Grupo Aval Acciones y Valores S.A. ADR (Each representing 20 preferred shares)

Welcome to Grupo Aval's second quarter 2025 consolidated results conference call. My name is Regina, and I will be your operator for today's call. Grupo Aval Acciones y Valores SEA, Grupo Aval is an issuer of securities in Colombia and in the United States SEC. As such, it is subject to compliance with securities regulation in Colombia and applicable U.S. securities regulation. Grupo Aval is also subject to the inspection and supervision of the Superintendency of Finance as holding company of the Aval Financial Conglomerate. The consolidated financial information included in this document is presented in accordance with IFRS as currently issued by the IASB. Unconsolidated financial information of our subsidiaries in the Colombian banking system are presented in accordance with Colombian IFRS as reported the Superintendency of Finance Details of the calculations of non-IFRS measures, such as ROAA and ROAE, among others, are explained when required in this report. This report includes forward-looking statements. In some cases, you can identify these forward-looking statements by words such as may, will, should, expects, plans, anticipates, believes, estimates, predicts, potential, or continue, or the negative of these and other comparable words. Actual results and events may differ materially from those anticipated herein as a consequence of changes in general economic and business conditions, changes in interest and currency rates, and other risks described from time to time in our filings with the Registro Nacional de Valores y Emisores in the SEC. Recipients of this document are responsible for the assessment and use of the information provided herein. Matters described in this presentation and our knowledge of them may change extensively and materially over time, but we expressly disclaim any obligation to review, update, or correct the information provided in this report, including any forward-looking statements, and do not intend to provide any update for such material developments prior to our next earnings report. The content of this document and the figures included herein are intended to provide a summary of the subjects discussed rather than a comprehensive description. When applicable in this document, We refer to billions as thousands of millions. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. With us today are Ms. Maria Lorena Gutierrez-Bocero, Chief Executive Officer, Mr. Diego Solano, Chief Financial Officer, Ms. Paola Duren, Corporate VP of Sustainability and Strategic Projects, and Mr. Camilo Perez, Banco de Bogotá's Chief Economist. I will now turn the call over to Ms. Maria Lorena Gutierrez-Bocero, Chief Executive Officer. Ms. Maria Lorena Gutierrez-Bacero, you may begin.

Thank you very much. Good morning, everyone, and thank you for joining us for our second part of the 2025 conference call. I am here with Diego Solano, our CFO, Camilo Perez, Chief Economist of Banco de Bogota, and Paula Duran, Corporate VP of Sustainability and Strategy. During the first half of the year, we reached a net income of 856 billion pesos, 1.7 times higher than in the first half of 2024. Net income for the quarter was 494.9 billion pesos. The highest quarter in three years, growing 37% of the quarter, 142% over three years. Results of our banking segment continue consolidating positive trends in core business metrics. Our net interest margin reached the 4% level for the first time in three years, with our consolidated mean on loans at 4.5%. This level of mean on loans that we have in the third quarter of 2022. At that time, the average central bank is still at 8.83%, relative to this quarter's average of 9.33%. The cost of risk for the quarter was 1.7%, and the yields were for The lowest level since the first quarter of 2023. Growth growth grew 3.2% year-over-year, while deposits grew 6.8%. Long-growth dynamics have been tougher than we initially anticipated. However, activity has picked up in June and July. Our banks deployed plans to support the flow during the second half of the year, particularly in commercial loans, working closely with advanced banking industries. During the quarter, our investment portfolios performed well, driving an expansion in inbound investment. The performance of Forvenir's stabilization reserve positively contributes to this quarter's results. Now, regarding the progress of our strategic priorities, I'd like to highlight a few areas. Our banks have continued working on improving their deposit mix toward retail funding. The share of PESO-denominated deposits held by individuals improved during the quarter from 16.7% in the first quarter of this year to 18.2% in the second quarter of 2025. Regarding the payment business, we continue complementing our offer of products and services to individuals and companies through both payments. recently authorized by the Supreme Tendency of Finance as a low-value payment management entity, both for instant payments and traditional payments. This will allow us to accelerate the design and go to market to value other products for our current and potential customers. We are on the track to adopt, in breve, the central bank instant payment system when it starts operating in September. We have already been certified to use KIN in the centralized directory and in process to be certified by construction service. On the senior design efficiencies front, we conducted an analysis of the potential synergy between the processes of group of entities. As a result, The first wave of implementation will continue through the second half of this year, focusing on seven key areas. Procurement, talent attraction and selection, payroll management, property management, facility management, physical security, and physical challenge management. In the procurement front, we implemented the Procurement Synergy Center, six efficiencies, economies of scale, and a more competitive and sustainable value chain. This center will operate on an expanding base of 4.3 trillion pesos, 4,200 contracts, and 16,000 creditors. We expect to track capture efficiencies that will result in initial savings more than 10% of a 2.1 trillion pesos manageable spending day, and a reduction in contracting times of 40%. In target attraction and selection, we will deal with talent management centers which will allow us to attract the best students, accelerate onboarding processes, and promote internal mobility. As a significant milestone, next month we will launch a digital employment platform that will become the largest job opportunity portal in the country. Integral management centralization will not only generate operational efficiencies, but also allow us to deploy people analytics practices across the board. This will give us an integrated view of talent. facilitated identification of trends at the corporate level, and improved data-driven decision making. With this, we will be able to anticipate risks, such as talent attrition, risking and up-skilling needs, or drops in productivity, among others. This has already been implemented by Avai Valor Compatido for Banco de Bogotá, and will be rolled out during the new year to our other three column events. Now, I will invite Paola to go over our ESG achievements for this year.

Paola? Thank you, Maria Lorena. This quarter, Group 1 made significant progress in advancing our ESG agenda. We updated our double materiality assessment with input from 280 stakeholders, identifying 10 priority topics, including economic development, cybersecurity, innovation, sustainable finance, corporate governance, social impact, and climate change. Annual goals in these areas are now under review to ensure full alignment with our strategy. In terms of corporate governance, we had significant development. For the first time, we held a joint meeting with the boards of directors of Group of Life and its subsidiaries. The event brought together more than 130 directors for two days in May to address global and local challenges, share perspectives, and foster collaboration. A key milestone during the event was the launch of the Aval Board of Directors Guidelines, a guidance framework for good governance, setting principles regarding the roles of board members, effective and efficient board management, and board evaluations. We also updated our corporate policies, guidelines, and codes, aligning them with international standards and best practices in corporate policy. These updates reinforce our compliance with Colombia's regulatory framework and reaffirm our commitment to ethical transparency and sustainable management. They also send clear messages to our entities regarding the minimum standards expected in their ERG management. In environments, our entities advance in implementing the TCF supported by Global Cognosciency, ERM, in aid in progress, climate risk management, and target states. We also have standard sustainable mobility initiatives with over 5,700 employees adopting low-emission transport, avoiding 300 tons of CO2 emissions. In terms of social impact, we foster collaborative action in the municipality of Amaleno. Corte Colombiana and Organización Pajonal join efforts to promote sustainable tourism, education, and sports. While Banco de Bogotá, the financial education initiative, positively impacted nearly 500 community members. In addition, we continued delivering on our commitments under the Nición Aguajira initiative, with six new water purification plants, reaching a total of 81 communities now benefiting from social energy solutions. We also enabled free internet zones and announced new strategic partnerships with Colombia, providing free connectivity to over 70 communities, the government of La Guajira, National Seals Registry, and UNICEF, among others. This quarter, we participated in WeTrade, the largest diversity and inclusion fair in Latin America, offering more than 1,000 job opportunities and contributing to the academic agenda with the participation of leaders and HR teams from our institute. Our entities will also recognize some of the top 10 of the 2025 ranking of inclusive organizations in Latin America by the Chamber of Diversity. We remain committed to ensuring that ESG is not just a component of our strategy, but a driver of long-term value creation for our stakeholders. Thank you.