Grupo De Inversiones Suramericana S.a. · BVC:GRUPOSURA
Grupo De Inversiones Suramericana — Grupo SURA — Q4 2024 Earnings Presentation
27 slides from Grupo De Inversiones Suramericana's earnings presentation, February 2025
Slide 1: Grupo SURA 4Q 2024 Results Presentation
Grupo SURA 4Q 2024 Results Presentation
Slide 2: Disclaimer
This document may contain forward-looking statements related to Grupo SURA and its subsidiaries, which have been made under assumptions and estimates of the management of the Companies and may present variations. Fora better illustration and decision making, the figures are administrative and not ac
Slide 3: Grupo SURA | 4Q 2024
GRUPO SURA | 4Q 2024
Slide 4: Grupo SURA achieves net income of COP 6.1 tn, supported by a solid portfolio
Grupo SURA achieves net income of COP 6.1 tn, supported by a solid portafolio of companies Pro forma net income (COP tn)| ROE Net income per share (COP) 4
Slide 5: Net income
Net income FINANCIALS TROBE EX 2 GRUPO. sura Performance of the portafolio companies ASSET MANAGEMENT 885 bn-1.8% 9.0% ° 24.1% suramericana 751 bn+65.3% 13.1%' 16.1% Grupo . C »} Bancolombia GRUPO ARGOS 6.3 tn +2.5% 766 bn +391.7% 15.8% 20.0% Equity method NON FINANCIALS
Slide 6: Key highlights
Key highlights Progress in the excecution of the transaction: • Adhesion by Cementos Argos • Publication of the spin-off project • Notice for the Shareholders' Meeting The market making program contributed to reducing volatility in the bid-offer spread of both stocks: Comn ~60% Pref ~57%. We advance
Slide 7: Suramericana
SURAMERICANA 4Q 2024 suramericana \W
Slide 8: Increase in technical results drives net income to COP 751 billion
The increase in technical results drives net income, which reached COP 751 billion, with a return on equity of 13.1%. Written Premiums Technical Result Investment income Controlling net income| adjusted ROE Pro forma Pro forma Pro forma +6.6% +23.4% -19.8% 1,000 14.0% 900 12.0% 800 10.0% 700 600 8.0
Slide 9: Premium growth of 6.6% at constant exchange rate
Premium growth of 6.6% at a constant exchange rate reflects greater dynamism in the life segment, which grew by 9.7%, and risk appetite in the P&C insurance segment. Pro forma written premiums Pro forma written premiums Dec24 vs Dec23 4Q24 vs 4Q23 % Var. CR %Var % Var. CR %Var Dec24 vs Dec23 Dec24 v
Slide 10: Consolidated claims ratio closed at 58.1%
Consolidated claims ratio closed at 58.1% as of December, with an improvement of 50 bps, driven by the Life segment. Retained claims Combined ratio| P&C Annual Cumulative 70.0% 65.0% 60.0% 55.0% 50.0% Life 45.0% 40.0% 35.0% 30.0% 25.0% 20.0% 60.0% 55.0% 50.0% 45.0% 40.0% P&C 35.0% 30.0% 25.0% 20.0%
Slide 11: Suramericana Guidance 2025
Suramericana n Guidance 2025 suramericana A Written Clai Admin expenses/ Adjusted Adjusted premiums ‘aims Written premiums ROE ROTE 8% - 10% 57% - 58% 9.5% - 10.5% | 12%- 14% 2025 Life: 11% -13% Life: 61% -63% P&C: 6% - 8% P&C: 50% - 5: 11
Slide 12: SURA Asset Management 4Q 2024
sura > ASSET MANAGEMENT. SURA AM | 4Q 2024 r J
Slide 13: Fee and commission income rose 12% in constant exchange rate terms
Fee and commission income rose 12% in constant exchange rate terms, with growth of more than 15% in Mexico and Colombia. Comission income Operational expenses Controlling Net Income| Adjusted ROE +12.1% +7.1% 3,0 00 4,0 00 3,9 00 2,9 00 3,8 00 2,8 00 3,7 00 3,6 00 2,7 00 3,5 00 2,6 00 3,4 00 3,3 00
Slide 14: AUM increase drives double-digit commission income growth
The increase in AUM contributes to the double-digit growth of commission income in the Savings and Retirement segment. Operating income Commission income Legal reserves income excluding cash equivalents +10.8% +14.4% +2.9% 1,6 00 490 1,5 50 470 450 1,5 00 430 1,4 50 410 1,4 00 390 1,3 50 370 350 1,3
Slide 15: SURA Investments' results show progress in three lines of business
SURA Investments' results show progress in its three lines of business, with AUM growing 21% at a constant exchange rate. AUM Comission income Net income +20.9% +24.7% Var% Dec24 vs Dec23 in constant exchange rate 15
Slide 16: SURA Asset Management Guidance 2025
SURA Asset Management surd 7 ‘ASSET MANAGEMENT Guidance 2025 AUM Comission Adjusted Adjusted income ROE ROTE 9% - 11% 24% - 26% SR: 9% -11% SER: 7% -9% SURA Investments: 9%-11% | SURAInvestments: 2025 16
Slide 17: Grupo SURA | 4Q 2024
GRUPO SURA | 4Q 2024
Slide 18: Equity method grew 28%
Equity method grew 28%, thanks to the solid performance of Bancolombia's results and the higher contribution of Grupo Argos during the year Accumulated equity method Results for the year leveraged by: • COP 2.3 tn • NIM 6.85% in 2024 Decrease in cost of risk to 2.05% +27.7% vs Dec 23 • Earnings of C
Slide 19: Financial portfolio contributes $3 trillion
Financial portfolio contributes $3 trillion, reflecting the strength and sustained growth of our companies Composition of controlling net income 19
Slide 20: Dividends received of COP 2.1 trillion; net debt/dividends 3.4x
The strength and soundness of the business allows for dividends received to amount COP 2.1 trillion, reaching a net debt/dividends ratio of 3.4x. Dividends received | Operating Cash Flow* • • • 11. 0x 35.0 Net Debt / Dividends 30.0 9.0 x ✓ 25.0 7.0 x ✓ 20.0 5.0 x 15.0 3.0 x 10.0 • • 1.0 x 5.0 - -1.0
Slide 21: Financial portfolio projects positive performance in 2025
The financial portfolio projects positive performance in 2025, with comparable earnings per share growth between 5% and 10%. 21
Slide 22: Spin-Off Project
Spin-Off Project
Slide 23: Spin-off project to the shareholders' meeting
Grupo SURA, Grupo Argos and Cementos Argos will bring a spin-off project to the shareholders' meeting whereby they agreed to dispose of the cross-shareholdings by means of simultaneous spin-offs by absorption. KR O ND EF Cross-shareholdings between Grupo SURA and Grupo Argos are eliminated through s
Slide 24: Shareholder value preserved through two species
The value that the shareholders had through a species does not change,they will have it directly through 2 species: Grupo SURA and Grupo Argos 24
Slide 25: Proposed transaction fosters a virtuous circle for shareholders
The proposed transaction fosters the creation of a virtuous circle that benefits its Shareholders, the Companies and the market • • • • • • • 25
Slide 26: Post spin-off Grupo SURA investment portfolio
Post spin-off Grupo SURA will maintain a solid investment portfolio, focused on financial services, with an estimated value of ~COP 30 trillion supported by fundamental variables Portafolio 37tn – 44tn value Net portafolio 29tn – 36tn value Other 26
Slide 27: Board proposes to increase dividend per share by 7.1%
The Board of Directors proposes to the Shareholders' Meeting to increase the dividend per share by 7.1%. 25 00 Dividends per share 2000 1500 1000 500 0 27