Grupo Aval Acciones y Valores S A : Credicorp Capital Virtual XX Andean Conference 2022

Corporate Presentation

September 2022

Disclaimer

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 Aval financial conglomerate.

The consolidated financial information included in this document is presented in accordance with IFRS as currently issued by the IASB. Details of the calculations of non-IFRS measures such as ROAA and ROAE, among others, are explained when required in this report.

Banco de Bogotá executed a spin-off of a 75% equity stake in BAC Holding International, Corp ("BHI"); to its shareholders and Grupo Aval subsequently spun-off its equity interest to its shareholders on March 29, 2022. Prior to the spin-off, Banco de Bogotá was the direct parent of BHI. Grupo Aval has retained an indirect stake of approximately 17.2% in BHI (representing our proportional interest in the 25% equity stake in BHI retained by Banco de Bogotá). This interest in BHI is reported as discontinued operations for reporting periods prior to the spin-off, including for the full period in the three months ended March 31, 2022 and, will be reported under the "share of profit of equity accounted investees, net of tax (equity method)" line item for subsequent periods.

As a result, for comparability purposes, we have prepared and present supplemental unaudited pro forma financial information for the three months ended March 31, 2021 and the three months ended December 31, 2021 that assumes the spin-off was completed on January 1, 2021 and October 1, 2021, respectively. The supplemental unaudited pro forma financial information does not purport to be indicative of our results of operations or financial position had the relevant transactions occurred on the dates assumed and does not 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 ended December 31, 2022 may result in adjustments to the unaudited pro forma financial information presented herein any such adjustments may be material. For further information, please see the supplemental unaudited pro forma financial information in our Q1 earnings release dated May 18, 2022.

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 risk described from time to time in our filings with the Registro Nacional de Valores y Emisores and 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.

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Table of contents

1. About Grupo Aval
2. Financial Results
3. Macro Overview

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Table of contents

1. About Grupo Aval
2. Financial Results
3. Macro Overview

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Grupo Aval key highlights

Key Figures (as of June 30, 2022)
Balance Sheet	US$ billions
Total Assets	$66.5
Net Loans	$38.5
Deposits	$38.6
Attr. Net Income	$0.58
Third Party Assets Under Mgmt. (1)	$83.7

Key Ratios (YTD 2022)

ROAA (2)	2.9%
ROAE (2)	25.9%
Tangible Equity Ratio (3)	9.6%
Efficiency	39.6%
Deposits to Net Loans Ratio	100.2%

Business Composition

By Assets (as of June 30, 2022)

By Net Income (for 1H22)

)

Geographic

Type of Business

Geographic

Type of Business

Pension Fund

Pension Fund Manager

Central America

Merchant /

Manager 1%

Central America

1%

Merchant /

Investment Bank

9.0%

21%

17%

Investment

Bank

21%

Commercial &

Commercial &

Colombia

Colombia

Retail Banks

91.0%

Retail Banks 81%

77%

79%

Source: Consolidated company filings

Note: Peso amounts were converted to U.S. dollars using the representative market rate as computed and certified by the Superintendency of Ps $4,151.21 per U.S. $1.00 as of June 30, 2022.(1)

Includes AUMs of Fiduciaria Bogotá, Fiduciaria de Occidente, Fiduciaria Popular, Fiduciaria Corficolombiana and MFG as of May 2022. Porvenir as of June 2022. (2) Calculated as annualized net

income divided by the average of assets for the three quarters ending June 30, 2022 divided by three. (2) Calculated as annualized net income attributable to owners of the parent divided by the

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average of attributable equity for the three quarters ending June 30, 2022 divided by three. (3) Calculated as total equity minus intangible assets (goodwill plus other intangible assets) divided by

total assets minus intangible assets.