Grupo de Inversiones Suramericana S A : 2025 Q4 Separate financial statements

About this update from Grupo De Inversiones Suramericana S.a.

Free translation SEPARATE Financial statements 1 | GRUPO DE INVERSIONES SURAMERICANA S.A. As of December 31, 2025, and as of December 31, 2024 TABLE OF CONTENT CERTIFICATION OF THE LEGAL REPRESENTATIVE AND ACCOUNTANT 5 NOTE 1. REPORTING ENTITY 13 NOTE 2. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES 13 Note 2.1. Statement of compliance 13 Note 2.2. Basis of presentation 14 Note 2.2.1. Presentation currency 14 Note 2.2.2. Hyperinflation 14 Note 2.3. Significant accounting policies 15 Note 2.3.1. Cash and cash equivalents 15 Note 2.3.2. Financial instruments 15 Note 2.3.3. Taxes 19 Note 2.3.4. Investments in subsidiaries and associates 21 Note 2.3.5. Non-current assets held for sale and discontinued operations 23 Note 2.3.6. Properties and equipment 23 Note 2.3.7. Leases 24 Note 2.3.8. Employee benefits 25 Note 2.3.9. Provisions and contingencies 26 Note 2.3.10. Income 27 Note 2.3.11. Earnings per share 27 Note 2.3.12. Expenses 28 NOTE 3. SIGNIFICANT ACCOUNTING JUDGMENTS, ESTIMATES, AND CAUSES OF UNCERTAINTY IN THE PREPARATION OF THE FINANCIAL STATEMENTS 28 Note 3.1. Fair value of financial instruments 29 Note 3.2. Expected losses on financial assets 30 Note 3.3. Deferred tax asset recognition 31 Note 3.4. Impairment of investments in subsidiaries 31 Note 3.5. Useful life and residual value of property and equipment, 31 Note 3.6. Measurement of lease liability 31 Note 3.7. Provisions and contingent liabilities 31 Note 3.8. Post-employment and long-term benefits 32 Note 3.9. Going concern 32 NOTE 4. NEW AND AMENDED STANDARDS AND INTERPRETATIONS 32 Note 4.1. New and amended standards and interpretations issued 32 Note 4.2. New and amended standards and interpretations issued and not yet effective 33 Note 4.3. New and amended standards and interpretations issued but not yet applied 37 NOTE 5. RELEVANT FACTS 38 NOTE 6. FINANCIAL INSTRUMENTS 42 Note 6.1. Financial assets 42 Note 6.1.1. Cash and cash equivalents 42 Note 6.1.2. Investments 43 Note 6.1.3. Derivative financial instruments 44 Note 6.2. Financial liabilities 45 Note 6.2.1. Financial liabilities 46 Note 6.2.2. Derivative financial instruments 48 Note 6.2.2.1. Hedging derivative financial instruments 49 Note 6.2.2.2. Trading derivative financial instruments 52 Note 6.2.3. Issued bonds 53 Note 6.2.4. Commitments to non-controlling shareholders 53 Note 6.2.4.1. Agreement with Münchener Rückversicherungs - Gesellschaft Aktiengesellschaft, also known as Münchener Rück AG, or Munich Re (hereinafter "MRE") as shareholder of the subsidiary Suramericana S.A., holder of an 18.87% equity interest in such subsidiary 54 Note 6.2.4.2. Agreement with Caisse De Dépôt Et Placement Du Québec (hereinafter "CDPQ") as shareholder in the subsidiary Sura Asset Management S.A., holder of a 6.68% equity interest in said subsidiary 54 Note 6.2.4.3. Agreement with Grupo Bolívar S.A. and Compañía de Seguros Bolívar S.A. (hereinafter GB) as shareholders in the subsidiary Sura Asset Management S.A., former holders of a 9.74% equity interest in said subsidiary and the execution of a share purchase and sale agreement 54 Note 6.2.4.4. Exit option with non-controlling shareholders 54 Note 6.2.5. Accounts payable 55 Note 6.2.6. Covenants 55 NOTE 7. RELATED PARTIES 56 Note 7.1. Significant agreements 56 Note 7.2. Income and expenses with related parties 57 Note 7.3. Accounts receivable and accounts payable to related parties 58 NOTE 8. INCOME TAXES 60 Note 8.1. Current income tax 61 Note 8.1.1. Current income tax assets and liabilities 61 Note 8.1.2. Income tax recognized in profit or loss 61 Note 8.1.3. Reconciliation of the effective tax rate 62 Note 8.1.4. Current tax movement 63 Note 8.2. Deferred income tax 63 Note 8.3. Tax regulations applicable to the Company 64 Note 8.4. Tax credits and unrecognized deferred income tax assets 64 Note 8.5. Uncertainty regarding income tax treatments 65 NOTE 9. INVESTMENTS IN ASSOCIATES AND SUBSIDIARIES 65 Note 9.1. Investments in associates 65 Note 9.1.1. Balance and movements of associates 65 Note 9.1.2. General information on investments in associates 66 Note 9.1.3. Cross shareholding 67 Note 9.1.4. Guarantees 67 Note 9.1.5. Dividend income 68 Note 9.1.6. Financial information of associates 68 Note 9.2. Investments in subsidiaries 69 Note 9.2.1. Balance and movements of subsidiaries 69 Note 9.2.2. General information on investments in subsidiaries 71 Note 9.2.3. Financial information of subsidiaries 72 Note 9.3. Impairment of investments in associates and subsidiaries 72 Note 9.3.1. Fair value of investments in associates 72 Note 9.3.2. Key assumptions 73 Note 9.3.3. Fair value of investments in subsidiaries 74 NOTE 10. NON-CURRENT ASSETS HELD FOR SALE AND FOR DISTRIBUTE TO SHAREHOLDERS 75 NOTE 11. EMPLOYEE BENEFITS 76 Note 11.1. Short-term benefits 76 Note 11.2. Long-term benefits 77 Note 11.3. Post-employment benefits 78 Note 11.4. Defined contribution plans 80 Note 11.5. Employee benefits expense 81 NOTE 12. PREFERRED SHARES LIABILITY 81 NOTE 13. EQUITY 82 Note 13.1. Issued capital 82 Note 13.2. Premium on the issue of shares 83 Note 13.3. Reserves 84 Note 13.3.1. Legal reserve 84 Note 13.3.2. Occasional reserve 84 Note 13.3.3. Acquisition of treasury shares reserve 85 Note 13.4. Acquisition of treasury shares 85 Note 13.5. Retained earnings 85 NOTE 14. DECLARED AND PAID DIVIDENDS 86 NOTE 15. OTHER COMPREHENSIVE INCOME 87 Note 15.1. Defined benefit plan measurements 87 Note 15.2. Results from investments in equity instruments 88 Note 15.3. Cash flow hedge derivatives 88 Note 15.4. Effect on other comprehensive income of subsidiaries accounted for using the equity method 88 NOTE 16. INCOME 89 NOTE 17. ADMINISTRATIVE EXPENSES 91 NOTE 18. FEES 91 NOTE 19. FINANCIAL RESULT 92 Note 19.1. Net exchange difference 92 Note 19.2. Interest and others 93 NOTE 20. EARNINGS PER SHARE 94 NOTE 21. FAIR VALUE 94 Note 21.1. Determination of fair value 96 Note 21.2. Fair value measurement on a recurring basis 97 Note 21 3. Fair value of financial assets and liabilities measured at amortized cost or other valuation method 98 NOTE 22. RISK MANAGEMENT 98 Note 22.1. Credit risk management 99 Note 22.2. Market risk management 100 Note 22.2.1. Exchange rate risk 100 Note 22.3. Liquidity risk management 102 NOTE 23. CAPITAL MANAGEMENT 107 NOTE 24. EVENTS AFTER THE REPORTING DATE 107 NOTE 25. APPROVAL OF THE FINANCIAL STATEMENTS 108 CERTIFICATION OF THE LEGAL REPRESENTATIVE AND ACCOUNTANT Medellin, February 26, 2026 Acting as legal representative and accountant of Grupo de Inversiones Suramericana S.A. (the Company), each within their competencies and under whose responsibility the attached separate financial statements were prepared, we certify that these financial statements have been faithfully taken from the books and that before being made available to you and third parties, the following statements contained therein have been verified: Existence: The assets and liabilities included in the separate financial statements of the Company exist and all transactions included in these financial statements have been carried out during the annual periods ending on December 31, 2025, and December 31, 2024. Completeness: All economic events performed by the Company during the annual periods ending December 31, 2025, and December 31, 2024, have been recognized in separate financial statements. Rights and obligations: Assets represent probable future economic benefits (rights) and liabilities represent probable future economic sacrifices (obligations), obtained or payable by the Company on December 31, 2025, and December 31, 2024. Valuation: All items have been recognized at appropriate amounts. Presentation and disclosure: All economic events affecting the Company have been properly classified, described and disclosed in separate financial statements. The above statements are certified according to Article 37 of Law 222 of 1995. Additionally, as legal representative of Grupo de Inversiones Suramericana S.A., I certify that the separate financial statements of the Company as of December 31, 2025, and December 31, 2024, do not contain any defects, inaccuracies or errors that prevent its true financial position from being known. The above statement is certified according to Article 46 of Law 964 of 2005. Signed Original Signed Original Ricardo Jaramillo Mejía Juan Guillermo Chica Ramírez Legal Representative Accountant Professional Card 64093-T | GRUPO DE INVERSIONES SURAMERICANA S.A.

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