Grupo Aval Acciones Y Valores Sa · BVC:GRUPOAVAL
Grupo Aval Acciones Y Valores Sa — JP Morgan Global Emerging Markets Corporate Conference (March 2026)
32 slides from Grupo Aval Acciones Y Valores Sa's conference presentation, March 2026
Slide 1: Corporate Presentation Grupo Aval
CORPORATE PRESENTATION GRUPO AVAL March, 2026
Slide 2: Disclaimer
DISCLAIMER Grupo Aval Acciones y Valores S.A. (“Grupo Aval”) is an issuer of securities in Colombia and in the United States (“SEC”). As such, it is subject to compliance with securities regulation in Colombia and applicable U.S. securities regulation. Grupo Aval is also subject to the inspection an
Slide 3: A Leading Financial Conglomerate in Colombia
A LEADING FINANCIAL CONGLOMERATE IN COLOMBIA Key Consolidated Figures (December 25) Principales cifrasPs 348.9 Tn I US$ 92.9 Bn 1 Total assets Ps 469.5 Tn2 I US$ 125.0 Bn1 Assets under management Ps 190.9 Tn I US$ 50.8 Bn1 Gross loans Colombia Ps 207.4 Tn I US$ 55.2 Bn1 67,585 Employees Deposits 965
Slide 4: Macroeconomic Context | Colombia (1 | 2)
MACROECONOMIC CONTEXT | COLOMBIA (1 I 2) Public vs. Private GDP * GDP (YoY%) GDP 2025 (YoY%) (YoY%) -10% -5% 0% 5% 10% 12% 15% Other services 9.9% Aval guidance 10% FY 26: 2.4% Commerce 4.6% 8% Social services 4.5% 10% 6% Agriculture 3.1% 7.1% 3.80% Financial services 2.8% 4% 5% 2.6% GDP 2.6% 2% 1.5
Slide 5: Macroeconomic Context | Colombia (2 | 2)
MACROECONOMIC CONTEXT | COLOMBIA (2 I 2) Inflation vs. Central bank Current account vs. Exchange rate Primary fiscal deficit central interest rate (YoY%, %) (12-month %GDP, USD/COP avg. inverted) Government (% GDP, YTD) 14% -1% 3,500 4% Aval guidance EoP 26: 11.75% 3,682 -2% 12% Aval guidance 2% EoP
Slide 6: A Story of Continuous Growth and Excellence
A STORY OF CONTINUOUS GROWTH AND EXCELLENCE Evolution of Grupo Aval’s unconsolidated assets Figures in Ps. billion Grupo Aval’s NYSE IPO 27,576 25,575 Preferred stock IFRS issuance BAC Adoption Spin-off 21,785 20,940 20,037 18,897 17,864 BAC acquisition 8,562 2,735 1999 2000 2001 2002 2003 2004 2005
Slide 7: Leveraged on Organic and Inorganic Growth
LEVERAGED ON ORGANIC AND INORGANIC GROWTH v 1971 - 1991 - 1991 - 1997 - 1998 - 2000 - 2010 - 2012 - 2014 - 2019 - 2021 - 2025 1972 1998 1994 1999 1999 2007 2011 2013 2018 2020 2024 Acquisitions Acquisition of Entrance to Privatization Grupo Aval is Strategic Bond and Grupo Aval’s Strategic Strategic
Slide 8: Key Events for 2025 (1 | 2)
KEY EVENTS FOR 2025 (1 | 2) The divestment of MFG strengthens Banco de Bogotá’s position to Banco de Bogotá’s purchase of Itaú Colombia’s retail banking(2) , by pursue stronger growth in its core market and reallocates capital adds ~277 thousand clients, reinforces Banco de Bogotá’s focus on toward
Slide 9: Key Events for 2025 (2 | 2)
KEY EVENTS FOR 2025 (2 | 2) • On January 2, Aval Fiduciaria consolidated all the fiduciary businesses of Fiduciaria Bogotá, Fiduciaria de Occidente and Acquisition of 100% of a regional renewable generation platform with presence in Colombia, Chile, and Peru with a contracted capacity of Fiduciaria
Slide 10: We Hold Controlling Stakes in Our Main Subsidiaries
WE HOLD CONTROLLING STAKES IN OUR MAIN SUBSIDIARIES Figures as December 31st, 2025 Limited Direct ownership 68.9% 72.3% 93.7% 79.9% 20% 40.8% 94.5% 100% (1) 8.7% Aval Indirect ownership Total Shares Aval Casa Aval Banca de Aval Valor Gou structure Corfi Porvenir de Bolsa Fiduciaria Inversión Compart
Slide 11: Generating Value Through Main Operating Segments
GENERATING VALUE THROUGH 3 MAIN OPERATING SEGMENTS Banking services Commercial Banking Financial Services and Sinergies Strategic Focus Corporate Medium enterprises Segments SMEs and very small businesses Government Affluent Mass consumer market Silver economy and public employees Term loans and wor
Slide 12: Consolidating a Leading Financial Conglomerate in Colombia
CONSOLIDATING A LEADING FINANCIAL CONGLOMERATE IN COLOMBIA Figures as December 31st, 2025 Market Share Complete suite of banking and non-banking products offered1 ▪ 25.0% in gross loans ▪ 26.1% in corporate lending ▪ 25.7% in deposits ▪ 26.1% in medium enterprises ▪ 27.0% in commercial loans ▪ 42.2%
Slide 13: Strategy Built Around Six Strategic Pillars
GRUPO AVAL’S STRATEGY IS BUILT AROUNG SIX STRATEGIC PILLARS Customer Financial Synergies and Digital Corporate Sustainability experience diversification efficiencies transformation culture 13
Slide 14: Synergies and Efficiencies | AVC
SINERGIES AND EFFICIENCIES | AVC Administrative Synergies 2025 Achievements and Physical Channels 1 Supply Chain - Procurement Physical Channels Management • Centralized management of • First to implement NFC 1 Supply Chain - Procurement purchases across Aval Banks technology in ATMs • 40% reduction
Slide 15: Immediate Payments (Bre-B) | Gou Payments
IMMEDIATE PAYMENTS (BRE-B) | GOU PAYMENTS State of the art processing capabilities Value proposition: autonomy and time to market 1 • Traditional and instant payments processing • Clearing house for Aval Banks and third parties • All channels are interoperable with the Central Bank +9.1million +51 m
Slide 16: Digital Wallet | dale!
DIGITAL WALLET | dale! Features and benefits +4 .3 M Customers Free and instant interoperable transfers to any other keys Remittances reception Instant and free to the receptor from 45 countries Interoperable NFC and QR Payroll reception Starting from age 12 payments for individuals and With free de
Slide 17: Impacts on the Environment and Social Value Creation (1 | 3)
IMPACTS ON THE ENVIRONMENT AND SOCIAL VALUE CREATION (1 | 3) R Return with Purpose ¡We strengthened and accelerated our sustainability performance.! Sustainable Return on Equity ESG Strategy R O E We achieved a historic score of 81/100, and were It achieved a score of Ranked #1 globally in its It ac
Slide 18: Impacts on the Environment and Social Value Creation (2 | 3)
IMPACTS ON THE ENVIRONMENT AND SOCIAL VALUE CREATION (2 | 3) R Return with Purpose Sustainable finance Under its alliance with the Through its sustainable National Federation of financing lines, it Coffee Growers, it financed supported renewable more than 17,450 coffee energy projects primarily grow
Slide 19: Impacts on the Environment and Social Value Creation (3 | 3)
IMPACTS ON THE ENVIRONMENT AND SOCIAL VALUE CREATION (2 | 3) O Opportunities for All E Environmental Balance We invested $70,000 million COP We joined with our main entities in in social programs benefiting 2 million people, through projects the Partnership for Carbon focused on community infrastruc
Slide 20: Diversified Loan Portfolio and Deposits Base
WITH A DIVERSIFIED LOAN PORTFOLIO AND DEPOSITS BASE Figures in Ps. Trillion FY26 Loan growth guidance: Gross loans 10% area Gross loans Consumer loans Commercial loans 7% area Retail loans 14% area 5.2% LTM Δ % 183.1 183.3 185.2 189.3 192.7 Mix 11.5% 19.6% Mortgages 4.7% 20.3 21.3 22.1 0.0 18.5 0.0
Slide 21: NIM Recovery Driven by NIM on Loans
NIM RECOVERY DRIVEN BY NIM ON LOANS 5.05% 4.55% 4.60% 4.64% 4.57% FY24 Pro Forma FY25 Pro Forma FY26 Guidance 4.16% 4.52% 3.63% Consolidated 4.36% 2.86% 2.93% 2.65% NIM 3.51% 3.78% 4.3% área 0.41% NIM on loans 4.43% 4.71% 4.7% área -3.48% NIM on -2.69% 0.13% 0.92% N.A. investments 4Q24* 1Q25* 2Q25*
Slide 22: Supported by the Recovery of Retail Loans NIM
SUPPORTED BY THE RECOVERY OF RETAIL LOANS NIM 6.63% 6.18% 6.26% 6.20% 5.97% Consolidated FY24 FY25 NIM on 3.68% 3.50% commercial loans 3.86% 3.54% 3.44% 3.42% NIM on retail loans 5.49% 6.33% 3.35% 4Q24* 1Q25 * 2Q25 * 3Q25 * 4Q25 * NIM on commercial loans NIM on retail loans 6.87% 7.16% 6.69% 6.82% 6
Slide 23: Favorable Asset Quality Trends in the Loan Portfolio
AND FAVORABLE ASSET QUALITY TRENDS IN THE LOAN PORTFOLIO PDLS +30 & PDLS +90 Asset quality measured by stages Cost of risk, net Stage 1 Stage 2 Stage 3 30 PDLs 90 PDLs Coverage stage 2 & stage 3 39.0% 37.1% 140.0% 35.2% 35.6% 40.0% Gross loans 120.0% 33.6% 2.1% 35.0% 5.4% 1.9% 1.8% 2.0% 1.7% 5.2% 4.
Slide 24: Recovery of Risk Adjusted NIM on Loans
REFLECTED ON A RECOVERY OF RISK ADJUSTED NIM ON LOANS Grupo Aval Banking segment 3.82% 3.34% 3.44% 3.27% 2.83% 3.04% 3.08% 2.67% 2.59% 2.47% 2.13% 1.88% 1.98% 1.80% 1.71% 2.13% 1.88% 1.98% 1.80% 1.71% CoR, net NIM on loans - CoR, net 4Q24* 1Q25* 2Q25 * 3Q25* 4Q25* 4Q24* 1Q25* 2Q25* 3Q25 * 4Q25 * CoR
Slide 25: Contained Opex Metrics
WITH CONTAINED OPEX METRICS Figures in Ps. Billions Total other expenses Cost to assets (1) FY26 Guidance: 2.8% area ∆ 9.6% 8,897 2,411 8,121 2.7% 2.8% 2,226 770 2.6% 2.6% 2,131 2,194 2,163 207 2.5% 2.6% 2.6% 674 176 191 193 179 1,338 4,697 1,213 1,115 1,128 1,117 4,292 790 790 802 816 824 3,232 3,0
Slide 26: Diversified Revenues from Fees & Non-Financial Income
AND DIVERSIFIED REVENUES FROM FEES & NON-FINANCIAL INCOME Figures in Ps. Billions Gross fee income Non- financial sector ∆ 6.8% ∆ -15.7% 1,229 1,251 4,784 1,152 1,159 1,145 4,478 2,477 53 51 204 680 89 37 2,088 46 48 51 182 509 493 336 337 1,282 19 463 452 156 311 320 290 1,175 23 17 1,595 149 149 4
Slide 27: The Largest Pension and Severance Fund Manager
INCLUDING THE LARGEST PENSION AND SEVERANCE FUND MANAGER Figures in Ps. Trillion; as of December 31, 2025 AUMs evolution 15.6% 0.5% 253.2 269.9 271.2 234.6 235.8 7.3 7.8 7.1 6.2 6.8 13.5 12.7 10.8 14.0 11.6 Assets under management 218.2 232.1 249.1 250.7 216.8 3% 5% 4Q24 1Q25 2Q25 3Q25 4Q25 Mandator
Slide 28: The Largest Trust & Fiduciary Management Company
AND THE LARGEST TRUST & FIDUCIARY MANAGEMENT COMPANY Figures in Ps. Trillion; as of December 31, 2025 AUM evolution 6.9% 189.5 191.4 201.0 198.3 185.5 27.0 19.6 22.7 27.3 Assets under management 19.4 22.6 26.3 24.6 29.1 26.0 25.5 25.3 26.1 25.7 26.0 26.7 26.7 26.0 27.8 27.3 91.3 91.6 91.9 91.3 91.7
Slide 29: Supported on a Sound Capital Structure
SUPPORTED ON A SOUND CAPITAL STRUCTURE Separate basis Ps 50 billion of equity and Ps 50 billion Ps 50 billion bonds (Tier II) issued bonds (Tier II) issued on August 25 during Sep-25 18.8% 17.7% 17.7% 18.2% 18.1% 2.9% 2.3% 2.2% 2.1% 2.0% 12.7% 12.7% 12.8% 13.1% 12.5% 12.7% 12.7% 12.1% 11.8% 12.1% 11
Slide 30: Grupo Aval's Debt Profile and Total Assets
GRUPO AVAL’S DEBT PROFILE AND TOTAL ASSETS (COMBINED FIGURES)* Asset composition (December 31, 2025) Maturity schedule of our combined gross debt Figures in Ps. Billion Cash and equivalents 601 Fixed income investments 119 Investments in AT1 instruments 2,066 Senior Loans to related parties 981 Subt
Slide 31: Guidance
GUIDANCE GDP Inflation (EoP) Repo rate (EoP) MACRO 2.4% 6.2% 11.75% Total Commercial Retail Loan growth 2025 4.6% 1.9% 8.3% 2026 10% 7% 14% Grupo Aval Banking segment NIM NIM on loans NIM NIM on loans NIM 2025 3.8% area 4.7% area 2025 4.5% area 5.2% area 2026 4.3% area 4.7% area 2026 5.1% area 5.4%
Slide 32: Investor Relations contacts
Investor Relations contacts Investorrelations@grupoaval.com Nicolás Noreña Trujillo Senior Manager of Strategic Planning & IR Tel: (601) 7433222 x 23400 nnorena@grupoaval.com Simón Franky Director of Financial Planning & IR Tel: (601) 7433222 x 23351 sfranky@grupoaval.com