Grupo de Inversiones Suramericana S A : 2023 Q4 Results Presentation

Quarter Results

Presentation

Grupo SURA

4Q - 2023

The forward-looking statements contained herein are based on Management's current forecasts and outlook, which have been made under assumptions and estimates of the management of the Companies and may present variations.

For better illustration and decision-making, figures for

Suramericana, SURA Asset Management and its

subsidiaries are administrative rather than accounting, and therefore may differ from those presented to official entities. Thus, Grupo de Inversiones Suramericana assumes no obligation to update or correct the

DISCLAIMER information contained in this presentation.

For comparative purposes of SURA Asset Management's financial performance, proforma figures are included, which present the financial results in 2022, assuming that AFP Proteccion would have been reported under a methodology like the one being applied in 2023.

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Grupo SURA closes 2023 with the highest operating profit in its history

Leveraged by higher premiums, commissions, better investment results and lower expense growth than revenue growth

Revenues

18.8 21.3 20.9

35.5

31.4

24.9

Operating profit

4.6

3.7

2.5	2.9	2.6
		1.6

2018

2019

2020

2021

2022

2023

• COP 6.3 trillion of	• 22% growth
additional revenues in	vs. 2022
2023

2018

2019

2020

2021

2022

2023

• COP 0.9 trillion	• Up 26% vs. 2022
more than in 2022

Figures in COP Trillions	4

Adjusted net income for 2023 reached COP 2.7 Bn

Mainly explained by the growth of SURA AM and Suramericana

Net income

								2,736
							2,345	119
								682
	1,719		1,525
1,455			1,935
			336
2018	2019	2020	2021	2022	2023
		Transacción Nutresa			Transacción Ar y Sal

Controlling net income

							2,318
						2,075
						97
	1,526				682
		1,409
1,187
							1,540
			225
2018	2019	2020	2021	2022	2023
		Transacción Nutresa		Transacción Ar y Sal

• Net income closed at COP 1.9

trillion

• Adjusting for non-recurring items for comparability and to reflect business performance, it stands at

COP 2.7 trillion (+17%)

• Controlling net income closed at

COP 1.5 trillion

• Adjusted controlling interest net income COP 2.3 trillion

(+12%) vs. projection of

10% - 15%

Figures in COP billions	5

Portfolio Management

During 2023 Grupo SURA and its subsidiaries conducted a portfolio focalization in participations, industries and regional presence.

Nutresa - Grupo SURA Exchange

• Exchange: Nutresa + Cash for Grupo SURA's own shares and those of Sociedad Portafolio.
• Completed the first stage of the exchange of Nutresa shares for 27.8% of the common shares (22.4% of the total shares) of Grupo SURA.
• Tender offer filed on February 16.
• We have the necessary resources from cash and financing operations.

Acquisition of 9.74% SURA AM

• Acquisition of 9.74% of SURA AM for COP 1.6 trillion by Grupo SURA from Grupo Bolivar.
• The acquisition will be paid in three installments with resources coming from 33% of SURA AM's extraordinary dividends and 66% of available resources and financing.

Portfolio

focus

Suramericana - Argentina and El Salvador

The closing of both transactions was completed during the last quarter, for a

total value of USD 62.7 million.

Hábitat

Sale of total 82.7% interest in company specializing in housing and senior care services.

SURA AM - AFP Crecer

Protección announced the sale of its entire stake in AFP Crecer in El Salvador, for which it received a total of approximately USD 80 million (including price and other compensation).

6

of the

Highlights

S&P Global Sustainability

Yearbook

Grupo SURA was the only

Latin American company in the Diversified Financial Services industry to be included in the Dow Jones Sustainability World Index, ranking in the top 2% sector and being part of this publication consecutively since 2010.

Rating

In January, Fitch Ratings ratified our international rating at BB+ and our local

rating at AAA, highlighting a

solid investment portfolio

that is reflected in the growth

of dividends in recent years and adequate financial flexibility.

7

Suramericana

4Q - 2023

Adjusted net income increased 29% in 2023

As a result of the good operating performance of Property and Casualty and Life in addition to higher investment income

WRITTEN PREMIUMS

		+14%
		25,036	28,543
	+5%
7,338	7,696
4Q22	4Q23	Dec 22	Dec 23

INVESTMENT INCOME

	TECHNICAL RESULT
			-2%	Claims ratio.*
		1,748	1,719	73.1%
	-8%
			vs 71.5% Dec 2022
556	512
				Adjusted ROE LTM
4Q22	4Q23	Dec 22	Dec 23	10.5%
	NET INCOME			vs 9.3% Dec 2022

		+51%	2,444
+12%		1,620
512	573
4Q22	4Q23	Dec 22	Dec 23

Figures in COP billions

* Claims ratio: Retained claims / earned retained premiums

		+29%
		+5%	631
	-60%
	-67%	490	512
	94
236	79
4Q22	4Q23	Dec 22	Dec 23

Growth % excluding the effects of the sale of Argentina and El Salvador for COP 104 billion

Normalized net income excluding sales effects of Argentina and El Salvador

Adjusted ROTE LTM

13.3%

vs 11.9% Dec 2022

Adjusted ROE: LTM Adjusted Net Income excluding sales
effects Argentina and Salvador/ Average Parent Company
Equity 4Q22 to 4Q23
Adjusted ROTE: Adjusted Net Income LTM excluding sales
effects Argentina and Salvador/ Average Tangible Equity
4Q22 to 4Q23	9

Life segment premiums grow 13% in 2023

While 4Q growth stands at 8.1%

Investment income

Premiums

Claims rate

Net income

• Up 13% in 2023 closing at COP 8 trillion.
• Increased 8% in 4Q driven by Healthcare, ARL, and new business in Chile.
• Closes at 67.1% in 2023, an increase of 404 bps.
• Reached 67.7% in the quarter, an increase of 12.3% pp due to the constitution of extra- longevity reserves in ARL.
• For the year it closed at COP 843 billion, up 28%, while for the quarter it closed at COP 111 billion, impacted by higher reserves.

			1,803
		1,247
362	428
4Q22	4Q23	Dec 22	Dec 23

Figures in COP billions

* Claims ratio: Retained claims / earned retained premiums

10

10