Bancolombia CIB ll&.iiiu NYSE

BANCOLOMBIA S.A ANNOUNCES UNCONSOLIDATED RESULTS FOR THE MONTH OF JUNE 2014

Medellin, Colombia, July 15, 2014

LIABILITIES ANO SHAREHOLDERS' EQUITY LIABILITIES

DEPOSITS

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Reappraisal and .hers .


Bancolombia CIB ll&.iiiu NYSE

BANCOLOMBIA S.A. Growth Growth INCOME STATEMENT AccumulatedAnnual MonthMonth (COP M1ll1ons) Jun-13 Jun-14 % May-14 Jun-14 % lnterest income and expenses

lnterest on loans 2,759,674 2,885,852 4.57% 489,267 499,626 2.12%

lnterest on investment securities 247.308 209,171 -15.42% 25.174 32,391 28.67% Overnight funds 8.733 13,186 50.99% 1.434 1,694 18.13% Leasing 51.434 48,065 -6.55% 8,105 8,022 -1 02% Total interest income 3 067149 3156 274 2.91"1< 523 980 541733 3.39"1< Checking accounts 10,047 10,089 0.42% 1.729 1,597 -7.63%
11me deposits 355,919 306,592 -13.86% 47.789 49,537 3.66%
Saoings deposits 364,807 239,293 -34.41% 39,037 38,365 -1 72% Total interest on deposits 730,773 555,974 -23.92"1< 88,555 89,499 1.07"1< lnterbank borrowings 26.856 55,081 105.10% 8,689 8,333 -4.10% Borrowings from domestic development banks 33,749 43,521 28.95% 6,803 6,487 -4.65% Overnight funds 25,360 17,580 -30.68% 3,201 1,972 -38.39% Bonds 283,525 286,926 1.20% 47.054 46,887 -0.35% Total interest expense 1100 263 959 082 -12.83"1< 154 302 153178 .0.73"1< Net interest income 1,966,886 2,197,192 11.71"1< 369,678 388,555 5.11"1< Prooision for loan and ac crued interest losses. net (558,473) (475,269) -14.90% (100,222) (81,954) -18.23% Recovery of charged-off loans 72,863 52,579 -27.84% 15,304 7,255 -52.59% Prooision for foreclosed assets and other assets (21,867) (25,999) 18.90% (3.415) (4,075) 19.33% Recoverv of prooisions for foreclosed assets and other assets 9,697 14,435 48.86% 3.227 3,474 7.65% Total net provisions (497,780) (434,254) -12.76"1< (85,106) (75,300) -11.52"1< Net interest income alter provision for loans

and aecrued interest losses 1469106 1762 938 20.00"1< 284 572 313 255 10.08"1< Commissions from banking seroices and other seroices 102,653 141,627 37.97% 31,297 23,349 -25.40% Electronic seroices and A1M's fees.net 36.177 41,005 13.35% 6,914 7,184 3.91% Branch network seroices. net 53.221 59,752 12.27% 10.786 9,381 -13.03% Collections and payments fees, net 122.551 145,469 18.70% 25.989 24,808 -4.54% Qedit card merchant fees. net 3,120 2,939 -5.80% (775) 1,325 -270.97% Qedit and debit card fees, net 224,409 257,367 14.69% 43.702 41,646 -4.70% Checking fees. net 34,697 34,758 0.18% 5,900 5,154 -12.64% Check remittance. net 2.690 3,094 15.02% 600 436 -27.33% lnternational operations. net 16,217 25,259 55.76% 3.744 4,546 2142% Total fees and other service income 595 735 711270 19.39"1< 128 157 117 829 -8.06"1< Other fees and seroice expenses (86,455) (96,440) 11.55% (17,808) (18,497) 3.87%

Total fees andineome from service s. net 509 280 614 830 20.73"1< 110 349 99332 -9.98"1<
Other operating income

Net foreign exchange gains 5.705 70,903 1142.82% 10.943 16,008 46.29% CBrivative Financiallnstruments (3.604) 27,303 -857.57% 6,557 (67) -101 02% Gains(Loss) on sales of investments on equity securities - 0.00% - 0.00% Securitization income 20,132 9,647 -52 08% 1,447 1,458 0.76% Doidend ineome 399.247 242,626 -39.23% 5,072 -100.00% Communication. rent payments and others 4,545 8,213 80.70% 6,295 106 -98.32% Total other operating income 426 025 358 692 -15.80"1< 30 314 17 505 -42.25"1< Total income 2,404,411 2,736,460 13.81"1< 425,235 430,092 1.14"1< Operating expenses

Salaries and employee benefits 561.723 562,629 0.16% 93,561 92,953 -0.65%

Bonus pian payments 76.126 58,864 -22.68% 11.933 9,344 -21 70% Compensation 12,101 20,971 73.30% 2.449 4,599 87.79% Administrative and other expenses 826,554 781,175 -5.49% 141,005 144,908 2.77% CBposit security, nel 41,199 66,444 61.28% 10,364 11,282 8.86% Donation expenses 4,958 968 -80.48% 466 183 -60.73% CBpreciation 34,027 28,949 -14.92% 4.735 4,815 1 69% Total operating expenses 1556 688 1520 000 -2.36"1< 264 513 268084 1.35"1< Net operating income 847,723 1,216,460 43.50"1< 160,722 162,008 0.80"1< Goodwill amortization - 76,623 100 00% 12,445 12,277 -1 35% Non-operating income (expense) 76,623 100.00"1< 12,445 12,277 -1.35"1< Other ineome 64,329 34,637 -46.16% 12.293 1,170 -90.48% Other expense (44.644) (61,627) 38.04% (8.700) (10,141) 16.56% Total non-operating income 19,685 (26,990) -237.11"1< 3,593 (8,971) -349.68"1<

o : ., =·· l .. .. .. l

lncome before income taxes 867,408 1,112,847 28.30"1< 151,870 140,760 -7.32"1<

Income tax expense (64.212 (252,376 29304% (45.110 (34,175 -24.24%

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[ij.J.iijtQij Jaime A. Velasquez Strategy and Finance VP Te!.: (574) 4042199

Jose Humberto Acosta

Financial VP

Te!: (571) 4885934

Alejandro Mejia

IR Manager

Te!.: (574) 4041837

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