Grupo Argos S.A. · BVC:GRUPOARGOS
Grupo Argos — Investor Day (February 2026)
24 slides from Grupo Argos's investor day presentation, February 2026
Slide 1: Investor Day
rN | GRUPO ARGOS Inversiones que transforman Investor Day February 2026
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Grupo Argos for informational purposes only and includes forward-looking statements based on reasonable assumptions and estimates by management, including financial projections, strategic goals, performance expectations, returns to shareholders, divi
Slide 3: Urban Development Business
Urban Development Business 140
Slide 4: Urban Development Business Team
Urban Development Business Team María Clara Erik Aristizábal Ducey CEO Real Estate Strategy Manager 141
Slide 5: We have a 2.1 trillion portfolio of legacy assets
We have a 2.1 trillion portfolio of legacy assets, where 51% of the area represents 98% of the value. Barranquilla, Pto. Colombia Portfolio composition Cartagena % of area by soil type % of value by soil type Suelo Portuario Suelo Suelo Rural, 2% Portuario; Agro; <1% Suelo <1% Protección /… Suelo Ca
Slide 6: 95% of portfolio value concentrated in Cartagena (Barú) and Barranquilla AM
95% of the portfolio value is concentrated in Cartagena (Barú) and Barranquilla AM Development approach Master plans that establish roads and public areas, allocate areas for urban facilities and areas of environmental relevance, define private lots for real estate development, plan uses and stages,
Slide 7: Development focus on the Riomar Master Plan
The development focus is on the Riomar Master Plan, with multiple uses and types of real estate projects. 427 ha Riomar Master Plan Planning Area Pavas Sector 223 ha Pajonal Sector 204 ha Pajonal Sector pre-certified LEED for Cities and Communities 144
Slide 8: Business plan adjusted to prioritize high absorption projects
In response to the market, we adjusted the business plan to prioritize projects with high absorption rates Urbanizations focused on high-end products with moderate absorption rates. Changes to the business plan in Portal Empresarial response to the market del Norte Urbanizations with products aligne
Slide 9: Urban planning model has resulted in clear market preference
The urban planning model we adopted has resulted in a clear market preference Residents Roads Hotels Trade Offices Industry + 80% Citizen Satisfaction Source: 2023 Citizen 306,251 117,729 1,164 rooms 435,100 m2 built 185,310 m2 built 9,000 Perception Survey of Barranquilla Cómo Vamos Potential meter
Slide 10: In the last decade we almost tripled our market share
In the last decade, we almost tripled our Market Share, going from 17% to 47%. Last year's VIS (social Units Non-VIS sales last year Units Last year's total sales Units housing) sales Barranquilla 2,001 Data63% 43% 1,185 47% 4,826 5,510 Total sales: Total sales: 5,375 Total sales: 2,747 1,562 How ar
Slide 11: Master plan that leverages environmental assets
We developed a master plan that leverages environmental assets Rafael Nuñez Historic Airport district 1,094 ha Boca Grande Cartagena de Indias Total planning area New Airport Hospitality 3,000 hotel rooms Tierrabomba Marina and Centrality Boca Chica Public pier in the Marina bay in Caribbean Mamonal
Slide 12: Attracted investment for 30% of the hotel component
We have attracted investment for the development of 30% of the hotel component 1 HOTEL SOFITEL BARÚ MAIN USES 187 rooms Hotels Residential Luxury Hotel Maritime Central area areas Commercial 2 4 CALABLANCA 300 units Residential Project 3 DECAMERON II 1 450 rooms 5 All-Inclusive Hotel 2 4 FOUR SEASON
Slide 13: Sofitel: demonstrating the tourism potential of Barú
Sofitel: A sophisticated structure that allowed us to demonstrate the tourism potential of Barú Attract an anchor to the master plan. Aligning the interests of the investor, developer, operator, and landowner. Investment scheme with risk/return balance with exit strategy. Synthetic version of a stab
Slide 14: Sofitel Calablanca: structuring a synthetic stabilized asset for PEI
Sofitel Calablanca: Structuring a synthetic stabilized asset for the largest REIT in Colombia (PEI) STEP 1: Put option as of year 6 for Years 1 to 5:Preferred Flow to PEI / Waterfall Cash flow for GA and A&C without being Operation GA & A&C F Kick-off conditional on a minimum occupancy. C X X Invest
Slide 15: 16% unleveraged return selling our 20% stake in the hotel
We achieved a 16% unleveraged return on investment by selling our 20% stake in the hotel Rationale for the sale: Hotel performance as of Nov 2025 • Accelerated stabilization of the hotel • Focus on our activity core +50% +30% +20% ADR vs 10-Year Plan RevPAR vs 10-Year Plan GOP vs 10-Year Plan • Simp
Slide 16: Consolidating Barú as a tourist destination
We are making progress in consolidating Barú as a tourist destination developing milestones for traffic generation Branded Hotels Residences & Supplementary Timeshares uses Promotion of hotel projects that act as The traffic generated The development of housing anchors, generating by the hotel indus
Slide 17: We structure real estate initiatives to attract investment
We structure real estate initiatives to attract investment Caobo Playa Caliza Zolé Casa Cantero Lot area: 3.26 ha Lot area: 5.35 ha Lot area: 5.64 ha Lot area: 2.87 ha Uses: Tourist accommodation Uses: Mixed (Commerce, Uses: 350-room All-Inclusive Uses: 80-room boutique hotel (208 units, including b
Slide 18: Monetized 55% of the 2016 portfolio, maintaining AUM of 2.1 trillion
In terms of net divestments, we have monetized 55% of the 2016 portfolio, maintaining an AUM of 2.1 trillion 280,000 10,000 Value of closed deals (promises) vs. New home sales in Barranquilla 9,000 8,000 210,000 7,000 6,000 140,000 5,000 4,000 70,000 3,000 2,000 0 1,000 2005 2006 2007 2008 2009 2010
Slide 19: NDU achieved a Real CAGR of +19% in Net Cash Flow
Over the past 10 years, the NDU has achieved a Real CAGR of +19% in Net Cash Flow and -1% in spending COP 249 bn COP 70 bn COP 89 bn INCOME CASH FLOW 2025 NET CASH FLOW 2025 TOTAL SPENDING 2025 Actual CAGR 5% Actual CAGR 19% Actual CAGR -1% COP 1.9 bn COP 2.5 bm 21 % FC NET/EMPLOYEE 2025 COST OF WOR
Slide 20: Spending and overhead real CAGR excluding asset-level expenses
Excluding asset-level operating expenses, The NDU has achieved a real CAGR of spending and overhead of -5.4% and -3.4% NDU 2025 Expenditures (COP million) 100,000 88,754 43,19 90,000 80,000 Expenses excluding 70,000 Property Tax, Security, and Maintenance: 60,000 8,941 50,000 32,879 million 3,736 40
Slide 21: NDU Value Vision
NDU Value Vision * Figures in COP tn Valuation by Colliers + Francisco Ochoa Avaluos SAS 3 Upside Internal DFC 2.3 tn 2.1 tn 2 0.2 2 0.9 0.2 1 1 1.0 0 Barranquilla Barú Otros Other Grupo Argos 158
Slide 22: Net divestments outperformance since Analyst Day 2020
Since Analyst Day 2020, we have achieved an outperformance in net divestments of 6.5% and in NPV of 10.6% 140,000 Net divestments in Barranquilla (in million COP) 120,000 100,000 94,000 80,000 60,000 40,000 20,000 - 2021 2022 2023 2024 2025 Modeloday Analyst Analyst 2020Day 2020 model + Inventario +
Slide 23: Net divestments should reach 291,000 per year
Net divestments in Barranquilla and Barú should reach 291,000 per year Additional annual upside "stabilized" of 40+ billion with batch sales for 4,000 VIS units per year. 350,000 291,000 300,000 273,000 Net Divestments (in million COP) 256,000 250,000 215,000 200,000 173,000 150,000 100,000 50,000 0
Slide 24: Investor Day
Investor Day February 2026 161