he says. Thanks to the experience he has gained in the assembly and disassembly of mobile plants, the organiza on created a posi on that would be dedicated exclusively to that ac vity. No one be er than Gustavo Valencia to perform these du es.

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H is cu rrent p o s i o n is Pla nt As s emb ly Coordinator for Conalvías Equipment partnership and he reports to Eng. Mauricio, with whom he has an excellent friendship. Unlike many men of his age, being 73, he has not considered re ring as he believes he s ll has too much to give to the company with which he feels iden fied. His income during these years of work has enabled him to support his family, wife, children and rela ves whom he has helped whenever they have needed financial support, which is just another evidence of his good heart. However, he is aware that he is a very strict man, he loses his temper easily and makes quick decisions. “I like being clear in what I say. I like being demanding to show who I am and what I am capable of”. Gustavo is married and he is father to three children: Carlos Holmes, Ana Lucía and Leonardo César. The la er is the youngest one - 24 years old - and currently studies Business Administra on and works in LA 14 Colombian chain of stores in Cali. “We are not rich but we have lacked nothing. We have never lacked bread on the table". Leonardo remembers that since he was a young boy, he went with his father to each of the work sites where he worked to see up close the equipment of the plants that Gustavo assembled and supervised.


PERMANENT SUPPORT OF OUR PEOPLE TO CONALVÍAS

“I have a great debt to Conalvías for this 35 years”

Jesús María Rendón, Vibro-compactor Operator

One could dare to say that Conalvías was born by the hand of Jesús María Rendón, currently a vibrocompactor operator who, even though being disabled, s ll 'vibrates' for the company where he has worked for more than half his life.

The lessons he has learned in Conalvías are as wide as the love he feels for the company, where he has worked uninterruptedly for 35 years. And it is no wonder. It was the beginning of 1980 when Jesús María got a call from his friend Gustavo Adolfo Valencia, who asked him to see his chances and present himself to the former Jaramillo Ingenieros, which carried out works in the north of Cali. And so he began work as Assistant in the works in the Chiminangos neigborhood, located in the fi h district of the city of Cali. Thanks to the trust his immediate bosses placed on him, he was shortly assigned to the posi on of watchman, where he was able to know the employees that were part of the beginning of the current Conalvías Business Group. Within the works for the comprehensive system, he had the opportunity to support construc on work from another front: opera ng the vibrocompactor. In this posi on, he has remained for more than twenty years and he has been able to take part of the big projects that Conalvías has executed, such as Pereira La Victoria dual highway, Buenaventura and Ruta del Sol Leg III. “Conalvías is a wonderful place to work; it is a good and reliable company. I have given everything to this company and I have grown fond of it. Thanks to this job I was able to guarantee the educa on of my children. I would like to thank my bosses Edgar and César Jaramillo, I cannot thank them enough or repay them for all they have done for me. I feel loved as a son. And Mr. Andrés is like as a second father to me”.

Jesús María remembers that unforge able occasion ten years ago when the company, as a token of recogni on for his trajectory, gave him a house for him and his family, which he enjoyed for many years with María Edith Pavas, his wife and his two children, Martha Liliana and Jonathan. He s ll owns the property, but now his kids and grandchildren, 1 and 3 years old, live there. For María Edith, there are no words to express her thankfulness to the company for these 35 years of stability. With some nostalgia, she told us that her older daughter was only 8 years old when her father started working for Conalvías and, nowadays they feel proud that she is the manager of a Coopera ve of re red workers of the Railroad. “She is the fruit of the effort and of this opportunity that we have had”, she says. María Edith says that engineers Edgar and César have been very close to his husband and they recognize his hard work and the contribu on he has made to the company. She will always be thankful for the way they looked a er the health of Jesús when he suffered an accident at work and now with his current disease, from which he is now recovering. “Every me I need to go to the company to file the documenta on of his disability, people send him messages and say they are wai ng to see him again” she says.

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PERMANENT SUPPORT OF OUR PEOPLE TO CONALVÍAS

Flavio Andrés,

the helmsman of life “29 years working in Conalvías make me feel that I am part of this big company. Leaving the company has never crossed my mind”

The knowledge in driving and explosive handling that he gained while his stay in the Na onal Army were the main cover le ers of Flavio Andrés Zamora to become a member, in his capacity of driver of Móvil 2, of the former Jaramillo Ingenieros, which would become Conalvías S.A. later on.

that because of his work they were able to see each other only every two months. “I was saving money so that we could accomplish the goals we had set for us. Thanks to her, we are the family we are now”, he says with emo on.

Nowadays, 29 years later, Flavio Andrés con nues to perform his du es assigned with the same passion and commitment in the company where he has worked for third part of his life and where he has been able to make his dreams come true: to have a family, to educate his two children and complete his technological degree as accoun ng and administra ve assistant at the Libre University.

While working for Conalvías, he became father of his two greatest treasures: Lina, his older daughter who is now a business administrator from the Libre University and is taking a major in Human Resources Management. Jonathan, who is currently enrolled in the third semester of the program of Marke ng and Interna onal Businesses at the Autónoma de Occidente University of Cali.

Currently, he no longer transports water or construc on material on inhospitable roads in the departments of Cundinamarca, Valle and Tolima, which were the main challenges of the emerging Conalvías. Flavio has been the driver of the Execu ve Management officers at Cali branch for eleven years, a posi on that makes him feel proud not only because of the responsibility it entails but because it ra fies to him that in his almost 30 years of work in Conalvías, he has earned the trust of his supervisors. “Do good and do well”, he says. He also says that during these almost three decades, he has been through some painful and glorious mes. He remembers that important me in him and his family's lives when he received from the company a house as a token of recogni on for his trajectory and valuable contribu on to Conalvías. “My emo on was indescribable”. He also delights in having contributed to the construc on of what Conalvías is nowadays, an organiza on he sees as his second family and of which he feels proud for its social focus, the efforts made to ensure the wellbeing of its workers and how it pays them on me. “I want to thank Mr Andrés, his children Camilo and Valen na, engineers Edgar and César and their families, Laura and her kids, for the trust they have placed on me. More than trust, there is a special affec on. I believe having been a reservist of the army and because of my values as a person, I have handled the company's businesses with confiden ality and that has created trust”, says Flavio. But maybe his main achievement was mee ng his wife and partner, Elvia Giraldo, with whom he undertook the road to have a family, despite the fact

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Flavio, from his family's view: Elvia. She says she feels happy for his husband's job and she truly believes that the company will go forward; “If the company does well, Flavio and our family do well too. Thank God and Conalvías we have what we have now: a house, educa on for my daughter and son and wellbeing for all”. Lina. Conalvías has been of great impact and influence in their lives and thanks to that, they are a family with good values. She states that thanks to the organiza on, they were able to study in good schools and currently, in good universi es. She highlights the opportunity that Conalvías gave her to carry out her appren ceship “Carrying out my appren ceship in the Accounts Area gave me the opportunity to face the reality. It is one thing to know the company from the outside and something different to be part of it. Par cipa ng in the SAP implementa on helped me develop competences that I would not have otherwise been able to gain in the University. I was also able to share with other workers, as well as with Mr. César, Edgar and Andrés Jaramillo. Close fraternal es and a sense of belonging developed. I feel really proud whenever people talk about the company or it is men oned on TV. I feel so excited when that happens!”. Jonathan. He says that as far back as he can remember, he has witnessed how the family has evolved thanks to Conalvías. They used to live in a rented place but nowadays, they have their own house, educa on and stability. “We have evolved from less to more and that is rewarding. Our quality of life has changed for the be er. I feel happy about the opportunity that my dad has had and s ll has with the company and the fruits we have seen so far”


PERMANENT SUPPORT OF OUR PEOPLE TO CONALVÍAS

Orlando Ocoró,

a synonym of endurance and dedica on Orlando Ocoró knew that the call he received one morning from a friend to solve a topography issue, ra fied the quality of a worker he was. What Ocoró (as he is called in work sites) didn't know - was that that call would link him for more than 24 years to a company that has helped him write his story. Orlando, from his family's view: María Gladys was born in Manizales, she is thankful to God because they lack nothing and they live comfortably. They have a three-story house in the Brisas de los Álamos neighborhood and their children are receiving proper schooling. “Conalvías means a lot to me. Stability, educa on, for example”. Jhony

Born in Dagua, Valle del Cauca, he is perhaps one of the most renowned workers in Conalvías, not only for his joyful way to relate to his co-workers, but also because during these 24 years of work, he has had the opportunity to par cipate in different projects that the organiza on has carried out in several places of the na onal geography, as well as in Panamá. He remembers, as if it was yesterday, when working as a topographer of aqueducts, sewage and urbaniza ons in the city of Cali he had to report to Mr. César and Edgar Jaramillo, with the quality that has always characterized him. He also remembers when he used to take the charts to the offices that back then were located in the Granada neighborhood, very close to the Calima popular playhouse. Also, when he had to report to Mr Andrés Jaramillo - current CEO of the group - for all stony materials, during the me he managed Agremezclas. “The group of people that remains in Conalvías Cali has a high sense of belonging to the company. Conalvías is in our hearts and that is

why the company has done well. Andrés Jaramillo has pushed the company forward. As an economist, he sees beyond concrete”. Currently, as Work Inspector, Orlando has fond memories of the mes when he worked together with engineers Jorge Mario Román and Carlos Augusto Arbeláez (who are self-employed), with whom he shared a large part of the projects along south-west. They are great friends. “I help Conalvías and Conalvías helps me and my family. I believe if I have been working here for so long it is because my performance is good. I have par cipated in works in Cali, Pasto, Puerto Tejada and - for 2 years - in Panamá, among other places. I am responsible for measuring the work done and preparing the minutes. Everything we do is invoiced and that is my func on. Experience has enabled me to improve”, he said proudly. His family is formed by his wife María Gladys Garzón, their children Jhony Andrés and Yuli Vanessa and their two pets Peggy and Canela, two 13 and 3 year old dogs.

23, is in the 5th semester of Architecture in a private ins tu on and has completed some technical courses. “If my dad wasn't working for Conalvías, most likely I wouldn't be studying now. It is a solid company, where I see poten al to work once I graduate. I have heard it has built sewage systems, bridges, the MIO in Cali……. Since I was a young boy, my dad has taken me to the work sites and that is why I know some of his colleagues and I have developed bonds of friendship with people in the company. It has always caught my a en on the work synchroniza on and equipment they have”. Yuly is in high school and wants to study medicine. She remembers the family par es she has a ended and she believes these celebra ons help foster a sense of belonging to the company.

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PERMANENT SUPPORT OF OUR PEOPLE TO CONALVÍAS

José Éver Ortega,

Grinding Plant Operator

“I would like to thank the company for the opportunity they have given to me for so many years. They are not easily found nowadays”

What at first was only an assistance to his brother who used to operate the grinding plant in Agremezclas, became a hiring that now completes 25 years filled with sa sfac ons and achievements. He is José Éver Ortega Waltero, born in Popayan, who par cipated in the assembly of the asphalt mix produc on plant in Puerto Tejada and currently operates the grinding machine with the same responsibility he has shown for the last 25 years of his life. During his experience in Conalvías, it has been evidenced that he is a man of great challenges. Together with Gustavo Valencia, current Coordinator of Plant Assembly, he par cipated in the deployment of the Puerto Tejada plant, which back at that me was managed by our current CEO, Mr. Andrés Jaramillo. He also par cipated in his capacity of Assistant to the Grinding Plant Operator in the 'La Unión Diversion' work (Valle del Cauca)', where he supervised a team. He worked there for a year and was subsequently transferred to Buenaventura as an operator of the Grinding Plant for access works to the said city, airport and 'La Bívora' and 'La Delfina' bridges. He states that he was so confident on his performance and skills that, in year 2002 he was trained to operate a Vibro Compactor at Cali works, under the supervision of engineer Oscar Revelo. Since late 2002 un l 2003, he was opera ng the grinding and asphalt plants that

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Conalvías had in Citronela, jurisdic on of Buenaventura, where gravel was produced for the Premezclados company. A er returning from Agremezclas, José Éver had to re re for one year due to the closing of traffic for heavy-duty vehicles along the bridge over the Cauca river, which forced the plant to stop its opera ons. However, few months later he was hired by Conalvías to operate the grinding plant in Soacha, which supplied material for the work sites along NQS highway and Patria clients. In year 2005 he returned to the Puerto Tejada plant to produce the material for the works of the mass transporta on system of Cali - "MIO", making him put down roots in this municipality, where he currently lives with his son, Camilo José, who is 18 years old. José Ever wishes to thank for all the support, trust, knowledge and experience he has gained in Conalvías. Nowadays, he works under an unlimited term employment contract and cherishes all the benefits and stability that the company offers, as thanks to that, he has been able to provide for his son and pay his high school. Camilo states that thanks to his dad's job, their quality of life at financial and personal levels has improved. He wants to study modern languages and for that reason, he and his dad have been thinking about the possibility of applying to the University of Cauca, University of Valle or the Autónoma University.


PERMANENT SUPPORT OF OUR PEOPLE TO CONALVÍAS

Marco Aurelio Guaca,

a synonym of commitment and strength “Staying together as a family in spite of temporary absences in 24 years of work. A true example of the saying "where there is a will there is a way".

Marco Aurelio, from his family's view: María del Carmen Salamanca Even though Marco has not been able to spend me at home due to his work, he is an excellent father. For her, his husband is a 'hero'. She even states that it looks as though he was just hired by the company for his energy and his sense of belonging. In her memory she s ll remembers the names of his work colleagues, engineers, administra ve personnel, secretaries... in short, of everyone in the company who has had anything to do with her family during the 24 years his husband has worked for Conalvías. Catherine Guaca

Speaking of Conalvías history is talking about Marco Aurelio Guaca, operator of heavy duty machinery, who has been working for Conalvías for 25 years opera ng different pieces of equipment. Born in the municipality of Bolívar - Cauca, Marco Aurelio - or simply Guaca, as he is known in all the places where he has worked - started off his working life opera ng machinery for great companies such as Cerrejón and the Caño Limón Coveñas pipeline. Thanks to his extensive experience, he was hired by engineer César Jaramillo himself to operate 'La Pajarita' in the projects that would give birth to what Conalvías is nowadays. By opera ng that machine, he showed he was des ned for great things and so was the company that makes him feel proud. So is evidenced by the tens of thousands of projects he has par cipated in, such as those in Cali, Tuluá, Ansermanuevo, Mesa de Yeguas, Argelia, Buenaventura,

Medellín, Bogotá, Zipaquirá, Armenia, Cartago and Soatá (Boyacá), to name a few. Conalvías has a very important place in the life of this 63 year old man, because while working for this organiza on he has traveled to many municipali es and has accumulated countless experiences that make of him an example to follow by many of his colleagues, He has also had the possibility to form a family, which is his reason to be a be er man. “The greatest teaching that I can pass to an operator who is just tar ng his cycle is that we have to look a er the equipment we work with, treat them carefully because these enable us to complete our tasks”, he said. Currently, Marco Aurelio is in sick leave, but he has had the support of his different bosses, like engineers Luis Suárez, Oscar Medina and Nelson Cortés, who respect him for his work skills, leadership and commitment.

24 years old, feels thrilled whenever she hears anything about Conalvías. She remembers that when she was just a girl, her father took her to some of the work sites and put a safety helmet on her head. On that day, she decided to study industrial engineering and so she did - with a lot of effort. Nowadays, she proudly works as a professional managing costrelated ma ers in another construc on company. She knows, however, that behind those numbers, there are men like her father who work in risky jobs, which demand a lot of physical effort and a lot of training. For her, what ma ers the most is the treatment toward each worker. Natalia Guaca Unlike her sister, she did not follow a career in construc on. However, she recognizes the work of those people who, just like her father, are capable of transforming the geography.

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PERMANENT SUPPORT OF OUR PEOPLE TO CONALVÍAS

“The story of Conalvías has been wri en with my hand”,

Carlos Alberto Peñaloza Dedicated, goal-oriented and commi ed are but a few of the quali es that characterize Carlos Alberto Peñaloza, Work Inspector at our Cali regional branch, who has now completed 24 years of services for Conalvías.

Carlos, from his family's view: Margarita Fernández

Peña, as his friends and colleagues call him, remembers his entry to Conalvías through a friend who contacted him in his howetown Armenia and proposed him to move to Cali to work in a company that was gaining ground in this region and in which a number of different engineers from his town were already working. So he packed up three changes of clothes and headed to the capital city of Valle del Cauca, a city he already feels he belongs to. “By then, the company had been present and working for ten years. They were demanding with work, as they have always been. You could hear orders being given through radio transmi ers all day long”, he remembers. In these 24 years of work, Carlos has witnessed the growth of the company, where he has spent half of his life. He believes the vision of CEO Andrés Jaramillo to expand the company into the market of Bogotá was a right decision. Some of his colleagues, such as Victor Cardenas and César Ramírez, moved to this city. He believes he has gained countless amount of knowledge in Conalvías. He has been involved in almost every project that the company has

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undertaken in the Colombian south-west region, from restructuring family housing, routes of the mass transporta on system and major works. In 2002, he par cipated in the construc on of the NQS highway in Bogotá and for that reason, he had to move and leave his family and, in par cular, his young children. In this project he became acquainted with digital ma ers, as back then the only computer in the work site was handled by the person in-charge of administra ve du es. “We used to do everything by hand: work minutes, forms for the payment of master builders…”, he says. He feels sa sfied for the accomplished duty. However, he misses the good old friends that no longer work for the company, who would change the atmosphere and would bring a sense of belonging to the workplace. He remembers they were good savers. “I have brought my strength and the company has, in turn, rewarded me in so many benefits and ways. Conalvías pays on me, it has always been like that, is one of the characteris cs of the company. You can even take up on obliga ons before payday. We feel proud of that”.

his wife, works as a teacher for the SENA and says that Carlos Alberto feels confident because he works for a good company. Such confidence makes the home vibes good and promotes the family's emo onal stability. If the company is responsible for its workers, employees work with enthusiasm. He is fond of the company and that is because everything is posi ve. He sees Conalvías as his family. He says that being away from his family when he moved to Bogotá was a hard me for all of them, but working in the SENA made him feel equilibrated again. Carlos Andrés his older son, has fond memories of the mes when his dad used to take him to some work sites where he was working and believes this influenced him to choose his career: Architecture. He says his father has learned and developed his sense of responsibility and he believes this is a value that all people should have. He says that Conalvías is a very good company with na onal and interna onal presence. Cinthia his younger child, is in second semester of medicine. She feels her dad is very comfortable doing his job at the company, carrying-out works that mean so much for the development and structure of the city. “Seeing the works where my dad has par cipated materialized is something that makes us feel proud”.


PERMANENT SUPPORT OF OUR PEOPLE TO CONALVÍAS

Diego Fernando Alzate

an example of self-improvement Diego Fernando is a living example of the saying: "where there's a will, there's a way". He started working 22 years ago as a messenger for the former Jaramillo Ingenieros, running errands and carrying out other ac vi es even when offices were located in the Granada neighborhood, north of the city of Cali. Today, two decades later, he is a fundamental piece in the accoun ng and financial strategy of Conalvías Business Group.

His home, formed eleven years ago, is formed by Catherine Franky who is his wife and his daughter María Fernanda, who is 9.

However, this growth has not been fortuitous. During these 22 years of uninterrupted work, he has ra fied the trust his supervisors have placed on him: In the first few years he achieved to manage the responsibili es of the posi on of Cash Assistant and subsequently, as Work site Clerical Assistant, posi on offered by the then General Manager of the Company, Dr. Andrés Jaramillo, he was able to see the construc on dynamics up close.

He remembers that for this purpose, he had the support of Dr. Ana Cris na Vidal, back then Accoun ng and Financial Director and he was assigned to travel across the country and to the branches of Perú and Panamá to train users. Thanks to his vast knowledge and exper se acquired with Uno E, he undertook the posi on of Administra ve Assistant of Applica ons, which he con nued to hold with the implementa on of SAP on January 1st, 2014.

He then con nued to perform the du es in that posi on and becoming known and respected in works such as Cañas Gordas avenue, which linked the municipali es of Cali and Jamundi, the bridge over the Avenida 80 and the one at Carrera 82 and Calle 73, the construc on of Circunvalar Avenue, La Alambrada Plant in Armenia, not to men on the works at the Agremezclas plant.

According to Diego, he feels pleased with his work trajectory and the opportunity that he has had to grow as a person and as a professional. As an immediate goal, he plans to complete his studies in Economics, which he had suspended in fi h semester and for which he had the financial support of the company, which paid a high percentage of the enrollment fee.

Thanks to the quality of his work, he was also assigned the du es of Head of Human Resources a n d sta r n g 2 0 0 4 , h e wo r ke d i n t h e i m p l e m e nta o n o f t h e U n o E nte r p r i s e accoun ng so ware, which enabled the integrata on of the informa on generated by the areas of Finance, Logis cs, Distribu on, Inventories, Procurement, Sales, Human Resources and Produc on.

“I like my work du es, I feel happy in the company and I don't need to look for a job anywhere else. I have an unlimited-term employment contract, I receive benefits such as pre-paid medicine, life insurance, funeral policy, bonuses and in addi on, I learn from the experience of my colleagues, he states.

Catherine says he is a devoted husband and father, he is a commi ed hardworker even to the point that the takes work home with him because he knows that his internal clients are not only in the offices in Colombia, but also in other countries where Conalvías is present and he wants to be available when his services are required. She feels happy to have the support and stability of Diego in Conalvías; “Thanks to this, we have been able to have our home refurbished, a beau ful, comfortable two-story house. We have been able to provide a good schooling to María Fernanda and we have enjoyed mes of leisure not only between us but also with the families of other workers. I have been able to promote my ac vity of sale of cra works that I and a friend carry out and we have been thinking about some other business ideas to earn other income”. Likewise, she proudly says that his dad, Mr. José Hoover Franky is also part of our family in Conalvías, working as a truck driver for Conalvías Equipment. The three of them would like to thank the company. They are aware they have been able to achieve so much thanks to this wonderful opportunity.

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PERMANENT SUPPORT OF OUR PEOPLE TO CONALVÍAS

Carlos Humberto Rodríguez, “Doormen at Cali offices have been the faces of Conalvías to all visitors for 18 years… and we have stood out for our good customer service”

Carlos Humberto, from his family's view: Miryam

Warm, close, commi ed and dependable are but a few of the characteris cs that describe Carlos Humberto Rodríguez, a Caleño passionate for cycling and electronics, who has been working for 18 years as the person in-charge of security in the building and of the people working in the head offices of Conalvías in Cali. Carlitos - as employees call him - is perhaps one of the most visible members of the regional branch not only because he is the first person that officers and suppliers see when arriving to the building located in the Bolivariano neighborhood, but also for the quality of service he provides, his dependability when carrying out his du es and his affability. He proudly remembers the me when he began work as Janitor for Conalvías, back when the building only had eight months built. Since then, he has witnessed the growth of the organiza on, its expansion to Bogotá, Perú and Panamá; as well as the tough mes the company has gone through, such as when only nine workers kept their jobs at the regional branch, including the three doormen. However, Carlos says, the vision of CEO Andrés Jaramillo has been decisive in the strategy of growth and posi oning in the market of construc on, as one of the best companies in the infrastructure sector of the country, above mul na onals that used to hold the first place. However, what makes him feel proud the most is that, thanks to Conalvías, he has achieved to “raise” a family and paid the school for his two kids: Walter and Valeria, as well as suppor ng his wife Miryam in the business of automobile upholstery and one or another fix of appliances at their home, thanks to her knowledge of this discipline. “We have never had safety issues in the facili es, nor has the personnel, or the owners or work colleagues been exposed to any risk. We have never seen criminal ac vity, therefore, we have not needed to hire security services. We are respec ul to the personnel; use a polite and cordial language in our rela onships with everyone and our performance assessment has always been high. Our behavior has been unexcep onable, this is our reward towards the company for so many benefits we have received from it. I would like to thank Conalvías because of the extra bonus we earn, this is a privilege”, Carlos Humberto says.

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is a hard-working woman and says that in addi on to the work stability that Conalvías has provided to her husband, the company has supported her since year 1999 as she has provided her upholstery services for the vehicles, machinery and the other automo ve fleet of the company, with the assistance of the whole family. Walter his older son is now in high school and wishes to study a technical program in mechanics and follow a career in the Na onal Police later on. He believes the work his father does has been an important contribu on for his sister's educa on at the Santa Isabel de Hungría school. Listening to him talking about Conalvías, its works and countries where it is present, is a faithful reflec on of what their father has proudly shared with them, the informa on we share at internal level in the company. Valeria who is only 15, says with certainty that “Conalvías is a good company, its works are the best ones”. Despite being in 9th year of high school, she has already defined her vision to study Criminology and knows that with the support or her parents, she will achieve her goal.


PERMANENT SUPPORT OF OUR PEOPLE TO CONALVÍAS

Jesús Pechené,

watchman at Cali regional

“I have to say that in these 18 years I have worked for the company, my family has lacked nothing. I am really thankful”

Many things have happened in the life of Jesús Efrén Pechené during these last 18 years he has been working as a Watchman of the building of our Cali regional branch: He formed a family, raised his two children and bought a house. Born in the municipality of Piendamó - Cauca, but residing in the "heaven branch office" for over two decades, he has witnessed the growth of the organiza on in the civil engineering construc on market. He feels very proud of the organiza on, not only for the safety this growth represents to him and his family, but also because he believes his work has contributed to the fulfillment of these achievements. “I personally admire Mr. Andrés Jaramillo because he has sustained this company through very though mes, as in year 2002. Those were very hard moments, but he managed to sustain the organiza on and its employees”, he said. His wife María Herminia and his two children, Andrés Camilo and Sonia, depend on his work. Jesús has been able to give love, educa on and housing to his family. Using his severance payment and with the support of Fincon, he was able to buy his own house. One of the happiest mes of his life was the celebra on of the 25th anniversary, in which the employees a ended with their families, as well as the celebra ons of the Family Day.

Jesús from his family's view: María Herminia says that his work stability for 18 years has reassured them and they have not had the need of looking for a new job or a new company to work. She defines Jesús as a disciplined worker who administers the family income very well, alloca ng the money for the loan repayments and for the house expenses. She says it was a good choice to stop living in a rented house and, instead, repay the loan for a property that they own. Andrés Camilo, his older son and 18 years old, is in the senior year of high school and wishes to become a graphic designer due to his drawing and design skills. He is planning to apply to the University of Valle and the Antonio Nariño University. He remembers when he used to bring hid dad's lunch in his bike to his dad's work and there he met very friendly colleagues of his dad, who were warm and said hi and goodbye to him. “All those li le things made me understand that I must be a responsible person, move forward and reward the efforts that my dad has made“. Sonia Isabel, is in 9th grade of high school and wants to be a Psychologist; she is very thankful to her dad. “we depend on him and he provides for what we need. He has a fair, formal work and he does not need to be out in the streets looking for something to do. Conalvías is one of the best companies in Valle and pays its employees on me”.

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PERMANENT SUPPORT OF OUR PEOPLE TO CONALVÍAS

Raúl Zambrano,

an example of life

When Raúl Zambrano went to the job interview, he did not know he was going to sign such a long contract. To the present me, with some gray hairs he did not have back at that first interview, Raúl has completed 18 years of uninterrupted work at the janitor's office of Conalvías building, located in the Bolivariano neighborhood, north of Cali.

Married to Gina Patricia Valderrama and father to Johan Camilo (18 years) and Estefany (9 years), Raúl has not stopped "wearing Conalvías name with pride". This is illustrated by how he keeps each of the magazines the company has issued in his home as a treasure, such as the publica on for the celebra on of the 25th anniversary, as well as an issue of Conalvías up to date magazine of year 2008, in which an acknowledgment for his services was included. According to Raúl, thanks to Conalvías, his main dream has come true: to give a house to his family. Thanks to this work stability, in addi on to his savings skills, he had the chance of a ending a housing fair arranged by the Comfandi Compensa on Fund, he withdrew his severance payment and took a loan from a bank which, due to his occupa onal profile, was accepted immediately. He will repay the full loan amount in 2017. He remembers that it was a single-room house. With the bonuses and savings he earned, he refurbished it and even built a second floor, which he rented and he is repaying the loan with the money from that rental. “A er 18 years with the company, I would like to highlight the way engineer César Jaramillo founded it. It was hard but he managed to move forward with it and I admire him for his endeavors. Nowadays, the company is on solid ground”, he says. He expects to con nue to serve the company where he has worked for so long. He trusts his work will help the organiza on stay for another 35 years.

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Raúl, from his family's view: Johan his older son, was born when Raúl began work at the company. He is studying to become a Systems Assistant in a private ins tu on in the city of Cali but dreams of becoming a Systems Engineer in the future. He says his dad's work stability has enabled them to study and to move ahead with their purposes. He admires him for being a responsible and suppor ve father. He says proudly that he has no complaints about him. “I see him as an example, he always takes care of the home and us his children, he has brought us up well, he moves forward with us. He is my guide and I feel I am a good person as he is”. Estefany is the youngest lady in the house, she is only nine. She studies in a school north of the city. Gina Patricia feels thankful for his husband's work and the growth they have experienced. With his support, she set up a general store in their own house and serves the neighbors in the area where they live 'Solares de Comfandi'. She also provides for the home expenses with the earning from this business, which also makes her feel produc ve. She also thanks Conalvías for the family integra on ac vi es it has arranged, such as the Family Day and Halloween celebra on, because those events have enabled her to meet the work colleagues of her husband and their families.


Our people, our biggest mo va on The love, enthusiasm and commitment is what pushes us forward in Conalvías. Our people mo vate us to con nue to add up eorts to turn our company into more than that, to make of it a true family.


Work team - Bogotá Calle 94

Conalvías Equipment

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Conalvías Panamá Conalvías Construcciones - Panamá branch joyfully joined us to celebrate these 35 years of trajectory in the construc on of road infrastructure works in Colombia and other countries like Perú, Panamá and, recently, the United States. These have been 35 years of carrying out works that contribute to the development of these countries and the welfare of the community, always in line with the logo that characterizes us and that we expect to maintain over me, "Good works speak for themselves". Only teams that are able to keep going through the ages in spite of obstacles know how to move on with perseverance and discipline; thinking big, figh ng as a team to reach proposed goals enabling growth while contribu ng to the well-being of many families that nowadays are part of this important business group: CONALVÍAS INVERSIONES. ¡Happy anniversary from CONALVÍAS CONSTRUCCIONES, PANAMÁ BRANCH!

Conalvías Perú Because a team has always in mind great projects and has a strength that only grows step by step, because the good values in our work are rewarded with one year more of successes. Amid the congratula ons, hugs, compliments and applauses that the company received in this day, the Perú Branch wishes to join celebra on because we are part of this family and we also feel happy to be able to celebrate one more anniversary. We feel proud to belong to a leading company, which always think first of people, resources and and its future. Congratula ons and let us con nue to walk along this good way.

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Conalvías Estados Unidos We are wishing Conalvías a very Happy 35th Anniversary. Conalvías USA, LLC is proud to be part of the Conalvías family who for the past 35 years has managed unprecedented growth, and strength not in only Colombia but in Perú, Panamá and in just the 5 years here in the USA. Even though other companies have not succeeded through some very difficult mes in the world economy, Conalvías has managed to con nue growing. Its con nued growth is due to Conalvías management structure, its vast knowledge and experience in the industry, but more importantly it's because of Conalvías' most valuable asset, its employees and how the company cares for them. We join the rest of the proud members of the Conalvías family in wishing the company many more achievements and celebra ons for years to come.

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TESTIMONIALS OF OUR STRATEGIC ALLIES

Conalvías: 35 años materializando sueños en las regiones, comunicando territorios y dejando en alto la ingeniería colombiana.

Grupo

¡FELICIDADES!

TESTIMONIALS OF OUR STRATEGIC ALLIES

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TESTIMONIALS OF OUR STRATEGIC ALLIES

FELICITA a CONALVÍAS por sus 35 años construyendo vías de progreso en nuestra región. Esperamos seguir siendo testigos de sus logros. AGOSTO 2015

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TESTIMONIALS OF OUR STRATEGIC ALLIES

Se une a la celebraci贸n del 35掳 Aniversario

conalvlas Construcciones

Es nuestro deseo que sigan creciendo y contribuyendo al desarrollo de un mejor pais.

ANDINA

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G E O T E C N I A

A N D IN A


TESTIMONIALS OF OUR STRATEGIC ALLIES

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TESTIMONIALS OF OUR STRATEGIC ALLIES

Nos unimos a la celebración de Conalvías, 35 años entregando obras que hablan por sí solas.

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TESTIMONIALS OF OUR STRATEGIC ALLIES

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Conalvias  

Conalvias USA, has a proven track record of a number of successfully completed projects in Florida. Led by a vice president with more than 2...

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