Q1 2022 Financial Performance

Colombian Economy Strong underlying momentum . 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. GDP 2021E: 10.2% GDP 2022F: 4.5% GDP 2023F: 3.7% 13.5% Finance, Insurance, & Real Estate 10.8% Other 6.0% Natural Resources 3.1% Arts & Entertainment 18.1% Wholesale, Retail Trade, Accommodation & Food Services 12.2% Manufacturing COLOMBIAN GDP BY INDUSTRY (Q4-2021) 6.9% Mining and Oil & Gas Extraction 4.6% Construction 3.0% Information & Communication 6.8% Professional, Scientific, & Technical Services .15.2% Public Administration Sources: Scotiabank Economics, Bloomberg, as of February 18, 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 18 17 *Statistical discrepancy, subject to revision. Sources: Scotiabank Economics, Haver Analytics. 19 20 21 21 Top Trading Partners* United Others States 32% 26% Brazil 5% Mexico 5% China 19% EU 13% * Trade data updated as of Q3-2021. 64

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