Grupo De Inversiones Suramericana S.a. · BVC:GRUPOSURA
Grupo De Inversiones Suramericana — Grupo SURA — Q1 2026 Earnings Presentation
27 slides from Grupo De Inversiones Suramericana's earnings presentation, May 2026
Slide 1: 1Q 2026 Results Presentation
2026 Results Presentation 1Q G RUPOSURA.COM 1
Slide 2: Legal Disclaimer
Legal Disclaimer This document may contain statements of future disclosures relating to Grupo SURA and its subsidiaries, which have been made under assumptions and estimates of the Companies' management and may vary . For better illustration and decision -making, the figures are administrative and n
Slide 3: Agenda
Consolidated 01 Results Agenda Business 02 Results Shared Services Center 03 Conexxi ón
Slide 4: Consolidated Results 1Q
01 Consolidated Results 1Q
Slide 5: Quarterly net income closes at COP 509 billion, driven by strong operating performance
Quarterly net income closes at COP 509 billion , driven by strong operating performance and reflecting the impact of the wealth tax in Colombia Controlling Net Income Pro forma controlling financial net income evolution 1 | ROE 2 COP billions COP billions 13.7% 13.8% Wealth tax Wealth tax Adjusted R
Slide 6: LTM earnings per share closes at COP 7,061 in line with year-end 2025
LTM earnings per share closes at COP 7,061 in line with year -end 2025 Pro forma earnings per share - COP 1 Wealth tax COP 693 7,092 7,061 CAGR + 21.2% 3,775 2022 2023 2024 2025 2026LTM Managerial earnings per share calculation based on the number of outstanding shares at the end of each period . 1
Slide 7: Performance of our Companies
Performance of our Companies Premiums Commissions Loan Portfolio +5.7% +11.7% +6.5% FXN : +7.2% FXN : +12.5% FXN : +9.6% NIM Underwriting Operating result income 7.03% +21.0% +23.8% +27bps vs Q4 2025 ROE ROE Net interest income 12.4% 11.4% 1 +9.2% 1 ) ROE : Excluding intangible amortization for SURA
Slide 8: Implied valuation of unlisted assets and P/E multiples still reflect upside potential
The implied valuation of unlisted assets and P/E multiples of 7.2x –5.7x still reflect upside potential despite the stock's strong performance Relative valuation – Suramericana and SURA AM BV 15 P/E Multiples TBV 8 Ord 7.2x 6.0 Pref 5.7x Implicit value ago aug-25 -25 sept -25 oct -25 nov -25 dic -25
Slide 9: Business Results 1Q
02 Business Results 1Q
Slide 10: Q1 2026 Results: Insurance
Q1 2026 Results —S suramericana Insurance Savings & Pensions Grupo Cibest Banking
Slide 11: Improved claims ratio and premium growth consolidate Suramericana's underwriting result
Improved claims ratio and premium growth consolidate Suramericana's underwriting result Written Premiums Underwriting result Investment Income Controlling Net Income +5.7% 4,793 +21.0% 4,535 668 +2.0% 552 557 568 Wealth tax COP 84 bn -1.1% 204 202 Mar 25 Mar 26 Mar 25 Mar 26 Mar 25 Mar 26 Mar 25 Mar
Slide 12: Voluntary health and workers' compensation drive profitable growth in the Life Segment
Voluntary health and workers ' compensation drive profitable growth in the Life Segment : net income +33.5% Written Premiums Underwriting result Investment Income Net Income +15.1% 2,544 2,210 +9.2% +134.5% 468 +33.5% 429 120 283 212 51 Mar 25 Mar 26 Mar 25 Mar 26 Mar 25 Mar 26 Mar 25 Mar 26 CLAIMS
Slide 13: P&C prioritizes profitability: selective growth in a soft market
P&C prioritizes profitability: selective growth in a soft market protects the underwriting result Written Premiums Underwriting result Investment Income Net Income -2.2% 2,350 2,298 -3.5% 303 292 -11.7% 130 115 -54.9% 54 25 Mar 25 Mar 26 Mar 25 Mar 26 Mar 25 Mar 26 Mar 25 Mar 26 COMBINED RATIO 105.4
Slide 14: Q1 2026 Results: Savings & Pensions
Q1 2026 Results Savings & Pensions
Slide 15: Commissions +12.5% led by strong fee-earning AUM performance
Commissions +12.5% led by strong fee -earning AUM performance, with income temporarily impacted by legal reserves and the wealth tax in Colombia AUM Commission Income Operating Income Controlling Net Income Cop Tn Wealth tax Wealth Tax COP 94 bn COP 70 bn +14.3% +12.5% +24.8% +13.8% 808 1,122 500 26
Slide 16: Fee-earning AUM drives Savings & Retirement
Fee -earning AUM drives Savings & Retirement : operating income +32% excluding legal reserves effects AUM Operating Income Cop Tn Commission Income Legal reserves excluding legal reserves +14.6% 715 645 +12.3% 998 895 +32.3% 457 349 -73.5% 77 20 Mar 25 Mar 26 Mar 25 Mar 26 OPERATING MARGIN INVESTMEN
Slide 17: SURA Investments operating income multiplied by 2.8x
SURA Investments operating income multiplied by 2.8x reflecting commission growth and cost efficiency AUM Commission Income Operating Income Cop Tn +12.0% +181.8% 93 +12.1% 89 37 118 107 7 13 13 Mar 23 Mar 24 Mar 25 Mar 26 OPERATING MARGIN 1 9.8% 22.9% Controlling Net Income +116.2% Mar 25 Mar 26 Ma
Slide 18: Q1 2026 Results: Banking
Q1 2026 Results Insurance Savings & Pensions Banking
Slide 19: Grupo Cibest achieves net income of COP 1.5 Tn in Q1 2026
Grupo Cibest achieves net income of COP 1.5 Tn in Q1 2026, driven by healthy loan portfolio growth and NIM expansion while reflecting the wealth tax Gross Loan Portfolio Net Income Ne t interest margin Wealth tax +6.5% 1.83 1.74 261.8 0.37 7.0% 245.9 7.0% 7.0% 6.8% 1.46 6.6% 1Q25 1Q26 1Q25 1Q26 1Q25
Slide 20: Q1 2026 Results
Q1 2026 Results Insurance Savings & Pensions Banking
Slide 21: Businesses generate COP 774 Bn in contribution to Grupo SURA
Businesses generate COP 774 billion in contribution to Grupo SURA ; operating performance partially offsets the impact of the wealth tax Controlling net income composition as of March 2026 Business contribution COP 774 Bn 362 735 -241 227 -25 509 -4 4 164 249 SURA AM Suramericana Cibest Net financia
Slide 22: Debt refinanced in a timely manner: 5-year COP loan clears 2026-2027 maturities
Debt refinanced in a timely manner : 5-year COP loan clears 2026 -2027 maturities Recent Debt Management Future Debt anagement Levers M International bond payment in April, USD 300 mm Operating cash flow covers 2026 and 2027 maturities Club deal refinancing for Executing deleveraging plans USD 500 m
Slide 23: Conexxión Shared Services Center
03 Conexxi ón Shared S ervices Center
Slide 24: Two Efficiency Levers
Negotiation Lever COP $3.3T Conexxi ón • • Improved commercial terms Demand consolidation Negotiable procurement expenditure • Integrated supplier management • Regional scale +26,000 Suppliers to consolidate Shared services center designed TWO EFFICIENCY LEVERS to transform and empower the business
Slide 25: Estimated Efficiencies
Cumulative savings COP 600 – 800 over the next 5 years Billion Estimated Annual savings from ~COP 200 Efficiencies year 5 onwards Billion +2 % Estimated improvement in Suramericana ROE 25
Slide 26: Appendix
GRUPO surd = Appendix
Slide 27: Grupo SURA ROE
Grupo SURA ROE Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 1 Elimination of the Grupo Argos investment value Balance Sheet recorded at Grupo SURA (to reflect only financial operations) Equity attributable to shareholders of the parent company 25,974 26,581 20,134 19,498 18,518 Equity adjustments -8,648 -8,647 -2,