Bancolombia S.A. agreed to acquire additional 47.37% stake in Vlipco for COP 10.5 billion on November 10, 2021.. The acquisition price is ten thousand five hundred twenty million eight hundred seventy-seven thousand four hundred seventy-eight Colombian pesos 10520.877 million. Upon consummation of the acquisition, Bancolombia's existing ownership stake in Vlipco S.A.S. will increase to 100%.

Transaction is subject to satisfactory completion of applicable regulatory procedures. It is expected that closing of the transaction will occur before the end of 2021.