Grupo Cibest S.A.

Good morning, ladies and gentlemen, and welcome to Grupo Cebes, Bancolombia, first quarter 2026 earnings conference call.

My name is Paul, and I will be your operator for today's call. At this time, all participants are in a listen-only mode. Following the prepared remarks, there will be a question and answer session. During the question and answer session, if you have a question, please press star 1 on your touchtone phone. Please note that this conference is being recorded. Please note that this conference call will include forward-looking statements, including statements related to our future performance, capital position, credit-related expenses, and credit losses. All forward-looking statements, whether made in this conference call, in future filings, in press releases, or verbally, address matters that involve risk and uncertainty. Consequently, there are factors that could cause actual results to differ materially from those indicated in such statements. including changes in general economic and business conditions, changes in currency exchange rates and interest rates, introduction of competing products by other companies, lack of acceptance of new products or services by our targeted clients, changes in business strategy, and various other factors that we describe in our reports filed with the SEC. With us today is Mr. Juan Carlos Mora, Chief Executive Officer, Mr. Mauricio Botero-Wolf, Chief Strategy and Financial Officer, Mr. Rodrigo Prieto, Chief Risk Officer, Mrs. Catalina Tobon, Investor Relations and Capital Markets Director, and Mrs. Laura Clavijo, Chief Economist. I will now turn the call over to Mr. Juan Carlos Mora, Chief Executive Officer. Mr. Juan Carlos, you may begin.

Good morning and welcome to Grupo CIVEST's first quarter's conference call. Please turn to slide two. As anticipated, The start of the year in Colombia was characterized by a continued deterioration in fiscal conditions. Inflation pressures, increased uncertainty surrounding the implementation of economic emergency measures, and the escalation of the Middle East conflict, which has added volatility to an already stressed macroeconomic environment. Despite the complex backdrop, the Colombian economy continues to expand at a moderate pace, supported by robust private consumption, aimed at a stronger than expected labor market, and sustained public spending. As a result, GDP is estimated to have grown by 2.7% quarter on quarter. In this challenging context, we are pleased to report our first quarter results, which Net of the one-off wealth tax demonstrates the strength and adaptability of our business model across economic and credit cycles. Net income was 1.5 trillion pesos, down 16 from last year, due mainly to the wealth tax. This drop was partly upset by higher net interest margin and net fee income. Digital businesses continue to grow their share of total fee income. Deposits kept outpacing loan growth during the quarter, further consolidating our competitive advantage in accessing stable and low-cost funding. The quarterly annualized cost of risk stood at 1.9%, mainly due to higher macro risk provisions while asset quality remained solid across segments and geographies, reflecting good loan performance. All in all, ROE came at a 15%. NECI's spinoff from Bancolombia is progressing well, moving toward an independent license to boost its value proposition and profitability. The Banismo sale is advancing as planned for a second quarter close with proceeds allocated to intra-group capital instruments and digital platform investments to improve efficiency and support growth. These actions reflect our clear commitment to disciplined capital allocation and long-term value creation for our shareholders. Please go to slide three. In line with our dedication to increasing shareholder value, we are delighted that the shareholders meeting approve both the ordinary dividend distribution of 4.3 trillion pesos and the share buyback program set for 2026. The new program authorizes the repurchase of up to 1.35 trillion pesos and may be executed across all three shares classes over a period of up to three years and replaces the former 2025 program. providing greater flexibility and continuity. As of April 21st, 51% of the 2025 program amount was executed, totaling 12.7 million shares, equivalent to 1.3% of our total shares outstanding. As a matter of fact, the performance of the three classes of shares during the execution phase of the 2025 program was outstanding. The ADR rose 66%, followed by the common with 57% and the preferred with 47%. The decision to renew the program responds to two key objectives, to continue delivering value to our shareholders and to actively manage capital at the holding level, a flexibility enabled by Grupo CIVIS corporate structure. Execution under the new program will continue to be dependent to market conditions. Please go to slide four. Regarding our regional presence, I want to highlight how BAM remains a key strategic asset for Grupo CIVEST, given its ability to support scalable growth, improve capital efficiency, and expand the group regional banking footprint. Our strategy in Guatemala is centered on optimizing the balance sheet and business mix by reinforcing its value proposition to corporate and retail segments and encasing its cross-border loan book that currently represents 20% of its corporate loans. BAM is actively implementing Grupo Civis' digital ecosystem, including platforms such as Neki, Wampi, and Wenya, which enables innovation in payments, acquiring, and remittances. Overall, LAM plays a relevant role within Grupo CIVIS' long-term strategy, contributing to diversification and growth in a country with a constructive macroeconomic environment and a stable financial system. I will now hand over to Laura Clavijo, Chief Economist, for a summary of the macroeconomic landscape. Laura?