BANCOLOMBIA : ANNOUNCES THE DESIGNATION OF VICEPRESIDENTS

Medellin, Colombia, April 25, 2016

The Board of Directors of Bancolombia in a meeting held today, made the following designations:

• Jaime Alberto Villegas as Vice President of Innovation and Digital Transformation. Jaime Alberto, who has been in charge of the Customer Services Vice-Presidency since 2012, received an industrial engineering degree from Universidad de los Andes and a postgraduate degree in finance from the same University. He has worked in the financial, operations and technology department of financial institutions as Standard Chartered Bank, in Colombia, Peru, United Arab Emirates and Singapore. He replaces Juan Carlos Mora, who will assume the Presidency of the Bank starting on May 1.

• Jorge Ivan Otalvaro as Vice President of Customer Services. Jorge Ivan, who has been in charge of the Administrative Services Vice-presidency since 2011, received a business administration degree from Universidad Eafit, an Executive MBA from Instituto de Empresa Business School of Madrid and has also studied at Universidad de los Andes, Kellogg and Harvard. In his experience at Grupo Bancolombia, he has worked in the areas of merchandising, products, alternative channels, technology, corporate security and supplies and logistics, among others.

• Mauricio Botero Wolff as [Corporate Procedures] Vice-president. Mauricio, who was in charge of the Corporate Projects Office, received an administrative engineering degree from Escuela de Ingenieria de Antioquia, an economics post-graduate degree from Universidad de los Andes, an MBA from Emory University and has also studied at New York University (NYU). In his experience at the Grupo Bancolombia he has been part of planning and projects matters, acquisitions integration, investor relations and money market, among others.