Scotiabank Mexico Business Overview

Colombian Economy Strong underlying momentum 13.2% Finance, Insurance, & Real Estate 3.6% Arts & Entertainment 18.0% Wholesale, Retail Trade, Accommodation & Food Services 12.3% Manufacturing . Growth prospects have solidified as the re-opening has progressed Colombia continues to build on its 17 free-trade agreements with 65 countries that account for 41.7% of global GDP Services and consumption, reflecting an expanding middle class, account for rising shares of Colombian GDP compared with traditional strengths in extractive industries 10.0% Other 5.9% Natural Resources GDP 2021: 10.7% GDP 2022F: 6.6% GDP 2023F: 2.9% Sources: Scotiabank Economics, Bloomberg, as of July 29, 2022. Contributions to Colombian GDP Growth 25050 10 y/y % change 15 -5 -10 Other* Net Exports -15 Investment Government -20 Consumption Real GDP -25 17 18 19 20 *Statistical discrepancy, subject to revision. Sources: Scotiabank Economics, Haver Analytics. 21 21 22 22 COLOMBIAN GDP BY INDUSTRY (Q1-2022) 6.8% Mining and Oil & Gas Extraction 4.7% Construction 3.1% Information & Communication 7.0% Professional, Scientific, & Technical Services .15.4% Public Administration Top Trading Partners* United Others States 33% 25% Brazil 5% Mexico 5% China 19% EU 13% * Trade data updated as of Q1-2022. 64

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