Grupo Nutresa S A : Shareholder newsletter

Quarterly

newsletter

2022 Third Quarter Results

Grupo Nutresa,

1. people-centeredorganization, reports its

consolidated results as of the third quarter of 2022

The Organization will continue innovating its portfolio, offering nutritious and healthy alternatives, and working on fulfilling the goal set for 2030, which states that 50% of its innovations are aimed at improving the health and nutrition for consumers.

The Company continues to make progress towards its strategic goal for 2030 of sourcing 100% of the

commodities in a productive and sustainable way while preserving biodiversity.

Grupo Nutresa's remains committed to leading a people-centered, conscious and competitive Organization that creates value for all its stakeholders, while making progress in alignment with its higher purpose of building a better world where development benefits everyone.

Consequently, the Company shares the progress achieved over certain relevant matters for the Organization:

Cooperating with people, partners and society: nutrition, health and well-being

Grupo Nutresa is committed to developing food solutions that make a positive contribution in terms of people's nutrition, well-being and health. This is based on research and development capacities that enable the Organization to have an innovative portfolio that is constantly evolving.

Over the past ten years, the Company has improved the nutritional profile of 3.144 products by reducing and replacing ingredients of particular interest from the public health stance. In addition, Grupo Nutresa has entered new categories such as the specialized nutrition segment with its brand Bénet, the alternative- protein category with the brands Pietrán, Kibo

and Tosh, and the 100% baked snacks category, among other initiatives.

As part of its 2030 objectives, the Organization strives to continue complementing its portfolio with other nutritious and healthy alternatives, which is why the Company has set a goal to ensure that 50% of its innovations improve the consumers' health conditions.

Preserving the planet: responsible and productive sourcing

The Company continues making progress towards its strategic goal for 2030 of sourcing 100% of the supplies in a productive and sustainable way while preserving biodiversity. This is managed through a competitive procurement model that allows a positive balance between sustainability-driver efforts and productivity.

To fulfill this purpose, Grupo Nutresa develops strategies along the value chain focusing on competitiveness, training in digital capabilities, biodiversity and agricultural and livestock development, Human Rights, and inclusive businesses through projects that cover the Organization's top 16 commodities, which make up for more than 80% of the Company's procurement volume.

To find detailed information, please review the supplementary information on our website

3

7

News

Financial and stock information

9

14

Innovations Sustainability

Inspiring development, growth and innovation. Consolidated financial results of Grupo Nutresa S. A. for the third quarter of 2022

Grupo Nutresa's consolidated sales as of the end of the third quarter amount to COP 12,2 trillion, 33,1% higher than the sales for last year's equivalent period. All of the geographies where the Organization operates and all its Business Units continue presenting double-digit growth rates.

The consolidated EBITDA as of the end of this period totaled COP 1,5 trillion, with a 12,2% margin and representing a 25,8% growth over the same period in 2021.

The net profit as of the end of the third quarter amounts to COP 723.049 million, growing by 35,2%.

As of the closing of this year's third quarter, Grupo Nutresa's sales continue showing a positive trend by amounting to COP 12,2 trillion, which is 33,1% higher than the equivalent sales in 2021.

All of Grupo Nutresa's geographies and Business Units recorded two-digit growth rates, reflecting responsible pricing with sustained volumes. This is supported by a broad portfolio of well-known and appreciated brands, an innovative offer, and leading market positions that allow the Company to create value to clients, customers, consumers and shoppers.

Revenues in Colombia grow 31,5% and amount to COP 7,3 trillion, which represents 60,2% of Grupo Nutresa's consolidated sales. International sales totaled COP 4,8 trillion, with a 35,5% growth rate regarding last year's equivalent sales. When stated in dollars, these sales amount to USD 1,2 billion and post a growth rate of 22,9%. In the international context, it is also worth highlighting the exports from Colombia, totaling USD 337 million, which grew 38,5%.

Grupo Nutresa continues managing the impact of global inflation and the restrictions along the global supply chain through an adequate administration and hedging of commodities, as well as a disciplinined cost and expense agenda within the Organization. Consequently, the Company reports COP 4,5 trillion in gross profits, achieving a 19,6% growth rate over the period.

The implementation of digital capabilities and the constant pursuit for go-to market agility and productivity have enabled Grupo Nutresa to maintain an operating expense structure that grows by a lower rate than sales, which translates into savings for the Organization. Along this line, the Company's operating profit amounts to COP 1,1 trillion, which is 32% higher than the equivalent profit for the same period in 2021.

As for profitability, Grupo Nutresa reports an EBITDA margin of 12,2% over sales, amounting to COP 1,5 trillion, with a growth rate of 25,8%. In the context of post-operative items, financial expenses grew 63,8% mainly due to the increase in the interest rates in the multiple geographies where Grupo Nutresa operates.

The consolidated net profit amounts to COP 723.049 million, growing by 35,2% in comparison to last year's profit.

Separate Financial Statements

The Separate Financial Statements of Grupo Nutresa S. A. report COP 733.630 million in operating revenues, from which COP 643.438 million correspond to the profit obtained through the equity method of the investments in food companies and COP 90.192 million correspond to dividends from the investment portfolio. Furthermore, the net profit totaled COP 723.163 million.

2

News

Grupo Nutresa was ranked as the

third best-reputed company in Colombia

A ccording to the MERCO Companies and Leaders 2022 monitor, in its 15th edition, Grupo Nutresa is the third company with the best reputation in Colombia. Once again, the company was ranked first in the food sector. Nutresa's 10th position in the list of companies with the best reputation in the digital sphere was also remarkable.

This year, the MERCO Companies monitor contrasted the perception and assessment of 24 sources of information -through 83.939 surveys- with the reality of the business merits of each of the organizations around six reputational values: Economic and financial performance; Quality of the commercial offer; Talent; Ethics and CSR; International dimension; and Innovation.

For his part, Carlos Ignacio Gallego, Grupo Nutresa CEO, was ranked second in the list of Leaders with the best reputation in the country, and has remained in the top 5 of this list for the last seven years.

Grupo Nutresa, the most innovative company in Colombia according to the ANDI and Dinero magazine innovation ranking

In the framework of the 7th Colombian Business Congress recently held in Cartagena, ANDI and Dinero magazine announced Grupo Nutresa's first position in its Business Innovation Ranking 2022, for the first time since its publication six years ago. This study takes the pulse of the innovative dynamics of the country's main companies -small, medium and large- with the objective of making visible their efforts, performance and achievements both in the national and international markets.

Grupo Nutresa had already been ranked 3rd in this list in 2021, and 2nd in 2020.

At Grupo Nutresa, research and effective innovation
continue to be important drivers for value generation
and competitiveness. This recognition clearly reflects the
Organization's efforts to continue building a better world
where development is for everyone, with a high dose of
innovation.	Mario Alberto Niño,
	Vice-President of
	Innovation and Nutrition
	Grupo Nutresa

From left to right: Bruce McMaster, CEO ANDI; Carlos Ignacio Gallego, CEO Grupo Nutresa; and Alejandro Olaya, National Innovation and Entrepreneurship Manager, ANDI.

3

News

T

Opperar Colombia is committed

to gender equity

hrough a comprehensive program that seeks to transform its culture, work with allies, eliminate biases and be more competitive by involving a greater number of women in its logistics operations, Opperar Colombia -Grupo Nutresa's transportation and logistics provider- has managed, in recent months, to go from having fourwomen in operational tasks to 28 - 2 of which are mass transportation drivers, 11 in last-mile transportation and 15 in warehousing processes. Opperar Colombia is thus betting on closing the gender equity gap in a traditionally male-dominated sector.

This strategy has allowed the company to achieve a positive social impact while allowing it to develop its talent to continue providing its services in a sustainable way.

New President of the Coffee Business

On October 1, Francisco Eladio Gómez Zapata, who had been serving as Global B2B Manager, took over as the new President of Grupo Nutresa's Coffee Business.

Francisco Eladio has been part of the Coffee Business for 27 years, where he has worked in the areas of Engineering, Research and Development and in recent years as Global B2B Managerleading the industrial coffee sales strategy in the world and the commercial and technical engagement with major international clients.

Ice Cream Business implements franchises in Colombia

Last July, a new pilot of the Crem Helado franchise business model was implemented hand in hand with entrepreneurs looking for a profitable and attractive business with the endorsement of the Crem Helado brand. With points of sale located in strategic, high-turnover locations, consumers will be offered special preparations within a menu with a clear value proposition. Three customers have already started operations at present, and it is expected to end the year with the opening of two more points of sale.

Program for the productivity of coffee farms

In order to contribute to sustainable development through the generation of opportunities in the regions, the Grupo Nutresa Coffee Business launched the second edition of its "Program for the Sustainability of Coffee Farms" with the participation of 300 coffee-growing families in the municipalities of San Gil, Socorro and Aratoca in the department of Santander; and 250 in Garzón and Timaná, in Huila. The initiative will have an impact on more than 2.000 hectares of coffee crops and is expected to produce, between the two departments, more than 47 thousand sacks of excelso coffee per year for the next three years.

4

News

The Cordillera brand joined the

International

Tourism Day

As part of the "Antioquia is Magic" program, led by the Government of Antioquia, the Cordillera brand was invited to the World Tourism Day meeting last September, an event attended by more than 200 key players from the tourism sector.

Cordillera's participation was part of an experience called "The Chocolate Journey", which seeks to generate cocoa culture through chocolate tastings. The brand also was also able to socialize the progress of some of its sustainable programs, including the development of new highly productive cocoa varieties, the protection of species such as the yellow-eared parrot, and the brand's commitment to agrotourism.

With the participation of 13 national and international speakers and Catalina Aristizábal as hostess, Tosh Fest 2022 was held in September, a multi-experiential wellness festival for people who pursue a harmonious life by taking care of four fundamental pillars of the human being: body, mind, spirit and society. At the event, attendees lived experiences of learning, connection and interaction through different activities such as yoga, meditation, dance, healthy cooking classes, personal growth talks, personal transformation, cooking workshops, coaching and exercise, among others.

Opperar Colombia is committed to gender equity

Through a comprehensive program that seeks to transform its culture, work with allies, eliminate biases and be more competitive by involving a greater number of women in its logistics operations, Opperar Colombia -Grupo Nutresa's transportation and logistics provider- has managed, in recent months, to go from having four women in operational tasks to 28 - 2 of which are mass transportation drivers, 11 in last-mile transportation and 15 in warehousing processes. Opperar Colombia is thus betting on closing the gender equity gap in a traditionally male- dominated sector.

This strategy has allowed the company to achieve a positive social impact while allowing it to develop its talent to continue providing its services in a sustainable way.

5