A Leading Manufacturer of Architectural Glass and Windows

Serving the Global Residential and Commercial Construction Industries

May 2015
(Nasdaq: TGLS; OTCBB: TGLSW)

Jose Manuel Daes Abuchaibe President at ES Windows LLC.

Chief Executive Officer at Tecnoglass. Committed with
Corporate Social Responsibility and Environmental
Sustainability.

Safe Harbor
FORWARD LOOKING STATEMENTS
This presentation includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform
Act of 1995, including statements regarding future financial performance, future growth and future acquisitions. These
statements are based on Tecnoglasss current expectations or beliefs and are subject to uncertainty and changes in
circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in
economic, business, competitive and/or regulatory factors, and other risks and uncertainties affecting the operation of
Tecnoglass business. These risks, uncertainties and contingencies are indicated from time to time in Tecnoglass filings with the
Securities and Exchange Commission. The information set forth herein should be read in light of such risks. Further, investors
should keep in mind that Tecnoglass financial results in any particular period may not be indicative of future results. Tecnoglass
is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a
result of new information, future events, changes in assumptions or otherwise.

FINANCIAL PRESENTATION
Certain of the financial information contained herein is unaudited and does not conform to SEC Regulation S-X. Furthermore, it
includes EBITDA (earnings before interest, taxes depreciation and amortization) which is a non-GAAP financial measure as
defined by Regulation G promulgated by the SEC under the Securities Act of 1933, as amended. Accordingly, such information
may be materially different when presented in Tecnoglasss filings with the Securities and Exchange Commission. Tecnoglass
believes that the presentation of this non-GAAP financial measure provides information that is useful to investors as it indicates
more clearly the ability of Tecnoglass to meet capital expenditures and working capital requirements and otherwise meet its
obligations as they become due. EBITDA was derived by taking earnings before interest, taxes, depreciation and amortization as
adjusted for certain one-time non-recurring items and exclusions.

Investment Highlights: 30-year History of Quality, Innovation,

and Service
#1 architectural glass transformation company in
Latin America; second largest glass fabricator serving the
U.S. in 2014 (Glass magazine)
800+ customers in North, Central and South America
Growing U.S. presence, representing ~51% of total 2014 sales
and ~61% of Q1 2015 total sales
Record 2014 revenue and Adjusted EBITDA; significant growth
forecast for 2015 and 2016

Strategic, cost-effective location in Barranquilla, Colombia

Invested / committed ~$95 M to expand manufacturing
capacity, reduce costs, and improve efficiencies
Organic growth and market consolidation via acquisitions
Plans to initiate regular quarterly dividend of $0.125 per share
Christian Daes Abuchaibe founder of Tecnoglass

Global Customer Base: Hi-Spec Products for Premier Properties

South Dade Miami

Cultural Arts Center
(Miami, FL)

4 Waterway Square
(The Woodlands, TX)

50 UN Plaza
(New York City)

Lincoln Center
(Miami, FL)

Fordham University
(New York City)

The Edge
(West Palm Beach, FL)
4

Global Customer Base: Hi-Spec Products for Premier Properties

OPM
(Argentina)

Forum II
(Costa Rica)

Hotel Marriott
(Aruba)

Trump Tower
(Panama)

Aeropuerto El Dorado
(Bogota)

Hotel La Concha
(Puerto Rico)
5

Barranquilla: Manufacturing and Delivery Cost Advantages

Provide Significant Structural Competitive Advantages

Gross Profit / Margin

$ in MMs

Tecnoglass ships its

products from
Barranquilla to Miami
less expensively than
its competitors
ship from
Minneapolis to Miami

$56.1

$61.4

$34.9
30.2%

31.1%

$17.2

26.8%

2012

33.0%

2013

2014

Q1 2015

State-of-the-Art Assets, Talented Workforce

Tecnoglass
purchases prime
raw materials

Manufactures
various glass + aluminum
products

Products are
customized into
finished goods

Quick, on-time delivery to

global customers

Capacity Expansion: Responding to Improving Global Outlook for

Architectural Glass and Aluminum

Target ~ 50% increase in manufacturing capacity

Aluminum extrusion capacity to increase to
1,600 tons/month from 1,200 tons/month
Painted aluminum capacity +100%
Aluminum billet manufacturing capacity +100%
Laminated glass production capacity +20%

$40 M glass coating line

Places TGLS among a handful of manufacturers with
this capability
Will initially use ~15% of capacity; longer term,
$200 - $250 M in estimated sales at full capacity
$6 - $8 M in waste-related cost savings in the first year
Commence operations in Q3 2015

Strong Growth Profile:

Rising Revenues, Income, Adjusted EBITDA

($ in MMs)
$400

Revenues
$288

$300

$240
$183

$200

22%

C
A
G
R

53%

C
A
G
R

$197

$130
$100
$2012

2013

2014

2016E

Consolidated Net Income (1)

$40

$32.6

$30

$20.3
$20
$10

2015E

$22.3

$15
$6

$2012

2013

2014

2015E

Consolidated Adjusted EBITDA (1)

$100

2016E

$80 - $85

$80

$40
The Tecnoglass ESWindows Foundation was
created on July 18th, 2005 due to Tecnoglass and
Energia Solar S.A.s founders Jose Manuel Daes y Chistian Daes
interest in collaborating with the management of social projects
development projects.

C
A
38 - 40% G
R

$60

$60

$39

$48

$22

$20
$2012

2013

2014

2015E

2016E

9
(1)

Excludes gains / losses related to change in fair value of warrant liability

Global Revenue Profile:

Rising U.S. Sales

$4.4

$11.4

Rising demand in South Florida

Penetrating newer markets, including
Baltimore-Washington, California, New York,
New Jersey and Texas

2014
Revenues
$197.5 M

Initiatives underway to reach new markets,

including Europe, Far East, and Africa

$80.1
$101.6

Increased bonding capacity

Quality, service, manufacturing efficiencies

Colombia

U.S.

Panama

Other

Strategic Acquisitions

U.S Sales / % of Total Sales

$31.7
$26.0

$ in MMS

$12.4
31.2%

Q1 2013

$15.5

$17.7

$21.1

$21.9
45.7%

35.1%

Q2 2013

38.9%

39.2%

Q3 2013

Q4 2013

$26.8

Q1 2014

50.1%

50.2%

Q2 2014

Q3 2014

$26.9
60.8%

60.9%

Q4 2014

Q1 2015

10

Rising Backlog
($ in MMs; backlog at quarter end)

$350

$320

$300

$280

$250

$220

$200
$150

$120

$140

$132

Q1 2014

Q2 2014

$100
$50
$0
Q4 2013

Q3 2014

Q4 2014

Q1 2015
11

Consolidating South Florida Market

RC Aluminum Industries
o Selected assets acquired July 2014
o $70 M of South Florida backlog
o Miami-Dade NOA for 50+ products

Glasswall, LLC

o Industry veteran now leading

South Florida sales effort

o Selected assets acquired from

CMC Group in January 2015
o CMC Group has developed 10M + sq. ft.
of luxury properties in South Florida
o TGLS establishes U.S. base with
acquisition of warehouse /
manufacturing / office facility
o TGLS expected to supply windows and
doors for four upcoming CMC
properties

12

APPENDIX SLIDES

13

Financial Highlights
Financial Highlights
(in MMs, except per share data)

Q1
2015

Q1
2014

FY
2014

FY
2013

Total Revenues (1)

$ 52.0

$ 47.8

$ 197.5

$ 183.3

Gross Profit

$ 17.2

$ 14.6

$ 61.4

$ 55.4

Operating Income

$ 8.0

$ 7.9

$ 27.2

$ 27.3

Change in Fair Value of Warrant Liability

$ 5.1

$ (8.9)

$ (1.7)

$ 7.6

Non-operating Revenues (2)

$ 3.7

$ 1.3

$ 12.2

$ 4.0

Net Income

$ 9.9

$ (4.7)

$ 20.3

$ 22.3

Net Income per Diluted Share

$ 0.35

$ (0.19)

$ 0.73

$ 1.08

Adjusted EBITDA

$ 14.2

$ 11.1

$ 48.0

$ 38.5

Adjusted EBITDA Margin

27.3%

23.2%

24.3%

21.0%

(1) Revenues in 2014 /2015 reflect impact of depreciation of COP against the US Dollar

(2) Non-operating revenues primarily reflect gain in exchange rate derived from US Dollar-denominated receivables

14

Adjusted EBITDA Reconciliation

($ in 000s)

Depreciation

Adjusted
EBIT

Warrants
Liability

Interest
Expense

Tax
Provision

Net
Income

Net Income
w/o
Warrants

11,095

1,952

9,143

-8,880

1,973

2,971

-4,681

-4,199

Q1 2015

14,228

2,501

11,727

5,078

2,152

4,772

9,881

4,803

2013

38,506

7,238

31,268

- 7,626

7,886

8,696

22,312

14,686

2014

48,009

8,542

39,467

1,711

8,900

8,538

20,318

22,029

2015 (E)

60,000

12,400

47,600

12,600

12,700

22,300

22,300

2016 (E)

80,000

17,200

62,800

13,500

16,700

32,600

32,600

Adjusted
EBITDA

Q1 2014

15

Strong & Experienced Team

Name

Position

Jos M. Daes

Chief Executive Officer &

Director

Founder and CEO of C.I. Energia Solar E.S since 1990

Over 30 years experience starting and operating various businesses in

Chief Operating Officer

& Director

Founder and CEO of Tecnoglass S.A. since 1995

Responsible for all aspects of operations, marketing, sales and overall

Christian T. Daes

Joaqun F.
Fernndez

Chief Financial Officer

& Director

Biography Notes

Colombia and the U.S

expansion

CFO of Tecnoglass and ES since 2007

Director of ES since 2002
10+ years experience as U.S. financial executive, including 6 years as

Sergio Barake

Deputy CFO

Rodolfo Espinosa
Meola

President, C.I. Energia

Solar S.A.

Worldwide Director of Corporate Finance for global manufacturer

Fluent in English
BA, MS Universidad del Norte; MBA University of Maryland
Joined Tecnoglass in 2014

Attorney, specializing in business, tax and finance

9 years with Tecnoglass

16

Strong & Experienced Team

Name

Position

Omar Dominguez

National Sales Manager,

SA Tecnoglass

Jean Paolo Chemello

Karla Rodriguez Chain

Technical Manager,
C.I. Energia Solar S.A

Chief Operating Officer

C.I. Energia Solar S.A

Carlos Amin

Cargo Sales USA

Raul Casares

Sales Director for

South Florida

Biography Notes
32 years of industry experience, 19 with Tecnoglass

41 years of industry experience

23 years with Tecnoglass

15 years industry experience, all with Tecnoglass

10 years of industry experience, all with Tecnoglass

Founder and President of RC Aluminum

50 years of industry experience

17

Board of Directors
Name

Position

Age

Biography Notes
Chairman of the Board of Scientific Games Corporation (Oct. 1991

A. Lorne Weil

Samuel R. Azout

Non-Executive
Chairman of the Board

Director

66

54

Nov. 2013); CEO for all but ~24 months of that time
During his tenure, Scientific Games grew from under $50 million in
annualized revenue to ~ $2 billion

Investment Manager, Abacus Real Estate

Served as Senior Presidential Advisor for Social Prosperity
Served as CEO of National Agency for Overcoming Extreme Poverty in
Colombia

Juan Carlos
Vilario

Martha (Stormy)
L. Byorum

Director

Director

51

59

GM of various business consortiums in Colombia, including the Malla

Vial del Atlntico Consortium and the Barranquilla-Cinaga consortium

Founder and CEO, Cori Investmet Advisors

Former EVP, Stephens, Inc. & co-founder, VB&P
Former Chief of Staff and CFO for Citibanks Latin American Banking
Group, and former head of Citibanks U.S. Corporate Banking Business

Julio A. Torres

Director

46

Managing Director, Nexus Capital Partners

Former Director General of Public Credit and Treasury, Colombia
Ministry of Finance
Former Vice President, JPMorgan Chase Bank

18

Contacts

Jose Manuel Daes

Jos M. Daes
Chief Executive Officer
jdaes@energiasolarsa.com
Christian Daes
Chief Operating Officer
chris@tecnoglass.com
Sergio Barake
Deputy CFO
sbarake@tecnoglass.com

Devin Sullivan
Senior Vice President
(212) 836-9608
dsullivan@equityny.com
Kalle Ahl
Senior Associate
(212) 836-9614
kahl@equityny.com

A. Lorne Weil
Non-Executive Chairman
lorne.weil@tecnoglass.com
19