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

Welcome to Grupo Aval's fourth 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 S.A. 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 Avow 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 and 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. On November 27, 2025, Banco de Bogota's subsidiary, Multifinancial Holding Inc., MFG, entered into a share purchase agreement with BAC International Corporation, BIC, a subsidiary of BAC Holding International Corp., for the disposal of 99.57% of the issued and outstanding shares of Multifinancial Group Inc., MFG, the parent company of Multibank, Inc. For comparability purposes only, we have prepared and present supplemental unaudited pro forma financial information for the periods prior to 4Q25, which reflects the reclassification of the operations relating to MFG as non-current assets and liabilities held for sale and discontinued operations. This supplemental unaudited pro forma financial information does not intend to represent and should not be considered indicative of The results of operations or financial position that would have been achieved had the transaction occurred on the dates assumed, nor is it intended to project our results of operations or financial position for any future period or date. The pro forma financial information is unaudited and the completion of the external audit for the year end of December 31st, 2025 may result in adjustments to the unaudited pro forma financial information presented herein. 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 financial statements of Grupo Aval Acciones y Valores S.A., in accordance with Colombian regulations, must be filed with the market and with the Superintendency of Finance with the opinion of an external auditor. At the time of this quarterly call, this process is still ongoing. 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. I will now turn the call over to Ms. Maria Lorena Gutierrez-Potero, Chief Executive Officer. Ms. Maria Lorena Gutierrez-Potero, you may begin.

Thank you. Good morning, and thank you for joining Group 4 Awards for Quarter and Full Year 2020. 2025 Earnings Code. I'm so sorry, but I have a little flu, or a terrible flu, but I'm trying to, that you can understand me. I am joined today by Diego Solano, our Chief Financial Officer, Camilo Perez, Chief Economist at Banco de Bogota, and Paula Duran, Corporate Vice President of Sustainability and Strategic Projects. I would like to start by highlighting the positive evolution of our results during 2025. Despite the challenging and volatile local and global environments. We reached 1.7 trillion Colombian pesos in net income during 2025, a 70% increase compared to the previous year and more than twice that of 2023. This improvement was primarily driven by stronger contributions from our banking business and a record performance year by Expo Benito. Since our last call, we completed important milestones in line with our strategic focus to strengthen our strategic priorities. First, we completed the merger of our trust companies. Second, we reached an agreement to acquire Banco Itaúz-Colombia Retail Business. Third, we reached an agreement to divest MFG and fourth, Corfy has successfully completed transactions that will grow in business in the short term. On January 2nd, 2026, we successfully merged our fiduciary businesses from Fiduciaria Bogota, Fiduciaria Occidente, and Fiduciaria Popular into Aval Fiduciaria. This transaction consolidates our truck services into a single strong entity enhancing our value proposition for existing and new customers, and generating operational efficiency. We expect this to result in an increase of our market sharing trust fee, income, and AUMs, and improve the profitability of this business. On December 23rd, 2025, Banco de Bogota announced the acquisition of Banco Itaú with the banking business in Colombia and Panama. This move reinforces Banco de Bogota's focus on the affluent segment, enhances the quality of our client needs, and strengthens our competitive positioning in Colombia. The acquisition is expected to add around 267,000 clients with $6.5 trillion U.S. dollars in loans and $4.1 trillion U.S. dollars in deposits. The deal excludes Itaú's corporate banking and is pending regulatory approval. On November 27, Banco de Bogota announced that it has reached an agreement to sell MSG, a Panamanian bank tool back. That is the Central American back. This unit has delivered modest results since its acquisition in 2020 and requires a large scale to achieve the desired performance. The divestment of MFG strengthens PANCO's position to pursue a stronger growth in its core market and reallocate capital towards businesses with a stronger strategic alignment and long-term potential. The same process for this operation is expected to close over the following months, following regulatory approvals in Panama. This quarter, multi-financial groups, balance sheets, and P&L have been classified and discontinued operations. Corsi announced TWO MAJOR ACQUISITIONS. THE FIRST ONE, CORFIA ANNOUNCED THE AGREEMENT TO PARTICIPATE WITH A 51% STAKE IN CENCIA, THE CONFESSIONARY OF THE 20 YEAR, 29, SORRY, YEAR PUBLIC PARTNERSHIP FOR THE RENOVATION CONSTRUCTION OPERATION AND MAINTAINANCE OF BOGOTA NEMESIO CAMACHO STADIUM COMPLEX. CENCIA WILL DEVELOP A 2.4 trillion-dollar project includes a new 50,000-seat stadium, cultural and commercial components, public space development, and mobility solutions. In the energy and gas sector, Promigaz signed an agreement to acquire 100 percent of Celestra's renewable energy generation platform, reinforcing its transformation into a multi-energy platform with operations in Colombia, Chile, and Peru. This transaction adds a portfolio of more than 19 solar and storage projects, totaling 1.4 gigawatts of contracted capacity and over 2.1 gigawatts under development supporting diversification of non-regulated businesses and stable long-term contracted revenues, subject to regulatory approvals in Colombia. Results. From continued operation for the quarter, positive trends continue to consolidate during the quarter. Our risk-adjusted name on loans for the quarter is 2.3 0.34%, the highest level in three years, while our cost of risk continued its positive trend. Return on average equity came in slightly below our initial expectations, mainly due to a weaker than expected NEMON investment triggered by volatile local and international capital markets and the one-time effects related to the MFG sale agreement which Diego will explain in detail. I will now pass on to Paula, who will go over our sustainability achievements for the year. Paula.

Thank you, Maria Lorena. Good morning, everyone. In the fourth quarter, we close an extraordinary year for sustainability, further consolidating our ESG strategy. One World Profitability is built by integrating strong financial performance, measurable social impact, and responsible environmental management. Our framework is structured around three pillars, returns with purpose, opportunities for all, and environmental value. Under our first pillar, returns with purpose, we continue to scale sustainable finance. Our sustainable loan portfolio reached 44.9 trillion pesos, including 36.2 trillion pesos in social lending and 8.7 trillion pesos in green lending. Social lending included targeted credit lines for senior citizens, housing, women entrepreneurs, coffee growers, and microbusinesses. Green lending supported renewable energy, infrastructure, sustainable mobility, and water management projects, among others. In our investment portfolio, Mara Lorena already mentioned our agreement with Celestra that reinforces our commitment to clean energy. We also received important external recognitions. In the S&P Corporate Sustainability Assessment, we achieved a historic 481 out of 100 and were included in the S&P Sustainability Yearbook. Additionally, Banco de Bogota, Corte Colombiana, Banco de Occidente, and Promigaz were also included in the Yearbook, demonstrating the consistency and consolidation of our sustainability strategy across the group. In the MSCI assessment, we improved our rating to triple D, driven by strongly social impact metrics and enhanced responsible investment practice. On our second pillar, opportunities for all, this pillar focuses on generating inclusive growth and shared value. We calculated the total economic value generated and distributed, which reached 41 trillion pesos in 2025. And this value distributed to more than 31,000 suppliers that received Our 67,000 employees also earned 3.8 trillion pesos. We also paid 3.4 trillion pesos in taxes and generated 13 trillion in returns for our clients. Additionally, we have invested $70 billion in voluntary social programs benefiting more than 2 million people, focusing on community infrastructure, education and research, socioeconomic development, and the promotion of culture, arts, and sports. Through Misión La Guajira, the most significant private sector social initiative in Colombia, we fulfilled our commitment, benefiting more than 21,500 people across 80 communities with portable water, electricity, and connectivity. The program also included financial education initiatives and supported over 1,500 WAU artisans fostering sustainable life schools. We also supported the Vamos Palantes Scholarship Program, exceeding our fundraising goal and reaching 11.1 billion pesos, benefiting more than 1,200 students. On our third pillar, environmental balance, We joined the Partnership for Carbon Accounting Financials, CCAP, committing to measure and disclose emissions associated with our financial activities. We also launched our nature strategy, aligned with the NFC, and began pilot implementation with one of our entities. At the group level, we also achieved tangible eco-efficiency improvements, energy consumption reduced by 9.6%, renewable energy use increased to 38%, water consumption reduced by 2%, and waste generation decreased by 9%. In summary, we close 2025 with meaningful progress across all three pillars, reinforcing our position as the avant that drives and supports and transforms the youth. We continue to generate opportunities, promote sustainable development, and create long-term value for our shareholders and all stakeholders. Thanks.