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Corporate

Presentation

Grupo SURA

November 2023

This document may contain forward-looking statements

related to Grupo SURA and its subsidiaries, which have

been made under assumptions and estimates of the

management of the Companies and may present

variations.

For a better illustration and decision making, the figures

are administrative and not accounting, for this reason they

may differ from those presented by official entities. Grupo

de Inversiones Suramericana assumes no obligation to

update or correct the information contained in this

DISCLAIMER

presentation.

are converted at an exchange rate of 4,054 COP/USD (at

Income Statement figures are converted at an exchange

rate of 4,411 COP/USD (average of 3Q 2023), other figures

the end of 3Q 2023), only for the purpose of restatement.

Variations are calculated based on figures in Colombian

pesos.

Grupo SURA

Preserving the way we do business and value creation

1990 / 2007

2017 / 2022

1944 / 1990

2007 / 2016

FOOTPRINT OPTIMIZATION

LEADERSHIP IN INSURANCE

FINANCIAL SERVICES

INTERNATIONAL EXPANSION

Organic growth: ~ USD 3.8 bn (Increased revenues

2017 - 2023 LTM to 3Q23)

in Colombia

Leader in Colombia

Multi Latin, financial services Group

• Increased profitability

CROSS-EQUITY HOLDINGS

STRUCTURE SIMPLIFICATION

Acquisitions ~ USD +8.8 billion*

• Non-strategic divestitures: ~ USD 692 millions

With companies with aligned

to have a greater focus:

principles and vision

Non-strategic assets

20.8% in 2002 to 5.2% in 2008

2023 +

Advance in the evolution of Grupo SURA's ownership structure and

the focus of the investment portfolio on financial services.

For more than 79 years we have contributed to the construction of public value, both with our business activity and with the institutional strengthening and contribution to the public dynamics in the territories where we are present

44

Showing positive evolution since 2014 and opportunities for future growth.

CAGR2

#3 INSURANCE GROUP OF LATAM ORIGIN

Premiums1

+18.1%

USD 7 Bn

81.1%

Life, P&C and Health

#1 PENSION FUND IN LATAM

AUM

+10.3%

USD 159 Bn

83.6%

with voluntary savings business

LEADING BANK IN THE REGION

Assets

+9.7%

USD 83 Bn

46.2% | 24.5%

#1 in Colombia

INFRASTRUCTURE HOLDING IN AMERICA

Revenues1

+10.9%

USD 5 Bn

44% | 33%4

Cement, concessions and energy

Participación acciones ordinarias

Participación acciones totales

  1. Last twelve months as of 3Q23
  2. Compound annual growth from 2014 to September 2023
  3. Controlling net income for the last twelve months adjusting for the deferred tax of the Nutresa transaction for USD 140 million
  4. Illustrative exercise assuming that of the 10.1% to be contributed, 5.0% is contributed by other shareholders participating in the exchange and 5.1% is purchased in cash and contributed by Grupo SURA and Grupo Argos. With the prior authorization of the SFC, part of the restitutions corresponding to Grupo SURA and Grupo Argos will be contributed to autonomous patrimonies in which the exercise of voting rights will be suspended. Therefore, control situations will not be configured.

Cifras consolidadas

Grupo SURA

Revenues1

8.1 Bn

CAGR +15.5%2

Controlling Net Income 3

553 MM

CAGR +6.3%2

Controlling Equity

8.2Bn

CAGR +3.3%2

55

Strategy

G r u p o S U R A

INVESTMENT

W h o w e a r e ?

MANAGER

We are an investment manager

SUSTAINABLE

W h a t d o w e w a n t ?

PROFITABILITY

Sustainable profitability

Generación

Harmonious development

de valor

of society

H a r m o n i o u s c a p i t a l m a n a g e m e n t

Economic Natural

Human

Social

H o w d o w e d i f f e r e n t i a t e ?

OWN APPLIED KNOW-HOW

Through our own applied knowledge

Latin America

Aggregate view of our portfolio

Financial and related services

Best management practices

STRATEGIC PILLARS

W h a t a r e w e l e v e r a g i n g ?

In our

strategic pillars

Communication and

Financial

Risk

relationship with

Applied research

management

management

the environment

Human

talent

6

OUR CORPORATE PRINCIPLES

RESPONSABILITY

FAIRNESS

TRANSPARENCY

RESPECT

SURA AM

Investment Manager with the strategic objective of obtaining

Sustainable Returns.

Financial services footprint

COUNTRIES1

10

CLIENTS1

+ 73 MM

EMPLOYEES1

+ 60K

DIVIDEND SHARE BY

SHARE OF DIVIDENDS

COMPANY LAST 10 YEAR

BY COUNTRY 20232

Grupo Argos

Peru USA Others

8%

Sura AM

Nutresa

3%

3%

9%

34%

11%

Chile

6%

Panama

Suramericana

7%

14%

Mexico

Colombia

Bancolombia

12%

60%

33%

Shareholders3

Other

shareholders

~70%3 | 51%3

~30%3 | 49%3

Risk Rating

Local: Fitch AAA

International: Fitch y S&P BB+

1 Figures grouping the financial companies in the portfolio: Suramericana, Sura Asset Management and Grupo Bancolombia

2 Pro forma figures: Expected dividends for 2023 adjusted: 1) excluding Nutresa dividends and 2) higher stake in Grupo Argos due to a final post-transaction scenario (10.1% tender offer half in swap and half in cash) and subsequent liquidation of new portfolio company.

3 Same Tender Offer scenario as 2. With prior authorization from the SFC, part of the restitutions corresponding to Grupo SURA and Grupo Argos will be contributed to autonomous patrimonies in which the exercise of voting rights will be suspended. Therefore, control situations will not be configured.

7

Compound annual growth in equity was 19.4% since 2000.

Portfolio value

46 times

CAGR 19.0%

53%

72%

47%

28%

4.6

5.8

8.7

2.0

0.2

2000

2005

2010

2015

2022

Financial services

Industrial

Equity

52 times

CAGR 19.1%

2.2

4.4

5.6

7.8

0.1

2000

2005

2010

2015

Sept 2023

Net income

2000

2010

3Q23

-$9 MM

$155 MM

$553 MM

Net income per share

2000

2010

3Q23

-$0.04 /share

$0.33 / share

$0.95 / share

Book value per share

2000

2010

3Q23

$0.50 / share

$8.66 / share

$12.42 / share

25 times

CAGR 15.4%

Source: Grupo SURA Annual Reports and Capital IQ. September 2023 figures do not include deferred tax of USD $140 million.

88

Figures in USD billion except per share figures. Valuation methodologies and multiples have varied over the years.

Leveraged by improved investment portfolio performance

11.0%

9.7%

9.9%

9.1%

8.5%

7.9%

2.0%

2017

2018

2019

2020

2021

2022

Sept 2023 LTM

Adjusted ROE

*ROE adjusted by; 1) The amortization of intangibles resulting from acquisitions is added to net income 2) In the equity, the valuations of associates and cross-shareholdings between Grupo Argos and Grupo SURA are excluded in order to compare the figures of equity and net income 3) For the calculation of this year's indicator, the deferred tax for the Nutresa transaction (COP 618 billion), the impacts of Argentina and El Salvador (COP 85 billion) are added. 4) As of this quarter, the Nutresa investment is excluded from equity since the equity method is not being recognized.

9

Accompanied by portfolio diversification and increased contribution from financial services companies

93

62

14%

14%

12%

20%

27%

13%

8%

13%

54%

39%

105

14%

11%

21%

17%

37%

136

11%

9%

35%

12%

32%

Received dividends by Grupo SURA USD millions

2011 - 2023E

6.1x

CAGR 16%

255

238

235

216

13%

202

10%

9%

186

8%

177

8%

8%

8%

10%

7%

152

11%

9%

8%

29%

25%

8%

9%

44%

17%

52%

36%

4%

44%

41%

17%

3%

34%

12%

11%

16%

17%

16%

50%

29%

27%

23%

31%

22%

23%

36%

17%

378

12%

8%

18%

13%

48%

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023E

Bancolombia

Suramericana

Sura AM

Grupo Argos

Nutresa

Source: Grupo SURA. Figures in USD millions at 3Q23 exchange rate.

10

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Disclaimer

Grupo de Inversiones Suramericana SA published this content on 26 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 December 2023 16:23:43 UTC.