Grupo de Inversiones Suramericana S A : 2022 Q3 Individual financial statements

Condensed Interim Separate Financial Statements of Grupo de Inversiones Suramericana S.A. for the nine-month period between January 1st and September 30th 2022

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TABLE OF CONTENT
RESPONSIBILITIES OF THE DIRECTORS OVER THE ACCOUNTS	4
CERTIFICATION OF THE CONDENSED SEPARATE FINANCIAL STATEMENTS	5
AUDITORS REPORT	6
CONDENSED INTERIM SEPARATE FINANCIAL POSITION STATEMENT	8
CONDENSED INTERIM SEPARATE INCOME STATEMENT	9
CONDENSED INTERIM SEPARATE STATEMENT OF COMPREHENSIVE INCOME	10
CONDENSED INTERIM SEPARATE STATEMENT OF CHANGES IN EQUITY	11
CONDENSED INTERIM SEPARATE STATEMENT OF CASH FLOWS	12
NOTE 1. REPORTING ENTITY	13
NOTE 2. BASIS OF PRESENTATION OF SEPARATE FINANCIAL STATEMENTS AND
SIGNIFICANT ACCOUNTING POLICIES	13
2.1. Statement of compliance	13
2.2. Basis of presentation	14
2.3. Significant accounting policies	15
NOTE 3. SIGNIFICANT ACCOUNTING JUDGMENTS, ESTIMATES, AND CAUSES OF
UNCERTAINTY IN THE PREPARATION OF THE FINANCIAL STATEMENTS	15
NOTE 4. NORMS ISSUED NOT EFFECTIVE YET	15
NOTE 5. FINANCIAL INSTRUMENTS	19
5.1. Financial assets	19
5.2. Financial liabilities	20
NOTE 6. TAXES	27
6.1. Current income tax	27
6.2. Deferred tax	29
6.3. Tax matters in Colombia	29
6.4 Deferred Tax Assets Not Recognized	29
6.5. Uncertainty regarding income tax treatments	30
NOTE 7. INVESTMENTS IN SUBSIDIARIES AND ASSOCIATES	30
7.1. Investment in associates	30
7.2. Investments in subsidiaries	32
NOTE 8. DIVIDENDS PAID AND DECLARED	34
NOTE 9. OTHER COMPREHENSIVE INCOME	34
9.1 New defined benefit plan measures	35
9.2 Gain (loss) from investment in equity instruments	35
9.3 Cash flow derivative hedges	35

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9.4 Equity in other comprehensive income of subsidiaries accounted for using the equity method
....................................................................................................................................................	35
NOTE 10. INCOME	36
NOTE 11. ADMINISTRATIVE EXPENSES	36
NOTE 12. FEES	37
NOTE 13. FINANCIAL RESULTS	37
13.1 Foreign exchange difference (Net)	37
13.2 Interests	38
NOTE 14. EARNINGS PER SHARE	38
NOTE 15. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES	39
NOTE 16. RELATED PARTY DISCLOSURES	42
NOTE 17. OTHER MATTERS	43
NOTE 18. EVENTS SUBSEQUENT TO THE REPORTING DATE	44
NOTE 19. APPROVAL OF FINANCIAL STATEMENTS	44
ANALYSIS OF FINANCIAL RESULTS (unaudited)	45

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RESPONSIBILITIES OF THE DIRECTORS OVER THE ACCOUNTS

The Directors are required to prepare the financial statements, for each financial period, that reasonably present the financial position of the Company, results, and cash flows, at September 30, 2022, with comparative figures at September 30 and December 31, 2021. For the preparation of these financial statements, the Directors are required to:

• Select appropriate accounting policies and apply them consistently.
• Present information, including accounting policies, that are relevant, reliable, comparable, and comprehensive.
• Make judgments, and reasonable, prudent estimates.
• State whether applicable accounting standards have been followed, subject to any significant deviation revealed, and explained, in the accounts.
• Prepare the accounts, based on the ongoing business, unless it is inappropriate to presume that the Company will continue in business.

The Directors confirm that the accounts meet the above requirements.

In addition, the Directors consider that they are responsible for maintaining appropriate accounting records, which reveal, with reasonable accuracy, at any time, the financial situation of the Company. They are also responsible for safeguarding the assets of the company and, therefore, for taking reasonable steps to prevent and detect fraud, and other irregularities.

Gonzalo Alberto Pérez Rojas	Juan Guillermo Chica Ramirez
President	Public accountant
	Professional Card 64093-T

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CERTIFICATION OF THE CONDENSED SEPARATE FINANCIAL STATEMENTS

The undersigned Legal Representative and Public Accountant, under whose responsibility the consolidated financial statements were prepared, certify:

That for the issuance of the statement of financial position, at September 30, 2022, and of the separate income statement for the year, as well as, the statement of other comprehensive income, changes in equity statement, and the cash flow statement, for the year ended on that date, which are in compliance with the norms, and are made available to shareholders and third parties, and whose information, contained in them, have been previously verified and the figures taken faithfully from the books.

Said affirmations, explicit and implicit, are the following:

Existence: The assets and liabilities of Grupo de Inversiones Suramericana S.A., exist on the cutoff date and the transactions recorded, have been realized during the year.

Integrity: All economic events have been recognized.

Rights and obligations: The assets represent probable future economic benefits, and liabilities represent probable future economic sacrifices, obtained or under the charge of Grupo de Inversiones Suramericana S.A., on the cut-off date.

Valuation: All elements have been recognized, in the appropriate amounts.

Presentation and disclosure: Economic events have been correctly classified, described, and disclosed.

In accordance with Article 46 of Law 964 of 2005, in my capacity as legal representative of Grupo de Inversiones Suramericana S.A., the financial statements, and other reports relevant to the public, related to the fiscal year between September 30, 2022 and September 30 and December 31, 2021, do not contain defects, inaccuracies, or errors, that prevent the knowledge of the true financial situation, and the operations of the Company.

Gonzalo Alberto Pérez Rojas	Juan Guillermo Chica Ramirez
President	Public accountant
	Professional card	64093-T

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